Quant-trader career advice

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xroads84

Hi

Would like to ask you guys for some career advice

Currently working on the electronic trading desk at an investment bank as a trader/risk manager

Would like to evolve into a quant-trader type role, however my programming/maths skills are fairly basic. I completed an undergrad Bachelor of Commerce with a Finance major 8 years ago.

What would be the best steps to take? I am considering some part time postgrad courses, but not sure which ones to take. Something like machine learning/AI interests me, but not sure I have a strong enough maths background (although I did take a couple of advanced maths subjects at university). Building/developing automated trading strategies is something I would like to evolve into. Any and all advice welcome!

Cheers
 
Quote from xroads84:

Hi

Would like to ask you guys for some career advice

Currently working on the electronic trading desk at an investment bank as a trader/risk manager

Would like to evolve into a quant-trader type role, however my programming/maths skills are fairly basic. I completed an undergrad Bachelor of Commerce with a Finance major 8 years ago.

What would be the best steps to take? I am considering some part time postgrad courses, but not sure which ones to take. Something like machine learning/AI interests me, but not sure I have a strong enough maths background (although I did take a couple of advanced maths subjects at university). Building/developing automated trading strategies is something I would like to evolve into. Any and all advice welcome!

Cheers
More...

Just buy Multicharts, get data, learn to use genetic algorithms, and hope you're actually ingenious enough to use those tools effectively from the algorithms you're familiar enough with to code.
 
1. quit your job immediately. you are in a role that will brainwash you to fail. you know you are replaceable, a sheep, working for the man....these are bad characteristics for traders. you must break these habits?

2. trade your own capital immediately. however, based on your job, maybe not likely.

3. leave finance immediately, since 95% fail.

4. work for 10-years, save money, try to trade, while coding but not trading and learning but not really learning.....

5. work, get married, have kids, save for their college, die.

so......how bad do you want it?????!!!!

LOL
 
Quote from xroads84:

Hi

Would like to ask you guys for some career advice

Currently working on the electronic trading desk at an investment bank as a trader/risk manager

Would like to evolve into a quant-trader type role, however my programming/maths skills are fairly basic. I completed an undergrad Bachelor of Commerce with a Finance major 8 years ago.

What would be the best steps to take? I am considering some part time postgrad courses, but not sure which ones to take. Something like machine learning/AI interests me, but not sure I have a strong enough maths background (although I did take a couple of advanced maths subjects at university). Building/developing automated trading strategies is something I would like to evolve into. Any and all advice welcome!

Cheers
More...

if you are at an actual bank, there are transition paths you can follow... go to your internal HR site and look at the different career paths for the positions, they are disclosed... they will show educational and skills requirements, along with internal classes you need to take, etc...
 
All of the advice above is bad. You sound like you have a better job than any of them can envision, so please keep it first as that is almost risk-free. As for courses, it really depends on what you're trying to do (buy/sell-side quant?). You likely have to count on your personal connections and work experience to work your way into such a job now, rather than acquiring some background knowledge through a semester-long course. If you really want to rely on short re-education, a M.Fin/M.Eng is a common path for transition.
 
Here is what you do.

Step 1: Find out who is in charge of the quant traders.

Step 2: Hire a private investigator to follow them for a few weeks.

Step 3: If they play golf then start playing at the same places and times as them.

Step 4: if they don't play golf find out where they hang out.

Step 6: Bump into them and start some chit chat and when the subject of trading comes up say something "OMG we are in the same business" and then say where you work.

Step 7: This is the most important... Learn to suck a mean cock real well because that is the deal closer.... If you happen to get a brown nose that helps too....

That is how you do it! HR is a joke and all of those jobs come down to relationships. If they like you they will tell HR that they want to interview you!
 
Quote from Satan's Helper:

That is how you do it! HR is a joke and all of those jobs come down to relationships. If they like you they will tell HR that they want to interview you!
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every job, will always come down to relationships or skills... if skills are lacking, and even when they are not, relationship always trumps all else... so you have not stated anything new really...

the HR route works, as it assumes he works at an Investment Bank, I realize that people might have a different idea of what a bank might be from what I have experienced... in any event, assuming he is already an associate, his route for moving laterally and up in grade will be based on a bunch of BS training requirements that he needs to meet...

lastly, if you are going to kiss ass... it should be to DIR/MDIR... anything less than that grade is meaningless...

but hey, what do I know... I am clearly wrong.. and the OP is nuts and clueless for asking advice in a place like this...

so am out...
 
I'm the only one that answered this programmer's questions about quantitative trading.

If you want to be a quant, start backtesting, like I did May 2003.
 
Quote from loopquantumgirl:

All of the advice above is bad. You sound like you have a better job than any of them can envision, so please keep it first as that is almost risk-free. As for courses, it really depends on what you're trying to do (buy/sell-side quant?). You likely have to count on your personal connections and work experience to work your way into such a job now, rather than acquiring some background knowledge through a semester-long course. If you really want to rely on short re-education, a M.Fin/M.Eng is a common path for transition.
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you have obviously never made more than 200,000 a year. which isn't easy, but not that difficult. his job sounds horrible, and risk-free is a horrible way to live life.

good luck, sheepies
 
Quote from igotcash:

you have obviously never made more than 200,000 a year. which isn't easy, but not that difficult. his job sounds horrible, and risk-free is a horrible way to live life.

good luck, sheepies
More...

Yeah, the Master Finance isn't going to help.

Finding codes and backtesting from strategies you can find and test on your own is what this "programmer" needs to do.

You can't do anything "Quant" unless you are familiar with the theories and can explain them to yourself, accept explanation, code your mathematical interpretation, and I guarantee there are so few people that do this I need the op to know that my nickname on the websites I represent is "QuantMaster."

It's not an idle boast or a joke. The amount of work that went into that model required a person with math backgrounds all the way to Philosophy of Mathematics Doctorate Stanford. Don't ever tell me anything that you can do outside of the research from someone in that capacity is anything but truly professional Quantitative Finance.

He sounds mired in programmatic issues or "plumbing." This is not quantitative finance and only requires intensive research and familiarity with coding, time and a lot of research he needs to do on his own and nothing is as problematic as needing to provide for yourself while you do this because at May 2003 it is now 2013 and I can safely feel comfortable with the work I've produced throughout that time, including a Bachelor of Science in Financial Economics and minor in mathematics with coursework you would expect only myself in this world to have and that much I can say is fair warning to the amount of trouble he's going to get into when he realizes how underpaid you'll be cracking the concepts I've interpreted and the unlimited wealth you can offer to the right well capitalized groups.
 
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