Quant-trader career advice

[SimpleTrades]

Quote from bwolinsky:

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.

My God what an ego! Losing money again, isn't that right, Blow?

 

[bwolinsky]

Quote from SimpleTrades:

My God what an ego! Losing money again, isn't that right, Blow?

Nobody answered his question. He didn't ask how to be a goddam HR manager. He asked how to be a quant and I told him how, so there's no ego, other than the one I earned from a long time of work nobody except my people seem to have respected, and they've been paid well for it so far.

My only complaint is the relationship Multicharts has had since last summer with Amp Futures. Automation is required to get the most out of my trades, and this is the only aspect to my trading that hasn't worked as well as I think it should have in the last year.

 

[toc]

Quote from igotcash:



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



LOL

Work for 10 years and while working try to find out how to pick the bullish or bearish sectors ex: gold, oil since 2000, internet technologies in the 1990s.

Then invest into the quality stocks and sit on them till the bull run is over.

Making 20% a year would be beating 90% of the investors out there.

Happy investing !!

 

[loopquantumgirl]

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

I don't think that's a significant threshold, since I've donated that in a single day. Nevertheless, I don't get how that disqualifies my statement.

 

[CalVolibrator]

I would not have expected anything else from you. Lol!!! You forgot to mention C2 right?

Quote from bwolinsky:

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.

 

[Crispy]

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

You`re asking these mopes?

www.nuclearphynance.com And dont be a dumbass. Use the search ALOT before you post. Or be prepared to get blown out of the water...

 

[CalVolibrator]

Are you feeling you are actually lacking the skill sets to make the transition or is it that you are just not given the opportunity? When you say electronic trading desk you mean the equity DMA team? Because if that is the case and you show you are hungry to transition plus bring solid programming skills to the table then I do not see why you could not make the transition. I would not bother with course work and university degrees at this point. Strengthen your programming, analytical skills and bother traders at desks with questions and offer them in exchange to do projects for them. I would say that is your number one best bet. I would never reject someone who approaches me at my desk and offers to work on a project in exchange to learn something. In fact, if the project result was impressive it would be my first candidate should I have room to expand.

Please do not listen to people who only have retail experience, nor listen just to my advice, but I am fairly certain that you will hear the same sort advice from most other professional traders.

P.S.: When I say do not listen to them I do not mean do not listen to anyone without professional experience. But please stay away from those who suggest to use Multicharts and all other kinds of crap or suggest you to quit your job. Ridiculous advice.

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

 

[CalVolibrator]

exactly!!!!

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.

 

[CalVolibrator]

you are the ONLY one in everything, including the biggest tool. Did you not also claim to be the true best trader at ET? The only one. You sound more like you are stuck in a for loop and can't get the heck out. Time to push the reset button...

Quote from bwolinsky:

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.

 

[CalVolibrator]

you are not even qualified to open your mouth here, tool. Go back and run Multichart tests, cause that is YOUR weapon of choice, which defines you, your skill set and intellect. But please do not give your garbage advice to those who are serious and apparently worked hard enough to get the foot into the door and give the impression away they are not belonging to the 99% of total morons on this site.

Quote from bwolinsky:

Nobody answered his question. He didn't ask how to be a goddam HR manager. He asked how to be a quant and I told him how, so there's no ego, other than the one I earned from a long time of work nobody except my people seem to have respected, and they've been paid well for it so far.

My only complaint is the relationship Multicharts has had since last summer with Amp Futures. Automation is required to get the most out of my trades, and this is the only aspect to my trading that hasn't worked as well as I think it should have in the last year.