FX Interview
Hey guys,
I am using my friend's account to ask on here since I don't want to create an entirely different username just for one question. I am having an FX ST interview coming up and would love to know how I should prepare for this. Do they expect a lot of knowledge in FX - which I have almost none.
Thanks guys,
As with any product, it is good to have some base level knowledge. I worked for GS in the FX BO/MO for 2 years and didn't get asked a single technical question during my interview. That said, it was also for a BO/MO role. I would suggest you have a look over different product types as most broker dealers aren't schlepping simple FX products in their transactions. Alot of options, as well as NDF's for the non G-10 currencies. Exotic options probably won't be part of the discussion, but realize that the VP's and the MD's will know this. I would also have a strong hold on recent macro events that drive markets. Things like Mr. Abe and BOJ actions, how that will effect the Yen and things like the carry trade. Major cross pairs and the underlying factors like the current account and balance of payments. Take a lap through Rickards. Again, that is all just general info. Someone else may have better insight into the technical questions. Hope that helps.
Corporate or Institutional?
Markets! Know what's happening with major currencies, interest rates, politics, economics. This is by far the most important thing, you don't want to be in the situation when you've just told the interviewer how much you love FX and then not being able to answer what's going on with EURUSD.
Practice a mini pitch on a topic of interest. A common question for me was: "OK, what events in the past year have captured your attention?". Dont cross the line of trying to appear too smart, don't use numbers that you are not sure about, do use lots of details and get it as technical as you are comfortable with. You are trying to not only demonstrate that you know what events happened but also how this affected currency markets.
Know your technicals, basic derivatives theory. Basic understanding of greeks, just in case you get an interviewer from a derivaties desk.
Usual shit - know your CV inside out, etc etc etc.
If you ever had a mock portfolio / trading account - LOTS of details on that. They WILL ask you on the trades you have made, what was you entry, exit, risk strategies, rationale for the trade, how it went, etc, etc, etc. Have at the very least 3 trades you can talk about, with lots of numbers.
Know the company inside out, know the current stock price, Q1 2013 earnings report, how it has done compared to competition, etc ,etc
Thanks guys,
Should I also prepare a currency pitch?
A trade idea you mean?
Sure... Try to read about 10 pitches from well established analysts - possibly the banks own research report on FX and choose one that makes sense to you. Do not try to come up with a groundbreaking Altiplano strategy with a complex execution algo you wrote up at college or whatever (i've seen my peers do that and being laughed at in their face, by that I mean the MD actually laughed out loud)... Choose something simple and not too technical
Dude no offence but you are going to be interviewing against people who are totally obsessed with markets. You have got to be able to at least feign some kind of non trivial crammed in the last 24 hours knowledge. Think about the fundamentals of FX, then look to see where around the world the price action has not been really obeying those fundamentals, and then find out why. Clue: think about places where current account deficits and cuts in interest rates have not always caused the currency to sell off textbook style, and why this might be.
Hey guys, This one is with HR and she said it is informational one. I should expect moer fit rather than technical questions right?
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