Wall Street Oasis logo


  • Recent
    • All Recent Content
    • Top WSO Bloggers
    • WSO Chat Room
    • Hot Topics - Week
    • Hot Topics - Month
    • Hot Topics - Year
    • Hot Topics - All Time
    • Top Comments - All Time
  • FAQs
    • Best Interviews
    • Common Questions
    • Industry Specific
    • WSO 101
    • Education
    • Recruiting
    • Life in Finance
    • WSO Company Database
    • WSO Finance Dictionary
  • Forums
    • Post Forum Topic
    • Best Interviews
    • Best Comments
    • WSO Chat Room
    • Job Search Advice
    • Investment Banking
    • Private Equity
    • Venture Capital
    • Trading
    • Consulting
    • Hedge Funds
    • Corporate Finance
    • Real Estate Finance
    • Equity Research
    • Asset Management
    • WSO Success Stories
    • Other Careers
    • Business School
    • Resume Forum
    • Wall St. Fashion
    • New User Intros
    • Monkey Around
    • WSO Products
    • Site Suggestions
  • Groups
    • Browse Groups
    • Create Group
    • My Groups
    • Non Target Networking
    • Energy Trading
    • State your salary
    • Read the Footnotes
    • Proprietary Traders
    • WSO Investment Forum
    • CFA
    • The Restructuring Group
    • Economics
    • RE Finance/Investments
  • About
    • About WSO
    • Press
    • Contact Us
    • RSS Sitemap
    • Advertise on WSO
    • WSO Discounts
    • WSO Store
  • Login
  • Sign Up!
  • Hot Topics
  • My Profile
  • Company Research
  • Modeling
  • Resume Review
  • Events
  • Interview Guides
  • Job Board
  • Intern Positions

6 Free Financial Modeling Lessons...and More.

Enter your e-mail below to get our new Free Modeling Tutorials ($200+ Value).

Wall Street Oasis » Forums » Traders Train
< previous | next >

How to Start Trading (Compliments of Bondarb)
 

  • 1
  • 2
  • next ›
  • last »
Revsly's picture
Revsly
      ST
 
 
(King Kong, 1,738
 
Points)
 on 4/20/12 at 7:45pm
stock trading.jpg

There have been a few requests to find the classic post by Bondarb, so it made sense to sticky it. This is what he wrote:

Here is how you learn about trading:

  1. Have at least 5k. If you dont have that then get it somehow, use your imagination.
  2. Set up an account on Interactive Brokers that allows your to trade futures.
  3. Pick one product that has a small sized contract...when i did this I could only trade at night so I picked Hang Seng Index Futures.
  4. Read up on the leverage inherent in futures and create a risk management plan...ie how you are going to size trades, use stops, add to positions, etc. notice you do this before you know anything about the market because it is by far the most important part of being a good trader. Discipline is what is going to make you a good trader not brilliant ideas. On 5k you will probably be trading 1 lots...ie 1 contract. That is fine.
  5. Learn how to account for your performance. Every day you should know how much you made or lost and have a good log of it. Not what the broker sends you...you should do it yourself and use them as a check. You are your own back-office and middle-office.
  6. Learn the interactive brokers execution platform inside and out. The IB platform is not much different then one I use at a large hedge fund so when your done with this you should be able to execute in a professional manner.
  7. Learn everything about the market you trade. For the case of hong Kong if thats what you picked you should know how the central bank works in that country, the politics, the composition of the stock index, valuations, etc. This will take awhile. Start by finding a local newspaper to read every day. Then go to the central bank website. Find yourself an economic calendar that shows what data is coming out in your market (they are not hard to find for free). Start very basic. Notice that you do this only after you are ready to handle all the real business of trading. Also, you should do this even if you intend on trading using mostly technical analysis...it will help.
  8. Start trading. Be careful. Your goal #1, #2, and #3 is preservation of capital. This is a learning experience you arent going to get rich trading 1 lots. Trade defensively at first. If you turn out to be a good trader what you think is defensive now you will probably realize later was insane so heir on the side of caution.
  9. If you actually do all these steps you will be a better trader and know more about markets then most kids do AFTER they complete an analyst or associate stint on a sales and trading desk...i gaurantee it.
  10. Remember what you are doing is learning a trade...you arent learning how to sell bonds to dumb central banks or how to kiss some bankers ass you are learning a skill that few have and makes you very valuable if you become good at it. Treat your work with due seriousness and you will be paid back many-fold.
Jack: They’re all former investment bankers who were laid off from that economic crisis that Nancy Pelosi caused. They have zero real world skills, but God they work hard. -30 Rock
  • trading
  • Learn to Trade
  • Traders Train
    • Credits
  •  
Cash4Gold's picture

Revsly wrote: 6) Learn

Cash4Gold
      ST
 
 
(Gorilla, 667
 
Points)
 on 6/19/10 at 11:53pm
Revsly:

6) Learn everything about the market you trade. For the case of hong Kong if thats what you picked you should know how the central bank works in that country, the politics, the composition of the stock index, valuations, etc. This will take awhile. Start by finding a local newspaper to read every day. Then go to the central bank website. Find yourself an economic calendar that shows what data is coming out in your market (they are not hard to find for free). Start very basic. Notice that you do this only after you are ready to handle all the real business of trading. Also, you should do this even if you intend on trading using mostly technical analysis...it will help.

Here is the global economic calendar I use. I trade FX so this helps with the majors:
http://www.cmegroup.com/tools-information/calendar...

I started trading FX a year ago after reading this post. I should have bookmarked it because I can think of >10 times I needed to reference it before making a trade. After being margin called a few months ago I have finally learned the lessons of discipline, staying with it mentally, getting out and taking a loss, etc. I always had the research part down, but after a year I can finally think of myself as a trader and not a gambler.

Also, for what it's worth, I started with $200. I had to get in and I knew if I didn't start with that $200 I would never get going. The account is inconveniently small, but I have definitely learned about risk management and the lessons I have learned and traders I have talked to as a result of getting in with my own money on the line have been more than worth it.

    • Credits
  • 0
  •  
HoboBanker's picture

Much appreciated. I'm going

HoboBanker
      O
 
(Baboon, 155
 
Points)
 on 6/20/10 at 6:20am

Much appreciated. I'm going to be investing with my Dad so I will be bookmarking this.

    • Credits
  • 0
  •  
econ's picture

Revsly wrote: If you actually

econ
      O
 
 
(Neanderthal, 2,419
 
Points)
 on 6/20/10 at 8:34pm
Revsly:

If you actually do all these steps you will be a better trader and know more about markets then most kids do AFTER they complete an analyst or associate stint on a sales and trading desk...i gaurantee it.

This question might be a little random, but do most kids know anything about trading when they start? Or are firms generally looking for people they think have talent (as opposed to people who seem to know much about trading)? Do most of these kids start off as traders? Or do you start off assisting traders and then slowly get taught and eased into it? I ask, because trading is a mystery to me. I have no real idea how people get their first job, where they tend to work, etc.

For my aspiring Entrepreneurial Nomads, check out my blog.

    • Credits
  • 0
  •  
danjay72's picture

im a rising junior @ u. of

danjay72
      O
 
(Monkey, 39
 
Points)
 on 6/20/10 at 10:08pm

im a rising junior @ u. of Michigan and have an etrade acct...
i can tell you the vast majority (90%ish?) of my friends don't trade, and out of the few that do, probably half have no idea what they're doing and throw money at the board and hope to get lucky.... which is how I started.

but the key thing to do is just read and learn, IMO. Yahoo message boards is pretty interesting (even if mainly bullshit, a few gold nuggets here and there), bloomberg news, read equity reports, try to understand what is going on technically (i.e. exit points and entry points), set a goal for yourself (maybe say 8% appreciation is your goal), and check out the company's website (they'll usually have an investor powerpoint up describing exactly what they do)

2 warnings, from personal experience

1) don't chase a stock. the market has a way of evening itself up. be patient
2) NEVER FALL IN LOVE WITH A STOCK. easiest way to lose money.

    • Credits
  • 0
  •  
blastoise's picture

When I started trading it was

blastoise
      O
 
(Senior Neanderthal, 4,378
 
Points)
 on 6/20/10 at 10:20pm

When I started trading it was pure shorting of stocks.

    • Credits
  • 0
  •  
eliteculture's picture

learn to use stop loss and

eliteculture
      IB
 
(Baboon, 136
 
Points)
 on 6/20/10 at 10:59pm

learn to use stop loss and trailing stop. your life will be miserable if you stay in front of computer all the time.

    • Credits
  • 0
  •  
In reply to eliteculture
aceon's picture

eliteculture wrote: learn to

aceon
      ST
 
 
(Monkey, 57
 
Points)
 on 6/20/10 at 11:41pm
eliteculture:

learn to use stop loss and trailing stop. your life will be miserable if you stay in front of computer all the time.

HORRIBLE advice. Have fun doing whatever you are doing while I'm still sitting in front of the computer picking you off for free money. See "Flash Crash" for further reference...

    • Credits
  • 0
  •  
BigRedAEM's picture

Great information. Why pick

BigRedAEM
      IB
 
(Baboon, 124
 
Points)
 on 6/21/10 at 12:34am

Great information. Why pick IB? I know their commissions are really low, is their platform also very good? Also, how strict are their requirements for opening an account? Do they closely follow the 100 trade minimum? I have an account with TradeKing but the commissions with IB are so much cheaper and they offer a lot more services if I want to branch out from stocks.

    • Credits
  • 0
  •  
talebi818's picture

this is true. started getting

talebi818
      HF
 
(Monkey, 34
 
Points)
 on 6/21/10 at 3:26am

this is true. started getting sim accounts from brokerages when i was in high school and traded everyday til i turned 19. Then i kept going at it until i was half way done with my freshman year in college where i open a live futures trading account, since then i have been trading e-minis.

Personal hands on experience in the markets is better than any internship in my opinion.

    • Credits
  • 0
  •  
In reply to balbasur
blong131's picture

balbasur wrote: When I

blong131
      ST
 
(Senior Monkey, 67
 
Points)
 on 6/21/10 at 10:56am
balbasur:

When I started trading it was pure shorting of stocks.

shameless plug, but check out my sig if you havnt already. you might like it.

also, this could be the post to get me moving. ive been learning my technicals but havnt started backtesting yet.

_________

John Tabacco's raw, unique market commentary based on real information from real short sellers:
http://www.TheDailyShortReport.com

    • Credits
  • 0
  •  
GoldenEagle2009's picture

Is Interactive Brokers the

GoldenEagle2009
      ST
 
(Monkey, 60
 
Points)
 on 6/21/10 at 1:06pm

Is Interactive Brokers the best trading platform available? Is it best to use online trading software vs downloadable platforms? Are there any other platforms i.e. ThinkOrSwim, GHOST, TT, E*Trade, Scottrade, etc that are better?

    • Credits
  • 0
  •  
Malakari's picture

What are some good books for

Malakari
      IB
 
(Orangutan, 251
 
Points)
 on 6/21/10 at 2:00pm

What are some good books for Futures trading or just trading in general (not equities)?

    • Credits
  • 0
  •  
In reply to GoldenEagle2009
danjay72's picture

GoldenEagle2009 wrote: Is

danjay72
      O
 
(Monkey, 39
 
Points)
 on 6/21/10 at 10:22pm
GoldenEagle2009:

Is Interactive Brokers the best trading platform available? Is it best to use online trading software vs downloadable platforms? Are there any other platforms i.e. ThinkOrSwim, GHOST, TT, E*Trade, Scottrade, etc that are better?

i use etrade and love it.
i hear amazing things about thinkorswim though. scottrade, from what i understand, sounds like a slightly worse version of etrade.

    • Credits
  • 0
  •  
In reply to econ
tgtrader's picture

econ wrote: Revsly wrote: If

tgtrader
      ST
 
(Monkey, 40
 
Points)
 on 6/24/10 at 10:16am
econ:
Revsly:

If you actually do all these steps you will be a better trader and know more about markets then most kids do AFTER they complete an analyst or associate stint on a sales and trading desk...i gaurantee it.

This question might be a little random, but do most kids know anything about trading when they start? Or are firms generally looking for people they think have talent (as opposed to people who seem to know much about trading)? Do most of these kids start off as traders? Or do you start off assisting traders and then slowly get taught and eased into it? I ask, because trading is a mystery to me. I have no real idea how people get their first job, where they tend to work, etc.

You would never start as an Analyst and start trading immediately (at least not your own book)... you will basically do the bitch-work for the desk for at least a year (or two, maybe more) usually. The amount of time it takes to get a book also depends on the firm, as well as your progress.

BondArb's statement on capital preservations is SPOT ON. Don't ever think "I could make X on this trade"... always focus on how much you could lose. If your risk management (such as the risk-reward ratio you use) is sound, and your ideas are solid, you should at least break even or have a positive pnl.

    • Credits
  • 0
  •  
darkxfriend's picture

Many thanks for this post.

darkxfriend
     
 
(Senior Baboon, 184
 
Points)
 on 7/5/10 at 1:51am

Many thanks for this post. For Bondarb or anyone else who has an idea about how this sort of trading should work:

1) For this type of trading where you are doing it in your own free time and on your own capital, would trading purely on fundamentals be ok, or does one need to incorporate technical analysis and charting? If it is necessary, that makes this Everest even steeper given how unique the two approaches are and (I believe) the need to really thoroughly understand each approach before actually implementing it.

2) How frequently did you change positions on average? Is 100% of your invested capital being turned over on a daily basis? Weekly? Or is this a function of trading style (from question 1) and someone who is doing something more fundamental might experience a turnover more in line with an equity investor?

3) How intensive is this? If someone's already in banking or research (but not trading) and let's say that person (let's be honest here, I'm talking about myself :) ) actually has a few hours each night. Is this something that can actually be pulled off?

4) Anyone on this board actually doing this? Would be curious to hear how things have gone thus far.

Thanks Bondarb, Revsly, and others who have contributed here.

    • Credits
  • 0
  •  
isic's picture

sweet how true.. IB is good

isic
      AM
 
(Senior Baboon, 213
 
Points)
 on 7/5/10 at 10:07am
You must be signed in to read advice below.
Sign In with FacebookSign In with Google
Connecting helps us build a vibrant community. We'll never share your info without your permission.

Sign Up with email

    • Credits
  • 0
  •  
In reply to darkxfriend
Bondarb's picture

darkxfriend wrote: Many

Bondarb
      HF
 
 
(Neanderthal, 2,359
 
Points)
 on 7/5/10 at 1:26pm
    • Credits
  • 1
  •  
eliteculture's picture

I love to do credit

eliteculture
      IB
 
(Baboon, 136
 
Points)
 on 7/5/10 at 10:39pm
    • Credits
  • 0
  •  
investor247's picture

Wikinvest's platform is very

investor247
     
 
(Chimp, 6
 
Points)
 on 7/6/10 at 11:24pm
    • Credits
  • 0
  •  
levelworm's picture

May I ask how much capital is

levelworm
      O
 
(Orangutan, 285
 
Points)
 on 7/15/10 at 7:33am
    • Credits
  • 0
  •  
In reply to GoldenEagle2009
calvynk's picture

Be careful when moving away

calvynk
      O
 
(Chimp, 14
 
Points)
 on 8/6/10 at 6:59pm
    • Credits
  • 0
  •  
Bi-Winning's picture

After almost a year of

Bi-Winning
     
 
(Gorilla, 708
 
Points)
 on 4/2/11 at 5:11pm

I win here, I win there...

    • Credits
  • 0
  •  
In reply to levelworm
Bi-Winning's picture

levelworm wrote: May I ask

Bi-Winning
     
 
(Gorilla, 708
 
Points)
 on 4/2/11 at 5:15pm

I win here, I win there...

    • Credits
  • 0
  •  
Linfone's picture

I started with about 10k,

Linfone
      ST
 
(Baboon, 161
 
Points)
 on 4/3/11 at 12:52am

"All I've ever wanted was an honest week's pay for an honest day's work."

    • Credits
  • 0
  •  
In reply to Linfone
Bi-Winning's picture

Linfone wrote: I started with

Bi-Winning
     
 
(Gorilla, 708
 
Points)
 on 4/3/11 at 1:09am

I win here, I win there...

    • Credits
  • 0
  •  
gossard13's picture

I second the 'download the

gossard13
      O
 
(Senior Chimp, 28
 
Points)
 on 4/18/12 at 2:45pm
    • Credits
  • 0
  •  
In reply to gossard13
rynofrowan's picture

gossard13: The best edge you

rynofrowan
      ST
 
(Baboon, 171
 
Points)
 on 4/19/12 at 1:11am

Moving tonnes of product. Making fat stacks.

    • Credits
  • -1
  •  
Macro Arbitrage's picture

I have to agree that the only

Macro Arbitrage
      HF
 
(King Kong, 1,404
 
Points)
 on 4/19/12 at 6:10am

"I swear, by my life and my love of it, that I will never live for the sake of another man, nor ask another man to live for mine."

    • Credits
  • -2
  •  
In reply to Macro Arbitrage
rynofrowan's picture

Macro Arbitrage: I have to

rynofrowan
      ST
 
(Baboon, 171
 
Points)
 on 4/19/12 at 6:17am

Moving tonnes of product. Making fat stacks.

    • Credits
  • -1
  •  
Macro Arbitrage's picture

I was on a 'roll'- markets

Macro Arbitrage
      HF
 
(King Kong, 1,404
 
Points)
 on 4/19/12 at 6:40am

"I swear, by my life and my love of it, that I will never live for the sake of another man, nor ask another man to live for mine."

    • Credits
  • -2
  •  
Macro Arbitrage's picture

And with all due respect,

Macro Arbitrage
      HF
 
(King Kong, 1,404
 
Points)
 on 4/19/12 at 6:32am

"I swear, by my life and my love of it, that I will never live for the sake of another man, nor ask another man to live for mine."

    • Credits
  • -3
  •  
gossard13's picture

If I could trade "trading

gossard13
      O
 
(Senior Chimp, 28
 
Points)
 on 4/19/12 at 10:13am
    • Credits
  • 0
  •  
Maximus Decimus Meridius's picture

Come on guys, don't troll

Maximus Decimus...
      ST
 
 
(Gorilla, 658
 
Points)
 on 4/19/12 at 11:59am
    • Credits
  • 1
  •  
In reply to Bi-Winning
Bondarb's picture

Bi-Winning: After almost a

Bondarb
      HF
 
 
(Neanderthal, 2,359
 
Points)
 on 4/19/12 at 8:10pm
    • Credits
  • 1
  •  
BTbanker's picture

I've used every equities

BTbanker
      IB
 
(Senior Neanderthal, 5,340
 
Points)
 on 4/20/12 at 7:54pm

"A man generally has two reasons for doing anything. One that sounds good, and the real one." - J.P. Morgan

    • Credits
  • 0
  •  
Relinquis's picture

Cool thread. Great to see

Relinquis
      RE
 
 
(Neanderthal, 2,186
 
Points)
 on 4/20/12 at 8:19pm

relinquis... Killing the GMAT this December; Over/Under set at: 725 GMATs.

    • Credits
  • 2
  •  
In reply to Macro Arbitrage
Bondarb's picture

Macro Arbitrage: I was on a

Bondarb
      HF
 
 
(Neanderthal, 2,359
 
Points)
 on 4/20/12 at 8:48pm
    • Credits
  • 2
  •  
In reply to Macro Arbitrage
M Friedman's picture

Macro Arbitrage: My models

M Friedman
     
 
(King Kong, 1,007
 
Points)
 on 4/20/12 at 10:04pm

See my WSO blogs here.

    • Credits
  • 1
  •  
In reply to Bondarb
Macro Arbitrage's picture

Bondarb: Macro Arbitrage: I

Macro Arbitrage
      HF
 
(King Kong, 1,404
 
Points)
 on 4/21/12 at 5:30am

"I swear, by my life and my love of it, that I will never live for the sake of another man, nor ask another man to live for mine."

    • Credits
  • 0
  •  
In reply to Relinquis
Macro Arbitrage's picture

Relinquis: Macro Arb, Serious

Macro Arbitrage
      HF
 
(King Kong, 1,404
 
Points)
 on 4/21/12 at 5:31am

"I swear, by my life and my love of it, that I will never live for the sake of another man, nor ask another man to live for mine."

    • Credits
  • 0
  •  
t4s's picture

Knowing your platform,

t4s
     
 
(Monkey, 42
 
Points)
 on 4/21/12 at 8:02am
    • Credits
  • 0
  •  
Macro Arbitrage's picture

^ You're obviously not

Macro Arbitrage
      HF
 
(King Kong, 1,404
 
Points)
 on 4/21/12 at 8:50am

"I swear, by my life and my love of it, that I will never live for the sake of another man, nor ask another man to live for mine."

    • Credits
  • 0
  •  
whatwhatwhat's picture

i hate my compliance

whatwhatwhat
      HF
 
(King Kong, 1,431
 
Points)
 on 4/21/12 at 9:10am
    • Credits
  • 0
  •  
In reply to Macro Arbitrage
t4s's picture

Macro Arbitrage: ^ You're

t4s
     
 
(Monkey, 42
 
Points)
 on 4/21/12 at 10:51am
    • Credits
  • 0
  •  
Firefox's picture

Am I the only one here who

Firefox
      HF
 
(Orangutan, 275
 
Points)
 on 4/21/12 at 11:50pm
    • Credits
  • 0
  •  
In reply to Macro Arbitrage
wallstreetballa's picture

Macro Arbitrage: I was on a

wallstreetballa
      ST
 
(Gorilla, 675
 
Points)
 on 4/22/12 at 1:03am
    • Credits
  • 0
  •  
Macro Arbitrage's picture

The bottom could also

Macro Arbitrage
      HF
 
(King Kong, 1,404
 
Points)
 on 4/22/12 at 4:31am

"I swear, by my life and my love of it, that I will never live for the sake of another man, nor ask another man to live for mine."

    • Credits
  • 0
  •  
Sean518's picture

Has anyone here traded

Sean518
      ST
 
(Senior Orangutan, 398
 
Points)
 on 4/24/12 at 11:25pm
    • Credits
  • 0
  •  
Macro Arbitrage's picture

And the crash of summer '12

Macro Arbitrage
      HF
 
(King Kong, 1,404
 
Points)
 on 5/9/12 at 8:47pm

"I swear, by my life and my love of it, that I will never live for the sake of another man, nor ask another man to live for mine."

    • Credits
  • 0
  •  
StephanFranke31's picture

anyone have good links to

StephanFranke31
     
 
(Chimp, 6
 
Points)
 on 5/13/12 at 2:03am
    • Credits
  • 0
  •  
  • 1
  • 2
  • next ›
  • last »

6 Free Financial Modeling Lessons...Straight to Your Inbox.

Confirm your name and e-mail below to get our best tips

Monkey Stats
Account information
We respect your Name and E-mail privacy. By joining you accept our terms of service.
Skip this step
Terms and Conditions of Use
These are the "Terms and Conditions" under which you may use WallStreetOasis.com. Please read this page carefully including the Privacy Policy below. If you do not accept the Terms and Conditions and Privacy Policy stated here, do not use this web site or any services offered by this web site. By using this web site, you are indicating your acceptance to be bound by the terms of these Terms and Conditions and Privacy Policy. IB Oasis Corp. (the "Company") may revise these Terms and Conditions and Privacy Policy at any time by updating this posting. You should visit this page periodically to review the Terms and Conditions and Privacy Policy, because they are binding on you. The terms "You" and "User" as used herein refer to all individuals and/or entities accessing this web site for any reason.

Neither WallStreetOasis.com, IB Oasis Corp. nor employees of IB Oasis Corp. are investment advisors. The purpose of this website is NOT to give any advice on your personal investment strategy. If you base your investment decisions on content of this website, you may lose part or all of your money.

You should not violate any other law or regulation, including, without limitation, the rules and regulations of the U.S. Securities and Exchange Commission and the national or other securities exchanges, especially including the rule against making false or misleading statements to manipulate the price of a security or the rule requiring you to disclose any compensation you may receive for describing a security.

You should not access WallStreetOasis.com by any means other than through the interfaces we provide for use in accessing our services or use any automated means, including, without limitation, agents, robots, scripts, or spiders, to access, monitor, copy, or harvest data from any part of our sites, except those automated means that we have approved in advance and in writing.

The Company, in its sole discretion, reserves the right to remove any postings, or deny access by any individuals, for any reason or no reason.

If you see something that you feel is a violation of the these Terms and Conditions, please notify us by emailing wallstreetoasis at wallstreetoasis.com.

We reserve the right to change the Terms and Conditions at any time. Changes will be posted on the applicable web page.

Use of Material.

The Company authorizes you to view and download a single copy of the material on www.WallStreetOasis.com (the "Web Site") solely for your personal, noncommercial use. By using the Web Site you are giving the Company the sole right to use any and all content you generate or publish on the site for commercial, non-commercial or promotional purposes. This includes any and all forum posts, comments, blog posts or any other material you generate on the Web Site.

The contents of this Web Site, such as text, graphics, images, logos, button icons, software and other items (collectively, "Material"), are protected under both United States and foreign copyright, trademark and other laws. All Material is the property of the Company or its content suppliers or clients. The compilation (meaning the collection, arrangement and assembly) of all content on this Web Site is the exclusive property of the Company and protected by U.S. and international copyright laws. Unauthorized use of the Material may violate copyright, trademark, and other laws. You must retain all copyright, trademark, service-mark and other proprietary notices contained in the original Material on any copy you make of the Material. You may not sell or modify the Material or reproduce, display, publicly perform, distribute, or otherwise use the Material in any way for any public or commercial purpose. The use of the Material on any other web site or in a networked computer environment for any purpose is prohibited.

You shall not copy or adapt the HTML code that the Company creates to generate its pages. It is also protected by the Company?s copyright.

Acceptable Site Use.

General Rules: Users may not use the Web Site in order to transmit, distribute, store or destroy material (a) in violation of any applicable law or regulation, (b) in a manner that will infringe the copyright, trademark, trade secret or other intellectual property rights of others or violate the privacy, publicity or other personal rights of others, or (c) that is defamatory, obscene, threatening, abusive or hateful.

Web Site Security Rules. Users are prohibited from violating or attempting to violate the security of the Web Site, including, without limitation, (a) accessing data not intended for such user or logging into a server or account which the user is not authorized to access, (b) attempting to probe, scan or test the vulnerability of a system or network or to breach security or authentication measures without proper authorization, (c) attempting to interfere with service to any user, host or network, including, without limitation, via means of submitting a virus to the Web Site, overloading, "flooding", "spamming", "mailbombing" or "crashing", (d) sending unsolicited e-mail, including promotions and/or advertising of products or services, or (e) forging any TCP/IP packet header or any part of the header information in any e-mail. Violations of system or network security may result in civil or criminal liability. The Company will investigate occurrences which may involve such violations and may involve, and cooperate with, law enforcement authorities in prosecuting users who are involved in such violations.

Specific Prohibited Uses.

The Company specifically prohibits any use of the Web Site, and all users agree not to use the Web Site, for any of the following:

  • Posting any incomplete, false or inaccurate biographical information or information which is not your own accurate resume
  • Using any device, software or routine to interfere or attempt to interfere with the proper working of this Web Site or any activity being conducted on this site.
  • Taking any action which imposes an unreasonable or disproportionately large load on this Web Site?s infrastructure.
  • If you have a password allowing access to a non-public area of this Web Site, disclosing to or sharing your password with any third parties or using your password for any unauthorized purpose.
  • Notwithstanding anything to the contrary contained herein, using or attempting to use any engine, software, tool, agent or other device or mechanism (including without limitation browsers, spiders, robots, avatars or intelligent agents) to navigate or search this Web Site other than the search engine and search agents available from the Company on this Web Site and other than generally available third party web browsers (e.g., Netscape Navigator, Microsoft Explorer).
  • Attempting to decipher, decompile, disassemble or reverse engineer any of the software comprising or in any way making up a part of the Web Site.
  • Aggregating, copying or duplicating in any manner any of the materials or information available from the Web Site.
  • Framing of or linking to any of the materials or information available from the Web Site.

User Information.

When you register for the Web Site, you will be asked to provide the Company with certain information including, without limitation, a valid email address (your "Information"). In addition to the terms and conditions that may be set forth in any privacy policy on this Web Site, you understand and agree that the Company may disclose to third parties, on an anonymous basis, certain aggregate information contained in your registration application. The Company reserves the right to offer third party services and products to you based on the preferences that you identify in your registration and at any time thereafter; such offers may be made by the Company or by third parties. Please see the Company's Privacy Policy below for further details regarding your Information.

Registration and Password.

You are responsible for maintaining the confidentiality of your information and password. You shall be responsible for all uses of your registration, whether or not authorized by you. You agree to immediately notify the Company of any unauthorized use of your registration or password.

The Company's Liability.

As a condition to your use of this site, you release the Company (and our agents and employees) from claims, demands and damages (actual and consequential, direct and indirect) of every kind and nature, known and unknown, suspected and unsuspected, disclosed and undisclosed, arising out of or in any way connected with such disputes. If you are a California resident, you waive California Civil Code d1542, which says: "A general release does not extend to claims which the creditor does not know or suspect to exist in his favor at the time of executing the release, which if known by him must have materially affected his settlement with the debtor."

We are under no legal obligation to, and generally do not, control the information provided by other users which is made available through the Web Site. By its very nature, other people?s information may be offensive, harmful or inaccurate, and in some cases will be mislabeled or deceptively labeled. We expect that you will use caution and common sense when using this Web Site.

The Material may contain inaccuracies or typographical errors. The Company makes no representations about the accuracy, reliability, completeness, or timeliness of the Web Site or the Material. The use of the Web Site and the Material is at your own risk. Changes are periodically made to the Web Site and may be made at any time.

You acknowledge and agree that you are solely responsible for the content and accuracy of any resume or material contained therein placed by you on the Web Site and you agree to let any users that are identified as recruiters (designated in the sole discretion of the Company) to have access to your resume.

The Company is not to be considered to be an employer with respect to your use of the Web Site and the Company shall not be responsible for any employment decisions, for whatever reason made, made by any entity posting jobs on the Web Site.

THE COMPANY DOES NOT WARRANT THAT THE WEB SITE WILL OPERATE ERROR-FREE OR THAT THE WEB SITE AND ITS SERVER ARE FREE OF COMPUTER VIRUSES OR OTHER HARMFUL MECHANISMS. IF YOUR USE OF THE WEB SITE OR THE MATERIAL RESULTS IN THE NEED FOR SERVICING OR REPLACING EQUIPMENT OR DATA, THE COMPANY IS NOT RESPONSIBLE FOR THOSE COSTS.

THE WEB SITE AND MATERIAL ARE PROVIDED ON AN "AS IS" BASIS WITHOUT ANY WARRANTIES OF ANY KIND. THE COMPANY, TO THE FULLEST EXTENT PERMITTED BY LAW, DISCLAIMS ALL WARRANTIES, WHETHER EXPRESS OR IMPLIED, INCLUDING THE WARRANTY OF MERCHANTABILITY, FITNESS FOR PARTICULAR PURPOSE AND NON-INFRINGEMENT. THE COMPANY MAKES NO WARRANTIES ABOUT THE ACCURACY, RELIABILITY, COMPLETENESS, OR TIMELINESS OF THE MATERIAL, SERVICES, SOFTWARE, TEXT, GRAPHICS, AND LINKS.

Disclaimer of Consequential Damages.

IN NO EVENT SHALL THE COMPANY, ITS SUPPLIERS, OR ANY THIRD PARTIES MENTIONED ON THE WEB SITE BE LIABLE FOR ANY DAMAGES WHATSOEVER (INCLUDING, WITHOUT LIMITATION, INCIDENTAL AND CONSEQUENTIAL DAMAGES, LOST PROFITS, OR DAMAGES RESULTING FROM LOST DATA OR BUSINESS INTERRUPTION) RESULTING FROM THE USE OR INABILITY TO USE THE WEB SITE AND THE MATERIAL, WHETHER BASED ON WARRANTY, CONTRACT, TORT, OR ANY OTHER LEGAL THEORY, AND WHETHER OR NOT THE COMPANY IS ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.

Links to Other Sites.

The Web Site may contain links to third party web sites. These links are provided solely as a convenience to you and not as an endorsement by the Company of the contents on such third-party Web sites. The Company is not responsible for the content of linked third-party sites and does not make any representations regarding the content or accuracy of materials on such third party Web sites. If you decide to access linked third party Web sites, you do so at your own risk.

No Resale or Unauthorized Commercial Use.

You agree not to resell or assign your rights or obligations under these Term of Use. You also agree not to make any unauthorized commercial use of the Web Site.

Limitation of Liability.

The aggregate liability for the Company to you for all claims arising from the use of the Materials is limited to $1.

Termination.

The Company reserves the right, at its sole discretion, to pursue all of its legal remedies, including but not limited to immediate termination of your registration with or ability to access the Web Site and/or any other service provided to you by the Company, upon any breach by you of these Terms and Conditions or if the Company is unable to verify or authenticate any information you submit to the Web Site registration with or ability to access the Web Site.

Indemnity.

You agree to defend, indemnify, and hold harmless the Company, its officers, directors, employees and agents, from and against any claims, actions or demands, including without limitation reasonable legal and accounting fees, alleging or resulting from your use of the Material or your breach of the terms of these Terms and Conditions. The Company shall provide notice to you promptly of any such claim, suit, or proceeding and shall assist you, at your expense, in defending any such claim, suit or proceeding.

General.

The Company makes no claims that the Materials may be lawfully viewed or downloaded outside of the United States. Access to the Materials may not be legal by certain persons or in certain countries. If you access the Web Site from outside of the United States, you do so at your own risk and are responsible for compliance with the laws of your jurisdiction. These Terms and conditions are governed by the internal substantive laws of the State of New York, without respect to its conflict of laws principles. Jurisdiction for any claims arising under this agreement shall lie exclusively with the state or federal courts within New York, New York. If any provision of these Terms and Conditions are found to be invalid by any court having competent jurisdiction, the invalidity of such provision shall not affect the validity of the remaining provisions of these Terms and Conditions, which shall remain in full force and effect. No waiver of any term of these Terms and Conditions shall be deemed a further or continuing waiver of such term or any other term. Except as expressly provided in additional terms of use for areas of the Web Site a particular "Legal Notice," or Software License or Material on particular Web pages, these Terms and Conditions constitute the entire agreement between you and the Company with respect to the use of Web Site. No changes to these Terms and Conditions shall be made except by a revised posting on this page.

PRIVACY POLICY

The Company recognizes that you are concerned about privacy. We are committed to preserving your privacy and safeguarding your sensitive information. The following statement describes the general information-gathering and usage practices of our sites.

Our staff, contractors, Internet service providers and others involved in this site follow this policy or similarly strict policies regarding your Information.

Disclosure

The Company is committed to fully disclosing our policies regarding the collection, use, maintenance, disclosure and security of personal information obtained from users of our site. The term "personal information" includes a name, address, email address, or any other information which could be used to contact you directly or to identify you personally.

Use and Disclosure Limitations

The Company only uses personal information about its Web site users for specific purposes. We do not share user information with third parties except when we have told users about the disclosures, when we have prior consent, or when required by law.

Use Policy: When the Company gathers personal information from users, we ask for permission first. We also disclose, at the time of collection, how the information will be used by us. Personal information is used for activities such as auto-completion of commonly-used forms and helping us contact you when you solicit information from us.

Disclosure Policy: We do not normally disclose personal information to anyone outside of the Company unless we have previously informed users about the disclosures. However, some data may be used from time to time by outside contractors, including auditors or consultants, to assist us in carrying out necessary financial or operational activities. These uses will be consistent with this privacy policy and all contractors using this potential personal information must agree to safeguard it, to use it only for the authorized purpose, and to return it or destroy it upon completion of the activity.

The Company might be required to disclose personal information in response to a valid legal process such as a subpoena, search warrant or court order.

Although unlikely, it is possible that we may have to make certain disclosures to ensure the security of our Web site, to protect its integrity, or to take precautions against potential liability. In any of these situations, we will take any reasonable steps to limit the scope of the data disclosed.

Web Logs: The Company maintains standard Web logs that record basic information about visitors to our Web site. These logs contain: * The Internet domain from which you came to our Web site. * Your IP address. An IP address is a series of numbers which uniquely identifies your connection to the Internet. Although it is possible in some instances, certain types of IP addresses may be used by interested persons to identify users but we do not attempt to identify users in this way. * The type of browser (e.g., Internet Explorer or Netscape) and operating system (e.g., Windows 98) you use. * The date and time you visited the site, and the pages you saw.

We use Web log information to design our Web site, identify popular features, and in similar ways. We do not try to identify individuals from Web logs or to link Web logs to other user information. However, if someone tries to damage our Web site or use it in an unauthorized or illegal way, we may share Web log information with law enforcement agencies. The Company may provide aggregate information such as the number of users who visit particular pages of the site, or the number of people who link to certain external sites from our site, to other parties.

Changes to Privacy Policy

The Company's features and services will change over time and our information-gathering practices and policies may also change.

While our philosophy of protecting user information from inappropriate uses and disclosures will not change, this policy will be updated occasionally to include any change that materially affects the collection, maintenance, use, or disclosure of personal information.

Forum Topics

  • New
  • Active
  • Rank
  • Comments
  • Thoughts on this? Heister brings up a good question: <em>"Who else is going to the job? Which senior Goldman partner is planning on retiring and needs to shield millions in stock options from taxes?"</em> via Bloomberg: <strong>Obama Says Bernanke Has Been at Fed...
    Bye Bye Bernanke? Who Would Be Next?
  • So I've been thinking about looking into getting a part time internship at an AM firm at my college town during the fall semester to buff my resume up a little more for recruiting. My schedule isn't too tough, and I'd probably be able to do around 20-30 hours a week if I include...
    Part Time AM Internship
  • For those of you analysts that wear glasses or contacts... which of the two would you recommend? Forget about the way glasses look.... for the purposes of comfort and practicality, are one them easier on the eyes at 2am after staring at a screen for 10 hours? I'm afraid contacts might dry...
    Glasses or Contacts?
  • Did a pretty extensive search but there wasn't too much information out there. Can anyone provide some color on the pay/lifestyle/exit opps at internal strategy/M&A desks at BBs? It seems like at some banks, this desk is more of a back office role with very good hours but minimal...
    Internal strategy and M&A at a BB
  • Proposed Answer: The pay is atrocious, there is virtually no promotion potential, and the work is not challenging enough. Is this a good answer? If I was to give one answer, which one is...
    "What is the worst part of your job" interview question
  • So all new users to WSO get 6 free financial modeling lessons, 5 of my best tips for networking and my best tips for interviewing over the first month of being a user. Tonght I got a response from one of my networking tips e-mails from a slightly older gentleman that is a "financial...
    Why is this Quant so Angry and So Out of Touch?
  • Assume no CD experience pre-MBA. My thoughts are that working in CD requires making long-term investments (albeit strategic/operational, as opposed to financial), so it may force one to think like a long-term owner, a la value-oriented investing. If possible, how long should it take in CD...
    Post-MBA Corporate Development --> Fundamental/Value HF ... good path to try?
  • Does anyone have PE recruiting resources they'd be willing to share/ trade? I'm looking for modeling tests (with solutions) and have a few tests from top tier funds to trade in exchange. Any other recruiting resources would be appreciated as well. Please PM me....
    PE recruiting resources
  • Hi all - As i have been looking through this site, i have found their seems to be a lack on anything Australian. While that is understandable seeming as the industry is US focused, i thought i'd take the opportunity to try and develop a useful collection of tid-bits and facts by sharing...
    Answering Australian I-Banking Questions!
  • As summer rolls around, many folks leave the office a little earlier on Thursday or Friday nights to make it out for a cocktail event or weekend away from town. There will be a solid amount of extra-industry networking going on, to say the least. And by that I mean sloppy cocktail parties. But...
    Summer Cocktail Events - 5 Tips to Keep the Conversation Flowing
  • ...
    -
  • Hi everyone, I got admitted in the MSF programs at Olin and McCombs recently. Both B.schools are well recognized in their respective regions but I am very confused because of the following factors. Any suggestions will be highly appreciated. I would like to work in IB/ Asset Management. I...
    McCombs MSF or Olins MSF(corp track)
  • Is it possible to get sponsored for series 7 as an undergraduate intern? The company is indeed a member of FINRA. Was thinking of reaching out to one of the executives. Any advice or suggestions are greatly...
    Series 7 while on undergrad internship
  • I've supposedly had one unread PM since registering... but there's clearly no new messages there. Not a big deal but it is annoying, any way to fix...
    "1 unread message"
more

Upcoming Events

  • Financial & Valuation Modeling Boot Camp (Los Angeles)
    Jun 20 2013 - 8:00am - Jun 22 2013 - 5:00pm
  • London WSO Drinks
    Jun 20 2013 - 2:30pm - 4:30pm
  • Financial and Valuation Modeling Boot Camp (San Francisco)
    Jun 27 2013 - 9:00am - Jun 28 2013 - 5:30pm
  • Crowdfunding Conference, June 27, The Yale Club New York
    Jun 27 2013 - 11:30am - 7:30pm
  • WSO Conference 2013 - New York City
    Jun 29 2013 - 10:00am
more

Highest Ranked Content

  • Week
  • Month
  • Year
  • All Time
  • Comments
<em>Mod note: make sure to see the great comment below by CompBanker</em> I come from a small town where nobody had ever heard of consulting or IB. I was fortunate enough to attend a top target college (a good Ivy) and land a gig in IB at a BB/EB. I'm starting full time this...
Finance Culture - Personalities
<strong>Background</strong> I randomly discovered WSO nearly seven years ago just weeks after I secured a FT MM IB position. The website was extremely nascent at the time with only a few thousand registered users. The majority of the users were college students with only a handful...
How WSO has enhanced my IB/PE career
After over one year in the making, the <strong><a href="http://www.wallstreetoasis.com/2013-wso-compensation-report-full">2013 WSO Compensation Report</a></strong> is here! Access to the FULL 108 page 2013 WSO Compensation Report is <strong>100%...
2013 WSO Compensation Report has Arrived
Where do i even start..I learned so much from this forum. The brutally honest opinions, sincere willingness to help, the technical information and random tips on everything has been absolutely crucial for me landing this offer. Coming from a non-target I didnt get that 3rd year SA position at...
Thank you WSO! Got my FT Offer! ADVICE NEEDED
When I first started as a PE analyst, I constantly struggled with judging the amount of time I should spend on reviewing sourced deals. How much time is enough to really get a handle on the company’s revenue streams? How granular do I need my analysis to be on industry threats? With this...
Misguided Efforts: A Cautionary Tale
Fellow Primates, We are looking for 1-2 students on each campus to help WSO in its sales efforts to student clubs/career centers, and overall promotion at your school both online and on the ground. Below is a description of the position and benefits...thanks in advance for your help! <a...
WSO is Looking for Campus Reps For Summer/Fall 2013 (and beyond)
Many of the questions that have come in surround recruiting for front office Wall Street careers from a non-target so we’ll start with some ideas for recruiting, move on to interviewing, preparing for the job and finally long-term career management advice. Before we begin, it has been...
Stand Out as a Non-Target: Recruiting (Part 1 of 4)
Any Asset Management people here who could give me some insights on it, such as the nature of the work, the pay, the hours, the potential for career advancement, ect? I was looking into IB before but I've decided that I would rather pursue a career that's more intellectually...
Asset Management a better choice than Investment Banking?
<img src="//img.pandawhale.com/48721-Sexually-Oblivious-Female-Meme-Ze2w.png" alt="Sexually Oblivious Female Meme - Favorite Position? I would like to be a CEO.">
If you could be the richest person in the world with your dream job only as a public virgin forever would you do it?
<em>Mod Note: Blast from the Past - "Best of Eddie" - This one is from June 2011.</em> <em><strong><u>Freeriding</u> :</strong> The illegal activity of buying a stock and selling it before paying for the purchase.</em> - <a...
Come On and Take a Free Ride
more

Recent Jobs

  • Real Estate Investment Banking Analyst
  • Funded Internet Startup Seeks Corporate Clients Managers
  • Financial Research Associate for Funded Growth-Stage Internet Startup
  • Business Development Associate
  • Finance/Business Internship in Bejing w/ a Wall Street Company
more



Sell Tickets Online through Eventbrite

Poll

Why would you NOT go to the 2013 WSO Conference? :
View the current poll results.

Silver Banana Rankings

  • Silver Banana Leaders
  • Soiled Monkeys
UserSilver Bananas
Edmundo Braverman1161
TNA1120
CompBanker935
happypantsmcgee744
IlliniProgrammer726
UFOinsider641
TheKing625
BlackHat594
rufiolove439
Nouveau Richie425
more

Top WSO Members

  • Total Bananas
  • Active Monkeys
UserBanana Points
Edmundo Braverman14702
TNA13710
WallStreetOasis.com12192
UFOinsider10462
happypantsmcgee9627
IlliniProgrammer9258
CompBanker8737
AndyLouis6117
Siberian Husky5862
monty095426
more

New Groups

  • Houston Targets
  • Belgium going Wall Street
  • Liberal Arts Colleges Graduates
  • McCombs Monkeys (University of Texas at Austin)
  • WSO Pittsburgh
  • Denver Professionals
  • Minneapolis Bankers
  • Non-Target Networking in NYC
  • Prep School Bankers
  • Commercial Real Estate
more

© 2006-2012 WallStreetOasis.com | All Rights ReservedAdvertise | About Us | Contact Us | FAQs | Site Map | Privacy Policy

As Seen In

Sister Site

Syndicate content