Tear cover letter for trading apart?

MQuantHello, here is my cover letter with which I want to apply to a Trading Graduate Programme position at a European bank in London. I am happy for any hints/tips on wording/grammar to content to "scrap it because ...". Thank you very much in advance :)

Dear Sir or Madam,

Having just completed my PhD studies in Mathematics at Munich University in Germany, I am now applying for your Graduate Programme XXX_Trading in London.

I first invested money in the market based on fundamental analysis. I started before the burst of the dot-com bubble, thus learning how fast you can make money and how much faster you can lose more of it again. I later made extensive research regarding technical analysis, which didn’t turn me to a millionaire either. Ultimately, I came to value the attractiveness of arbitrage opportunities which arise in the context of bonds by working for an asset management boutique. During this last internship I improved their risk management and solved operational problems by programming various tools in C++ as well as Excel/VBA. The high references I received for my work there as well as for my internship at a management consultancy indicate that I can successfully use and communicate my analytical skills in a team. As for my academic studies, I have received a price for the best Master's and PhD thesis in my class.

I am confident that your Graduate Programme provides an attractive professional introduction into trading, something that I am eager to get after having dealt with such issues only in private. Regarding my long-term goal of becoming a fund manager, I am certain that XXX as a large European player does provide challenging opportunities to use and expand my skills.

That’s why I look forward to further discussing my qualifications with you. Should you require any additional information please feel free to contact me at XXX_mobile or XXX_email. Thank you very much for your time and consideration.

Sincerely, XXX

Just being a bit pernickety, its 'prize' not 'price'. Though they might put price tags on some theses.

I think the letter is fine, it shows you are interested in trading and that you've tried a bit before yourself. I'm guessing any technical know-how is covered in your resume/CV. If not, I'd suggest dropping a few technical terms to show that what you've learnt is actually useful.

MQuantThat’s why I look forward to further discussing my qualifications with you. Should you require any additional information please feel free to contact me at XXX_mobile or XXX_email. Thank you very much for your time and consideration.

"That's why" is too informal. Simply leaving this sentence out (so you start "Should...") is enough. Don't use abbreviations in a formal letter ('This is why' might do it)

MQuanthow fast you can make money and how much faster you can lose more of it again.

"how quickly one can gain and, if not cautious, lose money"

etc.

Can I ask what kind of mathematics your PhD was/is in?