Call all algo traders...
Hey all,
It's been a while but AH is back!
I'm specifically looking for algo traders or quants here. I did my S&T internship at a BB, graduated college (Finance) 2012, started full time derivatives trading at a reputable trading firm (market maker), and left in the spring. The more I market make, the more I think it's pointless and the profits unsustainable. On top of that, I'm hearing many market makers are doing pretty terribly, which is not all that surprising given the their strategies, or the lack thereof.
Long story short, I really want to build a better computer science skillset. Have considered doing Financial Engineering program, but personally feel that 1) it's too redundant with my undergrad degree, and 2) who knows if such a degree will be relevant in 5 years time - I don't want to have to go back to school again later on.
So, my main interest is in Master of CS programs, so that 1) I could get into algo trading, and 2) in case I lose interest, I can get a tech-related job, which is where the future seems to be anyway.
The trouble is, most top programs only admit those who did CS for undergrad. What's the best course of action here? Self-teach? Take a few classes (Illinois CS Online or Baruch C++ online?) then apply to CMU's MSCF program?
Been mauling this over for some time now. Any advice would be appreciated.
most places dont require you to have a CS degree, although i did consider the baruch C++ course as well, but will test you on your programming. I've always been self taught at this, so as long as you can do everything, the courses might be a bit expensive, but you do get the access to alumni etc. more education vs. experience in the current market seems a poor trade, and get the hell out of option market making electronically. retail or gtfo.
Financial engineering is pretty different from finance, although you're right in that it's a niche skillset that you may or may not want to pursue. In terms of computer science, the best course of action is probably just to take MOOCs (such as those on Coursera) since trading firms don't care as much about your degrees/certifications anyway; they tend to look at your skillset.
So you're doing manual market making? What product? Curious as to why you think it's unsustainable. Algo marketmaking in certain products are definitely still very profitable.
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