How to break into trading? - High quant background?

Question

Heya,

So what different backgrounds do you need? For example, if you want to trade fixed income securities or options, don't you need some type of mathematical background? (In that case, is an MFE a good choice?)

Whereas equities, you don't necessarily need a "highly quant," background?

Correct me if I'm wrong, I'm kind of new to the whole trading scene.

Gekko21 · Accepted Answer

Starting NOW, go to your school's career services and look at the alumni database that lists alumni and where they work/what they do. Every college has one. You can use this to find an internship in the Summer, but use this to start networking for junior year. Make a well crafted email (three paragraphs, similar format to cover letter) First paragraph will always change depending on who you are emailing/what they do/you interests in what they do. Second paragraph stays the same and says your skills and what you have done to date.

Bondarb · Answer

I am going to assume you cannot get a job through campus recruiting.  I was in the same spot when i was in college...here's what i would do:

1)first of all if you have a year of shool left start trading now.  Fund an account with $5k and start trading 1 lots of equity or commodity futures. Read extensively about risk management, trade with tight stops, and generally be very discplined.  If you have classes during the day pick an asian market to trade at night...in fact asian markets are preferable.  Become expert in the market/country you trade.

Bondarb · Answer

pplstuffOP should listen to sirtradesalot...

OP, take this example...
A firm has $10B AUM. They are willing to spend 2.5% find abnormal returns equal to or greater than that 2.5%.
So they have a pot of $250mm to spend to find these opportunities.  That will buy them about a thousand MBAs do to this work.

What makes you think you (alone, or with the help of your one guy) can find more alpha than this firm can??? I mean, they have a thousand guys who have studied finance doing the same thing you're trying to do by yourself.  A quick Google search shows the largest fund AUM is ~$60B.

glosed · Answer

protectedclassYou go to a top target AND are on an athletic team?  I know there are at least 10 of your 'bros' working as traders out there that graduated recently.  If they liked you, they should be able to give you a shot at scoring an interview.

Yep, interviewed with several of them at a top firm in Chicago (not personal friends with them but I knew who they were), ended up getting waitlisted and cut after final round.

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How to break into trading? - High quant background?

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