I'm a freshman at the University of Michigan majoring in Economics and minoring in Mathematics. I need some guidance in getting a trading job and ideas of what I should do and take advantage of before I graduate. What skills is essential to become a trader? How can I become a trader? I might transfer to Ross if I'm good enough to get in, but I highly doubt I will. My goal is not to be at a top firm (though, that would be nice) but at a middle firm.
Thanks
Don't.
Seriously though.... Most trading has become automated or very quant / statistical based. Futures and Equities especially so. If you trade those markets, chances are you work for a high frequency shop, and it is more like you are a programmer or a babysitter of automated strategies.
Options trading / market making still has some art or discretion or whatever, so that is a potential route. It is becoming increasingly more automated as well though. Bottom line is, if you want to be a trader, you better like / know how to do some programming. If not majoring in comp sci, should definitely take several classes in it. For options trading, study some math and brain teasers. Big firms include DRW, SIG, CTC, Consolidated, Optiver, Tibra, Wolverine, etc.
Your "not top tier firm" mentality makes me think you shouldn't go into trading. It isn't easy. It's a cutthroat business, and you are competing against some of the smartest people in the world. The industry is always shifting, and if you aren't cutting edge or on top of it, you will be forced out.
Could you elaborate on programming? What programming languages should I master to have a better shot at recruiting?
R is good for statistical analysis. VBA in Excel is used at a lot of places for PnL and position reconciliation. C++ and C# for trading algos I think, but I dont really do that. But, if you learn programming you can generally quickly pick up whatever specific language the firm uses.
Statistical languages like Python, R, and at certain firms C++ are all useful for manipulating large amounts of data and building complex algorithms.
Start with 20 k before you lose all your money brah.
Don't really.
Voluptas vero ab numquam repudiandae quia ratione pariatur ipsam. Veniam minus error laudantium eligendi. Dolorem sit sint aut tenetur aliquid animi voluptatibus.
Quasi maiores repellat sit molestiae nihil perferendis sint ut. Dicta quo explicabo eveniet et rem perferendis itaque. Commodi ipsum voluptatem at qui repellat enim.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...