Numeric Ability as a Trader
Hey there,
I am currently a Physics Major (from Europe so I don't know the GPA conversion, but among the best 10% or so grade-wise) and am quite interested in a career in S&T.
Now, I was wondering what level of numeric ability one should have that, given the right amout of prep before an interview, one could land a job at a BB bank (not talking about prop shops). I heard everything from IMO material to your run-of-the mill "Straight A guy", so can anyone elaborate on that?
Fyi, I do think I am good at mental math, but I also know that I couldn't compete on a IMO level. Think good placements at cross-country high school placements. For reference, I just tried the mental math test at Zetamac with zero prep whatsoever and got around ~35, which is just horrible. However, I am confident that I can improve that score by a significant margin if I invest more time, the crucial questions is: How much is too much time, i.e. when do you start lying to yourself by the amout of practice you put into the whole thing?
Any help appreciated
really depends...when i was hired at a BB, and when i interviewed junior traders...there was no mental math...it was just a conversation where the goal is to learn if you are a quick thinker in general. On a linear desk, where news flow changes fast and so our reactions are not based on math, but on changing your opinion on the market from information that is not math based in nature, but based on changing politics and other such things (math is necessary, but not the end all be all...you must be "smart in general" with regards to human psychology and the psychology of the crowd, in addition to being "math smart" and deep product knowledge).
Trading is one of the hardest careers in the world to be good at. Yes, anybody can click the buy/sell button....but very few can do it and be consistently profitable...just like anybody can hold a scalpel and cut open your brain...but very few can do it and not kill the patient.
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