Hello! WSO had been a very useful resource to me back in my school days and thought I can give back
Some background: I did okay at school but wasn’t super eager about looking for internships as my peers were. It’s like I went to info sessions and applied for jobs but that’s about it. And back then I was interested in IB (like most people do because apparently banking jobs are just more well known and glamorous) and knew nothing about trading. So naturally I didn’t get any intern simply because I probably didn’t even spent 1/10 the effort of who got an intern offer. Anyways, I didn’t have a full time offer by the time I graduated and I went through random interviews/contractor gigs and eventually stumbled into this MO role which pays okay considering the amount of work. I still wasn’t interested in trading 1 year into the MO job and I was planning for grad school. Now think back the reason I wasn’t interested is I didn’t understand trading back then. Over the time then one day I started to understand everything and all of sudden I found trading and the market are just amazing and so exciting. It’s like When I’m starring at screens waiting for economic data I got the same kind of excitement of about to catch a rare Pokémon or raiding molten core kind of excitement. Can’t stop thinking about it. That’s the moment I decided trading is the way to go. Fast forward to now I have been trading FX for 2 years and I work with an incredible group of people and I enjoyed it a lot. My desk is one of the top 3 banks in the market.
It’s definitely not easy to make the move. Don’t get me wrong. It had been difficult, bitter and frustrating. So many times I just wanted to quit and maybe do something totally different. But I just wanted to show people who’s in the same shoes atm and ambitious and driven that anything is possible as long as you want it badly. And to give back to the community because I recently realized some platforms/blogs/consultants gave misleading info about the industry and the work itself. So just another data point for you guys to look at :)
Nah you lying, unless you can prove otherwise I can't believe you trade for a living. Trading and market is exciting and Fun? As a FOREX TRADER?? No real fx trader/broker would say this like EVER. You sound like a kid who just learned about retail trading.
Calling this BS...
First of all no one trades “forex” bruh... that does sound like a 50k ticket to me.
I’m just sharing and giving positive energy here so people who need to get inspired will see this one data point, and I’m here to answer questions. Don’t think I have anything to prove.
Did you just say you dont trade forex? You have to be a troll. FX trading is active in commercial banks, central banks, money managers and hedge funds.
There are hedge funds who trade primarily on the FX market off top my head like partners firms, XR, SMB,maverick.
You either a troll or retarded. If you are an actual trader the bar is extremely low
Since when the culture on WSO became so not supportive people just accusing and calling troll after some google search??
Okay bro you did fine but only stopped at the door. And let me give you a lesson on some real stuff:
BRL NDF don’t settle on US holidays but PHP ndf settles but can’t fix on local holiday. Why does this matter? Because when you combine the local and US calendar day count can be tricky around holidays hence the fwd points, HFs like to take advantage of that when dealers don’t pay attention. Oh you don’t know what is NDF? Go google it and I’ll give you a hint, PHP is a ccy of a southeast Asian country not the programming language.
One month 20 buck fx swap gives you around 200 dvo1 while 20 buck 12m swap gives 2k. Why don’t you tell me “off top of your head” how to roll ndf fixings when it’s close? Hint: you need two legs. Another hint: you usually want to roll your fixings because if you don’t, after the near leg gets fixed you’ll get a delta position at an arbitrary rate which CB sets.
Singapore CB maintains its ccy in a band against a basket of ccys which the country trades frequently with. That band is commonly referred as SGNEER, and it’s around 1.20-1.30% this past Friday. Homework: where was it this past Monday?
After this past fridays strong NFP and high revision $jpy spiked but reversed and eurusd collapsed and stayed. Why? Strong US economy = stronger dollar. However there was no obvious sign of risk sentiment change and a big risk event is imminent i.e. dec 15 deadline of tariff to China but we don’t have any official ancmnt as of yet. Risk sentiment no change = $/yen stay put.
If you still call me troll or retard, go for it because hater’s gonna hate. I wrote my first post in a way that’s fun to read and that young kids can relate (I hope) And I’m here to give help to people who are really into trading esp fx/macro trading and those people know what I’m talking about here.
Lots of noise... thats all you doing, you trying to prove that you work professionally by making noise and making yourself sound knowledge. You sound like a mechanic trying to scam a customer by talking fast and in terms. Btw a first week IB analysis would know what a deliverable and non deliverable foward is. Its like if I tried to prove I am a Quant by talking math.... its ridiculous.
If you are a professional trader then mature it up. You managing porfolios for godsake, you sound like a 14 years old. Also hows the BRL looking right now? Sounds attractive as the BRL is hitting new lows.
That’s not noise that’s standard market language, and when clients ask questions they want to get numbers and facts. Trading does sound more quant because that’s how you quantify risk so you can manage it.
I am new to the market and this post is about sharing experience making the tough transition. You can ask me to verify my story by testing my knowledge but pls stop accusing and cursing anyone retard upfront.
And for Brazil, the whole South America block hasn’t been doing well recently. Venz was sanctioned long time ago and still is. Argy default is more and more likely. Its CDS is trading ~50-60’s (not spread but pts upfront) while it was only in the teens 3 months ago. Not to mention the violent protest in Chile only started to quiet down recently. Of course the reform and political environment is not great in Brazil, but atm it’s more about risk off sentiment spill over and less idiosyncratic.
How did you get a trading job, considering there are hardly any spots? Was it in the same bank? Did the traders simply like you? How much luck was involved? Did you work your ass off compared to others who wanted that spot?
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