First Post : FX trader

Baby Bonds

anonymoooouse

King Kong

Best Response

yes traders speculate with FX...spreads are so thin, how do you think they make any p/l?
math, computer science, stats, econ. in that order.
personal trading is good to show interest in the markets, for S&T anyway. props are more about raw mental aptitude (hence tough majors..see 2.)
the most important thing in trading is risk management. The more you understand that, the easier it is to show that you've spent some serious time learning about trading.
apply to sophomore internships this fall. BB's, local investment banks, commodity shops (trafigura, etc) and props (Optiver, drw, sig, etc.)
learn programming (i recommend python), quantopia is a good resource, as well as quantstart. Try developing a trading algorithim (sounds fancy, but its basically a set of rules your program follows. Check quantopia for help.)
develop a view on FX. Central banks are pouring free money into the markets..what does that mean? High inflation? Whats the relationship between economies? Example: Mexico's central bank will only increase rates when the U.S. does, in order to keep the currency competitive, even though their economy isn't as healthy as the U.S. is...what trading opportunities do you see there? (check futures on peso to dollar..whats implied from the price difference, etc)

My point is, there is a lot you can do to learn more about the industry and so long as you continue to show interest, expand your boundaries of knowledge, and start networking, you can definitely land an internship at a reputable company. Especially as a sophomore, any relevant experience is good experience.

ooh ooh aah aah

Orangutan

yung buck

Gorilla

Dicks out for Harambe

ooh ooh aah aah

Orangutan

ironnchef

Almost Human

4% per month = 60% per year (thats 10x compounded over 5 years...which is amazing)....this is great...but only if it comes from lots of smaller gains that cumulatively add up. Hitting a bunch of "home runs" when trading a very small amount of capital won't impress anybody, because its usually not a repeatable strategy...so for this to have value, you would have to be actively day-trading, and provide daily returns. This enables to calculate risk metrics (sharpe, sortino), as well as create enough trades to measure your edge over a larger sample size.

While its true that many hedge fund managers position trade (where trade duration lasts days to week to months)...trading a small portfolio, its just bad luck that this won't impress anybody.

Now, if you neglected to mention that you are making 60%/year trading 5 million dollars, different story...

ironnchef

Almost Human

every BB has an FX trading desk, and they all take 2-3 interns every summer...so thats 40-60 slots that you are shooting for. That is your goal. Time to start prepping, make the markets your daily bitch..every day...get to know the ins and outs, become a "member of the club"...and when the time comes, network and recruit as hard as you can at EVERY BB. (there are 20)...yes, you should apply to all 20.

Review of Credit Union SWOT Analysis

Macro Arbitrage

Senior Neanderthal

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