becoming a trader

[joebee1010]

Hi everyone my name is Joe and I was wondering if someone could give me some directions about how to start my trading career.
I have a physics degree from a top UK University. But I have no work experience or internships under my belt. However I love trading and find it very exciting. I am currently spending over 12 hours a day learning. I have set up demo account and I am thoroughly enjoying this. I find the technical analysis most interesting. So I guess my question is what is the best way for me to get into trading. I would ideally want to start in a smaller firm, since I think this will be better for learning?

Thanks

 

[Patricia12]

If you are planning to join any trading firm then it is a good idea. However, after giving sufficient time in demo account you can start trading for yourself as well.

 

[joebee1010]

Thanks Patricia. What would your advice be for me to get into trading for a bank or hedgefund, I currently how no idea how to break into the industry.

 

[Mr O]

Depends how old you are and how much capital you have. You'll be lucky to find a position being paid to learn how to trade as the industry has changed a lot over the past few years. That's not to say don't try, get your c.v to every firm out there. I'm just saying don't be disheartened if it doesn't lead to any real response as that's just the way things are now days if you want to start at a firm with no experience.

The best advice I can give you regardless of if you start at a firm or decide to trade your own capital is to not let the technical's become 100% what you're about as a trader. Personally I made that mistake when I first started out. If you want to make money you have to be a professional in the way you approach it. Understand market relationships and focus on risk management, because risk management is what is either going to make you or break you as a trader. Seriously... if you keep the maths on your side and remember that it's all about how much you don't lose, then you'll be good.

 

[darby88]

Thanks Patricia. What would your advice be for me to get into trading for a bank or hedgefund, I currently how no idea how to break into the industry.

If you want to be a trader you need to decide what type of trading you think will be best for you and what you want to trade....futures,options etc. trading in a bank is much different than trading in a market making and prop firms. you prob wont get into a bank unless you are extremely proficient in programming or have a PHD in mathematics.

Take it from me you should apply to market making firms. they have entry level positions for people like you.

optiver
all options
tibra

these are some that do these and recruit constantly.
you will need to be extremely fast at mental math. so if you like that this is for you.

if you get an interview with any of these firms just ask.i suggest starting with optiver.

The number one thing to remember is

NEVER JOIN A FIRM THAT ASKS YOU TO PUT DOWN YOUR OWN MONEY

there are enough firms out there that you can join if you have the skills necessary to become a good trader!!

all the best

 

[joebee1010]

Thanks for the replies guys/girls. Darby 88I looked at the websites for those 3 and they have vacancies but it seems that they are looking for experienced traders at least more than I have. However I saw that Tibra has a junior trading academy do you know anything about this? I called the HR about 3 times last week but always no one picking up.
Does anyone know if there is a trading firm at No.1 Poultry london ec2r 8jr?

 

[darby88]

Thanks for the replies guys/girls. Darby 88I looked at the websites for those 3 and they have vacancies but it seems that they are looking for experienced traders at least more than I have. However I saw that Tibra has a junior trading academy do you know anything about this? I called the HR about 3 times last week but always no one picking up.
Does anyone know if there is a trading firm at No.1 Poultry london ec2r 8jr?

If you make it through there interview process you will be in a great place.

I wouldnt worry about the fact that job are no posted on the sites.
They recruit all year round and are always looking for potential talent!
So apply to them! send them your CV and cover letter and make sure you make yourself stand out!

Junior trading academy would be perfect for someone like you.
youd get the training to bring you up to speed on what is needed to know!
things like what moves the market...macro news,economical figures and which markets they move or have the greatest effect on!They would also teach you how to use there technology to trade in this time.

The Hr departments are quite slow in this institutes so patience is required.

Look for bunch of trading firms, send your details to them and interview with as many as you can.
Most interview processes are very difficult so having experience in interviewing with them extremely important! you'll see the type of questions they ask and what they might be trying to test within your abalities.

All the best

 

[hgh]

Mr O really did some good experience sharing and his suggestion is worth to thinking. Also others have some good suggestions. Now it's hard to start with no experience or certification, just do it. as you have passion on this industry.

 

[mingbao]

You can teach yourself too, start small and go live when you are experienced in demo.

experiences will be gained through repeated profits and losses.

 

[JLowry]

Sounds like you have a good head on your shoulders. Not sure why you'd want to be a banker ******...

 

[D70]

hi everyone my name is joe and i was wondering if someone could give me some directions about how to start my trading career.
I have a physics degree from a top uk university. But i have no work experience or internships under my belt. However i love trading and find it very exciting. I am currently spending over 12 hours a day learning. I have set up demo account and i am thoroughly enjoying this. I find the technical analysis most interesting. So i guess my question is what is the best way for me to get into trading. I would ideally want to start in a smaller firm, since i think this will be better for learning?

Thanks

i'll say this only once.............>>

grad scheme grad scheme grad scheme.

 

[joebee1010]

Thanks everyone for the advice. this is a great and helpful forum. I have decided to trade my own account for now.
Are ECN better than market makers?
Which brokers will people recommend for me a beginner with not so large initial risk capital?

Thanks

 

[MacroStyle]

I started in the Middle Office of a Hedge Fund about 6 years ago, spent a year booking trades, calculating P&L and Risk and generally understanding how all the products (I have a degree in Chemistry so didnt have any previous knowledge).

After a year I had built up the trust of the Portfolio Managers, I started executing for them and took it from there.

So that is a possible route too although don't do it in a bank because you will get stuck. I think this approach will only work in a small team and I am probably an exception rather than the rule.

Or as D70 said Grad Scheme.

 

[joebee1010]

From the little knowledge I have about spreadbetting. I would think that trading is resistant to the economic crisis or is this total wrong.