best route to becoming a trader in the city (london)

[jaet1989]

Hi,

From reading the posts my friend I have to agree with the majority, survey the markets, study hard for around 6-12 months and you will find a profitable system.

I would suggest a real time trading platform, or as close as you can get, on a trial only basis and get some practice of live markets while familiarising yourself with the theory.

Remember spreadbetting is a leveraged product and your money can make you big profits but be aware you can lose, so be sure before capital is at risk.

As for the city investment banks and houses, they usually require A* - A at gcse, 3-5 A's at A level, usually traditional academic subjects, and to top all this you would need at least a 2:1 from Oxbridge, LSE or Imperial in a solid quantitative subject, and as others say a Msc or/and PHD, which to me is proposterous, but they want the best.

Good luck whichever route you choose.

 

[FX Spreadtrader]

hey guys, i'm new to the forum and i'm gonna ask a question you've probably read a thousand times before but i need some semi urgent advice, so i'm gonna crack on.

All throughout my life people have always said i should be a trader in the city. Not sure they say this because i've got the gift of the gab, i'm confident or because of my charisma. That's not important. What's important is it's the only career i've ever been interested in.

So to the question:

I have no experience of working in the city and have no degree. which is the best/quickest route to take to become a trader?

A little about my background:

I'm 26, currently work as cabin crew for British Airways, although i not gay lol. Previous to this i worked as a croupier in several casinos round London for 4 yrs, so i am very strong in maths.

Although i have no degree i have 11 GCSE's (3 A's/6 B's/2 C's) including an A in maths. i also have a BTEC National Diploma in Sports Science.

I sold one of my flats 3 months ago so have got quite a bit of cash spare. I'm currently looking into doing a degree in Investment banking at City College, but need to enrol by the end of June.

Would doing a degree be worth it or should i try and get a job in the industry and work my way up? could i even get into the city without experience/degree? if the answer is degree, what degree would be the best to study with an aim to being a trader.

sorry for the length of this post and thanks in advance for any help.

peace bredrins

Just looking at what you said how have you got on...

 

[Chartsy]

Bump: Would a geography degree from cambridge with A*A*A a levels, with a strong trading record be acceptable for IB?

 

[ashi92]

I would like to recommend you a website : Global Banking Training - Cash flow modeling, Business valuation, Investment banking courses in London, UK

They have 30 course Investment Banking Boot Camp which prepares delegates for investment banking jobs.

They provide free CV review and arrange mock interviews.

Good Luck!

 

[pboyles]

I would like to recommend you a website : Global Banking Training - Cash flow modeling, Business valuation, Investment banking courses in London, UK

They have 30 course Investment Banking Boot Camp which prepares delegates for investment banking jobs.

They provide free CV review and arrange mock interviews.

Good Luck!

Really, youre joking.

 

[pboyles]

So this centre of global banking training operates from these corporate headquarters, above an amusement arcade, very impressive.

 

[bedsit]

So this centre of global banking training operates from these corporate headquarters, above an amusement arcade, very impressive.

How do I enroll? - I've always wanted a well paid job as a trader, so I can drive Ferraris and buy yachts. As I understood they'll review the CV and arrange for mock interviews.

 

[Blaiserboy]

So this centre of global banking training operates from these corporate headquarters, above an amusement arcade, very impressive.

The mock interviews are actually authentic........ there is a pinball machine in the arcade named 'Mock You, Charlie'

PB, I think you place too much emphasis on quality and integrity........, next you are going to insist that these institutes of higher learning actually have bank accounts..!!

 

[ashi92]

The good thing is they offer courses in small classrooms and have one-to-one sessions with every delegate.
The quality of the trainer is excellent (you can see the trainer’s profile here Global Banking Training - Investment Banking Boot Camp, Investment and Banking course in London, UK) and the prices are very reasonable.

 

[Blaiserboy]

I would like to recommend you a website : Global Banking Training - Cash flow modeling, Business valuation, Investment banking courses in London, UK

They have 30 course Investment Banking Boot Camp which prepares delegates for investment banking jobs.

They provide free CV review and arrange mock interviews.

Good Luck!

Ashi

Looks like you are quite new to this board......

Small piece of advice.......

As you are attempting to promote something which already has been shown to be a bit of a bucket shop, you may be wise to have a look at other threads attempting to do the same thing, and learn a lesson before you get embarrassed.

This board has some very astute businessmen as members and they seem to have impatience with people attempting to place advertisements without being a registered vendor.

 

[Dogged]

An institution is looking for consistent risk management, a solid trading plan, and time. Every successful trader does the same things:

1. Trades a demo account until they get a clue.
2. Trades a small live account until they get a clue.
3. Shows patience and sticks with rules of risk management.
4. Develops a winning strategy.
5. Trades a larger live account and shows modest but consistent gains.

People lose because they want 30% per month. An institution will want 20% per year. Those are stellar gains in any market, especially the current one. A lot of strategies work at 10-20% per year but will kill you in an overleveraged 3 month period.

As I understand (I'm not an institutional trader), institutional traders keep a journal that justifies all trades. As you hone your skills, keep a thorough record of trades. Why in, why out, why TP, why SL. The more paper record the better. Big firms aren't the only ones who will pay you to trade with them. There are a lot of businesses that have diverse investment interest and have cash.

This is why trading someone else's dough will make you a millionaire faster than trading on your own dime.
InformedTrades's Channel - YouTube


I'm not affiliated with EESFX. They offer an incubator program to pair traders and institutions. I imagine the same exists for the other markets.

EES FX Incubator Program

The real challenge is establishing credibility.

 

[GeeWhillikers]

As for the city investment banks and houses, they usually require A* - A at gcse, 3-5 A's at A level, usually traditional academic subjects, and to top all this you would need at least a 2:1 from Oxbridge, LSE or Imperial in a solid quantitative subject, and as others say a Msc or/and PHD, which to me is proposterous, but they want the best.

Sales traders dont necessarily need to have PhDs. Just an attitude.

Quant traders, or trading desk quants do need PhDs etc... because they design or implement systems that require a research background to understand. Or they just need to be sufficiently mentally able that they can smash out an Excel hack in 15mins with traders shouting obscenties at them.

Structurers need advanced degrees so that they can create products of sufficient complexity that it completely bamboozles everyone else (except other IBs who reverse engineer and copy them).

Sales Quants need advanced degrees so that they bamboozle the clients.

Note that very little of this is about prop-trading or 'share picking'. And there is less that is accidental about derivatives blow ups than many of you seem to appreciate.

 

[deebee1]

hmmmmm

 

[EricReed]

So this centre of global banking training operates from these corporate headquarters, above an amusement arcade, very impressive.

Dr. Vishwajeet Rana (MBA, MS and Ph.D.) is a seasoned investment banker with US$ 5-billion+ investment banking transactions experience.

Yet his office looks like a dump

and what is a seasoned investment banker?

 

[Club]

A investment banker with salt on his head?

 

[ChocolateDigestive]

the best route to becoming a trader in the city is probably the central line, although the waterloo & city line is gunna be your best bet if you live in Surrey.

 

[deebee1]

the best route to becoming a trader in the city is probably the central line, although the waterloo & city line is gunna be your best bet if you live in Surrey.

lol, ha ha ha..... what about if your travelling from north

 

[zaq1]

If you manage to get into the London School of Economics, banks hire directly from there (Goldman Sachs is actually their largest "consumer" of graduates). However you would not necessarily end up in a trading department, they have many other departments from accounting to risk management to legal compliance etc. In any case you would become a very well paid bank employee with an excellent perspective which is not that bad I guess. As for suitable subject to study, talk to the uni.

If you have an apetite for the risks involved and are ready to sacrifice sure salary from an employer go for your own career as described in the other replies here and you will enjoy the privilege of being able to make your own decisions. And, treat your capital carefully, it may grow substantially over the time - remember the magic of compound interest.

You may get some insight into the banking staff world at Willmott Investments & Developments discussion forum.

 

[zaq1]

Sorry not Willmott Investments & Developments but Wilmott | Serving The Quantitative Finance Community | Home

 

[TheUglyTruth]

The mock interviews are actually authentic........ there is a pinball machine in the arcade named 'Mock You, Charlie'

PB, I think you place too much emphasis on quality and integrity........, next you are going to insist that these institutes of higher learning actually have bank accounts..!!

INVESTMENT BANKING TRAINING
Green Business College London - Study English, Diploma courses, professional and executive programmes in London :idea:
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