Trading as a part time job??

[Sharpreranfaster]

First of all, thanks a lot for these helpful information. Since, I'm a student. I don't have lots of time so my goals for trading is to make some money (i don't expect a lot), and learning how the market work. Also, I'm majoring in math integrated with computer. I had taken some math finance course. I'm familiar with VB.net and JAVA. Do you think I will have a chance to get a job in this industry. Any suggestion?

Thanks again

Glad to help, I was where you were not too long ago (actually, it has now been about 10 years from that time and now I feel old).

So, let's go through the various aspects of the financial industry (in broad terms based on function) and see if any of this sounds interesting to you.

Financial Services - this is the retail sales side of the industry, guys a bit older than you in semi-nice suits convincing you that this mutual fund their company happens to manage is a great investment for you. Not the most fun or savory part of our trade, but the opportunity to make money is present and the barriers of entry are low. You will hear this field called all sorts of things, personal wealth management, customer care representative, blah blah blah. End of the day, you are selling to people and getting assets under management.

Financial Analysis - These are the folks that, much like us go hunting for trends and good deals. The math involved here is mostly statistics with a dash of calculus. Thanks to the world of computer based trading models, analysts are not needed in such great numbers anymore. On top of that, your work will be pointing the way for large sums of money, meaning the entry point to these jobs is rather high.

Financial Modeling - AKA actuarial science. People with immense talent in math who build the models that analysts and service reps and brokers use to do their jobs. There is a round of testing involved (not sure what that looks like in Canada) and it is brutal. If you have the chops for it and can break into the field, there is a very high demand both in finance and everywhere else, and the median pay really high.

Trader/broker - you are in a pit, on the floor, or in a sea of cubes reading picks and trying to make a buck. While plenty of very smart people wind up here, anyone can thrive in this role and those who are good at it will find themselves not worrying about money. Tradeoff is you'll need to go where these jobs are (Chicago and New York come to mind) and the job will try to consume you. All those jokes about traders being drugged out make more sense when you are dealing with a market that is open 24/7 and have been awake for 3 days straight.

If you are motivated, interested, and willing to work for it and learn, then you can probably get a job in the financial industry. A diploma is very helpful (if not outright required). I know it takes a major investment and a lot of time to get a degree, but they give you the most options, and believe me, you want options.

If you have more questions or specific questions, just post and I/anyone else here will do our best to answer. Thanks!

 

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Financial Services - ...

Financial Analysis -...

Financial Modeling - ...

Trader/broker - ...

If you are motivated, interested, and willing to work for it and learn, then you can probably get a job in the financial industry. A diploma is very helpful (if not outright required). I know it takes a major investment and a lot of time to get a degree, but they give you the most options, and believe me, you want options.

If you have more questions or specific questions, just post and I/anyone else here will do our best to answer. Thanks!

TBH, I don't really no what I'm going to do. So, i'm just focusing on school. My average 95 (what a nerd lol) Since I'm majoring in math concentrate stat, I probably choose Fin analyst, fin modelling or trader. Do you think I should take any finance courses? Also, what do you think about master in Financial engineering? would that help me to get a job?

thanks!

 

[NVP]

Glad to help, I was where you were not too long ago (actually, it has now been about 10 years from that time and now I feel old).

So, let's go through the various aspects of the financial industry (in broad terms based on function) and see if any of this sounds interesting to you.

Financial Services - this is the retail sales side of the industry, guys a bit older than you in semi-nice suits convincing you that this mutual fund their company happens to manage is a great investment for you. Not the most fun or savory part of our trade, but the opportunity to make money is present and the barriers of entry are low. You will hear this field called all sorts of things, personal wealth management, customer care representative, blah blah blah. End of the day, you are selling to people and getting assets under management.
This is SELL SELL SELL ...you need half a brain, plenty of annual mileage and bags of charisma needed to charm the money out of your elderly customers ....if not sell double glazing

Financial Analysis - These are the folks that, much like us go hunting for trends and good deals. The math involved here is mostly statistics with a dash of calculus. Thanks to the world of computer based trading models, analysts are not needed in such great numbers anymore. On top of that, your work will be pointing the way for large sums of money, meaning the entry point to these jobs is rather high...PHD is astro physics needed to get a job......being related to the bosses or a network of interbreeding will help to get the job


Financial Modeling - AKA actuarial science. People with immense talent in math who build the models that analysts and service reps and brokers use to do their jobs. There is a round of testing involved (not sure what that looks like in Canada) and it is brutal. If you have the chops for it and can break into the field, there is a very high demand both in finance and everywhere else, and the median pay really high....same as above except 2 X PHDs in astro physics are needed to get a job......being related to the bosses or a network of interbreeding will also still help to get the job


Trader/broker - you are in a pit, on the floor, or in a sea of cubes reading picks and trying to make a buck. While plenty of very smart people wind up here, anyone can thrive in this role and those who are good at it will find themselves not worrying about money. Tradeoff is you'll need to go where these jobs are (Chicago and New York come to mind) and the job will try to consume you. All those jokes about traders being drugged out make more sense when you are dealing with a market that is open 24/7 and have been awake for 3 days straight.
like option 1 above but without the annual mileage


If you are motivated, interested, and willing to work for it and learn, then you can probably get a job in the financial industry. A diploma is very helpful (if not outright required). I know it takes a major investment and a lot of time to get a degree, but they give you the most options, and believe me, you want options.

If you have more questions or specific questions, just post and I/anyone else here will do our best to answer. Thanks!

just my 2 penuth .........

 

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just my 2 penuth .........

So all i need is PHD??? Also, Financial Services is definitely not for me. I'm not a good sale man. Also, I would love to get a job where I actually use my knowledge.