was thinking of starting a phd then going for a quant role. now i think i've done enough studying, i'm starting to find it dull. i'm looking at a more exciting job. What should i do to if i want to become a trader? do i need to do some preliminary reading before i start applying? i'm doing an IT, technical role at the moment unrelated to finance. any other ideas for a career move?

It's hard to become a trader without any trading experience. But it's not impossible, many undergrads become trader after school. You just have to show you are smarter than most people and good at people. You can start by looking at all the exam series.

ya but how do they get into trading after undergrad...luck?

Banks look for young talents who have none or few family burdens. Those people may be more willing to take risks to make money in trading. To get in, I think good GPA, school brand, being able to talk... may help.

QuoteOriginally posted by: QuanteerBanks look for young talents who have none or few family burdens. Those people may be more willing to take risks to make money in trading. To get in, I think good GPA, school brand, being able to talk... may help.Why being more willing to take riskes turns out to be making money in trading?

QuoteOriginally posted by: misiti3780ya but how do they get into trading after undergrad...luck?Usually through graduate programmes, I heard.

modelling is dull, cuz we have not find the fun of it, e.g how model makes money directly....Just like the other post said...when you are in the field...you will be showed how they make money via a very simple model! I am sure you will be getting very excited by then.

IT (or anything that is not front-office) won't get you into trading, unless you're in a very small company. There are many paths that work. One is clerking (aka trader's assistant) which is what out-of-college trading jobs usually are: order-entry, trade-support, etc. Good clerking jobs are those where your trader(s) take the time to educate you as to what they're doing, so you learn a lot; bad ones are those where they don't care if you learn and just use you for grunt work. You'll be either a trader, or out, within a year or so. Another is to be a front-office quant, where the work is more challenging and more interesting, and the pay is better than for a clerk. For a quant, conversion to trader takes longer, but the process of getting there is more enjoyable, and you'll also have time to evaluate whether you want to become a trader-- some quants do, some don't. (It wouldn't make sense to clerk for 2 years, and also, if you clerk and don't become a trader, you didn't get much for your time. Whereas you can remain a quant for a long time and continue to learn/become more valuable.) The word "trader" has a different meaning inside a bank than outside of one, and what it means inside a bank describes a smaller set of people. People who get "trading" jobs out of undergrad are usually clerks, sometimes (if they have strong technical skills) junior quants. Inside finance, they usually wouldn't be called "traders".

I wonder what can be counted as good trading experiences. I have been swing trading for almost of 7 years. I have grown from consistent loser (: )) to consistent winner last 3 years(about 30% a year). Considering I have a tough software development day job, it is not that bad I think. I have less than 2 hours per day to actually place a trade. So I often end up with horrible entry and exit prices. I am going full speed to study towards CFA level 1 Dec. exam now. The FSA book really helps me to understand details of financial statement much better and faster. QuoteOriginally posted by: QuanteerIt's hard to become a trader without any trading experience. But it's not impossible, many undergrads become trader after school. You just have to show you are smarter than most people and good at people. You can start by looking at all the exam series.

My perspective's very limited, but I don't think that trading on your own (E-trade, etc.) is going to impress people who will hire you for trading jobs, even if you've been successful. Senior traders are looking for people who can trade very large amounts of money and follow detailed instructions, while at the same time, having the creativity/courage to play well when those instructions don't apply. Also, not to sound like a dick, but a lot of people have gone from consistently losing to consistently winning recently. Look what the S&P was doing in the early '00s... and then look at it now.

How much money does a trader usually trade? A couple millions would be perfect amount for mid-term (swing) trading. I think no traders can do well without a lot of creativity and fast thinking. The only thing constant in the market is change. It will keep evolving and keep throwing different looks. Be able to think and adjust quickly is the only way to stay ahead in this game.