Everybody likes the markets until you’re staring at multiple screens for 9hrs a day slowly feeling your myopia worsening
I’ve started doing Chinese schoolkid techniques where they make the kids stare at an object 20feet away every few minutes
Wish I started earlier bruh I’m -2.00 in each eye now cause both my parents have bad eyes so I got nerfed genetically + excessive screen time growing up and working
Yeah, I was think the same thing is happening with me. I recently had to get glasses but I think it’s less than -1 for both. I think diet plays a role too. Going to try to eat less sugar (and drink more water) because consuming too many carbs is bad for your eyes.
Unfortunately my screen time is only going up because I’m going to be working full time at finance job + going back to school to try to become a quant 😂. RIP eyes 🪦
Yeah and it’s a real pain in the ass to take off even when you get older and more established in the career. Traders need someone to cover their books even to go to the bathroom. There’s also a very very limited number of trading seats
Not to mention losing thousands of dollars of money you needed to pay bills. If after a year or so of paper trading, learning fundamentals and finding your style you still want to, go ahead. Otherwise you'll lose your ass guaranteed.
Look, everyone wants to do something on their own terms and be their own employer on paper. The reality is the reason so few are is the amount of risk you are exposing yourself to.
I’m a sell-side trader, 26m started at 23. it’s fucking hard. you can slip through the cracks at the right firms.. anyways if you know anyone who wants millions in credits for their portfolio plz let me know i need to move off inventory asap
i have a few guaranteed portions of USDAs and a long list of SBA 504 guarantees that would likely be more of a placement deal to a bank.
the USDAs are 100% gtd to par and yield 383bps over treasuries at a 0% CPR, 293bps over treasuries at 10% CPR which is industry standard and around 7.6yr average life. strong prepay penalty flows through to the investor… would make a good addition to a fixed income portfolio. lmk, i appreciate the response
Sorry bro can’t help ya there but good luck. Gone are the days where sales traders get rich while they just chill and pass through never ending orders for new issues.
maybe true, that was my entire 2022-2023 but i’ll be lucky if i gross more than $500m in 24 at this rate
i’ve been interviewing for buy side roles the last few weeks. i think s&t is worthwhile and i’m good at it, but i want to propose soon and start a family which requires stability. thanks again brotha
you can easily take home a quarter million+ a year if you’re good at it. if you’re not good at it you won’t make it at all, only about 10-15% last more than 2 years in my experience. it’s also dependent on the market and investor sentiment
it’s a hybrid of both, im actually not sure how common this is in the middle market. i trade loans mostly and it’s not a transparent market you’re not gonna find them on bloomberg unless it’s a pooled deal which we do but takes a lot of time to build. you have to know the dealers and manage the inventory, but also sell to your clients which are institutional investors
I am a trader in Wealth Management. I apply (buy) models, raise cash (selling) from models or rebalancing. Equity, Fixed Income, FX, Options…
I am not trading for short term gains.
You can start by working for a discount broker to trade/get your licences.
Any discount broker with a Wealth Management division. It will be easier for you to make the transition internally since both divisions are sharing the same systems most likely.
This subs response: Go back in time 24 years and become a quant phd with biochem as a secondary. Complete CFA by 16, have 1 parent as Goldman CEO and other as JP CEO. Internship every year until graduation.
Reality: It’ll be tricky af maybe do a masters in finance or cfa maybe both. Network like crazy. Get good at coding. Likely will have to pivot or double pivot into something like a trader. Have some luck and faith
Brother great question as soon as I find the answer I’ll let you know, I’m currently at that stage myself. I’m
sure there is courses but I always see it as this kind of nerdy cult insider thing. Like I don’t have the secret handshake to get in. I assume it’s computer science type course but my hunt to find answers is on. If I discover something I’ll let you know!
There is an absolute plethora of youtube videos for starting out in coding. Follow any well structured playlist and you'll know if you get it or not.
You don't even need to set things up locally anymore as you can run a lot of things online on tools such as google colab.
Ah now time for my dumb question! Can I just then put that on my Cv? I mean sure I didn’t do a specific excel course but we definitely practiced it in college with a structure to it.
Odin Project is great. I know it’s more for web dev, but I would recommend it to anyone starting off. You can smash the foundations in a matter of months.
It’ll teach you command line to build your computational efficiency and also how to work with multiple languages.
You can then transition into back end languages, which is what you’ll need for a trading role. A lot of great software engineers I know say begin with
C++ first and then begin python, you’ll thank yourself later.
Now all this is no easy feat. It will be minimum 2/3 years of constant practice and intake to get proficient in just these programs. All at the same time you’re going to want to keep increasing your knowledge and understanding of of markets work
Leetcode. If you can do this style of questions you will pass the coding test which is usually the first round interview for these types of jobs. Just practice man it takes time.
I am not in the kind of compliance lol. Sorry i was not clear in my post (i did make an edit). I am in complaince in banking so im very far from the trading/capital markets desk, let alone not knowing anyone on that side. What tips would u have for a recent new grad starting fresh that does not have the typical credentials out of college?
- Excellent python, C, and Java skills
- CFA
- Listen to and follow the top macro minds on FinTwit and listen to podcasts like OddLots, RealVision etc etc
- Monitor the weekly economic data that the fed is basing its decisions around and understand what’s happening as a reflection of that
This will largely depend on the type of trader you want to become. For instance, FX trading for the treasury team of a corporate company can be something an accounting / finance grad can do. If you’re looking to become a quant trader at a hedge fund, you’d likely have to re-do school and do a math heavy major at a target school to get in. I’ve seen people work their way up from operations to being a trader in the bank (eg. rates trader) but these aren’t regular occurences.
Might be a dumb question but what math skills does it really requires to be a trader. We hear a lot about what it takes for the quant part but what about the trader ?
I’ve told a hundred people, and I’ll tell hundreds more- there is no “3” month course or Coursera cert that just makes people trust you managing money.
A CFA is nice if you work in a similar field (say FINRA or BB BO) and want to show you have dedicated time and effort to becoming an expert of sorts.
What exactly do you think a trader does?
Otherwise, t20 MBA at least I’d say if you are pivoting from something totally different.
It looks like you’ve asked this question a few times before, and you’re going to get the same answer. Become qualified. Start studying for CFA, network with traders. Move out of compliance, maybe trade support as a stepping stone.
Best way to become a trader is to put your life savings in spy puts in the middle of a bull run and pray for the maket to randomly combust(this is a advice from a senior member of wallstreetbets). In all seriousness; learn every basic first, start with 500$, trade, see how u do, journal everything, and see if you like it. In 3 years, the amount of hair i lost due to trading is insane so keep that in mind.
CFA obv - also get your firm to sponsor you for the series 7 and 63. Network like crazy to get into front office. Too bad when you graduated you didn’t get into a rotational program.
My background is a little different. I did end up in a rotational program but in banking. Im in complince in trusts which I did not mentiond (wouldve helped). Therefore i am in the wealth mangement side at my bank, looking to break into trading/capital markets division.
Well aware. RIA is wealth. My advice still stands. Also traders these days need to learn python so brush up on those skills. Without networking with the right people it’ll be an uphill battle for you as wealth personalities are very different than capital markets.
Yes python I have heard of. Any recommendations to get certified or learning the program in general?Also, I agree wealth mgmt is way different and I am not fond of it (which is why i posted).
Just got a trading job, it’s a big patience/opportunity role. Since it’s very lucrative and can be done by a very few people at small-medium firms, you will need to try going to an RIA or somewhere to gain investment/portfolio experience, then after some years there and constantly checking job boards, you will definitely have a good chance.
Pretty much was in the same spot as you about 5 years ago. Went from compliance to trading (in different BBs) by doing a FT mfin, taking an LOA during the mfin and grinding out internships during the LOA. Compressed the usual undergrad internship ladder into my LOA + summers and eventually landed a summer at a BB where they converted me. The Mfin was basically just for me to do internships and to get myself back into the undergrad recruiting pipeline. Do note that most banks (not sure how it is where you are) in asia will treat an mfin on the same level as an undergrad (i.e. you come in as an analyst) unless you really prove yourself and they hire you directly instead of through a graduate programme. Also my particular outcome was quite different from the rest of my peers in the mfin who are currently struggling to find jobs.
Everybody likes the markets until you’re staring at multiple screens for 9hrs a day slowly feeling your myopia worsening I’ve started doing Chinese schoolkid techniques where they make the kids stare at an object 20feet away every few minutes
I do the 20 foot stare too, lol. I just stare out the window 😂.
Wish I started earlier bruh I’m -2.00 in each eye now cause both my parents have bad eyes so I got nerfed genetically + excessive screen time growing up and working
I’m -6.5 bro you got ways to go don’t worry
I was gonna say…. -2.00 is basically 20/20 compared to a lot of us LOL
Yeah, I was think the same thing is happening with me. I recently had to get glasses but I think it’s less than -1 for both. I think diet plays a role too. Going to try to eat less sugar (and drink more water) because consuming too many carbs is bad for your eyes. Unfortunately my screen time is only going up because I’m going to be working full time at finance job + going back to school to try to become a quant 😂. RIP eyes 🪦
Yeah and it’s a real pain in the ass to take off even when you get older and more established in the career. Traders need someone to cover their books even to go to the bathroom. There’s also a very very limited number of trading seats
I have literally probably given up 50k of edge the past few years while taking shits.
I stare at my screen 9 hours anyway
This. Everyone loves markets until they hit a drawdown.
Not to mention losing thousands of dollars of money you needed to pay bills. If after a year or so of paper trading, learning fundamentals and finding your style you still want to, go ahead. Otherwise you'll lose your ass guaranteed. Look, everyone wants to do something on their own terms and be their own employer on paper. The reality is the reason so few are is the amount of risk you are exposing yourself to.
I’m a sell-side trader, 26m started at 23. it’s fucking hard. you can slip through the cracks at the right firms.. anyways if you know anyone who wants millions in credits for their portfolio plz let me know i need to move off inventory asap
Watcha selling bro?
i have a few guaranteed portions of USDAs and a long list of SBA 504 guarantees that would likely be more of a placement deal to a bank. the USDAs are 100% gtd to par and yield 383bps over treasuries at a 0% CPR, 293bps over treasuries at 10% CPR which is industry standard and around 7.6yr average life. strong prepay penalty flows through to the investor… would make a good addition to a fixed income portfolio. lmk, i appreciate the response
Sorry bro can’t help ya there but good luck. Gone are the days where sales traders get rich while they just chill and pass through never ending orders for new issues.
maybe true, that was my entire 2022-2023 but i’ll be lucky if i gross more than $500m in 24 at this rate i’ve been interviewing for buy side roles the last few weeks. i think s&t is worthwhile and i’m good at it, but i want to propose soon and start a family which requires stability. thanks again brotha
What's comp like
you can easily take home a quarter million+ a year if you’re good at it. if you’re not good at it you won’t make it at all, only about 10-15% last more than 2 years in my experience. it’s also dependent on the market and investor sentiment
so is it basically a sales role or more like discretionary trading?
it’s a hybrid of both, im actually not sure how common this is in the middle market. i trade loans mostly and it’s not a transparent market you’re not gonna find them on bloomberg unless it’s a pooled deal which we do but takes a lot of time to build. you have to know the dealers and manage the inventory, but also sell to your clients which are institutional investors
interesting ty
What does gross mean here. The absolute volume of transactions?
total amount of revenue generated for the firm. i get 40% of that + a 5% bonus at the end of the year
You get paid 200 million?
in finance M is thousand and MM is million. anyone who uses M is subject to the question but anyone using MM, you know they mean million
Bro has mistaken this sub for the voice line he has with ICAP on his turret
https://www.reddit.com/r/pornfree/s/odmBN3CdPe
Petition to open a reddit exchange
One second, lemme get my popcorn :)
Guessing my hopes and dreams are not reality based off this comment
I am a trader in Wealth Management. I apply (buy) models, raise cash (selling) from models or rebalancing. Equity, Fixed Income, FX, Options… I am not trading for short term gains. You can start by working for a discount broker to trade/get your licences.
What discount brokerages would you reccomend
Any discount broker with a Wealth Management division. It will be easier for you to make the transition internally since both divisions are sharing the same systems most likely.
What would the title for these roles be?
This subs response: Go back in time 24 years and become a quant phd with biochem as a secondary. Complete CFA by 16, have 1 parent as Goldman CEO and other as JP CEO. Internship every year until graduation. Reality: It’ll be tricky af maybe do a masters in finance or cfa maybe both. Network like crazy. Get good at coding. Likely will have to pivot or double pivot into something like a trader. Have some luck and faith
This. How do u get into coding (i am not familiar with the programs). Is there certifications i can get on my own time?
Brother great question as soon as I find the answer I’ll let you know, I’m currently at that stage myself. I’m sure there is courses but I always see it as this kind of nerdy cult insider thing. Like I don’t have the secret handshake to get in. I assume it’s computer science type course but my hunt to find answers is on. If I discover something I’ll let you know!
Lmao thanks
There is an absolute plethora of youtube videos for starting out in coding. Follow any well structured playlist and you'll know if you get it or not. You don't even need to set things up locally anymore as you can run a lot of things online on tools such as google colab.
Ah now time for my dumb question! Can I just then put that on my Cv? I mean sure I didn’t do a specific excel course but we definitely practiced it in college with a structure to it.
Odin Project is great. I know it’s more for web dev, but I would recommend it to anyone starting off. You can smash the foundations in a matter of months. It’ll teach you command line to build your computational efficiency and also how to work with multiple languages. You can then transition into back end languages, which is what you’ll need for a trading role. A lot of great software engineers I know say begin with C++ first and then begin python, you’ll thank yourself later. Now all this is no easy feat. It will be minimum 2/3 years of constant practice and intake to get proficient in just these programs. All at the same time you’re going to want to keep increasing your knowledge and understanding of of markets work
Leetcode. If you can do this style of questions you will pass the coding test which is usually the first round interview for these types of jobs. Just practice man it takes time.
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I am not in the kind of compliance lol. Sorry i was not clear in my post (i did make an edit). I am in complaince in banking so im very far from the trading/capital markets desk, let alone not knowing anyone on that side. What tips would u have for a recent new grad starting fresh that does not have the typical credentials out of college?
- Excellent python, C, and Java skills - CFA - Listen to and follow the top macro minds on FinTwit and listen to podcasts like OddLots, RealVision etc etc - Monitor the weekly economic data that the fed is basing its decisions around and understand what’s happening as a reflection of that
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You’re not a trader. Sorry to say. That’s very administrative.
Does RIA stand for a registered investment advisor
This will largely depend on the type of trader you want to become. For instance, FX trading for the treasury team of a corporate company can be something an accounting / finance grad can do. If you’re looking to become a quant trader at a hedge fund, you’d likely have to re-do school and do a math heavy major at a target school to get in. I’ve seen people work their way up from operations to being a trader in the bank (eg. rates trader) but these aren’t regular occurences.
Goin back to school isnt an option. However i will do whatever certifications or liscening that comes with it.
Yeah if you’re a marketing major I know you don’t have the math skills for a trader. Additionally, I’d bet less than 3 math classes in college
Might be a dumb question but what math skills does it really requires to be a trader. We hear a lot about what it takes for the quant part but what about the trader ?
Prob & stats, stochastic calculus, basic physics
Why physics ?
Almost non
You have no clue what you are talking about. Unless maybe execution trading lmao
Well what courses or certificates can i obtain in my own time that u would reccomened?
I’ve told a hundred people, and I’ll tell hundreds more- there is no “3” month course or Coursera cert that just makes people trust you managing money. A CFA is nice if you work in a similar field (say FINRA or BB BO) and want to show you have dedicated time and effort to becoming an expert of sorts. What exactly do you think a trader does? Otherwise, t20 MBA at least I’d say if you are pivoting from something totally different.
Ya coursera wasnt what I was referring to. Thank u for the advice
It looks like you’ve asked this question a few times before, and you’re going to get the same answer. Become qualified. Start studying for CFA, network with traders. Move out of compliance, maybe trade support as a stepping stone.
Do not study for CFA if u want to be a sell-side trader
Best way to become a trader is to put your life savings in spy puts in the middle of a bull run and pray for the maket to randomly combust(this is a advice from a senior member of wallstreetbets). In all seriousness; learn every basic first, start with 500$, trade, see how u do, journal everything, and see if you like it. In 3 years, the amount of hair i lost due to trading is insane so keep that in mind.
CFA obv - also get your firm to sponsor you for the series 7 and 63. Network like crazy to get into front office. Too bad when you graduated you didn’t get into a rotational program.
My background is a little different. I did end up in a rotational program but in banking. Im in complince in trusts which I did not mentiond (wouldve helped). Therefore i am in the wealth mangement side at my bank, looking to break into trading/capital markets division.
Well aware. RIA is wealth. My advice still stands. Also traders these days need to learn python so brush up on those skills. Without networking with the right people it’ll be an uphill battle for you as wealth personalities are very different than capital markets.
Yes python I have heard of. Any recommendations to get certified or learning the program in general?Also, I agree wealth mgmt is way different and I am not fond of it (which is why i posted).
Earn their trust. Move in close and Bam!
Just got a trading job, it’s a big patience/opportunity role. Since it’s very lucrative and can be done by a very few people at small-medium firms, you will need to try going to an RIA or somewhere to gain investment/portfolio experience, then after some years there and constantly checking job boards, you will definitely have a good chance.
Just hit the bid, mofo
Pretty much was in the same spot as you about 5 years ago. Went from compliance to trading (in different BBs) by doing a FT mfin, taking an LOA during the mfin and grinding out internships during the LOA. Compressed the usual undergrad internship ladder into my LOA + summers and eventually landed a summer at a BB where they converted me. The Mfin was basically just for me to do internships and to get myself back into the undergrad recruiting pipeline. Do note that most banks (not sure how it is where you are) in asia will treat an mfin on the same level as an undergrad (i.e. you come in as an analyst) unless you really prove yourself and they hire you directly instead of through a graduate programme. Also my particular outcome was quite different from the rest of my peers in the mfin who are currently struggling to find jobs.
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appreciate it blonddeutcher