Educational Path for a trader

[pchan2018]

Hi All

Apologies if this may be out of topic of this thread, however let me give it a try. I have a kid that is going for his JC (assuming he passes his O level exam) and he has been aspiring to be a trader (nothing specific yet i.e. fx, comm, credit). Does anyone know the educational path for such aspirations?

Regards
P

 

[highsulphur]

To be honest it's almost 80% luck how one ends up with a trading position. Qualifications matters in so far the HR filters out the CV but time and space will determine whether there's a junior position open or not. Can try for summer internship with banks and hopefully have some exposure to trading or knowing some traders inside whom would be interested to hire him after graduation.

Personal track records mean nothing for hiring

 

[Emo_Rhino]

Hi All

Apologies if this may be out of topic of this thread, however let me give it a try. I have a kid that is going for his JC (assuming he passes his O level exam) and he has been aspiring to be a trader (nothing specific yet i.e. fx, comm, credit). Does anyone know the educational path for such aspirations?

Regards
P

Top grades + internship in global markets in banks.
Study computer science, the rest of the finance stuff can be learned via CFA charter etc.

 

[duhduhduh]

Is he sure he can deal with the stress that comes with it? Then also no life, everyday slog, lunch eat sandwich only.

 

[highsulphur]

Is he sure he can deal with the stress that comes with it? Then also no life, everyday slog, lunch eat sandwich only.

That's what you think while they eat omakase with clients and brokers

 

[d5dude]

Most trading has been automated, with advances in AI it will only be more so 10 years from now, your kid is going into a sunset industry.

Its best to go into comp science if your kid is interested in finance, there will be a lot more demand for quants and ppl who can program bots to automate existing roles.

 

[highsulphur]

Most trading has been automated, with advances in AI it will only be more so 10 years from now, your kid is going into a sunset industry.

Its best to go into comp science if your kid is interested in finance, there will be a lot more demand for quants and ppl who can program bots to automate existing roles.

I agree with this. Traders will be obsolete in 10 years

 

[highsulphur]

Very true.



Correct as well. They will ask everyone who got in to take CFA 1 to level the field.



If I have to start over, I'd be a commods trader. More $ and less intense.

A level subjects - PCME
Grade to beat - AAAB
CCA - Contact sports or athletics

Uni major - Anything but psy and soci.

I've met guys from aerospace engineering, chemistry and law on the trading floor.

JC internship - Dymon Asia is a good place to start exploring.

Merry X'mas.

what assets are you trading now? In a bank?

 

[chrisloh65]

May be just work as trader for 10 years and if successful and become multi-millionaire can start own hedge fund company and employ people to do the stressful jobs and ownself less stress?

Those unsuccessful ones like Shiny Things got to slough more in other job (after being kicked out as trader).

Is he sure he can deal with the stress that comes with it? Then also no life, everyday slog, lunch eat sandwich only.

 

[bluecutie]

Trading is experience one leh

A degree in finance will obviously by the most useful but even then it is usually 50% waste of time

U just give him 10k to trade up see how he does lor

 

[bluecutie]

Top grades + internship in global markets in banks.
Study computer science, the rest of the finance stuff can be learned via CFA charter etc.

Cfa is not difficult I dunno why ppl say it is I have seen the questions for lvl 1 and 2

Any business related or finance degree major should pass it

It also does nothing for trading one

 

[highsulphur]

That's like 5-10% of the time. 90% of the time is keep head down and get to work.

You seem to know a lot.



Yup you are right, automation aka technology has made things leaner. Certain parts will be sunset i.e the guys running an 'auto-hedge'.

I don't think we are at the stage where ML is taking over. We are still at the stage where the bot is still following rules written by man.

There will still be opportunities in other types of niches. Every code has a weakness and that can turn into a profitable exploit.




Used to do flow and prop for everything except commodities. Retired from that life. Moved on to other business.

Nice that you moved on. Waiting for that day to come for me

 

[Value.Matrix]

Cfa is not difficult I dunno why ppl say it is I have seen the questions for lvl 1 and 2

Any business related or finance degree major should pass it

It also does nothing for trading one

Lvl 3 is the killer usually.

 

[pchan2018]

Many thanks guys for the advises.. much appreciated..

 

[Entry Level PC]

Hi All

Apologies if this may be out of topic of this thread, however let me give it a try. I have a kid that is going for his JC (assuming he passes his O level exam) and he has been aspiring to be a trader (nothing specific yet i.e. fx, comm, credit). Does anyone know the educational path for such aspirations?

Regards
P

Tell him eat his meds and go sleep.
I saw the CV of a Trader before, late 20s, 2x Master Degree from Ivy League Uni.

 

[duhduhduh]

May be just work as trader for 10 years and if successful and become multi-millionaire can start own hedge fund company and employ people to do the stressful jobs and ownself less stress?

Those unsuccessful ones like Shiny Things got to slough more in other job (after being kicked out as trader).

Like that might as well set up as an IAM / Family office to manage other ppl money.... charge them 1% of the portfolio on yearly basis.

 

[chrisloh65]

Family office only for managing own family's money?
You need to get MAS license to openly solicit and manage other people's money. You need to setup a hedge fund or whatever investment company you want to call it and given a license by MAS (I suppose)?

Like that might as well set up as an IAM / Family office to manage other ppl money.... charge them 1% of the portfolio on yearly basis.

 

[sk0065]

Family office only for managing own family's money?
You need to get MAS license to openly solicit and manage other people's money. You need to setup a hedge fund or whatever investment company you want to call it and given a license by MAS (I suppose)?

The accreditation, (I mean licensing) process is not easy.
MAS have advisory and fund management license.
There’s also a VCC scheme that many fund managers are tapping in lately. Thus, there’s not shortage of positions.

The industry is not exactly small but the bar to enter is determined by if:

1) you are good
2) you are rich (connections)
3) you are Heng


If the client son’s finishes A level / IB and has 6 months to wait for college to start - an internship is only a phone call away.
Do what and learn what is another thing but at least it’s an internship.

 

[Entry Level PC]

For stock market trading. Most important is track record. They want to know if you can trade consistently. Got ivy league doesn't mean anything if you can't trade or help prop firm earn money

CSB.
If really so zai, be full time trader at home can liao.
Trader at Bank cannot do any personal causal stock option trading.
Min need to hold stocks for 30 days and every buy/sell trade requires approval.

 

[abcde83]

Hi All

Apologies if this may be out of topic of this thread, however let me give it a try. I have a kid that is going for his JC (assuming he passes his O level exam) and he has been aspiring to be a trader (nothing specific yet i.e. fx, comm, credit). Does anyone know the educational path for such aspirations?

Regards
P

Trader is an over generalised occupation or job scope.

some sale and trading personnel call themselves trader too but they are usually pass thru - passing of orders to market maker and does not market make or warehouse position.

some are market maker but with limits so tight that, it's really bid/ask spread business with no real position taking.

the last type, which is prop, is a sunset business in banks due to regulatory and heavy risk-weight (which translate to high capital charges).

Banks nowadays prefer fee-based income.

so I guess you really refer to Hedge Fund kind of trading?


1st of all, you need to understand the setup/prospects etc before you try to understand the education requirement of it.

good luck.