Money Managers - Looking for Currency Trading Positions | Page 2 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

EA "Close all positions at profit target" closed all positions at loss ? 9 replies

Brokers and money managers 8 replies

Broker for money managers 1 reply

Attachments: Money Managers - Looking for Currency Trading Positions
Exit Attachments

Money Managers - Looking for Currency Trading Positions

  • #21
  • Jan 14, 2008 10:16pm Jan 14, 2008 10:16pm
It depends whether you have substantial experience you can contribute with or not...

When hiring new players, the institutions mentioned often look for top school mbas with solid academic records, a distinguished competitive spirit (sports awards, high SAT scores, etc.) and strong computer literacy (ability to work seamlessly with such programs as C++, etc.). At that stage, they prefer individuals with no real exposure to the markets, that way they do not have to do any unlearning before they teach them how to perform their work depending on the various positions they may end up holding. Starting salary is not bad (about $80,000 + bonus - generally in the six figures).


If you have significant experience (> 5 years of exceptional returns with a humble account - mid six figures) and are a quant trader (develop and
trade based on quantitative or statistical driven models) then it won't be too hard to find an interview very soon. All they care about at that point is the level of risk you take and how you handle it...they ask a lot of questions pertaining to psychology.
There aren't as many discretionary (long/short, arbitrrage,etc...) trading opportunities going around and, in general, such openings demand someone with distinguished academic achievements in economics or what have you or substantial experience in the industry.

Then again, it's all about who you know.


Good luck.
  • #22
  • Jan 14, 2008 10:17pm Jan 14, 2008 10:17pm
Quoting acumen
Have an edge...hmmmm.

I guess I do.

I win.

What else is there?
Serious? I took your first and consecutive posts as being that you trade profitably for yourself, but want to trade higher capital, as you will be inclined to make more money from the % fees of a higher acct.

I gave you the name of a person, who, if you had just looked at his profile, let alone read some of his posts, you would have realised that he has access to allocators, and some serious large $$ value clients.

So, not a matter of whether I am serious, the question is, are u?

Regards,
K.
  • #23
  • Jan 14, 2008 10:25pm Jan 14, 2008 10:25pm
Quoting dunningduke
It depends whether you have substantial experience you can contribute with or not...

When hiring new players, the institutions mentioned often look for top school mbas with solid academic records, a distinguished competitive spirit (sports awards, high SAT scores, etc.) and strong computer literacy (ability to work seamlessly with such programs as C++, etc.). At that stage, they prefer individuals with no real exposure to the markets, that way they do not have to do any unlearning before they teach them how to perform their work depending on the various positions they may end up holding. Starting salary is not bad (about $80,000 + bonus - generally in the six figures).


If you have significant experience (> 5 years of exceptional returns with a humble account - mid six figures) and are a quant trader (develop and
trade based on quantitative or statistical driven models) then it won't be too hard to find an interview very soon. All they care about at that point is the level of risk you take and how you handle it...they ask a lot of questions pertaining to psychology.
There aren't as many discretionary (long/short, arbitrrage,etc...) trading opportunities going around and, in general, such openings demand someone with distinguished academic achievements in economics or what have you or substantial experience in the industry.

Then again, it's all about who you know.


Good luck.
Holy cow!
Good thing I declined. I would have been toast!
Carpe Divitiae
  • #24
  • Jan 14, 2008 10:26pm Jan 14, 2008 10:26pm
Didn't mean to question your intentions.

I apologize.

Thank you for your post and your advice.

Sincerely appreciated.

Thanks again.
  • #25
  • Jan 14, 2008 10:38pm Jan 14, 2008 10:38pm
dunningduke...

I've been a computer nerd most of my career but I'm not an economist by any means and don't believe you need to be to be a solid trader.

I believe the opposite. The less I'm tainted by expert opinion the better. I trade based on price action.

An MBA to trade? MBA's look great on resumes but I've seen a great many in my travels in the computer industry and I'm not that impressed.

I'm not questioning your post... I believe a lot of it to be true but drive and passion will trump any standardized tests and high GPA's any day of the week.

I do appreciate your input.

Sincerely - thanks.

m
  • #26
  • Edited 10:47pm Jan 14, 2008 10:42pm | Edited 10:47pm
Quote
MBA's look great on resumes but I've seen a great many in my travels in the computer industry and I'm not that impressed.
You have to compare apples with apples.
Way different industries altogether.

I do agree though that it doesn't necessarily make you a better trader. But, you're trying to get your foot in the establishments door aren't you? :
Even if you don't have mba's etc. it's no excuse for not getting a "career certification" or professional tertiary certification of some kind.
Think IT then if you will. I too am in it/telecoms. No I don't have an MBA, BSc even. But I do have a CCIE. Still carries some, if not more clout. There is of course no substitute for "hands-on" experience though.
Carpe Divitiae
  • #27
  • Jan 14, 2008 10:46pm Jan 14, 2008 10:46pm
Quoting acumen
dunningduke...

I've been a computer nerd most of my career but I'm not an economist by any means and don't believe you need to be to be a solid trader.

I believe the opposite. The less I'm tainted by expert opinion the better. I trade based on price action.

An MBA to trade? MBA's look great on resumes but I've seen a great many in my travels in the computer industry and I'm not that impressed.

I'm not questioning your post... I believe a lot of it to be true but drive and passion will trump any standardized tests and high GPA's any day of the week.

I do appreciate your input.

Sincerely - thanks.

m
What you're arguing is a common problem with society. Having said that, knowing how to do something means peanuts in today's world. It's about who, what, where, and how long you've been doing it.

Your statement was one typical of nearly every entrepreneur I know and means that you should be seeking to own and manage a fund, not work for someone else's.

Just my 2 cents.
  • #28
  • Jan 14, 2008 10:58pm Jan 14, 2008 10:58pm
Quoting acumen
An MBA to trade? MBA's look great on resumes but I've seen a great many in my travels in the computer industry and I'm not that impressed.

I'm not questioning your post... I believe a lot of it to be true but drive and passion will trump any standardized tests and high GPA's any day of the week.
An MBA with high class ranking from a top 20 school is unfortunately the price one must pay to land an entry trading job at a tier1 hedge fund today. unless your dad, or someone you know, is a long-time partner at an institution like GS, odds are you will be trading price action from your computer for a long time. But don't let that put you down - look at Dan Zanger...
  • #29
  • Jan 14, 2008 11:13pm Jan 14, 2008 11:13pm
just one person but my friend now works at a hedge fund

Worked as an options trader for Morgan Stanley(undergrad degree only)

Moved to hedge fund recently(has multiple depts, tech analysis, fundies, math etc)

Said personality is more important then anything else. No surprise really.
  • #30
  • Jan 14, 2008 11:52pm Jan 14, 2008 11:52pm
Quoting acumen
Didn't mean to question your intentions.

I apologize.

Thank you for your post and your advice.

Sincerely appreciated.

Thanks again.
No probs. Just remember to pass a small % of your big % fees when you make it big. http://www.forexfactory.com/images/icons/icon12.gif

Cheers,
K.
  • #31
  • Jan 15, 2008 1:13am Jan 15, 2008 1:13am
Quoting acumen
Why wouldn't a bank or hedge fund hire a trader that was consistently profitable.

There aren't that many guys who can consistently beat the market month in and month out... and prove they can do it?
Yeah but isn't beating the market month in and month out is different when you are a bank because of the large volume and you'd be moving the market with your trades?
  • #32
  • Jan 15, 2008 7:17am Jan 15, 2008 7:17am
Thanks again.

m

  • #33
  • Jan 15, 2008 7:20am Jan 15, 2008 7:20am
Quoting youalreadykn
What you're arguing is a common problem with society. Having said that, knowing how to do something means peanuts in today's world. It's about who, what, where, and how long you've been doing it.

Your statement was one typical of nearly every entrepreneur I know and means that you should be seeking to own and manage a fund, not work for someone else's.

Just my 2 cents.

Appreciate the reply... thanks.

m
  • #34
  • Jan 15, 2008 7:44am Jan 15, 2008 7:44am
Quoting acumen
Appreciate the reply... thanks.

m
If it means anything, that's also the path I'm choosing to take. Like you said, better to get x% of $1,000,000 than x% of $10,000 but even better to keep 100% of x% of $1,000,000 than get x% of x% of $1,000,000.
  • #35
  • Jan 15, 2008 8:05am Jan 15, 2008 8:05am
Quoting youalreadykn
If it means anything, that's also the path I'm choosing to take. Like you said, better to get x% of $1,000,000 than x% of $10,000 but even better to keep 100% of x% of $1,000,000 than get x% of x% of $1,000,000.
That's also a very good point.
  • #36
  • Jan 15, 2008 8:07am Jan 15, 2008 8:07am
Quoting ChesterB
Yeah but isn't beating the market month in and month out is different when you are a bank because of the large volume and you'd be moving the market with your trades?
I'm not sure what it takes to move the currency market but I'm sure it's a big number.

I'm not looking to trade a billion dollar fund - a few million would probably keep my clothed.
  • #37
  • Jan 15, 2008 8:15am Jan 15, 2008 8:15am
Quoting dunningduke
An MBA with high class ranking from a top 20 school is unfortunately the price one must pay to land an entry trading job at a tier1 hedge fund today. unless your dad, or someone you know, is a long-time partner at an institution like GS, odds are you will be trading price action from your computer for a long time. But don't let that put you down - look at Dan Zanger...
So possibly my next thread should be: How to raise capital or give your good friend Acumen a mil or so.
  • #38
  • Jan 15, 2008 8:51am Jan 15, 2008 8:51am
Quoting fsiltd
You have to compare apples with apples.
Way different industries altogether.

I do agree though that it doesn't necessarily make you a better trader. But, you're trying to get your foot in the establishments door aren't you? :
Even if you don't have mba's etc. it's no excuse for not getting a "career certification" or professional tertiary certification of some kind.
Think IT then if you will. I too am in it/telecoms. No I don't have an MBA, BSc even. But I do have a CCIE. Still carries some, if not more clout. There is of course no substitute for "hands-on" experience though.
So... I'll take the cash required to get a MBA and apply it to my trading account. Thanks for the reply.
  • #39
  • Jan 15, 2008 10:54pm Jan 15, 2008 10:54pm
Quoting acumen
So possibly my next thread should be: How to raise capital or give your good friend Acumen a mil or so.
I never meant to put you down acumen, but the qualifications that I laid down are pretty much standard requirements across the industry. That does not mean that you cannot find a position with a small hedge fund, or cannot meet a contact who'd be able to help you like that dude from the pursuit of happiness. Remember, out there, there are a ton of different trading roles... "trader" is a term used very loosely...some are market making and some are sales positions whereas others are what you think of when you think "trader" (as in prop).


If you want to make sure you get a great starting trading job with a top tier institution or hedge fund, a top school mba with solid academics will open all kinds of doors to you. While great personalities are sought after in investments and investment banking, many firms in the street or the city don't really care very much about that quality when hiring quants.
  • #40
  • Jan 15, 2008 11:00pm Jan 15, 2008 11:00pm
Quoting acumen
So... I'll take the cash required to get a MBA and apply it to my trading account. Thanks for the reply.
It depends which school you're getting your mba from...

In my opinion, if you do not get it from a top 20 school, you're not necessarily wasting your time, but you're not distinguishing yourself as much by getting the degree.
1 trader viewing now