College Major for an FX Trader?

I'm new to the forums, so hi everyone.

I need some advice pertaining to my college Major.

I am very interested in Japanese and all things related to the Stock,Bond, Currency, Commodiy and Futures markets- and read in a career book that a foreign exchange trader would be a job that would allow me to incorporate both of those subjects.

My question is, what Undergrad Major is best for a foreign Exchange Trader or for a job in any financial service for that matter? I was thinking either International Political Economy or Economics , but was told that Finance would be better. What should I study that would help me with this type of job?

And also, can I specialize in the economy of Japan as an FX trader?

Thanks and God Bless

go with finance, for sure!

The College I intend to go to does not offer Finance, which I really don't like. They off Accounting and Business Admin, but not Finance.

Would Economics be a close second to that and be alright on my resume in place of finance ?

I find the economics useful. Should teach you all about the GDP, inflation, interest, etc.

Thanks for the reply.

forget the resume! its the knowlege you will gain from finance that makes it the clear choice. economics is much simpler. with a finance degree and reading a few economics books, you will know all you need to know about econ. but you will have a huge hole in your knowlege if you major in econ, because you wont learn the math and core principles of finance. imho

Finance, for sure. If it's possible, take economics as your minor.

I'm actually in the middle of a very interesting program at USC (Go Trojans!). It is a dual B.S./M.S. in Economics/Mathematics and Mathematical Finance. It is designed for those who want to go into quantitative analysis, but I feel it translates into trading very well. I love it.

andersenws

As I said, my college doesn't offer finance, they only offer accounting and business admin, which stinks. Unless I switch decisions. Ugh

Being that I am an economics major, I may have a bit of a bias. But, I say take econ. The guy above who talked about holes in not knowing finance has it backwards. What happens with a finance degree is that you know how to crunch your numbers, but you do not have an understanding of the big picture and how it relates to your trading. You may know WHAT the big picture is, but you have no idea HOW it moves, or WHY it moves...and guess what? If you're trading, you need to be able to predict the movement, which makes those how and why questions critical. Economics is supremely underrated.

Learn the big picture, then use that massive tool to learn how to trade.

-Northwestern U Econ Major

Thanks for the reply.

What do you think of International Political Economy ?

Finance major here. I really don't see how a finance degree would give one an edge in the FX market. An advanced understanding of economic concepts is in deed crucial to making appropriate decisions pertaining to Fx. In my opinion, one doesn't really gain that huge of an edge having either a finance or econ degree.
I chose finance, because (as Merlin mentioned) I found it the most interesting and challenging route for me. Kept things interesting and fun.

Best.

So what do you suggest, or are you just telling me your opinion?

To be honest, I'm not familiar with such a program. I would suggest calling the dean of the school you're interested in. That would be a great place to start to ask these types of questions. If nothing else, he/she would be able to steer you to the right person to talk to.

Keep in mind that although we like to argue one over another, there is probably no "perfect" major for an aspiring forex trader. Different majors will create different strengths. Pick up some books relevant to the major you're considering. Page through them a bit; try to discover which subject you're most interested in.

Also, of course, keep in mind that very few schools these days require you to declare a major before junior year, so if you try one major and seem to not like it, it's not as if you'll be stuck.

I know that, but I just want the longest education possible in one field of study.

I'll give you a link, go to carthage.edu/dept/ipe/require.cfm

i just finished my degree in business administration at Univ of Verm(had to take a mix of all courses including acct, finance, etc). I don't think you will find this to give you an edge, but coupled with Eco classes which i had to take as well, it gives you a better understanding of terms and such. My best suggestion is to just keep learning as much as u can while in college(books, HERE, demos, etc)

dunno if this helps at all, but thought I would chime in


mike

No, anything helps. Thanks!

Math/Statistics and Philosophy

OK. I'll throw my thoughts in the mix. I have a BA in PoliSci - emphasis in Int'l Relations and an MBA - emphasis in Finance.

You have two unrelated career choices you're asking about.

1. FX Trader - I can't say that my finance degree helps me out a ton with this. However, I'm a spreadsheet maniac and I don't know whether or not this was from, as Merlin stated, learning the core math, etc., associated with my finance classes. So, I think a finance degree would be helpful to a trader because it teaches you a lot of aspects of dealing with money. I think my financial valuation and related courses were more meaningful than, say, financial reporting. So, even if your college doesn't have a finance degree, look for something that teaches principles of financial valuation.

2. Another job in the finance industry - Yes, you need to have a finance degree. Unless you're planning on getting a master's or doctorate in Economics, don't plan on landing a killer job in the financial services field with just a BA or BS in economics.

With that said, you also need to consider what you want to do down the road. If you are absolutely sure about a master's degree and want to continue down the finance path, then, I would say to major in economics and then get an MBA or equivalent with an emphasis in finance. Being a finance major in undergrad and your graduate program doesn't make for a particularly well rounded individual.

Given your limitations, I'd say stick with econ if you are getting further education or just want to be a trader, but, try to take some finance classes. If you're not furthering your education, then, you might want to think about a transfer to a college with a finance degree.

oh and i was a major in history...try that

history repeats itself

most of all enjoy college, I know it sucks to not be going back at this time.