Anyone here with graduate degree in Financial Engineering or similar qualifications(quantitative finance/financial mathematics)? Are they useful for trading? It seems there are more and more colleges offering such program and the fees are quite high. The contents are usually very mathematical. I could not find any psychological training there. Are they only for people want to find a job in the big companies? Will those companies accept a math genius without trading experience?
While I donât have a degree in financial engineering I did take a fin. eng. course while at the MBA program at the U. of Chicago. I also took time series analysis (ARIMA, GARCH, etc.) and others. They are by their nature very mathematical and those methods can be employed to create trading systems in arbitrage or in attempting to predict direction. But doing that takes a lot of resources in time, skill and money. Itâs been done by companies like the former CRT, Hull and D.E Shaw but itâs probably much more difficult now than in the 80âs, for instance. Academic programs can be very demanding and in my experience turn out the quants that work for banks and other financial institutions, not usually as traders themselves. If those programs produced a consistent edge for quants, the market would be dominated by them. Big institutions are always looking for math geniuses. Several years ago the big thing was hiring top phyicists Stick with the advice on this board regarding discipline in your approach to the reward to risk ratio (gain/loss ratio, cutting losses-letting profits run) and psychology. To avoid dealing with the emotional part. Develop a purely mechanical system; these donât have to be based on all the quant stuff.
Thank for your comment. Why are they more difficult to do it now? What risk ratios are adviced here? I have been here for only a week so don't know them.
I knew a guy who earned the M.S. from IIT in Financial Engineering. He was right, and the market was wrong. Saw him blow out. Twice.
If you just want to trade, all you need is money. If you are looking to get a high paid salaried job on wall street, then you had better have personal connections or you don't stand a chance.
And I would trust nitro even if he slept in his mansion in Highland Park, but hey, I'm no financial engineer. What a term...is that for real? They put engineer on the back end of anything these days. The guy who comes out to fix my office copier is some sort of service engineer. In the old days we called him a repairman. I'm 46 so I ain't that old. Give me a break....finance engineer. I guess the checkout broad at the grocery store is a retail engineer. And the guy who cleans the crap out of my chimney is an environmental engineer. How about the dame that answers the phone when I call my broker, what's she...a customer service engineer? How about cashier, chimney sweep, and receptionist. Finance engineer.... you gotta be kiddin' me! You know what they used to call that... a math teacher. There's a sucker born every minute.