Best college major for trading

Discussion in 'Trading' started by TradeRanger, Nov 12, 2003.

  1. Dogen3


    On further consideration I have to change my vote to Social Psychology (vs. individual psych) with some sociology and computer classes (if not actual minors).
    #21     Nov 12, 2003
  2. bobcathy1

    bobcathy1 Guest

    Hands down......MATHEMATICS.

    Makes is so much easier.

    (this is from a math deprived person married to a math whiz)
    #22     Nov 12, 2003
  3. What level of math have you found useful, or do you
    think is required?

    In my computer science program I had to go as high
    as Calc III and Advanced Statistics... throw in some linear algebra
    and I had my fill.

    Ive found that highschool level math, and basic stats have been good enough to develop trading systems.



    #23     Nov 12, 2003
  4. too many traders run their trading like a hobby or pastime.
    Learn what goes into running a business, you will be a better trader for it and have a much different outlook than most newbies.

    Business plan plan

    startup capital.... startup capital

    how you will pay the bills when you start out....... the learning curve

    you get the idea
    treat trading like a business and you will be able to handle the ups and downs much easier because you have planned for good and bad times BEFORE you start.

    I was an entreprenuer for 15 yrs before I started trading full time.
    It has enabled me to mentally be much tougher than 99% of the trades I have met in the last 4 yrs
    #24     Nov 12, 2003
  5. Get a finance degree, with an emphisis in capital markets.. you got to figure out how the big picture works. Once you know this you will have increased your probability of success exponentially.

    Learn how the markets interelate. Learn how an institutional trade is executed. Learn how to value a company and find a range of worth for "fund"imentalists. Learn technical analysis and its varying degrees of importance in different time frames. Finally learn to be comfortable with money.. A finance degree will aid in this. Sure its real money, but you have to detach from it to be successful and advance to adding more 0's to your trading.

    best of luck,
    #25     Nov 12, 2003
  6. bobcathy1

    bobcathy1 Guest

    As far as I can have had enough math!:)

    I rely so heavily on canned indicators and people who are nice enough to design them for me and tell me how they work. I just follow a map every day...... I could not begin to say what you would need!

    Bob looks at the market in the morning and can tell me the direction from calculations he does in his head. He is a born tape reader. He said geometry is particularly important and all the advanced math.

    This really give me a chuckle. He is bent on my doing ALL the family trading. And I am as prepared as a rock. Good god, I can't even balance a checkbook! :confused:
    #26     Nov 12, 2003
  7. All of the above are good. Here are some thoughts from a discretionary trader:

    I would simultaneously learn some form of martial arts.....tai chi, karate, kung fu...whatever....learn ZEN. Learn how to play poker. Learn the rules of blackjack, especially regarding bet size. If you don't know yourself more than the average joe are going to have trouble. The same if you BLINDLY follow crowds...leaders are a different story. Do whatever it takes to make you tough. Get physically strong, if you aren't already. Learn how to listen. Learn how not to listen. Knowing what is going on in the sports world helps. Picking teams, picking markets...same deal. Learn how to identify an edge in everything you do, classes, relationships, everything. As far as math, however much you study, make sure you walk away with an intuitive grasp of what it it.

    Do everything in your power to improve your memory, if it is not already fantastic.

    You are undertaking a long career. Quants are the in thing now.....and maybe it stays that way, but you want to develop the savvy that it takes to be come a real good trader, it's the other stuff that is gonna kick you up the notch it takes to get there.
    #27     Nov 12, 2003
  8. Mecro


    No finance degree ever helps trading. In fact, Finance degree is worth about nothing right now. Only value it has is that it touches upon statistics for business.
    It may get you interested in stock markets and trading but does not teach anything important about the markets and how they really work. Just broad theories, concepts and formulas. Most of the info taught is pure BS by some professor who still believes trader = stock broker.

    It was stated before. Institutional desks want quants. They want price models for whatever it is they are trading. Heavy derivatives work. A lot of statistics. You should Excel's statistics add-ins because all major banks rely heavily on those (IB also).

    Not too exciting unless you're a total math freak. I placed out of college Calc and may like number work but I certainly do not like the level of quants that these guys want. I think they plan to have models start making trades for them.
    #28     Nov 12, 2003
  9. bobcathy1

    bobcathy1 Guest

    Yes, I agree....
    Learn to card count and play blackjack.
    #29     Nov 12, 2003
  10. Don't most Philosophy majors end up working at coffee shops???:p
    #30     Nov 12, 2003