Day Trader Stigma in Getting into Business School?

Discussion in 'Trading' started by Ace_Rothstein, Jul 8, 2003.

  1. I currently trade NYSE stocks intraday - have been doing so very successfully for the last ~2.5 years after graduating from Ivy League university w/ degree in Financial Engineering. I was wondering if a B-school application from me (say, to the top 20 schools) would immediately be thrown in the circular file if they deduce the exact nature of my employment. Lots of my co-workers suggest using the job description that I run my own small hedge fund (which technically is true - I do have ~10M in buying power), but I am somewhat apprehensive about describing my trading that way.

    I understand these schools would have much more respect for some joker filling customer orders at a "prestigious" I-bank than someone who generates his own trading ideas and takes real risk with his own capital, but does anyone have any stories/experiences re: going to business school coming from a prop firm. THanks,

  2. Ebo


    Lie and tell them you run $100MM.

    I guess you are not very successful if you are going back to school and need help on an interview. Bro, this business is all about perception and who you know. You really need help if you have to lie about Day Trading. I have learned more about myself and Psychology Trading my own dough then any piss job I have had on any "Real" trading desk.

    Rock On
  3. Why are you going back to school if you are managing that much $$$?

  4. I read your post. I don't want to be negative, but if you can't be who you are than you should think about what you are doing.

    Are the people you trade with happy and content and do they accept you for your work. Probably yes.

    I have an MBA and will tell you that any school that would reject you on that basis is not worth attending. The essay you write or intervie that you go on is based more on your writing and speaking skills than your employment. If you know how to sell yourself in an educated manner than it doesn't matter what you do, you will get tin.

    And, if you think you need to lie to get into a school, than withdraw your application from that particar school becasue in the end, it isn't the right place for you.

    Good luck. Be honest, and if people don't like you, you always have your pride and the 10mm to invest.
  5. Good question... I was about to ask the same thing...
  6. If day trading is now an emphasis in some of the courses, then it's a great change from business school in the past. Day and swing trading are useful and profitable strategies.
  7. Does that mean I can be a brother now?!?!?!?!

    Or, a sister???
  8. I would definitely emphasize the entrepreneurial side of it and the investment and risk management side and not let the word "daytrade" appear on the application or say it during an interview.

    The one exception would be if you have a rahter marginal application and probably won't be accepted anyway. Then you might want to take a shot at standing out as someone who will add an interesting element to the class.
  9. acrary


    B school is about preparing for leadership. If your recommendations are from alum, have a +710 gmat score and focus your essays on future leadership, then you shouldn't have much trouble. As long as the daytrader role is in line with your future objective (leadership position in financial services), then it shouldn't have much bearing on admission.
  10. Not managing $10M but buying power. The equity may be less than $1M.
    #10     Jul 8, 2003