You neither are one of them. And you are probably even a smaller trader than myself and even more likely less profitable than I am.
Update on Career Trading Job: http://www.quantfinancejobs.com/jobdetails.asp?JobID=11391 Hedge Fund - High Frequency â Equities Statistical Arbitrage Prop Trader New York, United States of America JOB DESCRIPTION With an excellent track record for P&L and alpha generation, a leading systematic Connecticut based fund is looking to a skilled quantitative strategy & research specialist to their desk. This requires understanding proprietary strategies, being able to add new strategies as well as tweak existing ones; with the long term notion to become a trader outright yourself. For those want to be at the heart of the business and play a part in moving a thriving hedge fund forward this is an excellent opportunity. Location: Connecticut, USA The role: ⢠Research and strategize on equities High-Frequency trading. ⢠Focus on alpha generation with tick by tick or at least intra-day holding periods. ⢠Researching exsiting and new strategies to improve trade performance of the desk. ⢠Utilize experience within statistical arbitrage, high frequency and quantitative strategies. Requirements: ⢠An excellent quantitative PhD/MSc from a top school or leading university. ⢠Donât need a live strategy but should have accomplished ability to research and strategize. ⢠Have the aspiration to work for a top ranked global systematic hedge fund. ⢠Existent exposure to equities whether US, Asian or European. In return they are offering: ⢠A huge opportunity to attain significant progression within the high frequency trading world. ⢠Be hands on from a very early stage with the potential in time to trade outright yourself. ⢠Work with some very experienced high frequency traders. ⢠Do something meaningful â contribute to adding value to be the to player in the market. ⢠Enhance oneâs own diversity of credentials in becoming an absolute master in this space. This is an immediate hire, interviews are to begin soon and early application is advised. GQR also welcomes tentative enquiries from suitably qualified individuals. Confidentiality and utmost discretion is 100% assured. Key Words: Statistical Arbitrage, High Frequency, Electronic Trading, Systematic trading, US Equities, Quantitative strategy, quantitative research, automated trading, proprietary trading. Tick by tick, Intra-day, alpha generation. APPLY | quant-jobs@g-q-r.com VISIT US | www.g-q-r.com/vacancies While a resume is preferable we also welcome tentative enquiries from well-qualified persons. To speak with an agent please contact one of our regional offices using the contact details listed below. Utmost confidentiality and discretion is assured. LONDON | 020.3207.9090 St Clements House, London, EC4N 7AE | Office Hours: 9.00-21.00 GMT NEW YORK | 1.212.763.8333 1325 Sixth Avenue, New York, NY 10173 | Office Hours: 9.00-21.00 EDT HONG KONG | 852.3678.6738 2 Exchange Square, 8 Connaught Place, Central | Office Hours: 9.00-21.00 HKT LOS ANGELES | 1.310.806.9333 12100 Wilshire Boulevard, Los Angeles, CA 90025 | Office Hours: 6.00-21.00 PDT VISIT US | www.g-q-r.com | www.g-t-r.com | www.gqrgm.com GQR Global Quant, GQR Global Trading, GQR Global Markets We operate globally and leverage our extensive relationships to unite the most talented people with the most intellectually and financially rewarding career opportunities throughout Europe, the United States, Asia and the Middle East. We are committed to protecting and respecting your privacy. Information on our privacy policy, together with our terms of business are available at www.g-q-r.com. Salary/Rate: Up to $250,000 USD base (DOE) + extremely competitive bonus & P&L share Job Type: Full Time Term: Permanent
Hey dude you are in the wrong forum. I have the Msc in computer science expertise in C# (certifiied MCPD Winforms .NET 3.5) and I already automated my strategy (IB API) but I will not bother sending my CV neither the overwhelming majority of this forum users because we are bad ass traders who trade for ourselves. We don't have the mindset of ass kissers to work for the others. Good luck anyway if you get any resume from ET.
Here is another interesting article what a successful traders in the house can do: http://www.bloomberg.com/news/2011-...odities-trader-bombell-starts-hedge-fund.html Ex-JPM Trader Bombell Starts Hedge Fund Trading is a Career Professional. To become a successful trader, one must have a proper degrees. Fail to get higher education results to More than 90% of small traders lose. They just lose!
I don't have a degree or systems or methods , but I can make money everyday in the markets.I use t/a , gambling and a unique hedged way of making money.Nobody teaches my way. Regular profit 1% to 2% daily.I rarely post here nowadays.
The degree or higher level of educational qualification can only be the admission ticket of iBank interviews. They are not the guarantee of getting the jobs.
Actually the answer is that the winners take the money from the losers. If the 95% of all traders who are losers suddenly quit, where would the winners get their winnings from? Answer? Other winners, which would end up making those winners losers. And those losers quit too forcing the winners to take money from other winners converting them into losers also. Then there would be one guy with no one to buy from or sell to and the marke would be dead It is a fact, Wall Street has to put massive effort into convincing upper middle class Joe to put his money at risk so that the winners will have someone to win it from. Wall Street will not stop advertising how easy it is to trade or win, and suckers will continue pouring their hard earned cash into the pockets of winners. It's a financial food chain. Without prey, preditors become canibals which creates prey of their own kind. But someone will always lose. And it takes many small fish to feed one big fish, so the losers will always be in the majority. A degree in finance will not change that.
Here is an interesting old article: http://www.usatoday.com/money/perfi/columnist/krantz/2006-01-31-day-trading_x.htm according to the article: There are two main reasons why the vast majority of day traders will lose their shirts: ⢠Disadvantage to large institutions. why would your brother, with his discount brokerage account, think he can even have a chance against the resources of these well-funded trading firms? To become a successful professional trader, one must join the house and in order to join the house must have a proper degree. For example, http://www.infiniumcm.com/index3.aspx?linked=true# Job Responsibilities: Assist our trading teams with managing risk parameters and updates to positions. Run and Analyze proprietary trading systems and suggest potential improvements. Plan for and recognize changing market conditions and react quickly and accordingly. Proactive in learning and progressing toward becoming a professional trader. Background Required: Bachelor's Degree from an accredited 4 year University majoring in Engineering, Computer Science, Mathematics, Economics or related field. Strong Technical knowledge. Desk Clerks/Junior Traders are the initial contact point for all hardware and software difficulties. Experience with one or more programming languages (C#, C++, Java, Python) is required. Proficiency with Excel. The ability to communicate effectively and clearly is a must. Experience in the trading industry a major plus. "Proactive in learning and progressing toward becoming a professional trader." Higher Education is the key to become a successful trader.
And don't forget, MIT BlackJack Team made a million beating the house. They win becausef they are: Higher Educated
You really do seem quite confused. Yes, having a degree or MBA from a good school will help you gain junior level entry into an investment bank, which, as an institution, does have an edge. The degree in this case is a hoop you must jump through to get employed by the entity with an edge. Possession of higher degrees in itself does NOT give you any edge in the markets - nor will it keep you solvent. The people who broke LTCM, Lehmans, RBS and lots of other fine institutions were some of the most highly educated people around.