What College Degree Is Best For FX?

Discussion in 'Forex' started by sub0, Dec 18, 2005.

  1. sub0


    I would like to be an expert trader in the FX markets.

    I'm currently working on finishing up my undergrad degree and was wondering what I should major in?

    At first I thought Finance, but then I did more research and found out that top traders don't major in Finance. They usually major in Math. And quant jobs are usually given to math majors.

    A top message board for quant researchers is filled with math students.
    But then you look at someone like George Soros and he majored in Economics.

    Then you read the Market Wizards and you hear these stories of traders that didn't even go to college and who say colleges won't teach you anything.

    Not just that, but most colleges believe in the efficient market theory, whereas most traders believe in the inefficient market theory.

    So what should I do?
  2. start by googling "forex fraud" or "forex scam". that will give you an idea of the pitfalls.
  3. drop out of college now you still can
  4. Generally speaking, Physics, Maths are better preparation for
    a career in trading.

    They are much harder to study also.

    If you know maths, physics, you can self-study most of the finance stuff.

    As far as Forex is concerned, do you know Bruce Kovner?
    He was a political science professor before he became one
    of the most successful trader/hf manager in currency trading.
    It is hard to say what makes a forex trader, your personality,
    your knowledge of the world, i.e. do you live and grow up in
    NYC or London? how much do you understand world economics
    and politics?

    I came to NYC from a different country and found the traders
    here are very informative of the world. I believe this is essential in forex trading unless of course you only do day trading.

    Hope this helps.
  5. BSAM


    None/Any.....Take your pick.
  6. Arrange your studies so that you will have something to fall back upon, if you discover that you don't have what it takes to succeed as a trader. Many try, few succeed.
  7. BSAM


    Good advice, Jim.
  8. Ha, I have math degree and it's completely useless.

    Do yourself a favor, matriculate in the 'psychology of crowds'
  9. Trading is far beyond the realm of education I'm afraid :)

    Get a degree in something you like, not related to trading. If you fail, you always have the educational requirements for a job you might love.
  10. Put some effort into studying anything to do with spatial/temporal/verbal composition (drawing, musical arrangement, film/video editing, poetry) to aid you in developing your sense of rhythm. Literary analysis will prepare you for deciphering the "theme" of current market conditions. Physical activities emphasizing coordination will also help round things out along the nervous system (eye-mind-hand reflex). And find a good weekly poker game :)
    #10     Dec 18, 2005