Advice needed on getting into Trading

9fcdhzkx46apgr

Hi everyone,

Just wondering if there are any Traders in Dublin on the Boards.ie that could give me some advice on getting into trading professionally.

I work in Finance in Dublin for a Fund Administration Company in an ops mgr role. I have about 3 years experience in total and am very keen to get into trading as I have a very keen interest in the markets and have began trading personally.

I am also studying part time at night time and hope to have a degree under my belt within the next year.

Can anyone advise on what avenues I could take that would get me in the door or at least close to a possible trading position? Am I being realistic of acquiring such a position without having a masters or PHD?

Has anybody had any experience of working as an assistant trader or the like?

Here is a link for a job on Irishjobs.ie

http://www.irishjobs.ie/jobdesc.asp?ID=5716206&MID=1998

Anyone have any experience of working for SIG?

Thanks everyone. Any feedback is much appreciated.

Mikel

No offence but you won't get a job there, that's Susquehanna, a quant trading operation.
Neither would I or 99.9999% of people out there, so it's not a dig at you.
They look for the cream of the maths phd types, and that's only the first hurdle.

Anyhoo, it depends what you want to trade, if it's very quantitative then phd's and MFEs etc are common,(not so much in Dublin) but you're not going to do a maths phd at night are you?

The problem you face is so many people want to move into trading.
The fact that you trade for yourself is something you should make a big deal of.

Also in a way, trading is trading no matter what the market is, there are a lot of similarities.

Is there any trading of any kind done where you are? It can be easier to be already in the company and nudge your way towards it rather than applying for a junior trader job with 10,000 other people.

Chance your arm with the spread betting firms, try your look down at Finex although I don't know how much is going on there anymore.
Your biggest problem will be getting your foot in the door.

You may have to wait a while too with the market the way it is.

9fcdhzkx46apgr

Hi there,

Thanks for the feedback. Unfortuantely no positions exist where I work in regards to trading. They would either be in the UK or the States.

I have just began to do a little spread betting of late and I'm enjoying it despite to constant heart failure!! Can you advise of any good companies in Dublin that may have positions open in this area? Do you think it would be a good avenue for getting my foot in the door?

Thanks again

Bluetonic

To be honest you'd be better off looking at something like this consider you'd not be a good employment prospect with regards to a trading role at the moment.

http://www.exp.ie/jobdesc.asp?ID=5849543&MID=4262

Any execution trading jobs would be a good place to also start until you get your academic qualification.

Mikel

Bluetonic wrote: »

To be honest you'd be better off looking at something like this consider you'd not be a good employment prospect with regards to a trading role at the moment.

http://www.exp.ie/jobdesc.asp?ID=5849543&MID=4262

Any execution trading jobs would be a good place to also start until you get your academic qualification.

That's a good suggestion, look for assistant or support roles, anything that gets you in the general are. This will give you useful experience, and will be easier to get into.
Nobody is hiring at the moment, but if you get a chance to work on or near a trading desk take it. Look at paddy power too, they have a sports trading operation, world spreads, Delta Index etc etc.

If I were you I'd apply for that job above and go in and talk to the consultant, get him to give your CV the once over, ask him what kind of things you should have on there.
It might take a while to get what you want, so spend the time adding skills you can put on there.

Learn Vba, matlab, C++, think about how to make yourself useful to a trading desk.

DJDC

Agree with Mikel, also try read up on brainteasers/basic maths for interviews.

Im guessing your working for a back office operation/tax haven in the IFSC for a global player like Citi, JP etc. Can I ask what degree you are studying for at the moment? It does matter.

ixus

I'd guess that job advert is for Susqeuhanna again, just recruiters readvertising it.

Mikel

ixus wrote: »

I'd guess that job advert is for Susqeuhanna again, just recruiters readvertising it.

They do that, it will get renewed every day, then when you ring up it will have been filled or 'they're not looking at the moment'.
Then the next day it will get renewed again, RC do this a lot.

Also, don't rule out moving internally to something closer to the trading room, depending on your age. If you are young enough a year or two in the back office could be useful (well a year), again, it can be handy having an assistant who knows how the back office works.
Is there a risk mgt dept where you are? Could be a good place to be for a while, you would get to learn how things are priced.

Remember everyone and his dog wants to be a 'trader', the first thing you will be asked is 'why?'
Make sure and have a good answer.
It could be useful to ask yourself first, keep up the spread betting, you'll find out soon enough if it's something you'd like to do every day

Gorill8

Jobs are like few and far between. Its not what it used to be thats for sure. At the moment its just boring, nobody is doing anything.
If you do want to get into it, I would personally, if given the chance again, try and get into the institutional sales trading, usually always busy, and a great working environment. Never been easy to get in to prob harder now! Best bet is offer yourself up as the office gimp, and take it from there, get in on an execution desk, you'll learn a hell of a lot about how to trade various instruments from that, and kiss some ass!

9fcdhzkx46apgr

Hi everyone - Thanks for all the feedback so far.

Blueyonic I had a look at the job and it sounds very interesting.

With regards to tech experience, I very familiar with SQL and I can write a little VB but nothing in C++ yet or C#

With regard to the degree I'm studying, I don't want to really give myself away here considering companies are letting people go left right and centre however I can confirm its a finance type degree an I'm cover subjects such as statistics, accountancy and economics.

My work experience is back office admin where I have would be involved in quite a bit of valuation work, pricing, accruals, etc... I manage a team there and the work we are responsible is quite analytical and would require good understanding of basic maths and accountancy.

With regard to why I why I want to get into trading, there are a number of reasons.

1. This is something I've always wanted to do since I was in secondary school (after giving up on ideas of being a rock star, etc....!)
2. I really enjoy the trading I am doing at the moment for myself and I would like pursue it professionally
3. I am very analytical and enjoy working in a mathematical environment and I believe this would be a great challenge for me. I also believe I would be very good at it
4. I believe the skills I learn in trading would one day allow me to be able to work for myself
And the list goes on.........

With regards to the job that was posted, what are the standard salary expectations? I'm making a very good wage where I am a present but I would consider taking a pay cut if it meant I could get in the door.

Thanks again guys for the advice.

Pal

there are three types of Trader jobs (for want of better titles, these are) ;

Sales
Prop
Scalper

Most people start on sales. You work for a bank typically. Sell some currency to a corporate and buy back the position from your own banks Prop Desk.
No risk.
You make a turn on the two trades.
Volume driven. Pocket a bonus for turnover.


The Prop guy has the good job.
He earned his stripe by doing his years on sales where he was very good and wanted to move up.
He runs the risk now with the position and if he makes a profit, he gets well bonused. If he loses money, he gets tinned.
Black and white.

The scalper is everywhere. he is the internet day trader, the small bucket shop tick merchant, the guy in the bookies etc.,
Most prospecting candidates at trader interviews claim to be this guy to get the sales job.

On a down note, jobs are scarce now.

daveirl

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