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My Job As: A Trader

Idu

Occupation: Trader

Qualifications held: BComm

Previous Jobs: none

Daily/weekly/yearly routine: Researching markets, dicussing strategies, trading would take up 80% of the work day

Age bracket: (optional) under 30

General comments: Great financial rewards, takes discipline and hard work, exciting, challenging, long days but plenty of down time during the day to relax, watch movies, gym etc etc

Day In The Life: (describes just a regular day in detail) In the office at 6:45. Find out what has happened in Asian markets overnight, what relevant announcements have been made, check overnight positions are correct for the 7am open.
7am to 9am European markets open so this time is all for trading.
9am - 1pm Down time. Can be used for research, sleep, watch tv, computer games. Whatever takes your fancy
1pm - 1:45pm US economic data released. Busy trading period
2:15 - 5pm US markets open and European markets close at 16:30. Trading
5pm - 9pm Down time until the US close at 9. Some European futures markets close at that time too. Oil closes and 7:30 and crops at 7:15. Trade for around 10 minutes around each of these closes otherwise it's down time.

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vanderlyvagen

That's fair enough. What would you say is the best shop to work at in Dublin?

Idu

vanderlyvagen wrote: »

That's fair enough. What would you say is the best shop to work at in Dublin?

I've only worked in one so I've no frame of reference. Positive is a great place to work though

vanderlyvagen

Okay, cheers

ggmad

Are you still trading Idu? In prop?

Idu

Yes I'm still prop trading. For this company www.myriad.ie

freeze4real

Idu wrote: »

Yes I'm still prop trading. For this company www.myriad.ie

Its good to hear from you can you give us another info, is your trading experience has changed.

TomRooney

Idu wrote: »

Yes I'm still prop trading. For this company www.myriad.ie

Hi Idu,

I had a look at the website, apparently Myriad are looking for trainees.
I have a big interest in trading, mostly FX but have only ever done it on demo so far.
I see from the site they seek people with programming skills and honours degrees in Engineering, Physics, Maths etc.

I'm guessing that rules me out, I'm half way through a 4 year part time degree in business studies.

Do you know if the 3 month internship is paid?

Thanks.

Idu

freeze4real wrote: »

Its good to hear from you can you give us another info, is your trading experience has changed.

Obviously being in a different office changes the experience but trading is still the same. Markets are constantly changing so keeping up with them keeps you on your toes wherever you're trading from.

If you want specific details feel free to ask I'll do my best to answer

Idu

TomRooney wrote: »

Hi Idu,

I had a look at the website, apparently Myriad are looking for trainees.
I have a big interest in trading, mostly FX but have only ever done it on demo so far.
I see from the site they seek people with programming skills and honours degrees in Engineering, Physics, Maths etc.

I'm guessing that rules me out, I'm half way through a 4 year part time degree in business studies.

Do you know if the 3 month internship is paid?

Thanks.

I wouldn't say it rules you out at all. In my experience passion for trading is the single biggest attribute people look for.

The internship is unpaid. Email the company if you want details of what the internship entails

freeze4real

Idu wrote: »

Obviously being in a different office changes the experience but trading is still the same. Markets are constantly changing so keeping up with them keeps you on your toes wherever you're trading from.

If you want specific details feel free to ask I'll do my best to answer

Hi Idu,

Is the company new as this is the first I have heard of it.

Idu

Yes they're new. Started trading at the beginning of this month. I should say that I'm a director of the company so I hope people can realise that while I'll try make my answers as truthful as possible and provide any information requested I wont be answering questions regarding hiring other than in broad terms and I wont be talking about other firms or comparisons with other firms on here

freeze4real

Idu wrote: »

Yes they're new. Started trading at the beginning of this month. I should say that I'm a director of the company so I hope people can realise that while I'll try make my answers as truthful as possible and provide any information requested I wont be answering questions regarding hiring other than in broad terms and I wont be talking about other firms or comparisons with other firms on here

Is there a deadline to apply for the internships and when does it start ?

Idu

freeze4real wrote: »

Is there a deadline to apply for the internships and when does it start ?

No deadline and tentatively set for an April start

freeze4real

Would an individual having a degree in IT make them better off someone who has a degree in economics or business.

Also having a background in trading be beneficial ?

Idu

freeze4real wrote: »

Would an individual having a degree in IT make them better off someone who has a degree in economics or business.

Also having a background in trading be beneficial ?

Would depend on the degree but generally an economic, business or math background is more easily transferable to the skills required. It's not the be all and end all but may be used in a tiebreaker situation.

Trading background isn't overly beneficial. Successful applicants will be taught a style of trading that isn't accessible to 99% of the individual traders out there so any previous experience wouldn't be a massive leg up. Obviously the more you understand about trading principles etc can only be a help

freeze4real

Idu wrote: »

Would depend on the degree but generally an economic, business or math background is more easily transferable to the skills required. It's not the be all and end all but may be used in a tiebreaker situation.

Trading background isn't overly beneficial. Successful applicants will be taught a style of trading that isn't accessible to 99% of the individual traders out there so any previous experience wouldn't be a massive leg up. Obviously the more you understand about trading principles etc can only be a help

Can you elaborate on the trading style which would be offered by myriad ?

You said internships should start arround april or thats the plan but would you make any provisions for those still in college by then as most colleges/universities finish around mid- may.

Idu

I'd rather not discuss the specifics of it but it would be mostly intraday on a short term basis with scope for longer term trades if the situation called for it.

There will probably be another round of interviews later in the summer to cater for recent graduates.

If college students wish to apply now with a view to taking a position in the next class of interns we would encourage you to send in your CV

TomRooney

Idu wrote: »

I'd rather not discuss the specifics of it but it would be mostly intraday on a short term basis with scope for longer term trades if the situation called for it.

There will probably be another round of interviews later in the summer to cater for recent graduates.

If college students wish to apply now with a view to taking a position in the next class of interns we would encourage you to send in your CV

I know your website says it's not mandatory to have a degree so I presume it would be ok for someone studying part time to apply?

Also what do you think of trend following? Would it be applicable in your system?
Obviously I understand there has to be a certain level of operational security so it's understandable if you would prefer not to say.

Idu

All applications will be treated equally. There is no black and white set of skills that make a great trader unfortunately.

"The trend is your friend" -

freeze4real

How many trainee traders are you getting, on your webpage it says 5 but would you increase it.

Idu

Would depend on the standard of applicants but I would say 5 will be the maximum for this class anyway

sganyfx

Is there any tutorials or websites which you could suggest to people who wish to develop the needed programming and excel skills needed to work as a trader?

Idu

You don't need programming or excel skills to work as a trader. They're a helpful tool but not essential(yet). I'm sure there are courses in each but I don't know any.

freeze4real

Idu wrote: »

Would depend on the standard of applicants but I would say 5 will be the maximum for this class anyway

Any ideas on when the next class will start and Will each students have their on mentors ?

TomRooney

freeze4real wrote: »

Any ideas on when the next class will start and Will each students have their on mentors ?

I think he has already said several times it is provisionally set to start in April.

freeze4real

TomRooney wrote: »

I think he has already said several times it is provisionally set to start in April.

I meant the next class after the one in April.

Idu

freeze4real wrote: »

I meant the next class after the one in April.

No idea sorry. Focused on the first class for now

freeze4real

Idu wrote: »

No idea sorry. Focused on the first class for now

No probs, thanks for the answers and I'll definitely apply.

sganyfx

Idu wrote: »

You don't need programming or excel skills to work as a trader. They're a helpful tool but not essential(yet). I'm sure there are courses in each but I don't know any.

Ah ok thank you

Just after reading on the website you previously linked that they were ideal.

Idu

sganyfx wrote: »

Ah ok thank you Just after reading on the website you previously linked that they were ideal.

As I said they're helfpul but nobody is going to be passed over on the basis of their excel or programming skills alone