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What can a trader do if they lose their job to an algorithm?

Say you were a trader at a bulge bracket bank with an econ degree and your job just got replaced by an algorithm- what should you do? What can you do? With banking, I know that one would build strong financial modelling and useful business skills so they can go into consulting or private equity and other exit oops. But for trading there aren't any exit opps when the job gets replaced by algorithms. So what can a trader do?

And how can one not lose their job as a trader assuming they did a econ degree and not a STEM degree?
(edited 7 years ago)
Learn C++ and Python whilst studying part-time for a PhD in Comp Sci/Maths or become a cuck

or trade exotics where liquidity is low
Reply 2
Avatar for Trapz99
Trapz99
21
Maybe go into a business school, MBA then do some thing else
Original post by inspiringtop123
Say you were a trader at a bulge bracket bank with an econ degree and your job just got replaced by an algorithm- what should you do? What can you do? With banking, I know that one would build strong financial modelling and useful business skills so they can go into consulting or private equity and other exit oops. But for trading there aren't any exit opps when the job gets replaced by algorithms. So what can a trader do?

And how can one not lose their job as a trader assuming they did a econ degree and not a STEM degree?


They can't go into PE, consulting with a focus on financial services is possible however.

Really, depends on what they're interested in, maybe B-school to reset. Maybe a different career altogether, maybe they learn to code, maybe they move to a hedge fund.

The most likely outcome is moving into sales, which many burnt out traders do as is.

Posted from TSR Mobile
(edited 7 years ago)
And yet people still go into trading without caring about the future... actually unbelievable
Original post by cashcash871
And yet people still go into trading without caring about the future... actually unbelievable


Not all trading can or will be automated in our lifetimes

Posted from TSR Mobile
Original post by Princepieman
Not all trading can or will be automated in our lifetimes

Posted from TSR Mobile


I know but banks are still hiring some vanilla rates and other vanilla product traders who will probably lose their jobs in a few years. Perhaps the exotic derivatives traders have a chance but there aren't many of them getting hired
Original post by cashcash871
I know but banks are still hiring some vanilla rates and other vanilla product traders who will probably lose their jobs in a few years. Perhaps the exotic derivatives traders have a chance but there aren't many of them getting hired


Nah, depends on the vanilla product. FX isn't going anywhere anytime soon for instance, nor is commods.

Posted from TSR Mobile
Original post by Princepieman
Nah, depends on the vanilla product. FX isn't going anywhere anytime soon for instance, nor is commods.

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But surely fx will be easy to automate since it's a simple, liquid product?
Original post by cashcash871
But surely fx will be easy to automate since it's a simple, liquid product?


Yeah but there aren't any exchanges to camp algos in

Posted from TSR Mobile
Original post by cashcash871
But surely fx will be easy to automate since it's a simple, liquid product?


http://news.efinancialcareers.com/uk-en/224614/how-to-avoid-losing-your-banking-job-to-a-robot-by-mckinsey-co/

That shows which desks will likely be automated and which won't. It's a lot worse than you think
Original post by Trapz99
http://news.efinancialcareers.com/uk-en/224614/how-to-avoid-losing-your-banking-job-to-a-robot-by-mckinsey-co/

That shows which desks will likely be automated and which won't. It's a lot worse than you think

Lol these traders are ****ed
(edited 7 years ago)
Reply 12
Avatar for 3121
3121
21
Join a trade union and a job agency
Original post by Princepieman
They can't go into PE, consulting with a focus on financial services is possible however.

Really, depends on what they're interested in, maybe B-school to reset. Maybe a different career altogether, maybe they learn to code, maybe they move to a hedge fund.

The most likely outcome is moving into sales, which many burnt out traders do as is.

Posted from TSR Mobile


Coolio, thanks

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