UKL Investment & Finance SocietyWatch
Is there anything specific that I could do in order to improve my chances of getting a job in IB??
but is it the right choice as I wish to enter IB after
my other potentiel first choices are:
York econ and maths
Notts econ and maths
UCL Maths with econ
Non of the unis specialise in Finance meaning reputation of the univeristy will play heavily on whether or not you get a decent IB job.
The footsie is on a roll atm going past 5000 mark and because 5000 is such a milestone taking into consideration of economics conditions (housing, pensions etc.) its very hard to determine the footsie's next direction.
Dunno about the costs tho. soz.
Exchange rates fluctuations day to day probably wont affect you much. However it is LEVERAGED. Leverage is the key to forex trading. Okay say you are a cable trader. You go long on GBPUSD (GBP will buy more USD) at 1.8850 and exit at 1.8890. Thats a .0040 differece or as we say it 40 pips/tics. Now the minimum position you can take in forex is a 10000 currency unit position. Basically you would buy a 10000 pounds against the dollar. Thus 1 pip/tic would be 1 buck. So that 40 pips is 40 bucks. Most of the big boy traders put in 10lot trades (1 million) thus 1 pip is 100 bucks. Some even go a lot more (top ibank traders) may place 100 lot order (10 million) where 1 pip would be 1000 dollars. So you can see how much it can amout to. Most people with a 2.5K to 5K account take 1 lot position (100000) thus if you made 40 pips you would be up 400 bucks for the day. The most successful traders average 100-200+ pips a day with high leverage. Thus the sky is the limit in trading. You really need to have a passion for this stuff to do well in it. It has to come to you.
BTW most trades last only a hour or two. So you have plenty of time for sleep and play .