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mahras
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#161
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#161
Ill join. Currently 10th grader in the US. Plan on being a hedge fund manager in the future. Traded equities for 3 years, started foreign exchange trading, and am in the process of starting a hedge fund specializing in both FX trading and equities.
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jOnNy BoRrEll
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#162
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#162
Ever tried CFD trading?
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RayOfHope
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#163
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#163
I have no idea which part of IB I am interested in or plan to do mainly because I try not to plan my life!! Will wait after uni to decide but any suggestions as to which part is best to do are welcomed.
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mahras
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#164
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No I haven't traded CFDs although I demoed for a few weeks. It is okay if you like trading Index CFDs and stock CFDs. I like broad trends where technical analysis can be used so forex is the way to go. Johnny, are you a CFD trader?
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mahras
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#165
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#165
Ornela,

Well in IB you have the M&A guys and industry groups. Different industries have different Ibanking team like industrials, transportations, tech etc. Then there are High Yeild Financing and other varied deal groups. Wanted to be a ibanker but its a boring job to me although others may like it.
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JrW
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#166
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#166
(Original post by mahras)
Ornela,

Well in IB you have the M&A guys and industry groups. Different industries have different Ibanking team like industrials, transportations, tech etc. Then there are High Yeild Financing and other varied deal groups. Wanted to be a ibanker but its a boring job to me although others may like it.
Do you enjoy what you are doing now? What are the hours like?
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mahras
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#167
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I am a part time trader and will soon start my own fund specializing in equities and trading. Trading is something you need to have a passion for. You can't be a successful trader through books. Practice and instincts are what the world's best traders/speculators have. About the hours for full time traders:

Ibanks S&T/hedge funds: Usually market hours. Depends on what desk you are in (New York, London, Asia). Usually 10 hours a day. Pay has almost no limit. The superstar 26 year old traders make seven figure compensation packages. Out of college you can make around say 55K base salary+10K sign in bonus+10-50K performance bonus. These are all in US dollars. Your performance bonus depends on your profitability, and your desks profitability.

Prop Trading/full time trading: You make your own hours. My mentor trades for around 4 hours a day and makes around 500-2K a day. This is after you subtract the 50% of the profits you need to give the prop trading firm. Pay has no limit. If you can make 4 million USD in a year and your firm charges 50% of the profits you make 2 million. Very RISKY unless you are a great trader. Many ibanks have prop trading desks which are highly respected. Many prop trading firms are useless. Only a handful are worth it. If you are good then this is a excellent place to trade.

Best UK schools for trading: LSE, Oxbridge, ISMA Centre-University of Reading. Personal picks: LSE and ISMA.
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jOnNy BoRrEll
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#168
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#168
unfortunately im not a CFD trader. I have had some experience a few months ago under my dads account was pretty interesting. Had a passion for the stock market for a while now. Been following it since 2000. When i first demoed CFDs i made £10,000 unfortunately for me it wasn't for real not a fluke though. If i had enough spare capital i would risk it but i need to save for uni!!
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mahras
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#169
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#169
No worries. Maybe take some cash out and start investing and then when you build up enough start trading?
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JrW
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#170
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#170
Could someone just explain to me the difference between Credit Derivatives and Equity Derivatives...
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jOnNy BoRrEll
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#171
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#171
Thats what i plan to do
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JrW
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#172
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#172
I have found some excellent resources for anyone interested in IB:

http://www.careers-in-finance.com/ib.htm
http://www.efinancialcareers.com
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JrW
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#173
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And here's a pointless plan of my life (at the moment):

PwC Gap Year Scheme
BA in Economics (Trinity, Cambridge)
MSc in Management (LSE)
IB Analyst (Goldman Sachs)
MBA (Harvard)
IB Associate (Goldman Sachs)

I don't have very high aspirations do I
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You
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#174
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#174
(Original post by jamierwilliams)
And here's a pointless plan of my life (at the moment):

PwC Gap Year Scheme
BA in Economics (Trinity, Cambridge)
MSc in Management (LSE)
IB Analyst (Goldman Sachs)
MBA (Harvard)
IB Associate (Goldman Sachs)

I don't have very high aspirations do I
What grades at GCSE did you get?
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JrW
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#175
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#175
Lol, omg this is going to sound so funny...

I am predicted 10A*s (alreay have one A*) i.e. I haven't taken them yet. That plan will probably change in few weeks
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You
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#176
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#176
(Original post by jamierwilliams)
Lol, omg this is going to sound so funny...

I am predicted 10A*s (alreay have one A*) i.e. I haven't taken them yet. That plan will probably change in few weeks
I don't think you should start planning so early!
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RayOfHope
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#177
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#177
I don't mind boring or risky jobs as long as they do not involve with me dealing with people directly. One of the reasons I did not wish to study Law, hence be solicitor. Is it best to do an Msci in Economics or an MBA???
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JrW
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#178
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#178
(Original post by You)
I don't think you should start planning so early!
my plan really is just to get 10A*s and then get good AS scores etc
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JrW
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#179
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#179
(Original post by ornela)
I don't mind boring or risky jobs as long as they do not involve with me dealing with people directly. One of the reasons I did not wish to study Law, hence be solicitor. Is it best to do an Msci in Economics or an MBA???
I would have thought that you can't go wrong with an MBA, but I can't really talk from experience
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RayOfHope
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#180
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#180
What sort of risks are involved in IB?? Is it a good thing to have a very impersonal view of things?
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