How to become a trader

hello all,

I currently work as a fund accountant having graduated with an accounting degree.

However, i am not certain i want to do accounting fro the rest of my life.

I've always been interested/fascinated with trading. Question is, i am 29 years old, have no experience in it. How difficult would it be to get a job as a trader's assistant at one of the big broker dealers, or even a small one. Or is there no hope for me? what do you guys suggest?

As this would be a huge change in career path (probably be taking a huge pay cut going from asst controller to trader's assistant)

I have been looking around these forums and read some great posts about book recommendations to get started.

Thanks in advance for the replies.

[midas]

Option 1 - apply to business school - Wharton, Columbia, MIT, Univ Chicago, or any finance heavy B school. Get MBA, apply for trader job.

Option 2 - Move to New York, seek out a job where you can be the accountant for a hedge fund. On the side, dazzle the traders with your money making ideas until they are forced to make you one of their own.

Good luck.

absorb everything you can about trading styles and then start to trade yourself also NETWORK

[ QUOTE ]
Option 1 - apply to business school - Wharton, Columbia, MIT, Univ Chicago, or any finance heavy B school. Get MBA, apply for trader job.

Option 2 - Move to New York, seek out a job where you can be the accountant for a hedge fund. On the side, dazzle the traders with your money making ideas until they are forced to make you one of their own.

Good luck.

[/ QUOTE ]

I guess i fall into option #2 since i currenty work as a fund accountant at a hedge fund here in NYC. Mainly long/short equities, ton of options, some equity swaps. In the past couple months here, i've learned a great deal about options ranging from basic strategies to more intermediate concepts like butterfly spreads.

But i guess should start thinking about money making ideas, wish me luck.

[Sniper]

[ QUOTE ]
I have been looking around these forums and read some great posts about book recommendations to get started.


[/ QUOTE ]

Start reading, start trading you own account, impress the traders at the hedge fund you work for.

Simple formula [img]/images/graemlins/wink.gif[/img]

[Paluka]

I think getting a job as an assistant trader is pretty easy, especially if you approach derivatives trading firms which still have a presence on the trading floors. I think an MBA is useless, you would much much rather get an advanced degree in Mathematical Finance or somesuch.

[ QUOTE ]
I think getting a job as an assistant trader is pretty easy, especially if you approach derivatives trading firms which still have a presence on the trading floors. I think an MBA is useless, you would much much rather get an advanced degree in Mathematical Finance or somesuch.

[/ QUOTE ]

Paul, how much do asst traders usually make? and i am assuming it will be easier to get a job as an asst trader at a broker dealer rather than a hedge fund.

[Paluka]

[ QUOTE ]
[ QUOTE ]
I think getting a job as an assistant trader is pretty easy, especially if you approach derivatives trading firms which still have a presence on the trading floors. I think an MBA is useless, you would much much rather get an advanced degree in Mathematical Finance or somesuch.

[/ QUOTE ]

Paul, how much do asst traders usually make? and i am assuming it will be easier to get a job as an asst trader at a broker dealer rather than a hedge fund.

[/ QUOTE ]

Okay first off I'm not Paul, I'm Paluka.
You are right that hedge fund jobs are harder to bet.
I think assistant traders probably start btw 35k and 65k.

[ QUOTE ]
[ QUOTE ]
[ QUOTE ]
I think getting a job as an assistant trader is pretty easy, especially if you approach derivatives trading firms which still have a presence on the trading floors. I think an MBA is useless, you would much much rather get an advanced degree in Mathematical Finance or somesuch.

[/ QUOTE ]

Paul, how much do asst traders usually make? and i am assuming it will be easier to get a job as an asst trader at a broker dealer rather than a hedge fund.

[/ QUOTE ]

Okay first off I'm not Paul, I'm Paluka.
You are right that hedge fund jobs are harder to bet.
I think assistant traders probably start btw 35k and 65k.

[/ QUOTE ]

Oops, sorry bout that Paluka.
thanks for the info.

[Sniper]

You might also find "Trading with the enemy" by Nicholas Maier, an interesting read.