megaead69 (September 5, 2008 at 8:28 am)

i work for goldman sachs and i get exited like that all the time, ooh and i'm also a rap producer... irony huh. i am on the toughes dudes on wall street ya dig?

prodigee411 (September 4, 2008 at 3:49 pm)

and a real trader wouldn't be so emotional, whether he was correct or incorrect, he is supposed to maintain composure and should have an exit strategy for either scenario.

prodigee411 (September 4, 2008 at 3:47 pm)

if he's betting 100 million on one eco announcement, it's got to be in a deep market; probably Currency, Bonds.

plevchenko (August 28, 2008 at 1:48 am)

lol what? NOthey are worried about the unemployment levels, because it affects the market and prices of loads of securities (financial contracts). the trader hopes that his bet (he thinks unemployment is going to be less than the market expects) is correct!

2226416 (August 26, 2008 at 1:30 pm)

Unemployment means that more people might want to take their jobs so they are all worried about the levels of it.

JPfromFlint (August 24, 2008 at 2:04 pm)

I know this may be a dumb question but why are they concerned about the unemploment numbers? I don't get it!

plevchenko (August 16, 2008 at 12:45 am)

how to get into trading? before you graduate, try and do a summer internship in investment banks (goldman sachs, jp morgan, morgan stanley...), specifically in sales&trading.You need an excellent CV, with excellent academic results and, preferably, some financial work experience, or smth to show that uve taken steps to learn about finance: e.g. u were a member of ur uni's finance society. THAT IS A MUST!!! typically, 11000 applicants compete for 60 places!!!!!

plevchenko (August 16, 2008 at 12:42 am)

and if you are clever, u can formulate your strategies to take advantage of the views, much like the guy in the movie.This is a recipe for a good trader. there are loads of average traders, who simply follow momentum, or use other people's tips as to "what's hot" to buy/sell. This frequently causes the market, to overvalue/undervalue the security. I.e. since you know its "fair" value, you know where the price really should be. So if its too high you sell, and if its too low you buy.

plevchenko (August 16, 2008 at 12:41 am)

so you gotta have excellent analytical skills and solid background in the markets your trading in (say, for FX you gotta know everything: not just FX itself, but also the money market (short-term debt: interest rates etc), macroeconomics (inflation, unemployment, etc). So you use your solid background to understand the events, and your analytical skills to interpet their implication on the prices of securities/contracts that you are trading.

plevchenko (August 16, 2008 at 12:41 am)

More importantly, confidence in your own decisions, and your own view on the market.Contrary to popular belief, financial markets are full of retards just like any other area. To question commonly accepted fallacies, you need to confidence in your own beliefs, when u take positions in the market, which can go against the market belief.