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You will be better off going independent, than trying to break into the industry (unless your PhD was from a top program, and you're on the younger side). In t
by rgbgraph 3y ago
You will be better off going independent, than trying to break into the industry (unless your PhD was from a top program, and you're on the younger side).
In that vein, Ernest P. Chan's books will give you the toolkit to begin, and then you can figure out the rest as-needed. Quantitative Trading (2nd), Chan I believe is the first in the series. Algorithmic Trading I believe is the second. And Machine Trading is the last.
- mydriasis 3y agoThat's awesome, I appreciate it. Do I need a ton of money to start off? Is it better _not_ to have a lot of money to start off to create less trouble for myself?
- chasd00 3y ago> Do I need a ton of money to start off? well the best way to make a small fortune is to start with a large fortune ;)
- ladberg 3y agoI'd heavily advise not to do what they're recommending, and try out applying to trading firms if you want to break into the industry. I work at a trading firm and a decent number of our quants were all just programmers beforehand with no trading experience. Additionally, there's no downside to applying to a bunch of them and seeing if you get an offer, but there's a HUGE downside to gambling your own money in a field you don't understand. You could also do what I did and apply for a normal programmer role at a trading firm. Then you'll get some exposure to the quant world and if you want, you can try to pivot internally (I haven't done the last part and am not super interested, but plenty of people I know have).
- deleted 3y ago[deleted]
- boppo1 3y ago>Independent Really? Everything I've ever seen recommends against this.
- rgbgraph 3y agoDon't do it if you need the money. At that point, it's like any other hobby: horse-racing, sports-betting, or purchasing YCH commissions to hang up on your dining room wall.