| Topic Name: |
Fixed Income trading |
| Message Name: |
Good Attitude |
| Date Posted: |
03/06/2003 |
| In Reply To: |
I don't go on these boards trying to impress people with my CV or intellectual capabilities. I have questions that need answering and the people here really know what they are talking about.
I know what a trader does. He goes into the market and tries to get the best price for the sales person who is on the phone to a client. You also have prop traders who try to make money for the bank with its own capital.
I only read what a swap was two weeks ago and I don't pretend to know a lot about them.
Fixed income is more technical and macro-orientated than equities and since I have studied a lot of maths and economics (but not accounting or finance) I will find it more interesting.
Who cares whether I know what a swap is or not? It doesn't make me thick, I think I have a lot of potential (despite not knowing anything about finance) and this summer is when I will prove it.
|
| Message: |
You come across as having the right attitude to make something of your internship, you are better off once you have your internship to pretend you are pretty ignorant as traders prefer to talk to you, they don't want to hear you speak much, you are a junior.
Just make sure that you show them you understand what they are telling you and you have your own slant/opinion on it. What I think the other guy was saying about interpreting market events, market makers as you correctly said make trades for sales, but, they also have to manage the subsequent position/positions that they take on. A lot of market making is understanding market sentiment and having a feel for the market, there is not a lot of time for analysis of macro variables etc. except for when you are trading in a thin market.
|
|
