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An informative article on the career opportunities at proprietary trading houses was published at eFinancialCareers today. Drawing on information gleaned from contact with senior executives at houses like TCA Futures and Met Traders, the author describes the pros and cons, training and development opportunities, and of course, the financial benefits from going on such a career track.
However, more interesting to me was the first comment on the article:
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Also Recent
When you’re running off Windows XP or Vista, technical analysis (TA) software abound. But make a switch to Linux, and all of a sudden, you have (almost) nothing left. Sure, you can always use web-based services, but they’re never as responsive or full-featured as their desktop cousins.
Thank god for Qtstalker then, as this open-source TA package packs a mean punch (and development is back on track too!). A whole pot of options is available, all the way from custom indicators to backtesting and a paper trading mode (haven’t tried this yet but it seems like a good idea for beginners in the art ).
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One way to learn about trading (any sort of vanilla financial instrument), and of course, win some prizes, is to participate in virtual trading competitions. They may not be the most realistic of systems, particularly given that most allow you to trade as if each instrument had almost unlimited volume, but the fundamentals are still real enough to learn about. Read the rest of this entry »
Basics
The corporate finance group is usually under the investment banking division umbrella. Often shortened to CorpFin, investment bankers in this group help companies with their capital investment decisions (longer-term decisions) and also working capital financing (shorter-term decisions). Refer to Merrill Lynch (Capital)’s CorpFin group web page for a real-life example. Read the rest of this entry »
While this is an investment banking-related blog, it would be instructive to explain the concept of a commercial bank, if only to contrast what they do with what investment banks do. At the same time, universal/integrated banks like Citi and JPMorgan can really only be understood after you understand both their commercial and investment banking components. Read the rest of this entry »