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High profile british investigative reporter lambasts binary options labeling it a complete fraud
During University I developed a great interest in the financial markets from some of the modules which I had studied. My interest also stemmed from family friends who were in the industry. After conducting some more research into trading, I quickly realised that it can be a very rewarding career, both financially and on a personal level.
This was the kind of career I was looking for. During the summer after my first year at university finished, I felt it was a great time to learn more about the potential career I was looking to get into. I found myself gathering information from the internet, and came across a training course which taught me the basics about the financial markets and how to trade them. Whilst on the course, I became hooked on to trading and looking back, it was the best investment I have ever made in my life.
I built up a good relationship with the trainer who helped me to get some unpaid work experience at a stock brokerage firm. After the summer, I felt for sure that trading was the area I wanted to go into, and I now had a good foundation to build on in my quest to become a trader. I opened a demo account with a broker where I was able to trade the live markets but not with real money. This helped me to understand the markets and also put some of the concepts which I had learnt during the course into practice.
I was reading whatever I could about the markets and seeing how it impacted them. Once my confidence increased, I borrowed some money from my father and started trading real money on the side while I was studying.
I feel this was of paramount importance, as making and losing real money helped me to enhance my trading a lot quicker, as I focused more now that the money was real. The next step I took was to begin applying for trading internships at the major investment banks to carry out during the following summer. After writing endless pages on my strengths and weaknesses for the applications, I started to receive some favourable replies from banks for interviews.
I knew I had to stand out. I will never forget the first interview I had. As you can imagine, I was very nervous. Obviously this was not the answer he was expecting, and when I got rejected for the role, not the answer I was hoping for either. I found myself going through numerous first round interviews at some of the banks, which helped build my confidence and improved my interview technique. I feel when you are applying, it is a numbers game, so do not just stop at a few.
Also, you really must make sure you research the role at the bank and go in armed with a sound knowledge about it. I recall fondly the day in February , when I was in the computer room at university slightly hung-over from the previous night, that I received an email from a person with an email ending in gs.
To my delight I had been. I spent the next few weeks preparing for the interview by memorizing my CV and application form, reading the FT every day, and maintaining my trading, so I could display a greater understanding of the markets.
I walked into the Goldman Sachs offices on Fleet Street, and knew instantly that this was where I wanted to be. As I waited in the meeting room, the butterflies increased in my stomach to the point where I thought there was a royal rumble taking place.
I heard some footsteps, and then someone from Human Resources walked in and interviewed me on my CV and accomplishments. After 30 minutes or so, she left and sent a trader in to speak to me. This brash guy then walked in with a watch bigger than Big Ben, and asked me what my view is on the market.
No hello or anything. I talked to him about the trade which I had placed on my trading account. He was deeply interested in it, and wanted to understand my logic as to why I had placed the trade.
I explained, and was quietly confident when he stated he was worried I would come in and take his job! I quickly thought that he was obviously joking. I left their offices that evening, having been told not to call them, but that they will call me. I never received a call during the next week, and started to worry that I had not got through.
The following Monday, I received a call stating I had been successful and am through to the next round where I will have 8 interviews! As I put the phone down, I was happy but I knew I had to start preparing. I returned to their offices on Thursday and was met by the same HR woman I had met in my first round interview.
She walked me into a meeting room, where she was closely followed by the Head of FX trading. I thought this is one of the most bizarre interview techniques I had come across; I thought I must do one of 2 things. Eat the tennis ball to be polite or come out with a good answer. Luckily for my stomach, I chose the second option. Silence in the room was met by laughter from him, and I knew I had made a good first impression on him. We spoke about the markets and all went well as did the other 7 interviews.
I received a call shortly after I left the offices and was invited back for an assessment day. The assessment day is where I also met the other candidates for the roles. I was shocked to realise that they were from universities such as Harvard, Stanford,OxfordandCambridge! At the end of the day, having done some group exercises, presentations, tests, interviews, etc, I felt exhausted, but felt I had done my best.
I got a call 2 days later and was offered a summer internship on the FX Trading desk for 10 weeks. It felt like I was a millionaire! Later, I found out that the thing that had helped me to get the role was the fact I jumped off the page with experiences and demonstrated passion for being a trader. Any experience and training is important and will help you in your road to becoming a trader, and nowadays when corporations are looking for vocational studies as well as academic, the experiences I had put myself through from the course to the live trading had paid off.
I spent the summer at Goldman Sachs understanding how banking works and what traders do. I was set numerous projects and spent my time learning from some of the best traders in the world. The internship was a 2 way interview. I found myself getting to my desk for7amand leaving at7pm.
I gave it my all and would not change the experience for anything. At the end of the internship, I was offered a full time graduate position on successful completion of my degree, where I would join the FX trading desk in London, with 6 weeks training in New York. I was over the moon, and it certainly took the pressure off a bit in my final year, allowing me to concentrate on my studies, to make sure I got at least the 2: Looking back, the main thing I realised is that without the training and work experience I received in the summer of , none of this would have been possible.
It may have, but doing the things I did greatly enhanced my chances. I was pro-active about it and it worked for me. It is even more important nowadays with the economic climate then it was then, to ensure you have something that can make you stand out and talk about at interviews with prospective employers. If you wish to learn more about the courses on offer or to open a demo account to practice your trading skills please click on the links below.
Trading Courses — http: Trading Account — http: Hi, Your story is amazing! I was wondering if I could be in touch with you to ask you some advice about being a FX Trader at such a big bank?
Thank you and hope to hear from you soon! I found this article a huge eye opener, I can see you are clearly a vocational learner like myself. I would love the opportunity to speak to you on a basis or even Face to Face. My email is attached, please get in touch. Hi, I found this article a huge eye opener, I can see you are clearly a vocational learner like myself. Most Popular Most recent Most viewed.