email your resume at firstname.lastname@example.org
for trading position
There is this website PrepNut (www prepnut com). They have interview experiences of previous years' candidates of a large number of companies. And a lot of preparation material. Do check it out.
do they have cgpa as one of the criteria for selection??
Mathematical knowledge - The only maths you will ever use their is addition and subtraction, not even multiplication and division.
Speed and logical reasoning - Not remotely used
I have got a chance to appear in FF test for derivative trainee. I am a little worried about what they ask in interview..?? I am a B.Tech in Electrical Engineering..Currently pursuing final year... Someone please share your thoughts and experience about this to help me. Do they ask economic terms...or terms related to finance..like The BLACK SWAN Theory...n all that.
Or they just test your mathematical knowledge, logical reasoning, speed to take decisions....???
Haha..I couldnt help but laugh when u tried to put "futures first" into ur perspective of hedge fund. When you know what kind of trading happens in futures first u will probably want to change ur definition of "trading".
Let me put infront of you a simple mathematical situation which I m sure you wud be able to solve. I take 100 random people (most of them from good engineering institutes/IITs). I don't give them any training but i make them sit infront of 2-3 computer terminals with software running to trade in different markets. They start small (it terms of finance they start with small lots or contracts) and slowly start scaling up and learning to trade. As a consequence of natural probability they all cant make profit and they all cant make losses. So a large number make losses (i will come to the part as to how these losses doesnt affect futures first later), a few make reasonable profit and a very few make decent profits. This will turn out same way even if they randomly pick people out of a heap of CV or pretend to take interviews and all that crap.
When u hear talk of a good trader among them, its not mainly coz of any knowledge. Ask any of their oil trader about oil fundamentals they will have zilch knowledge, same for other asset classes. Ask them anything about risk management they will be clueless.
Now the losses part. For every transaction exchange charges a fee to trader. They add a decent (2-3 times actual) markup and charges it to the trader which get deducted from a trader's account. Additionally, (they will not tell you this before) you will be charged for whatever software packages your are using which would be around 1000 pounds per month. So, there is no employee-employer relationship. Its agent-agency relationship. You are given a seat in their office and you pay for it except rent and electricity.
And less said the better about industry recognition. One of people i know went for a interview with a global bank and he was told in face "I dont want to see anyone from futures first".
They are not even a trading firm. To circumvent some laws they are registered as a software firm, hence the name Futures first info services pvt. ltd.
Here's the deal - I aim to work for/run a global macro/micro hedge fund in the long term. From what I gather, there are 2 sides to the coin - Research & Trading. I want to get a taste of both.
I have an MSc Economics & BE Electronics from BITS Pilani. I'm currently interning at an Economics Research Think Tank.
Without an MBA, and with my current qualifications, I doubt I'll be able to crack any of the big branded jobs. I did try cold calling the Bulge Brackets, but I was given a polite 'work your way up' lecture (which meant, get an MBA, then we'll talk).
I was thinking seriously about Prop Trading at Futures First to cut my teeth. I believe I have a big stomach (both literally and for risk 😛 ). I am aware that the work environment is ruthless, and that I'll perish if I don't perform, and I'm completely fine with that. I'm looking to do something that would lead towards an Investment management career, preferably hedge funds. What do you folks think, especially the more experienced ones such as punit.s & EXFF?
Thanks for your time!