Westpac Traders (2 Viewers)

[SoCal]

SoCal what are you doing in 2007?

Nothing exciting, believe me.

 

[velox]

cmon, honours should be interesting!

Capitalist: Yes traders have quite decent hours, however when you start you may get lumped on US/EU shift which sucks.

 

[§eraphim]

classic lol -

on a side note - best currency strategist is at NAB, but he started in IB

What's his name?

And what exactly does a strategist do?

 

[Conspirocy]

I cant remember his name - there is only one at NAB anyway so shouldnt be too hard to find - i read it in this financial article he was like the most consistent in picking the range for a currency over the year or something like that.

My understanding of what they do is this: they basically are like the head or close to it for the traders, they are setting the positions that the traders take, or basically breif them when they start on events and treds.

You see them quoted heaps in the papers talking about what they think the range of the dollar is going to be in. I'm sure there is more to it than just that, but I know thats one of the things they do.

 

[velox]

I cant remember his name - there is only one at NAB anyway so shouldnt be too hard to find - i read it in this financial article he was like the most consistent in picking the range for a currency over the year or something like that.

My understanding of what they do is this: they basically are like the head or close to it for the traders, they are setting the positions that the traders take, or basically breif them when they start on events and treds.

You see them quoted heaps in the papers talking about what they think the range of the dollar is going to be in. I'm sure there is more to it than just that, but I know thats one of the things they do.

The recent announcement was by the CBA chief strategist that the dollar will go over 79c US in the new year.

I think strategists are the same as economists. I always thought the positions that traders used were set up by structures.

 

[mr_shittles]

classic lol -

on a side note - best currency strategist is at NAB, but he started in IB

What was so classic about that?

 

[Conspirocy]

Trading is not just about trading the handful of stocks that you monitor. Commodities, futures contracts, foreign exchange etc. are also examples of financial instruments/assets that get traded by "traders."

Westpac is actually one of the largest traders of foreign exchange in Australia, carrying out much more forex trading in Australia than most investment banks.

But yeah, forget about Westpac, they probably don't monitor as many stocks as you do!

classic was referring to this when u put omnidragon in his place

 

[Conspirocy]

http://www.smh.com.au/news/business...stralian-dollar/2006/12/27/1166895360443.html

that isn't their currency strategist, but yeah he is an economist.

 

[mr_shittles]

Comparing a corporation to me, an ordinary fella? Get serious man! How about comparing Westpac to Goldman.

Yeah, how silly of me to compare "an ordinary fella" to "a corporation."

Of the stocks I monitor, the volume an investment bank trades far exceeds commercial banks. Forget about Westpac.

That would indicate you are comparing the stocks monitored by "an ordinary fella" with what "a corporation" follows. Your words, not mine.

. Anyway, have a good life trading at Westpac, like most people in denial of their fortunes.

Well, that's a good one. Unfortunately, I'm not a trader. And I don't work at Westpac. But fortunately for me, I haven't reached that stage in my life where I need to be in denial of my fortunes. But thanks for your best wishes, I'm sure you only meant well.

How about comparing Westpac to Goldman.

How about it? Since I was using foreign exchange trading as my example, maybe you could inform me as to what the market share breakdown is like in Australia.

No one cares about equities trading

Well I'm sure there are some people that do care about equities trading.

Of the stocks I monitor, the volume an investment bank trades far exceeds commercial banks. Forget about Westpac.

Wait, did you mention stocks? From what I gather stocks usally refers to "equity" . . . hang on, "No one cares about equities trading." Again, your words, not mine.

 

[Omnidragon]

I'm not responding to most your post because you're just taking my words out of context to win an internet argument.

Only your last point has a bit of substance, so I'll respond. Yes, I believe equities traders aren't the big guns. I speak from my observations.

So why do I monitor or even have anything to do with equities? Because I'm only a lowly intern and all intern tasks are crap. And because I'm fkning interning in investment banking, not trading, and I need to monitor the bloody companies that have anything to do with our clients. Back to the point of trading. If I were going to head into trading at one of the IBs, I personally wouldn't want to trade in equities.

Out of curiosity, have you even had any exposure to trading floors or anything to do with it? And yea, when I get back to work on Tuesday I'll open bloody IRESS to tell you the market breakdown of foreign exchange trades for the day for AUD/USD.

 

[Conspirocy]

I'm not responding to most your post because you're just taking my words out of context to win an internet argument.

Only your last point has a bit of substance, so I'll respond. Yes, I believe equities traders aren't the big guns. I speak from my observations.

So why do I monitor or even have anything to do with equities? Because I'm only a lowly intern and all intern tasks are crap. And because I'm fkning interning in investment banking, not trading, and I need to monitor the bloody companies that have anything to do with our clients. Back to the point of trading. If I were going to head into trading at one of the IBs, I personally wouldn't want to trade in equities.

Out of curiosity, have you even had any exposure to trading floors or anything to do with it? And yea, when I get back to work on Tuesday I'll open bloody IRESS to tell you the market breakdown of foreign exchange trades for the day for AUD/USD.

bloody melb kids lol

 

[velox]

Dont worry, omnidragon wouldnt be able to get into FI with his finance degree Who knows he may end up in equities!

 

[timbk2]

I went to Westpac in the city, 32 level building with funky furniture and nice carpet. My interest was drawn to the traders room and sparked my imagination and I thought it would be a valuable goal as a future job, as it seemed to be an area which tied in with my interests. I asked the lady and she said they take grads from many different degrees, including economics and commerce, or any other "businessy" degree. I thought this was a rather lame explanation, so yeah.

My question is how do traders become traders for top tier banks?

Im on level 31 in the Westpac Building.. =) awesome views. anyway. im a current IT grad, so i dont know too much about the trading area. But im pretty sure finance or WIB(Westpac institutional bank) grads get the opportunity to move into the trading area if they are interested in it. All programs are rotation based so you get to learn a bit of everything i guess. I even know an IT grad who is now in the trading floor. The company is quite flexible, and if you show the initiative and talent you can pretty much get wherever you want.

 

[Omnidragon]

conspirocy: kid? hah... that's pathetic. too bad i won't be able to b*tch with you after tomorrow since i need to work b/t 9am and 12am. have fun partying on your holidays, kid

velox: i'll have to get into FI with my law degree then

 

[velox]

conspirocy: kid? hah... that's pathetic. too bad i won't be able to b*tch with you after tomorrow since i need to work b/t 9am and 12am. have fun partying on your holidays, kid

velox: i'll have to get into FI with my law degree then

I guess you could do operations. I always though finance was not strong enough for FI. You need some more quant ability.

 

[Conspirocy]

conspirocy: kid? hah... that's pathetic. too bad i won't be able to b*tch with you after tomorrow since i need to work b/t 9am and 12am. have fun partying on your holidays, kid

velox: i'll have to get into FI with my law degree then

who's bitching...not me, i woulda said melb people...but for obvious reasons i couldnt.

9am-12am = hold on im slow with my mental arithmatic...guess i cant be a trader...15 hours damn, u'd wanna be getting paid for that.

I will have fun partying on my holidays, was planning on watching the cricket...damn rain.