from commodities trader to CFA ...

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Hello everyone
I have been lurking around for quite a while now, but couldn’t find the answer to my dilemma. I am thinking about taking the CFA exams, but I am not quite sure if this is the right career path for me. I have a bachelors in Marketing and a CTA (Commodities Trading Advisor) certification. I have been trading commodities for a living for a few years now. Although the money is good, I am tired of the “feast or famine” life style. I am looking for a more stable job right now, but there aren’t too many around that require my skills.
Do you think I should pursue CFA or keep trying till I find something in my field of expertise, commodities? Is there anybody out there in the same situation? Thanks so much for your time :)
 
do you trade your own money? work for a cta? fund ? etc
thats awesome. thats what i want to do, i am currently on a futures sales desk at a bank.
anyways go for your cfa. i am a L3 candidate and i have learned so much thus far.
 
nikko0355 Wrote:
——————————————————-
> do you trade your own money? work for a cta? fund
> ? etc
> thats awesome.
I work for a CTA. Don’t get me wrong, I love what I do except for the insecurity of the paycheck. I am just wondering how useful it is a CFA to somebody with my background … Maybe I should get CAIA instead?
 
Get CFA first. Worth much more. CAIA can come second if necessary. I have them both, CFA was much more difficult. You learn a lot in CAIA, but will not drastically improve your marketability.
 
I’ve never heard of a CTA certification. Your company can be registered as a Commodity Trading Advisor with NFA and CFTC.
 
Rydex Wrote:
——————————————————-
> Maybe he passed the NASD series 3 exam.
Maybe. Though it would be more of an AP with a CTA certification then.
 
Yes, I passed Series 3 exam and I am an AP with the firm. Please, let’s don’t get off the topic. Any other suggestions to my dilemma? Thanks :)
 
I’m in a very similar situation…..
I’m a securities trader who trades his own capital, and I also suffer from the same “feast of famine” situation. When the big check comes in, it’s lobster dinners, and the bad months result in ramen. Of course I exaggerate, but it’s no fun to live way below your means b/c your scared of the next trade, next lean month, or possible blowup (unlikely but possible).
I did the same calculus your doing two years ago, and already invested my 700+ hours completing levels 1 and 2 of the CFA program. Two years later, I’m still trading, partly due to choice, and partly due to the fact that I didn’t get the jobs I was vying for.
I’ve found that while completing the CFA exams (whatever level your at), will help with establishing credibility with people in security analysis, and will generally result in comments like, “Wow, you must be smart, I heard they are tough”, or “I failed that test, it was impossible”, and unfortunately I’ve gotten a few “What is that, are you an accountant?”. However they perceive it, the fact is that it will not open doors for you, you must do it yourself.
Ultimately it comes down to your networking abilities, and skill of selling yourself. If you got your foot in the door and are able to get that interview, I think it will certainly help as they narrow down candidates. The interviews I went on were in spite of my passing the two exams, not b/c of them.
I wouldn’t dissuade you from going for it, as it’s probably the most demanding yet edifying educational experience I’ve undertaken. I joke that if/when I get my charter, I’ll take a picture and carry it around in my wallet b/c I’ve spent more time studying over the last two years than I have w/ my wife. Also, the amount of preparation required and level of “stick-tuitive-ness” required to pass go far beyond anything I had to deal w/ during my undergrad. Another gratifying part of the experience is that you have to earn it. I call it the “great equalizer”. Daddy’s donation or alumni status won’t help you pass…there is only one way to get the designations, you must earn it on your own.
To boil it all down, those three letters after your name are not a panacea to your employment dilemma. Perhaps in a tighter job market it would be enough, but experience and networking trumps any education or designation.
 
sunshine
does anyone at your cta have their cfa?
i think you should go for it.
it is nothing like your series 3 not even close
 
PeteyPete Wrote:
——————————————————-
> I’m in a very similar situation…..
>
> I’m a securities trader who trades his own
> capital, and I also suffer from the same “feast of
> famine” situation. When the big check comes in,
> it’s lobster dinners, and the bad months result in
> ramen. Of course I exaggerate, but it’s no fun to
> live way below your means b/c your scared of the
> next trade, next lean month, or possible blowup
> (unlikely but possible).
>
> I did the same calculus your doing two years ago,
> and already invested my 700+ hours completing
> levels 1 and 2 of the CFA program. Two years
> later, I’m still trading, partly due to choice,
> and partly due to the fact that I didn’t get the
> jobs I was vying for.
>
> I’ve found that while completing the CFA exams
> (whatever level your at), will help with
> establishing credibility with people in security
> analysis, and will generally result in comments
> like, “Wow, you must be smart, I heard they are
> tough”, or “I failed that test, it was
> impossible”, and unfortunately I’ve gotten a few
> “What is that, are you an accountant?”. However
> they perceive it, the fact is that it will not
> open doors for you, you must do it yourself.
>
> Ultimately it comes down to your networking
> abilities, and skill of selling yourself. If you
> got your foot in the door and are able to get that
> interview, I think it will certainly help as they
> narrow down candidates. The interviews I went on
> were in spite of my passing the two exams, not b/c
> of them.
>
> I wouldn’t dissuade you from going for it, as it’s
> probably the most demanding yet edifying
> educational experience I’ve undertaken. I joke
> that if/when I get my charter, I’ll take a picture
> and carry it around in my wallet b/c I’ve spent
> more time studying over the last two years than I
> have w/ my wife. Also, the amount of preparation
> required and level of “stick-tuitive-ness”
> required to pass go far beyond anything I had to
> deal w/ during my undergrad. Another gratifying
> part of the experience is that you have to earn
> it. I call it the “great equalizer”. Daddy’s
> donation or alumni status won’t help you
> pass…there is only one way to get the
> designations, you must earn it on your own.
>
> To boil it all down, those three letters after
> your name are not a panacea to your employment
> dilemma. Perhaps in a tighter job market it would
> be enough, but experience and networking trumps
> any education or designation.
well said:)
 
Thank you for your very insightful response, PeteyPete. You are right on the money. I came to the same conclusion, that CFA is going to be useful, especially at a personal level, and it is going to give me more credibility in the financial world. It could open some doors; however, it may or may not help me land the dream job.
I have been browsing a lot lately on jobs that have CFA as one of their requirements, and most of them seem to be closer to accounting type of jobs. I am not sure that I would be very happy working in that environment.
I would like to stay in the “commodities world”, and preferably work as a trader or analyst for the actual producer of the commodity, instead of a speculator. Right now, I am focusing my attention on jobs related to energy trading (oil, gas, electricity). It seems to me that the skills required from an energy trader match my experience and interests better than any other type of jobs out there. So far, my search took me to Houston, Texas, but I do not have any interviews yet.
Given the circumstances, should I still enroll into CFA program? Is there any energy trader with a CFA out there?
 
Rydex Wrote:
——————————————————-
> Get CFA first. Worth much more. CAIA can come
> second if necessary. I have them both, CFA was
> much more difficult. You learn a lot in CAIA, but
> will not drastically improve your marketability.
I really need to improve my marketability. I have not been invited to any interviews so far, although I am even willing to relocate to a different state if necessary … Would I see more interest from employers after I pass L1?
 
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