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Forex

Question by: D
Despite having mostly worked in operations and leadership development, I decided I want to transition onto wall street. I don’t have too much finance experience, so I am doing a ton of research right now to learn the jargon. Do you have any tips?
Best Answer:

Answer by JoeyV
a) Don’t use jargon. You are interviewing for a junior position and you don’t want to look cocky. If you use the jargon incorrectly, you are in trouble.

b) Know the basics of FX trading including interest rate parity (really important) and purchasing power parity.

c) Know the basic mechanics of FX markets including futures, swaps, options, and Interbank markets.

d) Make sure that you know the names of all of the top currencies in the world (make a list). Have some idea of the exchanges rates of the major ones (i.e., know EUR/USD, no need to know NOK/USD).

e) Play up how your experience in operations has taught you the importance of operational risk and what an important job people in the back office do (interviewers love to hear that you will respect the guys in the trenches doing the crap work).

f) Be confident in your abilities to do a hard job. Recognizing that the job is hard is important because your interviewer has fired plenty of people who couldn’t do it.

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