MMspire Trading’s Summer Internship 2017 has four distinct components:
Fundamental and Technical Trading of Spot Foreign Exchange Market
The Intern will develop a trading plan and step into trading FX on the spot market using a $1,000 account and trading with lot size of 1,000: EUR, GBP, CAD. The intern begins their trading journey as a strict momentum trading, trading with the trend and chasing volatility. As the internship progresses, the intern will add a contrarian component to their trading plan and will be able to trade against the short term market trend.
Trading plan and ongoing development of trading plan
Trading to the plan
Building and maintaining a daily trading binder
Building and maintaining profit/loss records and CFA geometrically linked return spreadsheets
Maintaining a daily economic calendar for US/EU/British news and actively discussing market
Posting all trader records nightly on website
Learning to Build Financial/Risk Models and Apply Models to Market Trading
The team will have an experiential modeling component to their internship. Each week we will learn a new financial analysis methodology, apply this methodology to the market and build these models in excel. The team will also learn professional power point presentation of analysis. Models include: historical volatility, implied volatility using GOAL SEEK, building a value at risk models (both historical and two factor parametric models), and time allowing, a basic trend following model.
Interns learn to harness the web for transparency of the internship program, providing continual information to the advisory board and financial community. The interns will adapt and maintain the MMspire website. Trading profits/losses will be posted daily, networking will be updated consistently. Intern photos, resumes and trading plans are posted.
Professional Development and Networking
Professional development and networking is integral for new participants: they meet peers in the same sector, expand their horizons in the finance field to new positions, they educate themselves participating in CFA experiential forums and distinguished speaker series, and making new and lasting relationships meeting McNew’s existing network of over 300 professionals that she has educated, the University Club events, Chicago events and MMspire’s Advisory Board.
Interns will take advantage of CFA Chicago opportunities, including seminars, lunch and learn and networking. We have Networking Thursdays which include the following companies: EY, Uniper Global Commodities, Proprietary Options Shop, Gelber Group, BP, Dresner Partners, JP Morgan, Cortland Capital Market Services LLC, Geneva Trading, Invesco, and Marquette Associates. We also participate in Chicago related events, both charity and industry, such as: Summer Party at the University, Jazzin at the Shedd, CME Agriculture Networking, FOW Trading Chicago, Cubs game.
Interns will also learn to produce professional presentations, build the correct resume, cover letters, obtain letters of reference, clean up their Linked In and Facebook pages and build an interview folder.
At the completion of the internship, the interns will present to the advisory board.