u/Sad_Pomegranate3089

Looking for a good paid internship
▲ 3 r/PaidInternships+1 crossposts

Looking for a good paid internship

I want a well-paid internship. Based on my resume, do you think I can get it in the fintech domain?

u/Sad_Pomegranate3089 — 2 days ago

Hello everyone, I recently participated in IMC Prosperity 4, a global algorithmic trading competition with my teammates.

In this competition, there are a total of 5 rounds, in which we have to trade on some virtual stocks in two modes, which are,

  1. Algorithm-based Trading

  2. Manual Trading

Our seniors told us this type of competition happens in the fintech field, and you can participate in it if you want to explore the field from the core side.

In this competition, students and professionals have participated from all over the world, with ~22k participants and from India, there are ~5k participants, with different mindsets and skill sets, from beginner to professional.

>Through that in 1st round we got,

- Global Ranking - 2967/22000,

- Country Wise Rank - 639/5000

In this round, we made an algorithm strategy by using market making strategy and mean reversion, and in manual trading, we set buy and sell conditions to get profit in the market, in 1st round, we got a profit of 137,363 XIREC.

>We entered the 2nd round, in which we got

- Global Ranking - 2309/22000,

- Country Wise Rank - ~500/5000

In this round, we made an optimisation on the algorithmic strategy that we made in the 1st round, because in the 2nd round, we have to trade on the same stocks with different market variations, we set buy and sell conditions to get profit in the market as we did in the 1st round. In the 2nd round, we got a total profit of 353,147 XIREC.

By clearing the 1st and 2nd rounds, our team entered the finals, which are rounds 3rd, 4th, and 5th.

We have hope that we are performing best from our side and as per the competition as well, and this is our 1st time entering a global competition with courage and fear.

>With that, the 3rd round started, in which we got ranks,

- Global Ranking - 1433/7000,

- Country Wise Rank - 263/2000

From these results, we get the best results as we wish to get at the start of the competition, and we are in Top 5% of all participants of the competition.

This is a big moment for us. We are coming from a Tier 3 college, and in our first attempt, we were admitted to the Top 5% globally and the Top 1% in India. It's a significant achievement for us.

>But the 4th round came, and unfortunately, our algorithmic strategy got overfit, and we crashed from

- Global Rank - 1433 to 3209

- Country Wise Rank - 263 to 789

We lost hope and, with that, our rank as well, and entered the 5th round with the lowest rank, and for this reason, we gave up.

Because at the end, we are at a loss, which is impossible to recover and get the best rank.

Before entering this competition, we didn't have that much knowledge about trading and how the market works, but we got the best results, and we learned a lot more things through it.

It's our 1st time participating in IMC Prosperity, but we are not stopping here; we will participate again in this competition next year with full courage and knowledge.

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u/Sad_Pomegranate3089 — 23 days ago