Is 30s too late to start a career as a trader? What is the exit strategy as a trader? Can trader do something else afterwards (like a portfolio manager) or just retire with the money?
You need to be more specific. Try to think things through a little more before you post. Thanks.
Exit Strategy for a good trader is usually a flight to St. Tropez
Or to BK court
Do you have any talent as a trader? I know some pretty old traders (why they don’t retire to St Tropez is beyond me).
LOL… you can go back to business school, you can move to either the debt/capital markets and become a capital markets professional, move to the buy-side, or move to a HF.Many things you can do
MBAFinance Wrote: ------------------------------------------------------- > Is 30s too late to start a career as a trader? > What is the exit strategy as a trader? Can trader > do something else afterwards (like a portfolio > manager) or just retire with the money? Okay serious response. My guess is that you would have to start your career at a prop shop unless you have some flat out amazing contacts at a hedge fund or BB. So my next question is, do you have a family? Are you willing to quit the job you have now and give up that security to be a trader? If you’re not good and they fire you in 3 months, then what are you going to do? Trading is not easy, and its even harder when you’re older and have responsibilities to think about. Not saying not to do it, but you really need to think it over. I’ll warn you right now, if you’re only doing it because you think its fun and you can make a quick buck, don’t. If its something you feel passionately about it and something you love doing in your free time, and don’t mind putting in the hours pre and post market, then have at it.
TeamHydro, I interned at an I-bank. It seems some VP level traders just trade for some big insitutional clients, and one big part of the job is actuall networking with clients a couple of nights a week. It seems this job is secure as you don’t have to be responsible for the profit/loss.
MBAFinance Wrote: ------------------------------------------------------- > TeamHydro, > > I interned at an I-bank. It seems some VP level > traders just trade for some big insitutional > clients, and one big part of the job is actuall > networking with clients a couple of nights a week. > It seems this job is secure as you don’t have to > be responsible for the profit/loss. i’d love to find a job in that business where someone else is held accountable for my losses
“i’d love to find a job in that business where someone else is held accountable for my losses” Its not exactly the same, but think about all of the professional sports players who fail to live up to expectations and play terrible during the season. A lot of the time its the coach who takes the axe for underperformance…
Drs, What I mean is that: when you trade for the clients, client accept what is the best price you can give them. It is more like sale then trading job. Prop trader has to be reponsible for P/L but not all the traders.
MBAFinance Wrote: ------------------------------------------------------- > Drs, > > What I mean is that: when you trade for the > clients, client accept what is the best price you > can give them. It is more like sale then trading > job. Prop trader has to be reponsible for P/L but > not all the traders. Okay so you’re talking about flow trading. Do you want to do flow or prop? Big difference.
Thanks, TeamHydro, Flow trading, this is exactly what I mean. My question is: for VP level flow trading job, what the compensation and life style is like? Thanks,
Before I answer that, what is your motivation for wanting to do flow trading?
Well, I think that is the best way to understand the market dynamics without taking too much risk.
You mentioned you didn’t want to be responsibile for PnL losses. No trader is ever held personally liable for losses unless they commit fraud. So I’m not sure about your risk comment. Flow trading generally is less risky/more safe than prop trading. But of course the reward isn’t as great as either.
MBAFinance Wrote: ------------------------------------------------------- > Drs, > > What I mean is that: when you trade for the > clients, client accept what is the best price you > can give them. It is more like sale then trading > job. Prop trader has to be reponsible for P/L but > not all the traders. Most product flow traders still have substantial exposures. EVERY trader is responsible for a P/L. The difference is that a flow trader should be relying on customer facilitation to make money, but they still can place their own bets.