Transitioning from Trading into something chiller
Hey guys-
3rd year prop trader here who made a decent amount of money during COVID and I'm looking to basically get out.
I'd ideally like a job that's laid back (I'd rather not get a job where it's a grindfest, I'm not FO material. Nor do I really want to pursue an MBA at this point) where I can trade a little on the side (intraday equities) because it's the main driver of my income.
I make a decent amount trading and I'm very confident I can translate (some, but not all) of my trading strategy to my PA.
Is Goldman back office viable for this? I'm interviewing for some roles at the moment, and I'm fine with taking a pay cut as long as I can trade on my own.
What would you guys do in my situation?
Sorry if I come across as extremely lazy, I just don't want to rely on trading entirely on income. Absolutely love trading but working 10-12 hour days researching/staying on top of the market seems like a somewhat bleak future for me.
One note, is banks tend to restrict your ability to trade completely. Maybe try to into data science?
Yeah that is the main factor that makes me hesitant to take a role if I got one. How long would it take to train/learn/interview for a data science role?
Get a public policy masters and then get a chill + interesting job in government.
You are a profitable trader who is looking to instead go take a back office job to deal with bullshit for 50-70 hours a week and then try to trade from your phone on the john? HUH?
It sounds pretty ridiculous, but I genuinely cannot handle the stress anymore. I have high blood pressure and my doctor says that I'll probably die by early 40s if I continue like this. I've made a decent amount of money, I can trade with FAR less stress solo, and I can preserve my sanity.
But yes, I agree, if I didn't have health/stress issues, I would stay at this job. I suppose it's like IB burnout, but I can continue my passion at a lower level/stakes,
You're going to need to leave banking. There are so many regs now that even the "smallest" of positions are being labeled as covered persons and restrict your trading. Yes, there are ways to clear trades but not for the intraday stuff you mention since you're required to hold positions for X days.
You're going to just have to find another industry and then do your trading however you want.
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