Feb 19, 2011
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From 10 rejections to 1 dream investment banking internship
“... I believe it was the single biggest reason why I ended up with an offer...”
What new developments do you think will impact the price of energy in the long term? I am thinking of electric car to grid and smart grids, but im unaware of others.
I am a trader not an economist
+1 that was awesome.
Neither am I, but would be nice to hear an opinion from someone who is involved in trading. Whatever little I know so far comes form engineers.
pm me
What "publicly-available" sources do you use to estimate electricity demand?
Do real-time traders really get half the month away from work?
none
Some people use the ISO load/demand forecasts...
How is energy stored? What time of day is most energy used? What difficulties do you think energy traders will face in the future?
If by "energy" you mean electricity, which I'm guessing since this is a question/thread about electricity, then you'd have pumped storage (the major way to store electricity and spec wholesale prices) or battery/flywheel technology (used more for grid control purposes and not really a wholesale "trading" tool as pumped storage is).
Superpeak? Are you a WEST trader? LOL Silly west....making up words like there's no tomorrow.
ANYWAY...in the summer its generally around 15-1600, when the sun has been baking the ground all day. In the winter, it flips to early morning when people all wake up to go to work, and late evening when all the street/home/christmas lights come on.
depending on who you ask...super peak is usually HE 7-11
Which donuts do you think have the greatest positive impact on your overall ability to trade effectively?
(I already know the answer but the other monkeys should too)
powder donuts washed down with some OJ or chocolate milk
OJ is wonderful.
.
What do you base your trade decisions on? News? T.A.? F.A.? What technical tools do you use? MA, MACD, Stochastics, etc?
So if I understand, you just go with your gut feeling? Is this the same for all pro. traders?
How do you decide to go into energy trading? Suppose a person is a future trader, but without a specific desk preference, nor much knowledge about what makes desks different. What would make them go into energy? Who are the right people for energy trading?
well on my desk which is power... we have a ton of info.. we have an hourly desk trading the spot market.. people around us trading various hubs both fin and phy.. as well as a few brokers showing us markets along with over 90 IM's going off with markets as well. you pick your spots and try to make money
Thank you monty09 :)
What did you mean by work 14 out of 31 days? You actually take half of every month off and go on vacation?
yes
But that's 12-16 hour days for 14 days straight, right?
At your firm what is the average salary like for 1st years, 3rd years+
no clue
seriously, why does everyone ask about salaries... If you're good, you'll make lots of dough! Like anything in life. If you're not good, you find another job. As simple as that. If you're REALLY interested in trading (as I am) you'll get a job at firm and work like crazy to learn and get good P&L. You're entering the job market.. the $$ is not near as imporant as the contacts you'll make during the 1st few years...
Many of us here are University students... We're not here to choose! We go with the flow, send a boatload of resumes and hope to get a job and move up the corporate ladder!
P&N?
typo. p&l
seems like a no brainer (?) but ill ask anyways since im struggling. goal: energy trader graduating in Dec '11: Decision: Investment banking summer analyst or not so glorious energy trading back office position?
banker
Do most undergrads coming out of college and into trading start as a jr trader, trader, or sales and work into trading? I understand everyones path is different but if there is a standard practice from above options, what is it?
every person will be different
hope it helps
Monty, I expected some more effort into the responses. Not the best Q&A
Get over yourself. Go back and read the napkin he gave you.
Just hoping he could elaborate a bit more.
Then say that. Don't tell a guy that has already helped you a lot that he isn't doing enough pro bono work for your tastes.
Hey monty,
This is all definitely much appreciated. I was just curious. Although I am not necessarily looking to break into energy trading, I have a lot of respect for the spirit of the energy rodeo event and how much you are willing to personally sacrifice. Therefore, I was wondering what our some ways current college students can help out for next year's event.
its not just trading.. we had people from all over finance on panels and in crowd... so def something for everyone. while an energy twist it is all info that can be used on any focus.
most help I could use is getting the word out. I am working on new site, new everything and plan to have all done by april 1.. after that.. its all about getting the word out
That's what I was looking for Monty. Much appreciated. I wasn't sure if there was a difference in the career path for a bond trader and commodity trader, such as a transition from sales to trading, which I've heard has been done in bonds.
That transition is made in equities too
7 days and 7 nights.. 12 hours eac day and spread out
monty, thanks for doing this. from what you have seen, which is the best route to become an energy trader with no trading experience whatsoever...mba or msf? thanks!
I have seen msf get hired into analyst roles(none are trading yet) and mba's hired into assoicate jobs(none are in trading however)
best route ive seen is have a strong quant background and network your balls off...get an analyst role, kick ass and take names, hope somebody higher up likes u and gives you a chance
another interesting way in would be to be a weather guy....i think this is a way undervalued trade...weather guys get it right they are loved forever, if they get it wrong they just say "its not always easy to predict the weather"
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