Power Analyst or Real-time trader?
Have 2 offers on the board and unsure what I should pick. First job out of school. I want to be a trader but trade FTR and Day ahead not dispatch and all that real time stuff. Analyst role looks like a lot of work with no trading opportunity- correct me if wrong.
If you want to trade FTRs, go get an electrical engineering degree or a PhD in math, physics, etc and the power analyst job would be a lot better.
You say you don't want to be a real time trader but are considering a real time trader role? That makes no sense to me. Depending on the exact role you would probably be able to do some DA transactions but if this role is the standard shift work RT role, it's a lot of scheduling and stuff like that which it sounds like you don't want to do (though it's a great way to learn the business).
You’d also have to consider that not many places will let you trade day ahead without having real time experience first.
If that's a thing it's the first time I am hearing about it.
As other poster explained the post is real confusing. Better to let us know more about your background, why the interest in FTRs, why the interest in RT. Also what possible ISOs and exposure/experience you had.
Experience is internship at a ISO for 2 summers
Do you have the math chaps to do auctions and FTRs? If so power analyst role makes much more sense.
Chat is this real experience?
I do not like the shift based work. But I want to trade virtual day ahead and longer term auctions that is the goal
What did you do at the ISO?
What is your educational background?
Have you done power flow analysis?
Can you code? If so, what languages?
Will graduate this year with undergraduate degree in Electrical Engineering. ISO make single line power diagrams. Am able to code. Job will be power flow analysis - did not ever do that
I want to understand what you can explain about the math side
You have most of the requirements for an analyst to FTR trader path. I'd still recommend/consider getting a masters or PhD in EE. It's not necessary now but if you want to trade spec and really make some money, your competition for spots will have those and it may make it harder to compete, especially for something senior. The job market for FTR traders is super hot right now so if you learn quickly you could get a junior trading role in a couple years easily. I haven't actively traded FTRs on the spec side for almost 10 years but I still get calls about FTR trading roles.
The math is being able solve the power flow to figure out where congestion will occur and what price to pay. You will have to understand the genstack, load patterns, line ratings, etc if you want to do long term auctions. Having general knowledge isnt enough, you really really need to know the details. Another piece where the math is really important is collateral management. The very best FTR traders can successfully manage both the gross margin side and the collateral side. For this you need to understand the ISOs rules on collateral and how each of your paths interact with each other in determining that.
Might be a good idea to learn some VBA as well. Python and R are great but a lot of shops still base stuff in VBA so having a work knowledge of that is helpful.
If you have other questions you can PM me
if you want to trade FTRs go for the power analyst role. Look for chances to run sced/power flow models and have daily interactions with traders. Some places, not all, RT can be off in their own world.
Learn congestion patterns, I've seen both RT traders and analyst move in to FTR roles. Just have the expectation that it will take ~ 3- 5 years to get to risk taking.
MSEE degrees help immensely but are not required...know some CRR traders with liberal arts degrees. just my 2 cents...
I want to trade daily day ahead auctions too
What do you mean by that? Trading virtuals for DA/RT spreads or on ICE trading DA prices? I've personally never known an FTR trader to also trade DA products on ICE but using virtuals to optimize FTR positions is common. The math here is really important as well because you don't want to cause forfeitures so you really need to watch volumes and prices.
fuck real time - those days are gone and its a hard hole to climb out of. Power Analyst for sure
What do you mean those days are gone/ hard hole to climb out of?
I personally didn't go through the RT route to become a term trader but 90% of our guys did hence they brought me in for a different perspective. That said, I strongly believe being on the RT desk is a great way to learn the business and depending which type of shop you're in, sure it can be a hard to pivot out of there. But I have seen people get out of RT to become an energy manager and then from there, to become a term trader in a few years
Could you expand on that? I'm currently interviewing for a RT position and that was one of my thoughts behind not taking the role. Your the only person I've seen say this, most posts/comments I've read have mentioned RT as a great way to getting your foot in and moving up, unless things have changed recently
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