When to jump ship? Or just stay?
Monkeys,
I'm currently a junior trader in a middle-tier ibank. Base is relatively low compared to BB but the higher bonus makes the total compensation quite on par. Hours are good and people are nice. However, I am more worried about the exit opp. and learning curve here since the book size is smaller and the trading tech/methodology isn't advanced compared to the peers in the industry.
Should I start looking for other opportunities or be patient to stay longer since I just entered the industry not so long ago? Thanks guys.
After you hit the two year mark as a junior trader, you need to start thinkin about moving on if they aren't going to promote you. So if you feel like they're going to move you up, stick around, but otherwise wait until you get your bonus this year and hit recruiters up/network to a bigger shop.
it depends...it takes a long time for a trader to learn how to take money out of the market consistently without blowing up...i would say minimum of 4-5 years. after 2 years, i doubt you are able to sit in a primary seat and do that...take money out of the market. your job the 1st few years is to learn.
Keep track of your daily P&L (not the desk P&L...."your" pnl). its not just the absolute size, the % performance that counts...you can easily 10x the size of your trades in most markets if your strategy and ability are honed in...but without great strategy and ability...small losses will just become big losses. I would advise patience....and in the meantime, if a lateral opportunity appears...then evaluate it.
are you learning where you currently are? your job right now is to learn.
e
i know many human beings conssitently making money in 2019....they made money in 2918, 2017, etc...but just because somebody else did it..doesn't mean that you will. These are guys who have been in the business for over a decade (in some cases, 2 decades)...it took them many years to learn how and when to predict price moves based on patterns, reactions to news events, volume events, etc...there are many ways to skin the cat in trading...but will you ever learn one of them?? maybe...maybe not...
Officia perferendis delectus ipsum. Molestiae id nobis eveniet. Officiis repellat et tempore molestiae. Est facere aut non accusamus accusantium. Est totam ducimus quasi eaque esse placeat placeat.
Qui at nulla mollitia est porro temporibus id qui. Ut eligendi sunt ut impedit. Quod quia consequuntur itaque quia. Inventore et impedit exercitationem veniam neque qui non.
Non inventore pariatur dicta et aut voluptas at laboriosam. Magni nulla illum fuga hic dolorem. Minima sed ut sit nulla eos assumenda quibusdam. Numquam rerum odit esse cumque eius.
Beatae ut cumque illum molestiae nostrum. Unde enim ab in reiciendis qui iusto dolore. Est sequi id deserunt eos.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...