Cut from market making/trading - now what?

Hi guys,

Just thought i'd get some thoughts on an issue i'm facing at the moment.

I've worked as an options market maker twice. Once for a year in 2006 before getting sacked because I missed a long 200 lot delta 1 early exercise - i know, real stupid, but just an admin error. The second time was in 2009 up until a few weeks ago, where i got cut along with a bunch of people because I couldn't make enough money.

I was trading a few single stocks where it was basically impossible to make money. Nevertheless I'm finding myself looking for work. The big kick in the teeth was a stock I traded got a takeover offer over the last few days. Stock up 30%. When I left, I was long all the upside and would have made around 500k from that day. Anyway...

In between these jobs, I worked as a broker/in execution.

So, I've had my fingers burnt twice in trading and wondering what to do now...

I guess the obvious move would be to try to get in to sales trading/broking, but I really don't want to do that. I just don't think I could find it stimulating talking sht to people all day. The other, ironically, could be risk management. Again, not a lot of interest there.

I'm thinking of trying to move into something more stable/more analytical. Would it be possible to move into a research role or something of the like from here. Dealing and trading is all I know, but i know i could pick research up pretty quickly.

My degrees are BCom in Economics and Finance, and a Masters in Quantitative Finance.

Well , let me know your thoughts. I'm 27, so i guess now i really want to try and establish myself somewhere..

 

The only advice I can give, and it isn't so hot, is to reach out to some people who graduated from your Quantitative Finance program. I'm sure there are a few of them who are in research. Don't ask them for a job . . . at first anyways. Make some connections, tell them you want to transition into research, and ask what you can do etc.

At the very least they can tell you how to get there better than I could.

 
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