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.

Valor is of no service, chance rules all, and the bravest often fall by the hands of cowards. - Tacitus Dr. Nick Riviera: Hey, don't worry. You don't have to make up stories here. Save that for court!
 

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.

Valor is of no service, chance rules all, and the bravest often fall by the hands of cowards. - Tacitus Dr. Nick Riviera: Hey, don't worry. You don't have to make up stories here. Save that for court!
 
monty09:
blastoise:
How is energy stored? What time of day is most energy used? What difficulties do you think energy traders will face in the future?
  1. depends on what you mean by energy
  2. super peak
  3. making money with sub $10 nat gas

  • 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.

    1. Narrowing spreads with low gas, possibility of the entire grid going "nodal" or financially settled, and a few others that would take a while to get into.
     
     
    Best Response
    oversold:
    monty09:
    blastoise:
    How is energy stored? What time of day is most energy used? What difficulties do you think energy traders will face in the future?
    1. depends on what you mean by energy
    2. super peak
    3. making money with sub $10 nat gas

  • 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.

    1. Narrowing spreads with low gas, possibility of the entire grid going "nodal" or financially settled, and a few others that would take a while to get into.

    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)

    If I had asked people what they wanted, they would have said faster horses - Henry Ford
     
    monty09:
    HPM:
    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.

    The answer to your question is 1) network 2) get involved 3) beef up your resume 4) repeat -happypantsmcgee WSO is not your personal search function.
     
    ivoteforthatguy:
    1. Best way to break in: Headhunters or contact firms directly? 2. What do hiring managers want to see in an applicant in his early 30s fresh out of academia? 3. What % of people wash out at the 1,2 and 5 year marks?
    1. headhunters only want to hear from you if you have exp. knowing someone is best help or apply via school
    2. bright, hungry and focused.. same as college grads
    3. i see a lot of people leave year 2-4
     
    the_red_baron:
    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?
    1. I went into energy because of a girl.
    2. they are an idiot
    3. bright, hungry focused
     
    monty09:
    Bruin13:
    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?

     
    PIE:
    At your firm what is the average salary like for 1st years, 3rd years+

    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!

     
    brooksbrotha:
    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?
    1. there is no standard practice. why? because every firm can run things however they like
    2. i do not know of one company that starts anyone off in trading. I could be wrong but I have not seen it. I have seen people right out of college start in real time but thats not what your talking about
    3. you dont see the junior trader -> trader in energy as you do other products
    4. sales has little to do that will help a young trader so would be pointless to start in sales then move to trading at least at an entry level... i know plenty of traders that became sales after a lot of exp in a region
    5. I have seen people start in just about everything and some end up trading and some dont. trading is not the only gig in a firm. you may be the best risk manager and never know until you try it. I know one nat gas trader at bp that is now in risk and much happier.
    6. in sum all this said the same thing i did in my first reply

    hope it helps

     
    brooksbrotha:
    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.

    If I had asked people what they wanted, they would have said faster horses - Henry Ford
     

    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.

    If I had asked people what they wanted, they would have said faster horses - Henry Ford
     

    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.

    "Rage, rage against the dying of the light." - DT
     
    beta26:
    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

     
    monty09:
    el georgino:
    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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