Junior Night Trader
Hi all,
I currently work at a BB in operations and was wondering if this would be a good position considering I want to get out of Ops. I have finished all the CFA exams and was wondering if this is actually a trader position (sounds more like a TA that will be monitoring stuff). Any thoughts would be appreciated.
Description
An established systematic Commodity Trading Advisor in Midtown Manhattan is looking for a night-shift electronic futures execution Junior Trader. The job responsibilities will include: operating various front/middle office and risk-management software for the late Asian (Australia, Japan) and early European (UK, Germany, Switzerland) trading sessions. All execution is fully automated but includes managing the software, trade allocation, etc.
The trading hours are tentatively from mid-night to 8AM. We are looking for a reliable, energetic, highly professional individual who will fully cover night execution and allocations for the firm. The position will include preparation and passing of the Series 3 NFA/CFTC exam. This is a full-time position which is remunerated with the base salary and a full benefits package.
Sounds better than working in ops but at the very least, I would hope this would open the door to getting on the day shift relatively quickly. Sorry I can't give you much color on this.
I'd take it, operations is a female dog with fleas.
I interviewed for a similar job with a prop trading firm in Chicago where the deal was you would spend about a year on the night shift and eventually transfer to the day shift and get risk capital allocated. If there is a clear, delineated path to being a trader I would definitely consider the position.
Anybody have any experience or feedback on being an Overnight Trader? (Originally Posted: 12/02/2014)
This is in regards to working London/HK hours in the states. Curious if anyone had any feedback in regards to this. I'm sure it is a bit odd working upside down hours however being able to trade in foreign markets and staying close to home I'm sure has its perks.
I recall there's been a somewhat recent thread on this... Not sure how to find it, however.
Spoke to someone who did this once, he said it wasn't all bad if you could figure your sleep schedule out. Of course, since you're working Sunday - Thursday nights, you get your whole Friday to do whatever the hell you want. He said a group of people at his firm would always go out and drink Friday morning. Great way to start the weekend.
I'd be curious to hear about this too, never done it but may have to start
Night hours in trading (Originally Posted: 11/14/2013)
I was wondering if anyone has worked the night shift (anywhere in the ballpark of 6 pm to 6 am) at a trading firm and could speak to their experience. Is it possible to sleep, have friends, have girlfriends, and generally be happy? For anyone who has worked nights, have the benefits paid off?
-firstordercond
naa...not really....generally not worth it...was a trader assistant at a HF for a while...initially its like a dream out of a good dream...you wake up whenever you want to...you work till 2-3 in the morning and then go party...have a hangover and yet wake up with no pressure to get up early...but over time, it just sucks...plus you are sleeping when world is awake and you are sleepy at work when your gf is all horny and in bed..
Overnight Trader (Originally Posted: 07/01/2014)
Hi all,
I've been looking for some posts here but I haven't seen too much on this. Has anyone in their career been an overnight trader during NY hours? What is the lifestyle like? Pros/cons? Is it possible to have a life outside of work since your most likely sleeping when the rest of the world is awake?
Any insights would help
You can do it (some of my colleagues have), but not for too long... It really wears you out (assuming you're normal).
Thanks for the post, very much appreciated. I would consider myself normal lol (as in not freakishly a nightowl or something of that sorts) with a very normal social life. I guess your work week becomes a Sunday-Thursday type environment. I know the field in itself is a bit niche so was curious if anyone has friends or knows of people that have done this or done this directly themselves.
What’s the shelf life of a position like this? Obviously I know it varies by person etc… but how are the exit ops, pay and overall pro/con to the job (ie Family life, Wife/Kids…). Obviously sacrifices have to be made in terms of taking a position like this.
I have been doing the Europe shift for the past 4 years and it definitely will take its toll.
The pros are you have a massive head start on everyone and while they sluggish and tired starting you are fully functioning when the important US news is hitting. Being first/early is a huge edge. It also allows you to take on more responsibility much faster.
The cons you can PM me about haha
I've worked the US shift from Europe for a few years, and it was a great experience. Get in at noon and leave at 10pm. I don't envy my co-workers who have the European shift in the US, those guys come in at 2am and can't get hold of clients until midday European trading hours.
Got to cram everything you should have done into the weekend.
Literally working on night market right now.
Pros: Extra pay. Speak to other traders and network. Weird stuff happens at night, always. Cons: Getting into "night mode" / back onto local time sucks ass. Wrecks your social life if you value sleep.
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