Overwhelmed Newbie FX Options Trader - Does it get easier ?
Hi Everyone,
As a new fx options trader at a large international bank, I am finding it all very overwhelming at the moment. My work life balance doesn't exist and I feel frustrated 90% of the time because I don't understand what is going on around me. I wanted to reach out for some advice from other traders on coping strategies when you are a junior.
In my short 3 months into the role, I have realised that trading is probably one of the loneliest jobs out there. Everyone wants you to fail, you can't trust anyone not even your team members as you are in a constant competition in relation to P&L...You are constantly on edge trying to protect yourself etc...
As a junior starting out, I sadly don't have a mentor I can talk to or a proper training program to follow when trying to learn fx options. I was hired to get up to speed and start trading asap. With the new regulatory environment, they have cut down costs and also their training programs unfortunately.
All the confusion from not understanding everything around me just ends up compiling to more frustration each day. I ask the trader one question and he complicates it so much that I don't want to ask him anything...I don't know how to prioritise information I read on bloomberg or other research material..Almost anything can impact currencies.. I update the vol surface, then book all trades and then try to backsolve what the traders did to understand on how they manage risk while also drowning in the noise of spot guys and the brokers shouting all day long..I am always on the desk the earliest and last to leave. I come in on weekends to try to learn more.. I am also studying for my accreditation exams at the same time (at night after work) Traders in other geographical regions have no interest in helping me out with my questions - I only get 1 word answers... it is just extremely hard at the moment to learn this stuff... My life feels like maximum input and minimum output at the moment. Really hard to measure progress. I don't really know what else to do at this stage..
I was wanting to know if it ever gets better? Or is the general theme of feeling frustrated and agitated all the time part of your life? Is this how all fx option traders learn? - by being left alone in the dark to figure things out...
I really came into this job, hoping that I would enjoy the work and the intellectual aspect of it. Just having a really hard time trying to adapt, learn and get up to speed..
Are there any advice anyone can give out so I can manage the day-to-day struggles I am facing..
Many thanks to everyone!
Hi db20, hope I can help. Do any of these links cover what you're looking for:
More suggestions...
I hope those threads give you a bit more insight.
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