becoming a global macro player

[John_Galt]

Quick background:
Got back from gap year last year. Decided to defer college so I could concentrate on my trading and try make it on my own. I've been swing trading for 3 years and at the moment looking into scalping fixed income derivatives (primarily schatz, bobl and bund). I will be simulating for a few months then moving live. I love fast paced technical action but also macro analysis and economics.

I've had interviews this year at a private equity firm and a prop desk in another city, but failed to get in. Feedback was along the lines of 'maturity' (I just turned 20) and 'qualifications' (I've only attained a diploma since school). Otherwise I would apparently be a "very strong candidate"...
So now I've decided to enroll into college (Bachelor of Economics / or Bachelor of Commerce)

Where I want to go:
I'm young and like to trade fast. But later I would love to utilize macro-analysis. I see myself taking macro bets at a much older age when I'm wiser, more patient, and no longer a fast-paced tape addict.

So do I go the IB route after college (I have the marks to enter the necessary college) and work my way up the corporate ladder for 6 years sleeping before getting to a prop desk:cheesy:?
Or do I join a local/overseas prop firm and/or later join a smaller hedge fund working with macro?

I have read Paul Tudor started in the pit playing the small moves and later began integrating his macro analysis into the trades (and extending their time-frame of coarse). This idea of working your way up through styles really appeals to me but I'm not sure if it still holds true today.

What are members thoughts on these two routes (IB vs prop/small hedge fund)?
What should I be aiming to do NOW if I want to be a BIG global macro player in the long-term?

 

[SAINT]

The degree is the best option at the moment and continue developing your macro/economic awareness. Investment Banks are probably not the best place now due to the fact they will endure tougher regulation in their ability to take on leverage etc. Hedge Fund would be the way IMO.

 

[anley]

Don't get too worked up about all the buzz words like 'global macro analysis trading'.

Look between the lines and you'll see they're just crappy marketing phrases to get people to buy their funds - trying to create an illusion that the people behind the funds are 'ahead of the curve' - another useless phrase if ever there was one.

if you're a trader or investor that goes for US bonds, Japanese Yen, UK small caps, French Utilties, Saudi property stocks, Australian short term debt - Why dress that up in a fancy word because to me you're just a trader/investor, nothing more nothing less.

Plus, if you're 'fast paced', no doubt a 'go to guy' and 'aggressive' at that, you might even be a 'decision maker' or even better 'a decision influencer' you might not be able to trade longer term.

The trading world is littered with good traders (from one time frame) who are disastors when they tried to trade other time frames. For example, one of the best and well known traders in London for the last 20 years at short term trading and especially spreads, loses millions per year (on average) when he tries to go long term. The guy is clever no doubt about it but the success he has in one arena fools him into thinking it's portable into other timeframes.........

 

[John_Galt]

Since posting this a long time ago I've made a few decisions.

One is that I'm concentrating on short-term trading. As Anley mentioned, specialty is king. Right now I love what I'm doing so I'm sticking with that and not concerning myself with what I may/could/should want to do.

I will be going to university but IB is not in the plan.

Cheers

 

[naked shorts]

I've been swing trading for 3 years and at the moment looking into scalping fixed income derivatives (primarily schatz, bobl and bund).

What happened to that plan? did you get eaten up by all the flippers?

 

[John_Galt]

timezone...

The Seng suits me perfectly so that I'm basically working 2 full-time jobs. Dealing at night, trading the seng during the day (and fitting in some sleep).