supremegizmo
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Hello Everyone,
Just though to give my feedback on what the current situation is in securing FX trader role .
well a bit about my self
Currently working as a FX dealer EURUSD specialist in london
Have a previous background working as fx prop trader at prop house.
Have successfully produced on avg 10-15% a year on 100k USD notional custodial account in EU bank (verifiable track record 4 year) investing in equities, bonds with a focus to get FX exposure in Emerging markets. (discretionary - pure fundamentals - long term - buy only- yield seeking )
Have successfully developed intra day strategies using complicated algorithms and concepts like neural nets . The strategies yield Sharpe between 2-3 ( min 15%annual return)
I spend 8-10 hours doing my full time job and 3-4 hours a day doing my homework ( developing/researching strategies, analysing macro economic data etc )
Now comes the reality
When it comes to securing a trading role in a hedge fund or IB it literally impossible. First of all the the jobs which come out are filled internally. Most of this IB's want candidates from IB background even though you could have the potential to make money for them. Not to mention recruitment agents have a negative bias for people from prop trading background.
Worst of all I have seen candidates given trading role jumping from BO to Trader's assistant because they were fit :cheesy: . I have seen candidates geting fired from trading desk and then getting hired in another IB as traders even though they dont have track record.
It is very frustrating when one is so passionate about FX and committed to the career. while full blown recession was under way I went through the pain and stayed committed to FX doing trading/dealing roles whereas I could see other switching to BO and MO roles who were ambitious at one point to become traders.
The point of story is to stay committed to the game and become adaptive (add value to your cv by doing and learning different things about your market) I have come to a point where I will never regret to what I have done or joined an arcade to become FX trader. I took a risk and has paid off.
The point is that my trading has improved day by day and by now I deploy not only fundamental but technical , quantitative strategies to generate returns. I not only do discretionary but also systematic trading as market dynamics change.
Fingers crossed , if things go right hopefully open my own FX fund
but long way to go hopefully I will land up and experience a role in IB or hedge fund as my passion overtakes my pain
Just though to give my feedback on what the current situation is in securing FX trader role .
well a bit about my self
Currently working as a FX dealer EURUSD specialist in london
Have a previous background working as fx prop trader at prop house.
Have successfully produced on avg 10-15% a year on 100k USD notional custodial account in EU bank (verifiable track record 4 year) investing in equities, bonds with a focus to get FX exposure in Emerging markets. (discretionary - pure fundamentals - long term - buy only- yield seeking )
Have successfully developed intra day strategies using complicated algorithms and concepts like neural nets . The strategies yield Sharpe between 2-3 ( min 15%annual return)
I spend 8-10 hours doing my full time job and 3-4 hours a day doing my homework ( developing/researching strategies, analysing macro economic data etc )
Now comes the reality
When it comes to securing a trading role in a hedge fund or IB it literally impossible. First of all the the jobs which come out are filled internally. Most of this IB's want candidates from IB background even though you could have the potential to make money for them. Not to mention recruitment agents have a negative bias for people from prop trading background.
Worst of all I have seen candidates given trading role jumping from BO to Trader's assistant because they were fit :cheesy: . I have seen candidates geting fired from trading desk and then getting hired in another IB as traders even though they dont have track record.
It is very frustrating when one is so passionate about FX and committed to the career. while full blown recession was under way I went through the pain and stayed committed to FX doing trading/dealing roles whereas I could see other switching to BO and MO roles who were ambitious at one point to become traders.
The point of story is to stay committed to the game and become adaptive (add value to your cv by doing and learning different things about your market) I have come to a point where I will never regret to what I have done or joined an arcade to become FX trader. I took a risk and has paid off.
The point is that my trading has improved day by day and by now I deploy not only fundamental but technical , quantitative strategies to generate returns. I not only do discretionary but also systematic trading as market dynamics change.
Fingers crossed , if things go right hopefully open my own FX fund
but long way to go hopefully I will land up and experience a role in IB or hedge fund as my passion overtakes my pain
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