Anyone gave up trading for a living?

Use your trading experience as a positive. You ran your own trading business. Explain what you learned and how it will benefit your new employer.

Good luck,

Bob
 
wwatson1,

After 25 years, I had enough. It was not giving up, but moving on to a new challenge.

bob
 
I was a BD and member of the AMEX. It was not just trading, it was running a business in a regulated environment with escalating costs. To me, the MM business for equity options was no longer worth the risk reward. Too may option exchanges, too many orders crossed. Rather than build a new strategy to trade off floor without access to order flow, I chose to do something else. It was just not fun for me anymore. Time to move on.

I believe there is more value to trading off floor now as customer with a PM account, where you can trade whatever you want with good leverage, and no regulatory and infrastructure costs that BDs have.
 
Will depend on your line of work and current competition for roles.

When employers are desperate to fill a role and cant find anyone then if you have what they want they will overlook your resume 'gap'.

Also you might have be competitive with your rate as well.
 
rmorse said:
I was a BD and member of the AMEX. It was not just trading, it was running a business in a regulated environment with escalating costs. To me, the MM business for equity options was no longer worth the risk reward. Too may option exchanges, too many orders crossed. Rather than build a new strategy to trade off floor without access to order flow, I chose to do something else. It was just not fun for me anymore. Time to move on.

I believe there is more value to trading off floor now as customer with a PM account, where you can trade whatever you want with good leverage, and no regulatory and infrastructure costs that BDs have.
More...

Interesting stuff, is what your doing now working out for you?
 
Yes, I'm very happy in my new role. I get to talk to people all over the world and look for a solution for their trading business. I talk to a lot of X-floor guys, x-prop firm traders and traders leaving big firms looking to start their own business. I also work with active traders at retail firms like IB, TD etc, looking for a different type of relationship.

Before, I spoke to the guy next to me in the trading crowd and the brokers that would walk into the trading crowd. In the early days, it was a lot of fun. With electronic quoting, the floor traders disappeared. Most remote quote now. Less edge, higher cost....not for me.
 
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