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Are there any True Wall street traders on this site
- Thread starter lasner
- Start date
Really...cool which one do you work at(O.K. if you don't want to say)
I know a couple of guys that worked as energy traders but not on Wall street I think wall street is tougher.
My one friend worked for a company called constellation energy and my other worked at direct energy as a junior trader...both got laid off.
I always wanted to work on Wall Street as a trader....it's just so tough to make it. So competitive...the only way to make it in is with a top 10 MBA
I know a couple of guys that worked as energy traders but not on Wall street I think wall street is tougher.
My one friend worked for a company called constellation energy and my other worked at direct energy as a junior trader...both got laid off.
I always wanted to work on Wall Street as a trader....it's just so tough to make it. So competitive...the only way to make it in is with a top 10 MBA
Well, what do you mean by top firms? It seems you are under the impression from news articles that all the top traders work at big Wall St firms. In the fixed income world, this is true. They and the bankers are the ones getting paid well if anyone truely is. Albeit all in stock with a minimum 5 year vesting schedule at firms like GS.
'Top' equity traders do not exist at the bulge bracket level anymore. With automated or electronic trading and vwap algorithms and such, there is not much need for capital commiters even. Proprietary trading departments at these firms are just starting to re-emerge in a very small capacity after being shut down across the board in 2008. Many of the 'top' stock traders have re-emerged at both hedge funds and prop shops of one form or another or are trading on their own.
'Top' equity traders do not exist at the bulge bracket level anymore. With automated or electronic trading and vwap algorithms and such, there is not much need for capital commiters even. Proprietary trading departments at these firms are just starting to re-emerge in a very small capacity after being shut down across the board in 2008. Many of the 'top' stock traders have re-emerged at both hedge funds and prop shops of one form or another or are trading on their own.
Quote from lasner:
Really...cool which one do you work at(O.K. if you don't want to say)
I know a couple of guys that worked as energy traders but not on Wall street I think wall street is tougher.
My one friend worked for a company called constellation energy and my other worked at direct energy as a junior trader...both got laid off.
I always wanted to work on Wall Street as a trader....it's just so tough to make it. So competitive...the only way to make it in is with a top 10 MBA
I'd rather not say. We were one of the 19 that got stress tested as a hint though. Dunno commodities, my job is mostly in the rates world, though we do a lot of credit, FX, and equity as well. My advisor in university had another student who went to work at Constellation, he's not a trader but energy price modeler/forecaster. As to qualifications to getting trading job at the banks? Well I don't know what the bar is education-wise but experience wise it's about 15-20+ years in the area.
Quote from Tide31:
'Top' equity traders do not exist at the bulge bracket level anymore. With automated or electronic trading and vwap algorithms and such, there is not much need for capital commiters
Really I know that seems to be the norm nowadays....which I never understood. I guess that shows you how truly hard it is to trade.
They hire quants now with algorithms rather than traders. WTF
Funny thing is they never hired quants for energy traders. My friends told me that they never even used technical analysis...most of it was all fundamentally done.
The top traders are never quants...soros, kovner, arnold, Simon's from Medallion is...he's pretty damn good
Quote from lasner:
Really I know that seems to be the norm nowadays....which I never understood. I guess that shows you how truly hard it is to trade.
They hire quants now with algorithms rather than traders. WTF
Funny thing is they never hired quants for energy traders. My friends told me that they never even used technical analysis...most of it was all fundamentally done.
The top traders are never quants...soros, kovner, arnold, Simon's from Medallion is...he's pretty damn good
Please stop generalizing, algos and quants are used in ever market as are discretionary traders using all types of analysis, there are no rules in how to make money.
Name dropping makes me sick.