How does one become an Energy Trader?

Bump.

Anybody do any power trading in Canada or the Pacific NW? I graduated from university a few years ago and worked on a real-time desk in Calgary for one of the major generators and have recently moved into scheduling transmission in an adjacent market... (not hard to guess which one. :P)

I'm interested in trying to get into the trading part and have made some pretty good contacts. I still have quite a bit to learn w.r.t. transmission, but I feel that I have a pretty good handle on power market fundamentals. I've been trying to keep in the loop with the natural gas markets as well but it's pretty daunting, since I deal with mostly AECO and Sumas numbers where I am it seems there's another universe out there when you look Stateside.

I was thinking of trying to get into a system operator training program to really learn the ins and outs of the electricity business. It's a pretty long haul (around 3 or 4 years before you can expect to get your NERC certification, I think) but it pays quite well once you are certified and I would think it would be great experience if you wanted to get into trading down the road.

Anyone have any thoughts?
 
Quote from XBOT:

there are so many energy shops in houston but unless you are a recent grad going through a training program it usually takes around 4-5 years of doing other mid office crap before you can start to dabble in trading.

try applying at Shell Trading, ConocoPhillips, bp, Constellation, Chevron, Apache, Reliant, Merril Lynch Commodities, Integrys....

Majority of the shops in Houston are focused on gas and power. A few may have crude benches down here but your biggest chance is with a phys gas shop
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Stock Hur;
If i wanted an energy trading job, i would stay in touch with people like this untill i got in. Persistance pays.

And hopefully you will have a choice between good & bad or best & bad. BP[ London Co], not B Pickens ,set a record for fine-propane cheating [ $300 million fine ]. I like BP [London & B. Pickens plan] & buy lots of gasoline from BP london.


Also i would find out plenty about them from annual reports;especially since you seem to want to work for someone else.......................................................................:cool:

:cool:
 
Quote from StockHustler:

I am living in Houston and have experience trading stocks and options but want to crack into the energy trading industry. Most companies are located here in Houston and if any advice can be shed on this subject it would be greatly appreciated. Thank you.
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To be a true Trader why not trade energy yourself at Nymex/IPE via electronic broker platform, unless if you are looking for an employee position in which case there most guys call themselves traders when in reality they are glorified office clerks.
 
I trade physical and financial natty for a shop in Houston. I know little about power traders, seems to be quite alot of them on here. I do know that getting a job trading natty right now is going to be quite difficult, there are quite a few traders that have been cut over the last few months do to downsizing and closure of some shops. Credit is a major part of our business, and counterparty risks are massive. We have seen quite a large contraction in deal flow and liquidity in recent months due to this.

The good news is that this market is so historically cyclical, it won't be too long before new shops are started, existing ones are rehiring, and banks get back into the business again. Same cycle keeps happening over and over again.

Energy prices are likely to continue to get cheaper (at least in natty) over the coming months, which is going to setup the next bull market which I'm guessing will be the later half of 2010 as the falling rig rates and decline curve catch up with the balance.

If you can get a scheduling job, take it. This is likely where you will be able to get into trading as it gives you the knowledge required for natty trading.

Don't bother PM'ing me, I don't know anyone hiring at the moment and think there will be more cuts in the near future. Good luck to you.
 
Quote from StockHustler:

I am living in Houston and have experience trading stocks and options but want to crack into the energy trading industry. Most companies are located here in Houston and if any advice can be shed on this subject it would be greatly appreciated. Thank you.
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Open up a trading account with an FCM; fund it for $10k - $20k; do your best; learn the market...

If you do well you'll DESERVE to be with a prop firm.

If not, you simply don't deserve it. There are others with more experience than you who want the same thing.

You'd better be damn qualified if you want a shot.
GL!
 
just open a future account, trading crude is the same as trading stocks.

the same principle of trading holds here: buy low and sell high, sell high and buy low.

the same strategies applies: trending following, buy at support, buy at panic drop, sell at resistence, sell at frenzy buy, or simply buy dip and sell jump....

nothing more than that, just the symbol difference.

the good thing is crude is 24 hrs tradable a day, that is a plus if you have a day time job. I like it, though i just started to trade it.
 
Quote from Shagi:

To be a true Trader why not trade energy yourself at Nymex/IPE via electronic broker platform, unless if you are looking for an employee position in which case there most guys call themselves traders when in reality they are glorified office clerks.
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I suppose you've never been on the trading floor of a solid energy shop?
 
Quote from Shagi:

To be a true Trader why not trade energy yourself at Nymex/IPE via electronic broker platform, unless if you are looking for an employee position in which case there most guys call themselves traders when in reality they are glorified office clerks.
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Yea. How is a guy trading power or gas on an exchange or in the physical market, with a book of his own a "glorified office clerk" I also dont understand how you trade power on the Nymex.
 
Just to clarify, these are salaried positions? Is it necessary to hold an MBA or would a lot of experience in the markets get a guy in the door... ? I'm in Canada...
 
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