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How does one become an Energy Trader?
- Thread starter StockHustler
- Start date
After reading many of the posts here, I see there is the obvious point missing. Lets be honest, to be a energy trader apart from the obvious experience ect ect that most of the replies here have stated, you need to be in the right place at the right time.
Its political and there will be an existing team already in place with an existing work culture and existing age range. Some teams may average 28 to 35, others may average 30 to 40. So when a 25 year old says can i join the team and trade just like you guys there is already some resistance. experience only helps you so far. I know stock traders who have traded Options ect ect, they go into energy trading and they loss so much money for the company they almost qualify for a hitman put on them. Being a stock trader and being an energy trader are two different things entirely. Its like saying I play football better than David Beckham but i really want to be a basketball player. Ok they are both sports but two different skill sets entirely. I dont mean to be putting you off, actually quiet the opposite. Now let me give you some realistic advice here, if you want experience, notice that different trading desks will require different skills. Some want a back office clerk, some want someone with risk experience, others want someone from a sourcing background, or maybe even confirmations. But then again I have heard stories where a simple data entry clerk was friends with a trader and when a trading position came up he was recommended.
There is no typical trader mentality and there is no ideal candidate for the job, but what you have to realise is that you will be trading other peoples money. So dont expect to be a trader on day one. Would you give me your families money tomorrow and let me trade it? No because you dont know me. Same way an energy company thinks. First get in, do your job right then see what happens.
Good luck!
Its political and there will be an existing team already in place with an existing work culture and existing age range. Some teams may average 28 to 35, others may average 30 to 40. So when a 25 year old says can i join the team and trade just like you guys there is already some resistance. experience only helps you so far. I know stock traders who have traded Options ect ect, they go into energy trading and they loss so much money for the company they almost qualify for a hitman put on them. Being a stock trader and being an energy trader are two different things entirely. Its like saying I play football better than David Beckham but i really want to be a basketball player. Ok they are both sports but two different skill sets entirely. I dont mean to be putting you off, actually quiet the opposite. Now let me give you some realistic advice here, if you want experience, notice that different trading desks will require different skills. Some want a back office clerk, some want someone with risk experience, others want someone from a sourcing background, or maybe even confirmations. But then again I have heard stories where a simple data entry clerk was friends with a trader and when a trading position came up he was recommended.
There is no typical trader mentality and there is no ideal candidate for the job, but what you have to realise is that you will be trading other peoples money. So dont expect to be a trader on day one. Would you give me your families money tomorrow and let me trade it? No because you dont know me. Same way an energy company thinks. First get in, do your job right then see what happens.
Good luck!
Thanks for the feedback...
I can see what you mean about once a broker always...since many of the guys here are older, but I'm young (naive) I think I'll be able to make the transition. Especially considering the anemic hiring in the US economy these days, future employers will be more understanding about my time as a broker. Plus since it is strictly options it's a bit more cerebral than other brokering positions. That said, I'll do everything I can to buck the trend.
Biggest reason for MBA would be to get a "name brand" school on my resume and b/c they usually have a good recruiting dept, banks often have on-campus interviews. Additionally, you get the alumni support which can be very important in climbing the ranks. I'm talking NYU, Columbia, Univ of Chicago, etc. I'm in agreement that lesser MBA programs can be pointless.
I can see what you mean about once a broker always...since many of the guys here are older, but I'm young (naive) I think I'll be able to make the transition. Especially considering the anemic hiring in the US economy these days, future employers will be more understanding about my time as a broker. Plus since it is strictly options it's a bit more cerebral than other brokering positions. That said, I'll do everything I can to buck the trend.
Biggest reason for MBA would be to get a "name brand" school on my resume and b/c they usually have a good recruiting dept, banks often have on-campus interviews. Additionally, you get the alumni support which can be very important in climbing the ranks. I'm talking NYU, Columbia, Univ of Chicago, etc. I'm in agreement that lesser MBA programs can be pointless.
Quote from HappyJoe:
After reading many of the posts here, I see there is the obvious point missing. Lets be honest, to be a energy trader apart from the obvious experience ect ect that most of the replies here have stated, you need to be in the right place at the right time.
Agreed. I took a flier and answered an ad on Craigslist in '07. Right place right time.
Hello Everyone,
Hello. My name is Mike and I from Ireland. I have just completed my 3rd year of my business degree and I am very interested in the area of trading and especially the whole energy area. I would really like to get into this area when I have completed my studies. My college is not one of the best in Ireland (we were ranked 12th in a recent poll) and my college course is also not ideal. I am currently majoring in marketing (I know not the best area for trading). We currently have no class on the whole area of trading. We just do a little on stock markets in our fiance class. I started an interest in the area of trading about a year a go after seeing Wall Street the movie. Everything I have learnt on trading has been self thaught. Ireland is not exactly a hot bed for trading and I actually do not know of anyone working in trading in Ireland. I am interested in a career in this area but is it just a pipe dream, especially after reading some of the comments on this page about guys with phd and MBA's. Any advise would be welcome, thanks
Hello. My name is Mike and I from Ireland. I have just completed my 3rd year of my business degree and I am very interested in the area of trading and especially the whole energy area. I would really like to get into this area when I have completed my studies. My college is not one of the best in Ireland (we were ranked 12th in a recent poll) and my college course is also not ideal. I am currently majoring in marketing (I know not the best area for trading). We currently have no class on the whole area of trading. We just do a little on stock markets in our fiance class. I started an interest in the area of trading about a year a go after seeing Wall Street the movie. Everything I have learnt on trading has been self thaught. Ireland is not exactly a hot bed for trading and I actually do not know of anyone working in trading in Ireland. I am interested in a career in this area but is it just a pipe dream, especially after reading some of the comments on this page about guys with phd and MBA's. Any advise would be welcome, thanks