June 19th, 2007, 6:18 pm
So I have been a graduate first, then junior trader, on the desk for 2 years now. The set-up here is essentially a senior trader and myself running the books. I have learned a lot so far, and it has been a terrific experience. But staying where I am, I will continue to be the one just helping out with the senior trader's books, and the learning curve will never be nearly as steep as it used to. The first option is to go and do the same sort of trading elsewhere, with a greater share of responsibility for the PnL. This is, in fact, what has been offered to me by every single headhunter that have called me. However, I feel that it may be a bit too early to run the book by myself. Especially after I have seen how difficult the business of prop trading, or making money out of thin air, can be. I would rather go for what I consider the second option. I would be keen to join a larger desk, work within a team of several talented individuals, contribute to the modelling and trading effort what I have learnt so far, and learn a lot of new stuff myself, at the same time. That would possibly involve different type of strategies to what I have been doing so far, or even perhaps a different asset class altogether.Am I right in thinking it is too early for me for the first option? (all HH's will say "no", but their view is clearly biased). I feel it would make much more sense to join a larger desk within a slightly different trading area, aiming to learn new approaches to trading. My understanding is that there comes a point in a trader's career, when you are justexpected to produce PnL and lead the development of new strategies, rather then be guided in your efforts by a senior teammember. However, I don't think this happens after one has had 2 years of trading experience. Regards