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ow223
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Joined: July 11th, 2011, 9:09 pm

Prospects of a high frequency FX trader

August 1st, 2011, 9:55 pm

Hi all, I'm currently interning in a BB. I've just completed 4 weeks in FX Sales and now I have 4 weeks in rates sales. Last week the global head of FX options trading approached me and basically interviewed me on the spot and told me he wants me to meet the head of E-trading. From what I can make out, he has a role in high-frequency FX options trading in mind for me. I've always viewed myself as more of a trader but I did enjoy my time in FX sales who strongly hinted they will be giving me a full time offer.I potentially have a pretty big decision to make here in choosing between FX sales, rates sales and high frequency FX options trading and since I will have had no experience of the latter I could easily make a big mistake here if I choose it. What is everyone's view on this particular type of trading, does it have a big future ahead of it? Would it be considered a better career path to go down than FX or rates sales (assuming I enjoy trading and sales equally)? How would the average compensation compare between these three areas?Any help or advice would be much appreciated.
 
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nicka81
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Joined: October 18th, 2009, 8:17 pm

Prospects of a high frequency FX trader

August 2nd, 2011, 2:28 am

Go for it if you love coding and statistics. Stay in sales otherwise. Also high-frequency is a very competitive area and it is getting more so. Many BBs cannot compete due to weak technology. Sales would be a more natural career track in a big bank.
 
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alghosh
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Joined: April 28th, 2010, 9:11 am

Prospects of a high frequency FX trader

August 8th, 2011, 8:54 am

@nick , I got an offer from a start-up HFT firm , it has a Non-Disclosure Agreement form . There is a particular point which states that I can not join another competing firm for 4 yrs since I leave the firm. I am curious to know that is this a standard practice by these type of firms, do you have any idea????.
 
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nicka81
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Joined: October 18th, 2009, 8:17 pm

Prospects of a high frequency FX trader

August 8th, 2011, 10:21 am

Non-competes are usual in this business but 4 years are too much. IMHO, no company will be able to enforce this in court, but it may give you trouble anyway. What company is that?