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Trading for a living!

  • 06-02-2015 11:17am
    #1
    SouthBank
    Registered Users, Registered Users 2 Posts: 23 ✭


    Just wondering does anybody on this forum trade their own capital, for a living?

    So I mean your primary source of income is what you generate through trading your own money.....not a clients money, or not working as a trader for a firm.

    If you do, I would love to hear your experience and thoughts on it. Personally, I work for a large asset manager for the last nine years. My relevant experience is more around being an assistant to the CIO - mainly (almost totally) in fixed income.


Comments

  • #2
    ixus
    Registered Users, Registered Users 2 Posts: 2,435 ✭✭✭ixus


    Some discussion on thread linked below. A lot of guys in Dublin use companies leverage to trade decent size, lower transaction costs and better infrastructure &support but essentially are trading their own account. I generally work in an office to be surrounded by other traders.

    http://touch.boards.ie/thread/2057115506/1/#post88262517


  • #3
    For ever odd
    Closed Accounts Posts: 608 ✭✭✭For ever odd


    SouthBank wrote: »

    My relevant experience is more around being an assistant to the CIO - mainly (almost totally) in fixed income.

    What in your experience, is the best way to trade fixed income?


  • #4
    SouthBank
    Registered Users, Registered Users 2 Posts: 23 ✭SouthBank


    For ever odd wrote: »
    What in your experience, is the best way to trade fixed income?

    My experience is more around allocation (within fixed income) and due to the industry I am in, duration bets are a little restricted and you don't get much opportunity to move away from your benchmark.

    I quite like the cross over plays from HG to HY to capture changes in the spread as you get a lot of forced sellers and buyers here.

    You can also find inefficiencies which provide a source of arbitrage in fixed income...eg implied inflation expectations may differ, even though bonds may be linked to the same index.


  • #5
    For ever odd
    Closed Accounts Posts: 608 ✭✭✭For ever odd


    A few posters on here are trading their own accounts. The general gist seems to be that its lonely trading on your own. Anyone I have meet that trades professionally absolutely loves it, and as ixus eluded to,they like been around like minded people.

    After nine years you must know the best times to be in the market and when to be out. How you react to trading your own money rather than someone else's is an entirely different kettle of fish, some lads can't handle the pressure or put to much pressure on themselves or get sucked into the market when they know they shouldn't.

    If you can write code and automate a system for yourself it is a big help, if not you must have the discipline to carry out your system manually without deviation.

    When you thinking of going for it?


  • #6
    SouthBank
    Registered Users, Registered Users 2 Posts: 23 ✭SouthBank


    For ever odd wrote: »
    A few posters on here are trading their own accounts. The general gist seems to be that its lonely trading on your own. Anyone I have meet that trades professionally absolutely loves it, and as ixus eluded to,they like been around like minded people.

    After nine years you must know the best times to be in the market and when to be out. How you react to trading your own money rather than someone else's is an entirely different kettle of fish, some lads can't handle the pressure or put to much pressure on themselves or get sucked into the market when they know they shouldn't.

    If you can write code and automate a system for yourself it is a big help, if not you must have the discipline to carry out your system manually without deviation.

    When you thinking of going for it?

    Yes, I met with a guy who went out on his own recently and he said his biggest issue was the loneliness. I actually think I have the type of personality where that could be a real problem for me, so I'm also trying to assess ways I can augment 'trading my own portfolio'. Hopefully I can come up with an idea to reduce both the psychological and monetary risk to myself.

    My firm is mainly ALM, with the CIOs responsible for picking sectors such as sovereign, credit, securitized, etc., as well as developing hedging strategies. In that sense, going out on my own and trading my own account is a major, major change for me.

    I can't code unfortunately, but I can write and back & forward test strategies. My role has changed recently, which is one of the factors making me want a change, but I think the biggest draw is working for myself. Have to balance that against a (relatively) safe salary, and the needs of two kids and a wife.

    If I think I can and should do it, I'll probably look at kicking off later this year.


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