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cc1988
Registered: Jun 2011
Posts: 5 |
07-27-11 07:25 PM
Hi All,
I have been a consultant at an energy consulting firm, mainly in the electricity section, and want to break into trading power. My only issue is that most of the jr. trader opportunities I see, still require a bit of trading knowledge. I have done work in almost ISO and have a good background in power including energy and capacity markets, system dispatch, LMPs, virtual bids, FTRs, shadow prices, etc. I have experience running and doing analysis on several of the tools traders use including Dayzer and PROMOD as well.
Does anyone have any suggestions for getting my foot in the door?
Thanks in advance.
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bone
ET Sponsor
Registered: Apr 2002
Posts: 4329 |
08-24-11 12:11 PM
Go to the PJM website and look at the member firm listing. Send them resumes asking to interview for a quantitative analyst position - sounds like you have the background chops for that currently in place. Once you prove your worth to the firm in that regard, promotion to trader should be a given or at least you will have earned the right to interview elsewhere.
I traded physical power in the 90's and financial power in 2006-2008; I have two clients who currently trade physical power.
BTW, most HFs use head hunters to pursue traders.
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Spread, Relative Value, and Correlation Trading Instruction from a Professional Trader. The only thing that matters are Clients making money IN LIVE MARKETS. Why not interview my clients for yourself on an independent basis. My typical client is an outright directional trader looking to pick up an industry-recognized specialty technique. http://www.spreadprofessor.com
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octsa
Registered: Feb 2011
Posts: 27 |
08-24-11 01:27 PM
cc1988, try to apply as a back-office officer and then you will have you will have a foot in the door.  If you are in the U.S there are dozen if not hundred of firms list on ISOs websites.
Question for Bone
Good to know that you have experience in real-time power trade.
It seems they deal electricity only on the physical side ? (Spot market 5mins and day-ahead market.) They have all the licences for the ISOS, FERC import/export authorizations, RTO...
(What I understand is that they are selling and buying real power to real on the market but I don't know where is the line between physical and paper power trading strategies.
Do your clients are playing on the paper-side ?
Is it possible to trade this market interdependently and get the same edge other firms have. Clearly what is the advantage to get registered as a trading company on MISO, ERCOT.
Are they registered with market regulators and organisms or they are doing another kind of trade like using buy/sell PJM on CBOE combined with buy/sell NG,COAL etc...
I'M not sure I understand what is the PJM on CBOE, a derivative of the physical market but do you have access to a kind of T&S like registered firm have ?
Not a long time ago, I had an interview with a power trading team which is (I think) very successful since their base package is good ,which is really rare or even absent in most trading firm. Maybe I could finally afford technical education from a pro to succeed and evolve faster within the firm or even independently.
Best Regards
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rosy2
Registered: Aug 2006
Posts: 1399 |
08-24-11 03:06 PM
Quote from octsa:
cc1988, try to apply as a back-office officer and then you will have you will have a foot in the door. If you are in the U.S there are dozen if not hundred of firms list on ISOs websites.
do not apply for back-office!!! apply for what you want. the chances of moving are slim to none (at least at a bank/trading firm). Houston and the great plains region are filled with power and gas firms. I have seen a few desks popping up in chicago to do financial power (not including bp and citadel).
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