Career Progression

Discussion in 'Professional Trading' started by MiamiHurricanes, Jun 2, 2005.

  1. As noted in Jack Schwager's interview with Bill Lipshutz in "New Market Wizards" regarding what percentage of currency trading done by large banks and investment banking firms is actual proprietary risk taking. Bill commented that most of the P&L in these firms is trading business related and not proprietary performance... even implying that at a lot of these institutions prop is a wash or a loss

    I would like to get an idea of how much proprietary trading goes on these days in such firms. i.e. what % is order flow oriented versus straight independent proprietary trading.

    What I am driving at is related to career management - as a trader progresses to being consistently/highly profitable is it better to 1. Start their own CTA hedge fund - 2. Trade their own capital - 3. Work for a large bank, investment bank 4. other....

    Obviously there are personal factors, but for sake of this perhaps we could focus on trading and personal performance as the highest priority.

    Any comments highly appreciated, thanks!

    PS Let the bullets fly