Hedge Fund in London

[jules0305]

I'm risking all sorts of responses here but neverthless....I run a recruitment business in London and have a HF client looking to hire a trader for FX. Overnight/intraday time-frames. Discretionary trading, but must have a systematic view of risk management!! London based.
Does this site allow for private messaging somewhere....I am aware that people will not necessarily want to respond to a public forum. E-mails can be sent to [email protected]

 

[BSD]

Don't see why you should be risking any negative responses, sounds like a great opportunity for someone with a good method and great track record and who wants to take his trading to the next level.

 

[shadowninja]

I am in two minds. I think it's great that we can see such jobs being available but sooner or later, every financial recruitment consultant will start new threads posting jobs going.

That said, has Sharky thought of having a jobs section and pitching the idea to all the city recruitment firms?

 

[jules0305]

See your point shafowninja. May be a separate area for career issues and opportunities could be good.
That's exactly what we're after BSD. Probably someone off a bank prop desk who has a system but but isn't insentivised to run with it. Will also need to thrive in the more librairian atmosphere of Mayfair rather than high-octane Can Wharf....

 

[wasp]

See your point shafowninja. May be a separate area for career issues and opportunities could be good.
That's exactly what we're after BSD. Probably someone off a bank prop desk who has a system but but isn't insentivised to run with it. Will also need to thrive in the more librairian atmosphere of Mayfair rather than high-octane Can Wharf....

I fail too understand why, someone whom is successful enough to be hired, would take a position where they would never make the same as what they could on their own, unless they have an issue with trading a large size, which in turn, would not put them into a position to be hired in the first place. I appreciate the size of a fund is monumental in comparison to the average retailer, but any retailer with a solid future and skill will, eventually, achieve equality (in size) without having to only take a percentile wage from a fund.

 

[jules0305]

I fail too understand why, someone whom is successful enough to be hired, would take a position where they would never make the same as what they could on their own, unless they have an issue with trading a large size, which in turn, would not put them into a position to be hired in the first place. I appreciate the size of a fund is monumental in comparison to the average retailer, but any retailer with a solid future and skill will, eventually, achieve equality (in size) without having to only take a percentile wage from a fund.

Equally there are a number of traders who fail to see why they should restrict themselves to trading retail when they can build up a track-record in the professional market and trade their own money within a fund at the same time. Fortunately markets can be viewed from many different angles.

 

[options]

I fail too understand why, someone whom is successful enough to be hired, would take a position where they would never make the same as what they could on their own, unless they have an issue with trading a large size, which in turn, would not put them into a position to be hired in the first place. I appreciate the size of a fund is monumental in comparison to the average retailer, but any retailer with a solid future and skill will, eventually, achieve equality (in size) without having to only take a percentile wage from a fund.

Quite understand what Wasp is saying. And also understand your reply Jules.

I would love to do that job. Just to have that amount of backing and be able to trade my own money. As long as your hands are not tied with trading to company rules too much.

But Wasp and I come from much the same background. (Actually, we didn't live too far away from each other), and no firm looking for traders would even let us get a foot through the door. (Well, I'd let Wasp go first 'cause he's a big bloke!)
No university, left school with little to show for it, Did various manual jobs, started trading, lost money, and eventually qualified out the other end of the school of hard knocks. Have made good money, no verifiable records and no qualifications means though that no firm would even give us a look. You have a few uni guy on here/just joined etc, Those'll be the guys getting in touch with you and getting the jobs.

I've always gone by the creed that you are only as good as your last trade... Maybe that's not the right example this week as I ended the last trade on Friday on a 1 pip loss.
I have a very low risk tolerance.

Good fortune to all.

 

[BSD]

I fail too understand why, someone whom is successful enough to be hired, would take a position where they would never make the same as what they could on their own, unless they have an issue with trading a large size, which in turn, would not put them into a position to be hired in the first place. I appreciate the size of a fund is monumental in comparison to the average retailer, but any retailer with a solid future and skill will, eventually, achieve equality (in size) without having to only take a percentile wage from a fund.

I see your point Wasp (can I keep calling you that as your new name is simply too long and shortening it to Banana doesn't quite seem to do you justice lol), but I think a lot depends on the deal you cut out for yourself.

Eg I seem to remember having read that SuperStar Paul Tudor Jones incentivizes his traders by offering them deals that are almost as good as if they'd start their own hedge fund, meaning they get close to 20% of the profits that they make.

Now, lets say they give you a hundred mill or even several to trade...

you have a good year...

double that...

And hey, come December or whenever they close their books you go home with upwards of 20 mill in your pocket.

Now, of course if you are really good you can start with a small amount and compound yourself up to that level and way beyond.

But it is a shortcut though, isn't it, that can accelerate things quite a bit, what ?

Btw, options, I read in the same interview with him that he doesn't really care what people did or didn't do before, all he cares about is their ability to make money and a track record to demonstrate just that.

Which makes sense, that's all this is about, right, the ability to make money.

 

[Lee Shepherd]

I've always gone by the creed that you are only as good as your last trade... Maybe that's not the right example this week as I ended the last trade on Friday on a 1 pip loss.
I have a very low risk tolerance.

Good fortune to all.

I usually use this very line myself but not this week.

I am the worst trader there is, minus -2000 plus points on expired nikkei225 contracts.

Can we adopt the line you're only as good as the weeks before trade.

 

[options]

I usually use this very line myself but not this week.

I am the worst trader there is, minus -2000 plus points on expired nikkei225 contracts.

Can we adopt the line you're only as good as the weeks before trade.

Yeah I read that on another thread.
That's one to tell the grandchildren.

Feel for you m8, but at least you are open about it, prob get over it quicker that way. But it does beg the question.

How?

 

[wasp]

Quite understand what Wasp is saying. And also understand your reply Jules.

I would love to do that job. Just to have that amount of backing and be able to trade my own money. As long as your hands are not tied with trading to company rules too much.

But Wasp and I come from much the same background. (Actually, we didn't live too far away from each other), and no firm looking for traders would even let us get a foot through the door. (Well, I'd let Wasp go first 'cause he's a big bloke!)
No university, left school with little to show for it, Did various manual jobs, started trading, lost money, and eventually qualified out the other end of the school of hard knocks. Have made good money, no verifiable records and no qualifications means though that no firm would even give us a look. You have a few uni guy on here/just joined etc, Those'll be the guys getting in touch with you and getting the jobs.

I've always gone by the creed that you are only as good as your last trade... Maybe that's not the right example this week as I ended the last trade on Friday on a 1 pip loss.
I have a very low risk tolerance.

Good fortune to all.

Scarily similar options! Wouldn't do it myself though, I love the way I have it now, wouldn't change it for the world.

I see your point Wasp (can I keep calling you that as your new name is simply too long and shortening it to Banana doesn't quite seem to do you justice lol), but I think a lot depends on the deal you cut out for yourself.

Yeah may as well! Changing names never worked for Prince either!

Eg I seem to remember having read that SuperStar Paul Tudor Jones incentivizes his traders by offering them deals that are almost as good as if they'd start their own hedge fund, meaning they get close to 20% of the profits that they make.

Now, lets say they give you a hundred mill or even several to trade...

you have a good year...

double that...

And hey, come December or whenever they close their books you go home with upwards of 20 mill in your pocket.

Now, of course if you are really good you can start with a small amount and compound yourself up to that level and way beyond.

But it is a shortcut though, isn't it, that can accelerate things quite a bit, what ?

Ahh, but why take 20% when you could have 100% and take home the lot?!

It may well take a year or two longer but this is part the reason I work for myself... I don't want to make other people money for my hard work!

Btw, options, I read in the same interview with him that he doesn't really care what people did or didn't do before, all he cares about is their ability to make money and a track record to demonstrate just that.

Which makes sense, that's all this is about, right, the ability to make money.

Can't say I could do it myself. 4 years ago I would have jumped at the chance to join a prop firm or fund but now I can match them in size, why would I give up 80% of my skilfully earned returns fo someone else when I can have the lot?!!!

 

[TWI]

Of course it makes sense to work for a fund. I have done both, spent over 3 years trading my own book and that after spending 12 years trading for other people. Then I moved to a fund and the fact is, if you get allocated 25/50/100m+ and get 15% of upside not to mention a decent cut of the management fee as salary, generally you will come out on top vs. trading your own cash. Simple economy of scale. The main issue is getting into the position to be allocated the funds. In my case it was because I happned to know the right person at the time. The best part is, if you are confident enough to know you can make your living trading your own account it provides a great psychological stop when trading for a fund. The only drawback is that since I have clients I feel obliged to be at the screens every day. When I traded my own capital taking time off whenever I chose to was far easier. The upside however is the potential upside.

 

[wasp]

You make it sound like a real job TW1...!