- At the bank there are more computer screens. It is a lot easier to get all the info on a screen and having Bloomberg and Reuters is nice.
- When your computer starts acting up at the bank, you yell (or whine) and someone will come and do something that a trader could not figure out. Something like making sure your number lock is on so you can use your number keypad.
- Having a bad day with the bank’s money is not the same as having a bad day with your own money. Using your own money is a lot harder. Doing things that are not recommended like doubling up on a bad position is easier with other people’s money.
- Bank traders see flow. Smart money trading through your book will often show you the way. Many a “good” bank trader has left a good flow seat and felt completely lost when trading on their own.
- Rumors are easier to start as you have more credibility when spreading them amongst your interbank connections.
- You sit amongst a group of traders at the bank. Sometimes this is a good thing, sometimes not. You must filter out a lot of the noise and useless info that make the rounds.
- At the bank you can quote “nasty” customers that mean you harm. That is a downside.
- But executing orders will also give you valuable market info.
This is not an easy game so give yourself credit when you succeed and do not get too down when you are having a tough go of it.
