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Originally Posted by iloveny161
1. For bigger sized markets, do your brokers give you color on who's the entity asking? Let's say they hit/lift you for significant size immediately, would there ever be a situation where you wouldn't start hedging the bulk of that position as fast as you can? I would love to hear your typical thought process/progression is like for these sorts of situations.
I trade almost entirely on the screen, I can watch and join the brokers market but I don't know a ton about it.
Ideally I prefer not to hedge at all! Hedging by definition costs money, so unless I'm forced to reduce my risk, I want to have more trading opportunities, or I think I know something about where prices are going there is no point in hedging.
In reality the above often apply. For example if someone buys a ton of calls (I sold) I know that other market makers are about to buy stock. That means the stock is about to rise and the last market maker to get there is going to be forced to buy the stock at terrible prices, maybe even making his trade a net loss.
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2. How's the lifestyle / work-life balance? Also, are most of the people in their 20s/30s, or does everyone tend to stay in trading for many decades?
Thanks for your time!
Work-life balance is easily the best out of all the finance jobs. I'm out of the office by 2-3pm at the latest, work doesn't follow me home, no weekends, unlimited pto and nobody ever gets emotional. It's such a gap between the poor shmucks I know in I banking, definitely chose the optimal finance career path.
Of course when I am working I need to be functioning at 100% at all times, not trying to imply it is anything close to easy.
I think similar to poker, it used to be all young guys who run on intuition and aggression and burn out quick, but its matured and now you can only make it/survive by being deliberate and knowledgable. So the average age was very young 5-10 years ago but its creeping up and I expect it to continue doing so.