Power Trading Round Two

[themack89]

Round Two meaning this is my second thread on this, figure nobody likes to read old news.

Looking for some leads for Power Trading or a position that would lead to Power Trading. (Excluding ENMAX and TransAlta, I have strong connections there which are being ironed out).

Summary:
Graduating Econ w/ Concentration Applied Energy, Regulatory Economics Stream (April I will be done)
2nd Place BP Commodity Trading Competition
Will be competing in Rotman International Trading Competition in Feb for UofC
Familiar with VBA for algorithmic trading
Traded at a bucket shop before, so familiar with ECN's, market making, dark pool trading.
Regulatory Economics term paper will be on Asymmetric Info trading practices instituted by the MSA

I have very strong references if requested.

PM if do not wish to divulge information publicly.

Thanks Guys

[sputnik]

Have you fired off a resume to NGX yet?

They have marketing positions (not sure if any are open) where you deal directly with traders using the NGX/ICE system to broker and clear deals. Certainly a position there would give you a chance to know all of the power players in the industry.

www.ngx.com

[woodywoodford]

Pretty nice resume for a student... makes me feel guilty for not joining clubs/competitions lol

But dark pool trading sounds fuggin badass

[Jerms]

Not too familiar with the Power Markets but have you come across anything from Capital Power? Smaller company - maybe less competition?

Also just a question - were you employed by BP at any time? How were you able to participate in the BP trade game?

[themack89]

Originally posted by Jerms
Not too familiar with the Power Markets but have you come across anything from Capital Power? Smaller company - maybe less competition?

Also just a question - were you employed by BP at any time? How were you able to participate in the BP trade game?

Yes I have looked into Capital Power, very tough firm to get in with especially considering my buddy has a similar resume only he has actually worked for them as a Summer intern--I have applied and will keep trying to get in

As for BP, they were the sponsoring company for the competition and the platform we used is the same one they use to train their traders. As a result of the competition I got a preferential invite to something called BP University where we basically check out their office / trading floor and they give us some rudimentary lessons on market operations. So no, I have not worked for BP

@Sputnik - I fished around on the website for NGX and it isn't obvious to me how to apply, can you link me directly to the career section?

[stealth]

I haven't read the previous thread, but are you talking about Power Trading, as in selling blocks of MW Power/reserves to AESO?

If so, at DOW Chemical in Ft. Saskatchewan you do not need any formal schooling to be a Power Trader. You can try submitting your resume to them, but I do not think they are looking for any right now.

[Super_Geo]

Originally posted by themack89
As for BP, they were the sponsoring company for the competition and the platform we used is the same one they use to train their traders. As a result of the competition I got a preferential invite to something called BP University where we basically check out their office / trading floor and they give us some rudimentary lessons on market operations. So no, I have not worked for BP

Why don't you apply to trade oil/gas at BP? Sounds like you have somewhat of an in with them... and it's a shop that'll let you swing some size if you know what you're doing.

[AndrewMZ3]

You should check in with your ENMAX contact. One of their RT guys left maybe a month or two ago. Haven't checked if they put a posting up for his spot or not though. I also heard that Nexen was looking for RT a little while ago, not sure if that was filled or not.

[themack89]

Originally posted by stealth
If so, at DOW Chemical in Ft. Saskatchewan you do not need any formal schooling to be a Power Trader. You can try submitting your resume to them, but I do not think they are looking for any right now.

Thanks for the heads up on DOW. I applied for their position in Houston and realize they are looking for someone experienced. Hence they were quick to dismiss me through E-mail.

Originally posted by Super_Geo
Why don't you apply to trade oil/gas at BP? Sounds like you have somewhat of an in with them... and it's a shop that'll let you swing some size if you know what you're doing.

You are one of several in the past few days to suggest BP. I applied for their Trading Analytics Development position tonight and made the short list (again sent through E-mail). The only thing I am not looking forward to with BP is the fact that they don't let you touch a desk for 3 years with this position (as far as I know anyways).

Originally posted by AndrewMZ3
You should check in with your ENMAX contact. One of their RT guys left maybe a month or two ago. Haven't checked if they put a posting up for his spot or not though. I also heard that Nexen was looking for RT a little while ago, not sure if that was filled or not.

The position was closed a few days ago, and my Enmax contacts have said the position is filled. Though I am meeting with one of them later next week to discuss other possibilities.

I will check out Nexen.

As a side question... What category do you guys think Trading related jobs would be under on most career websites? My intuitive guess is Finance, but there are other possibilities.

[Super_Geo]

Originally posted by themack89
You are one of several in the past few days to suggest BP. I applied for their Trading Analytics Development position tonight and made the short list (again sent through E-mail). The only thing I am not looking forward to with BP is the fact that they don't let you touch a desk for 3 years with this position (as far as I know anyways).

Won't be on a desk for 3 years? Who cares!

I would much rather go through BP, get a proper fundamental training, and eventually get a seat vs. 'trading' (term used very loosely) real time power with the hope of landing a seat trading term.

Put 95% of your efforts into getting into BP.

Originally posted by themack89
As a side question... What category do you guys think Trading related jobs would be under on most career websites? My intuitive guess is Finance, but there are other possibilities.

The type of job you're looking for won't be posted... or will only get posted as a HR formality after they have already picked the guy they want.

[CLiVE]

^^Good information.

You will be lucky to get a trading position right out of school. Likely will have to go the analytics route, or 'real-time' trading and put in some time and gain experience.


pm sent...

[mgwatson]

Originally posted by themack89

The only thing I am not looking forward to with BP is the fact that they don't let you touch a desk for 3 years with this position (as far as I know anyways).

You're fresh out of school, of course they won't let you touch the desk for at least three years. You're in for a rude awakening if you anticipate trading straight out of school. Have patience. It looks like you're taking the right steps to get to where you want to go, and it will come in time. MY suggestion would be to apply for scheduling positions at various shops. Your trading experience is all for nothing if you don't know how the pipelines work. Just my .02

[Jerms]

I will advise that the BP New Grad Program is extremely beneficial especially if you want to head in that path of trading crude, gas or power down the road.

Yes, it's a 3 year program but the experience you'll gain going through the analytics group, scheduling, product control, book runner etc will make you a well rounded individual in terms of learning the whole business. I highly advise if you're given the opportunity.

[Super_Geo]

I would also be very careful how you word this:

Originally posted by themack89
Familiar with VBA for algorithmic trading

VBA is useful for automating positions and risk reports, analytics, etc. Algos are not programmed in VBA.

Chances are the trader reviewing your resume will throw it to an algo trader to look over, and they will scoff at that line. I would reword to:

- Experiened with VBA.
- Familiar with algorithmic trading strategies.

If you want, you can send me your resume and I'll take a look for you. PM me for my work email address.

[M.alex]

Originally posted by Super_Geo
I would also be very careful how you word this:



VBA is useful for automating positions and risk reports, analytics, etc. Algos are not programmed in VBA.

Chances are the trader reviewing your resume will throw it to an algo trader to look over, and they will scoff at that line. I would reword to:

- Experiened with VBA.
- Familiar with algorithmic trading strategies.

If you want, you can send me your resume and I'll take a look for you. PM me for my work email address.

Just lie and say you know SQL, C++ and python

It would probably help though if you actually knew how to program in them though

If you were worth your salt at all from your play trading you would have been picked up and/or your "strong contacts" would have brought you in. Chances are you'll be starting at the bottom, leaning the business and then branching into it.

[themack89]

Haha I knew I would get a lot of flak after saying that

It wasn't just about the 3 year window, but also more or less that at BP I would more likely be lead down learning the Oil and Gas industry when I wish to start learning about the electricity industry (their power community is extremely small from what Ive learned). A term trader and another specialist suggested to me that I push hard to land a job in electricity or trading so I will have maximum amount of time learning exactly what gives me a boner and/or 3 years spent doing analytics is 3 years spent not getting trading experience.

I think it more comes down to what you believe is a better route, I guess I was suckered in to the view I just expressed rather than the views you guys are expressing, but who am I better off believing?

POINT TAKEN FOR THE VBA COMMENTS:
I will probably adjust this; what I meant was the platform I was using had a two-way system where I could use RTD in Excel and a command dictionary to write VBA and feed my logic back into the platform for executions

Since this is my first experience with VBA I am NOT familiar with the traditional uses of it, hence the way I worded it

[mgwatson]

Originally posted by themack89
A term trader and another specialist suggested to me that I push hard to land a job in electricity or trading so I will have maximum amount of time learning exactly what gives me a boner and/or 3 years spent doing analytics is 3 years spent not getting trading experience.

Trading power, as you surely know if 100000% different than trading crude. The only relevant experience that would transfer into phys crude trading would be the fact that you're used to the environment.

Doing analytics in the crude trading dept somewhere would expose you to all the different variables in crude trading that you otherwise not get in power trading (i.e., how the pipelines work, geog spreads, cracks etc.)

However, if you're going to pursue this power trading gig you might want to look at Balancing Pool.

[AndrewMZ3]

TransCanada is hiring RT

[themack89]

Thanks for the heads up Andrew.