Well March was come and gone and there was much learned and absorbed at TFG. March had its ups and downs but I kept my emotions in check and moved forward as a member of the firm. I continue to learn more everyday and I’m starting to get a better feel for the market and my names. My PNL in my individual account was flat as I avoided taking any major loses. I’m pleased with the way I kept my PNL in check, as kept my largest winning days equal to my larger losing days, which is a first since being a member of the firm.
My role has also changed at the firm, I have become an execution trader for one of our portfolio managers Dean Machado. It has been a great experience working with Dean and getting to see how one of the larger and longer term books works at a hedge fund. It has been interesting seeing how the books hedges (i.e. SPY’s or IWM’s) moves throughout the day with the market. If the hedge is traded effectively throughout the day it can have a major effect to the overall performance of the portfolio. I also had the opportunity to make some intra-day trades in Dean’s book and as I become more seasoned this is an area I can add some real value by generating alpha intra-day.
Moving into April I have to push myself and elevate my performance in order to earn my seat on the desk. This means I have to work everyday to provide better color then the day prior. I have to work with Moskowitz and find beneficial levels that Dean can use to either add to or lighten up his positions. I have to continue to learn the names in Dean’s book and get a feel for intra-day levels so I can generate alpha day in and day out. I also have to become more focused on finding ideas the firm can put to use, either abstractly or in the freshman traders technical pre-market session.
There is no time to relax at The Frommer Group as we push the business forward everyday. I am excited for the month of April and another opportunity to grow as a member of this firm.
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