The exact structure of a normal day will depend on the nature of the product being traded, its importance to the company and the size and nature of the company's business.
On arrival in the office, traders should already be aware of overnight news and what implications they may have for their existing positions.
The day formally starts with the morning meeting.
The precise nature of the topics discussed will vary, but probably include central bank news and rate expectations, the economic data release schedule, company results and announcements.
New issues which are more important in fixed income markets, market intelligence, and an assessment of client risk, appetite, and current positioning.
The schedule of the day will then depend on how many economic data points are released and the number of company results, announcements, and new issues, and what news events occur.
The activity level will be affected by how many prices the trader needs to make.
An effective sales team and volatile market conditions will make for a busier day at all times.
The trader will need to monitor the positions in great detail, ensuring compliance with all risk limits, and to follow closely the intraday profit and loss.
At the end of the day, the trader will need to ensure that he or she is comfortable to go home with the current risk position, and that the trading book complies with the risk limit set so that no rules are infringed, formal and independent p and l is then calculated.
A trading day is a long one with traders on the sell side at their desks by 7:00 AM a finish by 6:00 PM is a short day.
