There is no denying entering the financial markets in the mid 90’s was a very different place. You were able to ‘work your way up’. Adam arrived at just 17 years old without a clue which way was up. He worked for a Bund arbitrageur who was trading between the Frankfurt and London futures contracts. It was fast, it was chaos, it was a true baptism of fire.
Adam knew even back then if there were small inefficiencies in the Futures contracts there would be vast inefficiencies in the derivatives of these. He moved to a small but very active market-making firm called Hull Trading (owned by Blair Hull), to focus more on the options space within the LIFFE products. Adam continued his education at the London School of Economics at the same time.
After this intense and hugely rewarding period Adam took some time out to travel the world.
In late 2004 he set up a small market-making business pricing Options on Futures in the growing Crude Oil space on the IPE & NYMEX (Now ICE & CME). Adam simultaneously setup an tech company specialising in low-latency metro links which contributed to the success of the growing market making business. Adam sold this in 2010 to a large outsourcing company.
As more trading business moved away from the traditional trading floor to electronic methods Adam’s market-making business grew rapidly and his keen interest in the deep understanding of the markets microstructure, now a vast electronic plumbing network gave a good source of edge for many years. From 2015-2018 Adam conducted numerous pieces of short consultancy work with major banks and trading operations to help bring their model designs to life or discuss how to mitigate latency risk. Adam found this incredibly rewarding to see how other much larger operations functioned while adding some edge to their options models.
Over time the need for price modelling and insight for skew edge has diminished as people joined options pricing in a similar arms-race fashion as they did Futures. This took the shine away for Adam as the mathematical insight has moved back from the sell-side to the buy-side of the business. It was around this time Hugh and Adam joined forces to capture how they can use their insight from the sell-side and capture edge operating as a volatility fund.
Macrohedged was formed and had a phenomenal 1st year in 2019.
Adam lives in rural Yorkshire with his family, he enjoys being outside away from city life.
10 Week Elite 1:1 Programme
From surviving to thriving: re-framing your mindset.
Evolving - From per trade to portfolio thinking
Sessions one and two: Baseline.
- Finding your niche and defining your goals.
- Aligning personal goals to fiscal goals.
- Detailed planning.
- Defining your risk profile.
Sessions three and four: Getting your head straight.
- Mental preparation.
- Understanding what your personality is, learning to control the wrong behaviour and promote the right behaviour.
- The detail behind decisions - looking at how you are arriving at your decisions.
- Where are the gaps and closing them.
- Achieving more clarity and focus.
- From surviving to thriving: re-framing your mindset.
- Focus on the physical to be sharper and raise your energy levels to be a better trader.
- No shame, just focus and improvement.
Session Five: The Framework
- Time-frame management.
- Trading structure.
- Controlling your framework.
- Not letting the trading control you.
Sessions Six, Seven and Eight:
- Finding real edge - how, where, when, why and logistics to get it.
- Establishing your edge - optimal execution on your plan.
- Risk management - Your survival depends on this.
- Evolving - From per trade to portfolio thinking, the greatest leap.
Session Nine: Refining the plan
- Specific focus for reviewing what has been discovered.
- What you have changed.
- What has worked and what hasn’t and what to do about it.
- What do we change ahead of week 10?
- One last session for all the light-bulb moments and before you leave the program.
- This will be the most unstructured of the sessions, as it will form areas you probably didn’t know you needed to ask in week one.
- Scheduling a call for us to meet in week 20.