17 year old Beginner

Quote from Mecro:

Yeah uhm, that's what I thought when I got my Finance degree while missing the biggest bullmarket ever. I really made the right choice missing out on making easy millions to get a near worthless degree into a dead job market.

A Bachelor's is worth nothing nowdays and a Master's is going in the same direction. If you want to trade then learn about trading and make the sacrifices. College will teach you NOTHING about the financial markets. If anything, you will only get a bunch of bullshit theoretical ideas in your head.

I look back now at the decision I made to have a "back-up" and I kick myself in the ass.
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like i said... BA in anything is a bullshit degree, except you're going premed & become a MD.

i was sitting at a universiy library listening to bunch of dumb finance kids talking about if profit goes down, shareholders would become dissatisified & vote out the management. i was laughing my as* off, that was right after the time when the institution holders obstained from voting during their shareholder meeting a few month ago.

anyway...

emphsis in engineering is the only think you can have to keep you brains sharp. taking short cuts like finance, sociology, gets you nowhere.

the vicious cycle continues. you wait tables as a part time jobs in college & u still going to end up waiting tables after.

NO ONE DESERVES ANYTHING!!! YOU ONLY CAN WORK FOR IT!!!

im not going to be a coding monkey forever, its just to get me some experience & get an MBA within the next few years.
 
Quote from iLLywiLLy:

I understand your suggestion about a sound backup plan, and i have one (Cisco CCNA in a few months), but I believe it introduces the notion of failing into the mind of oneself from the very beginning. Not to sound monotonous of this board, but I believe I will make it to be that 1% of traders. Why not put ones whole heart into something, accepting nothing other that success? And yes, easier said than done when 99% of traders ultimately fail while they feel the same as i do. I just don't believe in stressing a fallback plan so dearly. It imposes mental restrictions, if you will. Just a thought :)

Everyone else, I thank you for your time and hospitality in offering advice.

William
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HAHAHAHAHAH
not to discourage you too much here.. i've thought about getting a Cisco certs. it was too expensive when i was 17-18 (year 2001)... i am closer to 21 now.


i got my MCSE 2000 the summer before i got to my school. i call it the way out, in college, just to get a part time job or something. it helped me got a tech support job during the following summer.

it also helped me got a job on campus a year later as a tech support personel. but my pay was never over $12/hr

certification helps, as far as interview goes, if they see you have soemthing like that, they can assume that you know something.

so dont put too much expectations out when you have a cert like that, it will get you into a door, but it wont get you too far... a real education will ultimately differenciate between you and the person next to you.
 
Quote from Mecro:

You will get your ass handed to you.
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here here!


every kids dream is to make quick money

THE MARKET will be the ultimate teacher in this case.


it will KICK YOUR A$$ more often than your parents ever will
 
Quote from iLLywiLLy:

When I get my CCNA, I will be able to pull in $25-40K minimum part-time. Keep in mind I will be 18 and living in a dorm. Not very many expenses there and college will be covered by parents. :p So 2-4 years, I'll have $50Kish. As I build up capital, hopefully I will also be growing as a trader. Thanks for bringing up a good point. As for now, I'm just trying to learn what I can and experience the whole 'thing'.

William
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hehe... i didnt see this post...

dream on!!!


25-40k part time if you find something in the first place
 
The key is the mentor, when i was 20 years old i began trading in college and have never gotten a job.
But one of my friends fathers was making a great deal of money trading the markets and he taught me enough to get my capital built up at the end of 1999.
And believe me he taught me well enough to survive trading almost my whole career in a bear market at a time where no one knew how to short.
I've read probably 50 trading books, only a hand full of nuggets were gained from all of them combined.
Find someone who still has passion for the markets and is making a good living at it. That person will probably help you for free and will be your key to success if your anything like me.
Also everyone talks about a back up plan but you will notice most people become great successes in their field when it becomes their only choice, not just something if it works great, if it doesn't thats fine to.
Now i'm not saying don't go to college because i have my education, even though it cost me tons of money finishing up. But this market is not the same as the end of 1999.
So dream on and don't let people on these boards tell you can't do it and to look for a job managing others money. If this is what you want to do, go for it, i did, and i still love getting out of bed each morning to do this after 5 years.

pierson
 
Quote from axeman:

1) Learn to program.
2) Learn to program.
3) Learn to program.
4) Model every idea you come up with.
If you cant at least get it to break even mechanically, dont trade it.
5) Ignore 99% of the bullshit in books and on this site.
6) Learn to spot the bullshit :D


peace

axeman
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well said!
 
If you are really serious about trading, try and get onto the floor at the board or the merc - offer your services for free, just be a runner/intern, call it what you will. You will never get a better chance to see just about every aspect of trading. From then on you will know if trading is for you, because if it's in your blood, you'll never escape it.


The advice to model your idea's is bang on. Try to get a trial of CQG, and learn how to use it well. Learn to understand how indicators are constructed, and look at the story they tell with the story the price action is telling you.

I would suggest your reading list will feel heavy if you do not intersperse it with some hands on stuff.

Good luck
 
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