What math or programming knowledge is required? Please guide.
A Warning For Potential/New Traders
- Thread starter naifwonder
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The total sense of (near-field) freedom was definitely what always attracted me to trading.
Best risk-reward profession ... it definitely depends on what you see as rewards. Some see happiness as the ultimate reward, while others count money. One thing is for sure, it's hard to find happiness without any money at all in today's modern society. Others would gladly pay a lot for the brief sense of happiness - and many do. IMO long lasting happiness has more to do about harmony and peace in one's personal life though.
Best risk-reward profession ... it definitely depends on what you see as rewards. Some see happiness as the ultimate reward, while others count money. One thing is for sure, it's hard to find happiness without any money at all in today's modern society. Others would gladly pay a lot for the brief sense of happiness - and many do. IMO long lasting happiness has more to do about harmony and peace in one's personal life though.
Please someone answer my question.
I went along what must be the conventional route. Good schooling and a university degree was how I wanted to mark out myself for the starting line - to begin real life. Those that rush at something and do it regardless often are and will always be seen as all hat and no cattle.
Next I wanted to get into markets and I got into futures markets by taking a poorly paid traders clerk job. But this in my case produced quick progress through floor trader to CEO. Just working hard, problem solving in the corporate enviroment and being there every time to sieze opportunity for my progress. Now I had a professional corporate background and moved out into independent trading once electronic trading and software had reached a really sophisticated and reliable level.
I would argue that full schooling and university success is the foundation stone. Corporate and professional success in this business is the necessary prelude to your own independent riches made from trading.
Amateurs trying to make it in trading who have not been in the loop (the university, corporate, professional route) are at a huge disadvantage. That is why you see delusion and irrationaility exhibited all the time by newcomers and others at ET. Their approach and understanding has not been shaped by the relevant experience beforehand and even if a few do establish some consistency in making a so-called 'living' they remain stunted and unable to take themselves through into really big time success.
All that being so, can anyone make it big time in trading. My answer is 'Yes'. That just happens to be my view on life when looking at other people.
Next I wanted to get into markets and I got into futures markets by taking a poorly paid traders clerk job. But this in my case produced quick progress through floor trader to CEO. Just working hard, problem solving in the corporate enviroment and being there every time to sieze opportunity for my progress. Now I had a professional corporate background and moved out into independent trading once electronic trading and software had reached a really sophisticated and reliable level.
I would argue that full schooling and university success is the foundation stone. Corporate and professional success in this business is the necessary prelude to your own independent riches made from trading.
Amateurs trying to make it in trading who have not been in the loop (the university, corporate, professional route) are at a huge disadvantage. That is why you see delusion and irrationaility exhibited all the time by newcomers and others at ET. Their approach and understanding has not been shaped by the relevant experience beforehand and even if a few do establish some consistency in making a so-called 'living' they remain stunted and unable to take themselves through into really big time success.
All that being so, can anyone make it big time in trading. My answer is 'Yes'. That just happens to be my view on life when looking at other people.
Am I the only one who sees the inconsistencies between your two posts? You begin by noting how difficult trading is and how it would have been easier for you to pursue another career. Then, you advise that you have been trading for 3 years. Further, you will be graduating in 2010 instead of 2009, with the delay being attributed to your trading. Finally, it will be another 9 to 12 months before you will be making the "big bux" from trading because you are risk averse.
I agree that trading can be much harder to do successfully than it looks. But your posts seem to defy that view, despite the initial sentiment of your opening post. What other "career" can you commit three years to, delay academic graduation by only one year, and then go on to make the "big bux" in another year or so? That's your story, right? Am I missing something?
Frankly, trading anywhere near profitably came a lot harder to me. What you have described sounds like a breeze.
You need to get a grip
I did not pursue a lifelong career as an office stiff. I got to the top fairly rapidly in the business I joined and certainly enjoyed my success as a 'hands on' manager of it. But I moved on and out of corporate politics. However the corporate world remains a place where I am very comfortable.
What I wrote in my previous post in this thread was to demonstrate that each of us has the opportunity to get the advantages you want - a university education and corporate professional experience.
Nevertheless it is still up to anyone to repair their progress in life and in this particular business to apply yourself and learn to become a big success in market trading if it is within your capabilities.
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