You can always try and get a job with a stock securities broker. Although, there may be less people being hired with more and more automation being resorted to by the brokers. If you were a good trader, you probably, will be hired by brokerage firms but, if you are, why would you work for someone else? Get a job somewhere else and trade part time. That way, you can see if stock trading is for you. If not, you still have your job to pay your bills.
About to graduate, what should I do?
- Thread starter Amatrue
- Start date
You can always try and get a job with a stock securities broker. Although, there may be less people being hired with more and more automation being resorted to by the brokers. If you were a good trader, you probably, will be hired by brokerage firms but, if you are, why would you work for someone else? Get a job somewhere else and trade part time. That way, you can see if stock trading is for you. If not, you still have your job to pay your bills.
If you go to work for a bank of hedge fund you will be restricted in your personal trading activities (even if you are in back office or IT support).
If I were you, I would find work in an industry that does not restrict personal trading. Then you develop your investment system and put some money into it every time you get a paycheck. Starting out early, doing regular contributions and compounding can lead to very interesting results by the time you are 40.
For example, if you invested $100 per week and your system has a long term annualized performance of 20% per annum, your balance will grow to about $1.4M in 20 years.
Or if you invested $500 per week and your system has a long term annualized performance of 15% per annum, your balance will grow to about $3.3M in 20 years.
Or if you wanted to be aggressive and had the stomach to endure high volatility and you invested $500 per week and your system has a long term annualized performance of 35% per annum, your balance will grow to about $80M in 20 years.
The trick here is to recognize there will be losing years or even strings of losing years but it is possible to realize the average annualized return over the long term (eg 20 years).
That sure beats being a stressed out+burnt out bank or hedge fund employee who likely will never achieve that kind of wealth.
If I were you, I would find work in an industry that does not restrict personal trading. Then you develop your investment system and put some money into it every time you get a paycheck. Starting out early, doing regular contributions and compounding can lead to very interesting results by the time you are 40.
For example, if you invested $100 per week and your system has a long term annualized performance of 20% per annum, your balance will grow to about $1.4M in 20 years.
Or if you invested $500 per week and your system has a long term annualized performance of 15% per annum, your balance will grow to about $3.3M in 20 years.
Or if you wanted to be aggressive and had the stomach to endure high volatility and you invested $500 per week and your system has a long term annualized performance of 35% per annum, your balance will grow to about $80M in 20 years.
The trick here is to recognize there will be losing years or even strings of losing years but it is possible to realize the average annualized return over the long term (eg 20 years).
That sure beats being a stressed out+burnt out bank or hedge fund employee who likely will never achieve that kind of wealth.
True.
Well I hate to disagree, but it is much more likely that you will get to a 7 or 8 figure net worth as a well paid employee in the finance sector, even if you forced to invest conservatively through PA trading. Working in finance you are also being paid to learn the kind of stuff a retail trader has to learn for themselves. And if you really do have superior trading skill then you can't really amass a stake sufficient to live off (without taking insane risks) without working in a highly paid career; one which will almost certainly involve a certain amount of stress.
I know lots of rich people (including myself) who got rich through working in highly paid jobs (and yes, like me they may have got richer subsequently through trading or investing, but their stake came from a job). I know some rich people who got rich through starting their own business. I don't know a single rich person who got that way through putting $100 into a trading account every month for 20 years whilst working as an assistant manager at McDonalds or whatever.
GAT
Sure, IF you have a strategy that generates on average 35% per year. 
Anything above 20% p.a. with very conservative risk metrics is above my pay grade when it comes to non hft trading/investing.
Anything above 20% p.a. with very conservative risk metrics is above my pay grade when it comes to non hft trading/investing.
Agree. Most of what I learned to do, but more importantly learned not to do came from my skills acquired on the job as trader. Can't beat the high income plus accumulation of trading related skills at the same time in any other industry if the long term goal is to trade/invest independently.
Sure, IF you have a strategy that generates on average 35% per year.
Anything above 20% p.a. with very conservative risk metrics is above my pay grade when it comes to non hft trading/investing.
C'mon its not that hard to find a system that does above 30% per year if, as I said, you are willing to stomach high volatility, meaning low sharpe. You can do it with simplistic moving average systems trading levered indexes.
A regular guy investing small amounts every week does not even know what sharpe is. As long as he has conviction in his strategy he should be able to ride out negative years. We are not talking about managing OPM here.
the higher the volatility (lower the sharpe) the higher likelihood of a permanent impairment of capital.
Ha, of course. Your risk of ruin also increases exponentially. What's the point. Anyone can design such strategy. Place all your account balance on a single otm call or put. Wow.
[QUOTE="globalarbtrader, post: 5374566, m
I don't know a single rich person who got that way through putting $100 into a trading account every month for 20 years whilst working as an assistant manager at McDonalds or whatever.
GAT[/QUOTE]
%%
Same here /but actually HE SAID $ 100 per week..................................................................
I dont want to drive a school bus' for 20 years but a school bus driver put his kids thru school /cash + made the millionaire , by study of stocks s, he didnt do the only lazy part time driver like some.............................................[Source Millionaire Mind, by Dr Stanley]
NOT sure how realistic his 35% /80 million in 20 years is??
I don't know a single rich person who got that way through putting $100 into a trading account every month for 20 years whilst working as an assistant manager at McDonalds or whatever.
GAT[/QUOTE]
%%
Same here /but actually HE SAID $ 100 per week..................................................................
I dont want to drive a school bus' for 20 years but a school bus driver put his kids thru school /cash + made the millionaire , by study of stocks s, he didnt do the only lazy part time driver like some.............................................[Source Millionaire Mind, by Dr Stanley]
NOT sure how realistic his 35% /80 million in 20 years is??