Hahaha.. That's awesome
Advice - I want to Day Trade / Career
- Thread starter Philosophicide
- Start date
philosophicide is sophicide a subconscious misspelling of suicide?I am looking for some advice from others from have been down this road already. Should I stick to a University Bcom. or attend a Day-Trading School? (Part of me says Bcom. and studying stocks part time, the other half of me says do this full force with 100% focus.)
And are there any really good/solid resources you could recommend to me? (I see a lot of "chat rooms" and "courses" and sites, and it's hard to differentiate between what is sketchy and what is trustworthy.)
[A bit about me]:
I'm 22 and a second year accounting student, however I've decided accounting is not quite for me. Now I am debating whether I should stick to my undergraduate Bcom., but maybe switch from Accounting to Finance? Or if I would be better off finding a "good" traders school and doing a course on day-trading there?
I've always been a "numbers guy", so I was a bit stoned-walled when I was realize accounting wasn't for me (I thought it was the right career choice in h.s.). I've done other entrepreneurial ventures in my teens, some failed, some successful, but I've always had an interested in the 'stock market'.
[What I've currently been doing]:
Since I do not have a huge capital to work with, I was considering starting out in Penny Stocks. I've been watching a lot of youtube videos (Tim Grittani, Tim Sykes, Ricky Guiterrez, Adam Khoo). Watching Dvds, Tim Sykes Dvds (Penny Stocking + P.S. Part Deux, 6+ Hours). And Books, Japanese Candlesticking, Technical Analysis of Financial Markets, Pring Investing Psychology Explained, An American Hedge Fund. Since I've started studying these sources, I am like so addicted to learning more about it.
I do not plan to use any real money until I have had some success paper trading.
Thanks!
To be honest, this is a generic number that's tossed around frequently. I'd estimate the long-term success rate for an independent daytrader is less than 1%
I've never heard of "University Bcom", "York", "Schulich", or "day-trading schools", either. OP, where are you that you've never heard that trading penny stocks is a bad idea? This is so dirty that discussing penny stocks is not even allowed at these forums.
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Does not matter if it is 1% , or whatever number : what matters is you.
It matters if you're considering daytrading in lieu of college like OP. It doesn't matter if you're a 65 year old male collecting a railroad pension check, piggybacked with a SS check.
I am looking for some advice from others from have been down this road already. Should I stick to a University Bcom. or attend a Day-Trading School? (Part of me says Bcom. and studying stocks part time, the other half of me says do this full force with 100% focus.)
And are there any really good/solid resources you could recommend to me? (I see a lot of "chat rooms" and "courses" and sites, and it's hard to differentiate between what is sketchy and what is trustworthy.)
[A bit about me]:
I'm 22 and a second year accounting student, however I've decided accounting is not quite for me. Now I am debating whether I should stick to my undergraduate Bcom., but maybe switch from Accounting to Finance? Or if I would be better off finding a "good" traders school and doing a course on day-trading there?
I've always been a "numbers guy", so I was a bit stoned-walled when I was realize accounting wasn't for me (I thought it was the right career choice in h.s.). I've done other entrepreneurial ventures in my teens, some failed, some successful, but I've always had an interested in the 'stock market'.
[What I've currently been doing]:
Since I do not have a huge capital to work with, I was considering starting out in Penny Stocks. I've been watching a lot of youtube videos (Tim Grittani, Tim Sykes, Ricky Guiterrez, Adam Khoo). Watching Dvds, Tim Sykes Dvds (Penny Stocking + P.S. Part Deux, 6+ Hours). And Books, Japanese Candlesticking, Technical Analysis of Financial Markets, Pring Investing Psychology Explained, An American Hedge Fund. Since I've started studying these sources, I am like so addicted to learning more about it.
I do not plan to use any real money until I have had some success paper trading.
Thanks!
1) Finish school or transfer to a university that also has trading rooms for business students
2) Stay away from penny stocks
3) Save your money for your starting capital
4) Do internships at a financial institution that has trading floors
Hopefully, with a degree, internships, some job experience and money saved...you can then get started as a trader if there's no conflict with your job.
Good luck
I'm not exactly your typical student... maybe I've spent way to much time listening to and being influenced by people like Dan Pena, Tai Lopez, Mj Demarco, Jay-Z, Sean Combs, Dame Dash, Malcolm Gladwell, Rhonda Byrne, so on and so forth.
I have family that are doctors, and lawyers, and others who don't have a degree who make $100k+ per year on their own. (And I might get some hate for the following but...) I don't think the typical, go to school, get a job, work 9 to 5 and hopefully save enough to invest is the best way to live life. That's Not me saying don't work (or a degree is useless), at some point you need a job to support yourself, but I feel at some point you need to take that step and actually Do something.
I do intend to complete my degree, just because an undergraduate is like the bare minimum in education these days, but I may switch streams from Accounting to Finance or Management.
Comagnum - I thought that would be implied, being an inconsistent day-trader won't last long I reckon. I know it's extremely simple and extremely complicated (I can teach you how to play soccer, simple, but what if I throw you in the field with Ronaldo?, complicated.)
And I'm basically more or less applying swing trading to the low cost and high volatility of penny stocks. Maybe I don't go penny stocks and end up going regular, mid-cap stocks, like warrior trading does? Either way I will be through testing out a system paper trading first. (On a side note, Is Warrior Trading legit, or is that just another "system to sell online"? Just curious.)
Just21 - On A SINGLE trade? :O haha.. what happened to small consistent gains over time?
Zdreg - no, I know how to spell that and have seen a few to many great people lose their lives. It's a play on words, and the philosopher was not available (a few people I know call me that lol) so it's sort of like being addicted to philosophy, but also the crave to learn with an open mind.
Wrbtrader - I respect that answer and agree with everything except the one point which is not numbered; Why wait so long to start trading? Why not start with $1 to 2k now, if you lose it you can make it back again? (not saying that is my total cap.) And *hopefully* you learn a hole bunch while you do it, or that would be a big waste. And if it works out (because you studied hard prior and just because it worked out) all the better.
I have family that are doctors, and lawyers, and others who don't have a degree who make $100k+ per year on their own. (And I might get some hate for the following but...) I don't think the typical, go to school, get a job, work 9 to 5 and hopefully save enough to invest is the best way to live life. That's Not me saying don't work (or a degree is useless), at some point you need a job to support yourself, but I feel at some point you need to take that step and actually Do something.
I do intend to complete my degree, just because an undergraduate is like the bare minimum in education these days, but I may switch streams from Accounting to Finance or Management.
Comagnum - I thought that would be implied, being an inconsistent day-trader won't last long I reckon. I know it's extremely simple and extremely complicated (I can teach you how to play soccer, simple, but what if I throw you in the field with Ronaldo?, complicated.)
And I'm basically more or less applying swing trading to the low cost and high volatility of penny stocks. Maybe I don't go penny stocks and end up going regular, mid-cap stocks, like warrior trading does? Either way I will be through testing out a system paper trading first. (On a side note, Is Warrior Trading legit, or is that just another "system to sell online"? Just curious.)
Just21 - On A SINGLE trade? :O haha.. what happened to small consistent gains over time?
Zdreg - no, I know how to spell that and have seen a few to many great people lose their lives. It's a play on words, and the philosopher was not available (a few people I know call me that lol) so it's sort of like being addicted to philosophy, but also the crave to learn with an open mind.
Wrbtrader - I respect that answer and agree with everything except the one point which is not numbered; Why wait so long to start trading? Why not start with $1 to 2k now, if you lose it you can make it back again? (not saying that is my total cap.) And *hopefully* you learn a hole bunch while you do it, or that would be a big waste. And if it works out (because you studied hard prior and just because it worked out) all the better.