Company is Banning Trading from Work?

Quote from jinxu:


Technically, I don't need the job but it helps pass the time and alleviate some of the pressure to make money for rent and bills. In response I'm now considering quitting as my job is during trading hours and I've missed some good moves due to the job too.
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If you are making enough money to support yourself only by trading, by all means quit. However, be absolutely sure that you CAN. Also, have about 1-2 years worth of funds w/o using any of the trading money. Prepare for the worst. Your trading money should not be used for "survival" money.

I wish I was good enough at trading to quit my job, but I'm not so I still try to manage both.
 
Quote from th3moneytrain:

Alot of people are attacking OPs behavior, but I can completely understand his perspective. Until you have worked for a corporation that doesn't care about you and makes blatant bad decisions (for business and employees) day after day, year after year, you will not understand where he is coming from.

It's not a matter of him wanting to screw the company or feeling entitled, but rather a indifference towards the company. Indifference doesn't happen over night unless you truly never cared about your work in the first place.

Corporations today, and probably for decades, have forgotten how to take care of their worker bees. Just look at the disconnect between CEO salary vs. employee salary/pay structure. Look at the diminishing pensions and health benefits. Look at the layoffs and salary cuts. Look at multiple tiers/armies of management hired "manage" hand full of worker bees. Look at the wringing of employees daily. Look at the "exploitation"/inconsideration of the employed created by excess unemployed work force.

Of course, this could all just be me projecting my experiences, but I have seen and experienced all of the above myself since my first career job starting in 2008. Whether contract bound or not, good employer/employee relationship is based on taking care of each other. Employer pays you to get certain work done and you agree to do it at a certain price. The certain price typically involves cost of living increase, vacation, on the job learning, etc. Not as an entitlement, but as a gesture of appreciation. Of course, if you don't want to "appreciate" your employees, the result is people like OP. It's not entitlement to want a little more money to adjust for higher cost of living, its not entitlement to want a few extra days of vacation to get your mind off work for an extra day or two, its not entitlement to want to grow and learn, its not entitlement to "expect" your employer to care about you... Being traders, we all know that at the end of the day the company wants higher profits, but at what costs are they going to do that? Usually for poorly run companies, it's at the cost of the employee.

Appreciating your employee is not a new trend...it is just a "human" want/need. It relates to pretty much any kind of relationship. Show enough neglect and the weeds will appear...
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This is just an excuse. Where is the limit of a company treating an employee well enough that he work during the time he agreed to.
 
Quote from th3moneytrain:

If you are making enough money to support yourself only by trading, by all means quit. However, be absolutely sure that you CAN. Also, have about 1-2 years worth of funds w/o using any of the trading money. Prepare for the worst. Your trading money should not be used for "survival" money.

I wish I was good enough at trading to quit my job, but I'm not so I still try to manage both.
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This is spot on advice.
 
Quote from jinxu:

You mean good jobs. I've seen the data. Most job created were minimum wage job. Most job lost were good paying jobs. There are more jobs according to the employment data but they are just shit jobs.

I'm sure that's the trend. In engineering which is my field, there's a 10 year lifespans before the company start laying you off and replacing you with younger cheaper workers. Everyone in my company is under 40. Which is alarming. Everyone also seem to be in denial.
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And min wage jobs are part time jobs as well. The data is skewed in comparison to pre financial crisis as a feel good factor. Jobs are not easy to come by these days especially if u r older.
 
I trade from a Samsung Galaxy Note 2 phone. I am looking into 7 in. Tablets with a data plan

However in your case you have no problem. Use a phone or access your account via the web and knock out 1 or 2 trades, secure with a trail stop, or stop, set your notification for mobile messaging and log off.

I could trade from my work computer but opt not too. I am extremely comfortable and profitable with my mobile app.

I just want to find a prop firm with a good mobile app.
 
Work your butt off and save 50K cash. In order to save 50k you have to find a way to live off your trades. Don't watch the stock, if it's losing short the stock, gaining buy. Trade only consistent movement or steep inclines or declines. If that symbol looks like an EKG strip in a hospital, buy larger volumes 10k or better, accept small gains or don't trade PERIOD.

50K will allow you to have $200K in a retail account like Etrade. Instead of getting paid weekly or bi-weekly you can get paid daily using an ATM. Reduce your monthly expenses by paying off some of your bills, like automotive & credit cards. Get your series 56 or 7 license and trade Prop. If your consistently profitable at some point you can QUIT YOUR JOB. Because you will now have 2 incomes. 1 from retail and another from Trading Prop.

Trading prop is equivalent to a 9-5, checks are issued bi-weekly.With a prop, set a reasonable earning goal like $2k biweekly. This goal should be based off your cash in the account and leverage on hand. The more leverage, the higher your goal within REASON! After you have reached your financial goal, request a check and cease all trading, until after your check arrives. While your waiting on your prop check, continue trading with your retail account.

I like to hedge my account to cover any losses being executed by the other account. If you can Hedge and break even your still on top.
However most importantly before jumping into any questionable trades, test the water with Paper money. If successful mimic with real money.

In summary, save your money drop $50k in retail even though they require $25K to bypass PDT rule. The other additional $25K is cushion which allows you to purchase better stocks for guaranteed small gains.

Eg. Apple (AAPL) moves $2 or more dollar a day. With 392 shares and a momentum (selling or buying) of .75 cents you will earn $294 daily. The stock may move $8 dollars for the day, don't let that concern you. Once your daily goal has been reached be happy. Im not stupid either, as long as the momentum is working in my favor and my trail stop permits, I will enjoy the ride. However once it moves against me and kicks me out IM DONE! Shut down the computer and walk away JOSE !! The same strategy can be done with Amazon for even bigger gains. So it is possible to earn $1K weekly, which is fairly reasonable using the aforementioned strategy. Some may argue its not a lot of money in a week. However consistent traders are the ones that last in this business not profitable. $52k a year is not bad for self employment from 1 ACCOUNT.

Go watch the Wolf of Wall Street Awesome Movie.
 
Quote from mastacoli71:

This is spot on advice.
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How many professional brokers do you know that hold a part time or full time job outside of trading?

Professional licensed brokers. A professional broker with a Series 7 or 56 using his own money needs about $20K to have .5 million dollars ($500,000) in buying power!

If you need a full time job in addition to the preceding, your too stupid to trade.
 
Quote from jb3398:

How many professional brokers do you know that hold a part time or full time job outside of trading?

Professional licensed brokers. A professional broker with a Series 7 or 56 using his own money needs about $20K to have .5 million dollars ($500,000) in buying power!

If you need a full time job in addition to the preceding, your too stupid to trade.
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Can you explain a little more regarding prop trading? Doesn't some firm have to hire you at their firm to do that? Or, can you just have the license and work for yourself and call yourself a firm? Thanks.
 
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