Finding Work after Quitting Daytrading

Quote from smallStops:

Sorry, I did not want to lecture.
The pressure of trading is high enough, for me to more often than not discourage people with responsabilities, as when times are not good, the "responsabilities" can really add significant stress. Nothing more.

You have an economics/finance degree + experience of trading :
have you tried enquiring about risk management roles / trading coach / trader teaching position ?
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trading coach / trader teaching position ?

:confused:
 
Quote from Trader.Fighter:
trading coach / trader teaching position ?
:confused:
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Yes.
He has 10 years trading experience, so he can certainly
talk about what he knows about. :)
And as far as I can see, no teacher/coach in trading shows
their full audited trading statements. So he should not
worry about the trading results.
 
Quote from smallStops:

Yes.
He has 10 years trading experience, so he can certainly
talk about what he knows about. :)
And as far as I can see, no teacher/coach in trading shows
their full audited trading statements. So he should not
worry about the trading results.
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You basically suggesting he becomes a snake oil salesman?
 
I don't day trade.

Why do people still think that the only way to make money is day trading? There is plenty of ways to make money in the markets.
 
OP: I've found in interviews that mentioning trading is a real liability, unless you're casually mentioning that you might buy the company's stock where you intend to work!

Truck driving ain't a bad idea (lots of freedom, see the US which is fun for the first few times you cross it), plumbing or electrician work also pay pretty well, and you don't necessarily have to live in an expensive location to do either. You could learn to run earth moving equipment or some other skilled trade.

-degreed engineer, sick of office life in the factory
 
Quote from thesniper:

To surivive in the future you need to be: (1) a brainiac with strong technical skills (2) a business owner or a (3) a top 1% rent/dividend collector - everyone else will suffer.
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if you are really looking for a job outside trading (and not looking for some other validation or reason to keep trying) then you answered your own question if this is what your believe.

...get some technical skills - probably in an industry you like
....start a business - failure rates are high, strong work ethic is required - do it in something you like
....be a sales guy/rent collector - start somewhere even if you are doing it for someone else.

look beyond dead end jobs first

....write down your plan, where you want to be, what skills you currently have, how you are going to get there .....sound familiar?
 
what-color-is-your-parachute.jpg
 
Quote from thesniper:

1 There are no chronicles of great daytraders because there just is no skill there to build. There are lots of chronicles of great investors, money managers, and speculators. All the great investors/speculators and all the greatest trades are about finding vastly asymmetric risk/reward opportunities that RARELY present themselves. You need Huge Gains to grow an account and its just impossible to achieve if you close all positions at EOD.

2 The best way to not trade is to not watch the quote monitor. If you watch all day you will be compelled to trade all day. Your brain has a way of seeing patterns in randomness when its just randomness. Its best not to look at randomness if you want to maintain your sanity. Its better to write trade ideas, rank them, and then execute only the best.

3 A losing trade is 10x more emotionally devastating than a winning trade is pleasing. It doesn't matter how small the loss - losing is just devastating. As Mike Tyson said, "everyone has a plan until they get punched in the face". Losing is like getting punched in the face and the stress it triggers makes you stupid (lots of studies done on this).

4 Consistency is a fairy tale in trading. Trading opportunities come in Feast or Famine cycles. Since there is no regularity to trading opportunities there can be no consistency. But the bills are always consistently due each month so the lack of consistent income is stressful and I noted what stress makes you in #3.

5 The line between luck and skill is very clear in sports, art, science, and most endeavors. But in trading that line is very vague. On net John Paulson probably hasn't make a penny for investors yet he is a billionaire. (He lost more billions being long gold then he made being short sub prime). How much has Victor N. made net for investor's? Maybe zero, and yet he is the greatest speculator (I admire him greatly) who has mentored more billionaire HF managers than anyone.

6 I think most people that get into trading do so because (1) they are not making enough from their job or (2) they don't like their job. So they look to trading to fulfill the fantasy of being independent and wealthy. But its unwise to quit your day job unless you have millions saved up from working/trading then even in the worse case scenario you can live off interest and some principal.

7 I'm not a young man anymore. I now have a family and need to start thinking long term.
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definitely one of the smartest posts on ET I've read
 
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