Quote from Hydroblunt:
Yes that's life, 90% will just be average joe shmoes or total losers. The simple fact that you or I or anyone else got a degree does not separate you from that group. It takes more than that to separate oneself from the sheep.
That's the industry. It is a very shady and dirty one. Guess what, brokerage industry is no different. Neither is I-banking. Upgrades/downgrades, hahaha. Top tier analyst pumping stocks at the height of bubble is no different.
Ok this is just wrong, I do not bash, I just tell it without any sugar coating. It aint go go 90s with lavish lunch breaks, pool tables and beer Fridays. The reality is that there are way too many undergrads out there and not enough jobs. As for sales desks, when I started there were 3 laid off institutional traders and later on I met an ex GS MM and some more "real job" traders who were either laid off or replaced by a black box. Sorry, that's just life, there is no corporate security, they will kick your ass out without a problem.
Well it's quite obvious you were around some seriously pathetic people. In my office there are at least 3 people that make a very consistent 100k+ a year. They come in at 9:30, leave at 4pm, period. They come to make money everyday, that is their goal. There are also a few guys that make serious dough and while they swing, the end result is smth extraordinary. Dead-end? Yeah whatever, as if being a corporate monkey for someone else, working sh*t hours, kissing a$$, dealing with office politics is sooo glamourous. Why don't you preach some corporate job security myth while you're at it.
Dude, ur like the bottom of the spectrum of the traders that have been around for 8 years. Seriously, you have such a negative outlook on it that you make my negativity on a bad trading day look like a dance of joy. Why are you even still doing it then? I mean really it sounds like whatever you do, you will be unhappy. The guys that I know who have been around for 8 years or even less but are quite well established are living a dream career/life.
It's not a dream job, but quite close if you get the addiction for the game. The freedom cannot be denied, the potential cannot be denied either. It goes past trading NYSE or Nasdaq, trading is speculation and while some may only be good at a gimmick in a certain market, there are also some that simply have IT.
The reply is that you have a very twisted view on day trading. I think it's best that you work on understanding speculation and its history before you start bashing trading. What you experienced with dumbos making easy money and then blowing out is the reality of life. The same happened to the IT industry, so what's your point?
Some people are meant to speculate and most are not. The one thing that my father told me when I was about to join my first prop is that I had to make a decision. I should either choose to not take risk and become a corporate monkey with possible future advancement at the expense of working for someone else and dealing with a lot of crap or I should choose to be a risk taker and trade for myself and risk becoming absolutely nothing. But if I wanted that reward, the big dream, I had to take the risk.
