How to become a stock trader?
- Thread starter Justin534
- Start date
I stumbled upon this thread on the newbie faq board and its the same question I was thinking about asking.
I'm actually in the same boat, I'm a econ major with a minor in finance.
You might as well get in education, its always something to fall back on. Like other people have said on here, you can get a job at a financial institiution while you trade on the side. Who knows? You might be able to quit your day job after 5-10 years and sit nice!:eek:
I'm actually in the same boat, I'm a econ major with a minor in finance.
You might as well get in education, its always something to fall back on. Like other people have said on here, you can get a job at a financial institiution while you trade on the side. Who knows? You might be able to quit your day job after 5-10 years and sit nice!:eek:
Yep, losing real cash will get you sharp or very broke. Also finding out your broker is only interested in 'churning' your account!
First day's trading in futures (yeah, I'm new too) cost me $42,600 in commissions and 'fees'.
240 half-assed positions that universally bombed out, finishing off the other $38,000.
Now have reparations action filed with NFA.
First day's trading in futures (yeah, I'm new too) cost me $42,600 in commissions and 'fees'.
240 half-assed positions that universally bombed out, finishing off the other $38,000.Now have reparations action filed with NFA.
I'll assume at 22 you don't have much money for a trading account.
Here's a 10 yr. plan. I know, it seems like a long time @ 22 yrs. old, but it goes by fast.
1) Go to college and study something you find interesting.
2) Meet as many girls and have as good a time as you possibly can, while maintaining good grades. These years will be some of the BEST years of your life. Remember, you're already 22. Get started NOW.
3) Get a job in a field that you'd enjoy.
4) During these working years save as much money as you possibly can while still balancing it with playtime.
5) As these years go by, you should be reading about trading as often as possible and have a cheap source of data and charts to use in your spare time. You'll determine during these years what kind of trader you want to be, and you'll probably change your mind a few times.
6) Once you feel confident with your knowledge, trade with very, very small size during vacations or whenever you get time to see if you're suited for this type of work. Many aren't.
7) This last step will be the toughest, because you'll have to figure out a way to trade fulltime without burning bridges to fulltime employment in case trading doesn't work out.
Good Luck
Here's a 10 yr. plan. I know, it seems like a long time @ 22 yrs. old, but it goes by fast.
1) Go to college and study something you find interesting.
2) Meet as many girls and have as good a time as you possibly can, while maintaining good grades. These years will be some of the BEST years of your life. Remember, you're already 22. Get started NOW.
3) Get a job in a field that you'd enjoy.
4) During these working years save as much money as you possibly can while still balancing it with playtime.
5) As these years go by, you should be reading about trading as often as possible and have a cheap source of data and charts to use in your spare time. You'll determine during these years what kind of trader you want to be, and you'll probably change your mind a few times.
6) Once you feel confident with your knowledge, trade with very, very small size during vacations or whenever you get time to see if you're suited for this type of work. Many aren't.
7) This last step will be the toughest, because you'll have to figure out a way to trade fulltime without burning bridges to fulltime employment in case trading doesn't work out.
Good Luck
I wanna know more.......may you tell me?
I'm a finance graduate. And I also had some related knowledge about financial engineering......Yet my programming skills only stay at my high school level because my professors don't teach me about it.
So if I wanna enter into a master degree in (quantitative) finance, is it really a necessity to master C++ or Matlab or etc first? I have confidence in my econometrics knowledge, and some concepts on stochastic calculus. But is it not enough? If yes, what do I have to pursue more?
Thanks !
