I am really in need of Some Advice...

Quote from Nelson1980:



Plus, I defintely have to move to a New City. And I am in NC now and I am thinking of moving to a west coast city. Because, after I get a little bit experiecne in trading, I could also start working an afternoon/part-time job.

please please give me some feedback on my thinking...
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West Coast is worst for trading unless you are an very early bird - the market opens at 6 AM here - for me it is a distinct disadvantage - in fact we are gonna move to Florida soon for the sunshine and EST.

Just try and get in a pre-market move at 4:30 am... my eyes aren't even open till 9 am my time - hey, no wonder I struggle :( :confused: :eek:

Definitely move east.


Paul (a Seattle trader)
 
Quote from Nelson1980:

Sorry. I am an early bird. :D

well, lets just say I don't need much sleep. :cool:
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That will change after you get you clock cleaned for you by traders that have been up for a couple hours and are way more informed and awake because they have a 3 hour head start on the news/sentiment.

I can tell you are young and dumb to think that it will last that you don't need much sleep. Wait until you are over 25.

Good luck
 
Nelson,

Don't know what part of NC you're in, but Bright Trading has an office in Norfolk. Maybe you could check it out. It would be a whole lot cheaper than living in NY.
 
Quote from slapshot:





West Coast is worst for trading unless you are an very early bird - the market opens at 6 AM here - for me it is a distinct disadvantage - in fact we are gonna move to Florida soon for the sunshine and EST.
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You are so right about it. I am even considering moving to Europe because of that. I almost never fall asleep before 1 AM and have to get up before 6:30 AM. It really sucks!
 
Quote from Arnie:

Nelson,

Don't know what part of NC you're in, but Bright Trading has an office in Norfolk. Maybe you could check it out. It would be a whole lot cheaper than living in NY.
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Thats sounds real good. I def. will be checking it out. I am in the Triangle (Ral-Dur-Chapel Hill) and I don't think it is that long of a commute.

I was either thinking about taking myself either to,

NY (big city in east coast) or LA (big city in west coast) or Atlanta.

But something close and cheap sounds real good. :)
 
Quote from Nelson1980:

Should I try to find and sign a deal at a Prop Firm or
Should I work some odd jobs for an year and get some capital ?(~$30,000)

Can I Please Please here the Pros and Cons of each?

I am really thinking of working for a year and getting me some money and then going at it my own. But, would my training that I receive or get would be inferior if it was the other way around?

And is it really worth it to tie yourself down to a firm for app. 3 years. Plus, since I will be going at it myself and using my money, I am thinking I will be more careful and therefore, I will be able to learn more.

Any replies greatly appreciated.
thanks....
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With every loss is a lesson.Most established traders don't train anymore because of loyalty(unless they own firm or make on commish).I would say trade prop but there is a learning curve(few months) so it will take time.But it all depends on your $ situation!Plus market has been very tough(grinders market).Think it over but do your homework first before you make your decision!
 
2 more questions.

1. Would the Bright Trading's Norfolk office or for that matter, any office at a smaller city when compared to NY, LA, Miami etc be smaller and lacking in training materials?

2. How would I go about establishing a Track Record to make it easier for a firm to hire me? (I looked around some websites, and they all ask for some kind of track record if I have any.)
 
Quote from TM_Direct:

[
What am I missing here??
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....your long lost son, TM_DIRECT...DAD!!!! I LOVE YOU MAN!!:D :D [/B][/QUOTE]

lol...

it was a fun series here.....

If i were looking to relocate for trading purposes (away from Tucson where trading is a half day deal), I would pick Singapore.

I did the Swiss thing (Zurich suburb) which is fun and Grennwich Conn etc... now the palms and snow capped peaks are fun and I can hop to LA and fly anywhere from there.

Does anybody make any money on the prop thing? It seems so dumb and limiting but I am very ignorant too ..
 
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