Important Decisions

R

RunTrade

I have not posted here in quite some time due to the fact that I have spent that time more dedicated towards other university related activities.

Now that I have graduated:) , I basically need to decide where I will start my career. I graduated with a degree in Finance, minors in econ and IT. I have always had a passion in the markets and yada yada blah blah (the usual newbie looking enthusiasm). However, I did spend a ton of time learning and even experiencing the markets.


So here's the decision that I would like to hear your advise...

I am 95% certain that I will attempt some form of active trading as a primary source of income sometime in my life. So do I; a) get an enjoyable job and build my life around that for several years, then after saving cap. make a move towards trading OR b) join a prop firm now and see if doing what I'm most passionate about pans out. However, I am very underfunded right out of college so I may get stuck on a poor deal or be forced to take a signifigant loan.



I appreciate anyone's response although I would love to hear from a few people that I have come to respect from several years ago. Also, I would appreciate if you leave any prop firm biases out of your response as that is a different topic altogether.


~RT
 
The fake tudor is right. By the way, just threw him on the ignore list too. How could the fake tudor not join the list?

"Get an enjoyable job and build my life around that for several years, then after saving cap. make a move towards trading."

I say just stick with the enjoyable job and then trade on the side. There are some people I know of who make good money at prop (hundreds of thousands), but then there are those that dont make dime one(lose their ENTIRE deposit).

Just stick with the job.
 
It's a lot easier to undertake risky ventures when you're young and don't have major financial responsibilities, family, etc. There's always time for a regular job later.
 
If you went to a good school why not apply for jobs as an analysts or whatnot at Merril, Bear Sterns, Wachovia...a small hedge fund..anything. It would get your foot in the door.

Brandon
 
Quote from JangoFolly:

It's a lot easier to undertake risky ventures when you're young and don't have major financial responsibilities, family, etc. There's always time for a regular job later.
More...



I agree with this as one of my main arguements for starting now. And on top of that, if I am successful (enough to make a living) I would be doing the thing I love most several years earlier.

Please don't make any assumptions in your response that I am a complete novice who thinks anyone can make it. While I am far far from an expert, my somewhat lengthy poker career has taught me how to handle the mental and emotional aspects of a game where instantaneous results do not go hand and hand with making the right decisions.
 
Quote from michaelscott:

I say just stick with the enjoyable job and then trade on the side. There are some people I know of who make good money at prop (hundreds of thousands), but then there are those that dont make dime one(lose their ENTIRE deposit).

Just stick with the job.
More...


I understand this POV, but I am coming into this full aware of the risks. I just can't determine the appropriate reward/risk between taking a loan out now and potentially damaging career potentials (if being a trader is not a good resume enchancer) and scraping up enough savings in 3-5 years to make an attempt with the assumption of having a family to support (or at least more expenses)
 
I will pose this one scenario. Who do you think will be wealthier in ten years?

Lets say you have two 22 year olds...one 22 year old finds a job. This 22 year old's financial plan is to buy ishares using mid-large value oriented ETFs during each years "swoon". Specifically, the DVY and the JKI.

Then you have the other 22 year old whose plan is to daytrade and proptrade.
 
Quote from michaelscott:

Then you have the other 22 year old whose plan is to daytrade and proptrade.
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Only if our daytrader 22 year old didn't ask a message board for what to do. I give the odds at less than 1% if our experienced newb here venture out.
 
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