Job with Morgan Stanley???

[lasner]

Quote from dafugginman:

it's unlikely you will get a job on a trading desk without a top degree from a top institution or without knowing someone. you should at least try though and be persistent. just sending out resumes isn't going to get you anywhere, and i like the idea of calling twice a day for a week. i used to just show up at people's offices to drop off my resume and see if someone would talk to me. it worked sometimes, other times it didn't. this obviously would not work with goldman sachs, jp morgan, morgan stanley, etc. but it can work for more entreprenuerial firms.

you have 20k. you should learn how to progam and go the prop route. you can make as much as you want and you can't put a price on being your own boss. i could never work for someone again.

That's a good point. I like the idea of not working for someone else and being my own boss.

 

[murray t turtle]

Quote from segv:/lasner

Lasner,

I will try to highlight the risk:



You assumption here is that you will be able to exit the position if the price of the option doubles. Under everyday trading circumstances that may very well be true. However, markets are not always rational environments. The market can explode against you, never giving you the opportunity to liquidate or hedge until well past the point no return.



This is not a diversifiable risk, Lasner, because of the extreme leverage. The probability of experiencing a catastrophic event increases as you trade more markets. P(A or B) = (P(A) + P(B)) – P(A and B). Further, even for the diversifiable portion of the risk, have you considered the correlation and cointegration between the markets in question?



Shorting premium is a perfectly viable strategy, it is the bread and butter of many traders. However, you have to understand and control the risk associated with being short premium. In regard to your current strategy, they call it "naked" for a reason.

-segv

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Lasner;
Morgan Stanley has & may stiil have one of the more helpful trader/writers.Dont know if he writes options, but he excells as a writer,surely excells in trend insights.
Joshua Lukeman-book writer- Market Makers Edge.

Most of us didnt think much about this,when young , much less do it;
but another way to, perhaps the only SURE way not to blow up an account ;
wire/remove amount$ monthly.

Actually do occasionaly trade derivatives;
but cant think of a more bad risk reward ratio , never wiring money out.Hope this helps, it helped me.

Wisdom is profitable to direct.