Need advice

NaveedH · Apr 5, 2012

Hey fellas,

Yes, its my first post. It's also my second month trading (equities) and now I want to enter it as a career because I've become obsessed with the challenge. I'm a recent engineering grad from the Univ. of Texas in Austin, and I've always seen myself as smarter than most and I want to prove it by working in the most competitive environment in the world. I'm not trying to find a job yet, as I know it wouldn't be feasible for anyone to take on a fresh mind like myself.

I intend on doing this for a long time because I just had one of those epiphanies where you realize what you want to do for the rest of your life (too late, I know). My question to you is... how do I break in with an irrelevant degree and no experience? Any advice? I apologize if this isn't the place for it, in which case, please take this off...

Thanks much!

Roark · Apr 6, 2012

Quote from NaveedH:

Hey fellas,

I'm a recent engineering grad from the Univ. of Texas in Austin, and I've always seen myself as smarter than most and I want to prove it by working in the most competitive environment in the world.

When the market and a big ego meet, who do you think wins?

jo0477 · Apr 6, 2012

Quote from NaveedH:

Hey fellas,

Yes, its my first post. It's also my second month trading (equities) and now I want to enter it as a career because I've become obsessed with the challenge. I'm a recent engineering grad from the Univ. of Texas in Austin, and I've always seen myself as smarter than most and I want to prove it by working in the most competitive environment in the world. I'm not trying to find a job yet, as I know it wouldn't be feasible for anyone to take on a fresh mind like myself.

I intend on doing this for a long time because I just had one of those epiphanies where you realize what you want to do for the rest of your life (too late, I know). My question to you is... how do I break in with an irrelevant degree and no experience? Any advice? I apologize if this isn't the place for it, in which case, please take this off...

Thanks much!

Has anyone else noticed a pattern of engineers who want to ditch their field and trade for a living? Not anything negative, just an observation.

I'm curious because the engineers that I know personally all enjoy their careers thoroughly and would never consider leaving for any other endeavor. On top of it, they clock fantastic $$ so I'm not sure why so many on here seem to be unhappy. I would think that many would realize that it may not be the field for them while in school and switch to finance, math, comp sci, etc...

OP, do you mind sharing what branch of eng. you majored in? Also, have you thought about working for awhile to pay off debts, build a bankroll, and trade on the side? Futures or FX give you plenty of opportunity to trade outside RTH (this is what I do to get my fix!).

Best of luck dude

JO

nazzdack · Apr 6, 2012

Quote from NaveedH:
----trading (equities)....
----a career....
----obsessed with the challenge.
----recent engineering grad....
----Univ. of Texas in Austin....
----see myself as smarter than most....
----I want to prove it....
----working in the most competitive environment in the world.
----a fresh mind like myself.
----had one of those epiphanies....
----the rest of your life....
----an irrelevant degree and no experience?

1) Keep your day-job forever.

2) You're in love with the "prospect of earning a lot of money", not trading, itself.

3) Seek "excitement" outside of the market and your job.

NaveedH · Apr 6, 2012

Quote from jo0477:

Has anyone else noticed a pattern of engineers who want to ditch their field and trade for a living? Not anything negative, just an observation.

I'm curious because the engineers that I know personally all enjoy their careers thoroughly and would never consider leaving for any other endeavor. On top of it, they clock fantastic $$ so I'm not sure why so many on here seem to be unhappy. I would think that many would realize that it may not be the field for them while in school and switch to finance, math, comp sci, etc...

OP, do you mind sharing what branch of eng. you majored in? Also, have you thought about working for awhile to pay off debts, build a bankroll, and trade on the side? Futures or FX give you plenty of opportunity to trade outside RTH (this is what I do to get my fix!).

Best of luck dude

JO

I graduated with a degree in civil engineering... but I got into it five years ago as a recommendation from my dad and because I didn't know what I wanted to do but I knew I wanted to make fair money with decent job security. Now I realize that engineering 1. Isn't hard 2. Is monotonous 3. Has a low ceiling 4. Isn't for people like me who need interaction with people to keep them into it.

I've built up some capital because I literally shoved all of my money into a ticker that had its CEO announce a buyback for four times the price and then continue to not respond until NASDAQ shut him down.

As for the ego... I honestly don't have one. I surely don't think I can just walk onto the scene and have any success. I know I need to be taught for years before I can succeed... I also know that my ability to learn surpasses the vast majority, especially when I truly enjoy what I'm doing.

As for liking the prospect of making money... who doesn't like that? Isn't that one of the main draws of trading, the volatility?
I enjoy statistics and I'm determined use compound interest to my full advantage (i.e. save early).

By the way I appreciate you guys not taking my head off verbally... and not making fun of our bad football and basketball teams.

nazzdack · Apr 6, 2012

Quote from NaveedH:
----civil engineering....
----I wanted to make fair money with decent job security....
----engineering....Is monotonous....
----my ability to learn surpasses the vast majority, especially when I truly enjoy what I'm doing.
----one of the main draws of trading, the volatility?

1) The activity of trading isn't supposed to be constantly "exciting and breathtaking". Similar to engineering or anything else, it's "boring" most of the time. :eek:
2) What will you do if you become a career-changer into trading and find it to be monotonous AND you don't learn the important things you need to know to do well?

magicz · Apr 6, 2012

as the devil advocate: these are the type of traders we need more of to support the market. hard earn dollar turns into dumb money for the market.

NaveedH · Apr 6, 2012

Quote from magicz:

as the devil advocate: these are the type of traders we need more of to support the market. hard earn dollar turns into dumb money for the market.

You're making the assumption that I'm willing to put up my own capital in something I know nothing about. You may be right... But "these" isn't me. I'll let you know when I put my first penny in a company or a commodity I know nothing about.

NaveedH · Apr 19, 2012

Upon doing some more research.. I've noticed a flow of jobs that lead to trading (energy at least).

Please correct me accordingly

Risk Analyst ---> Scheduler ---> Trader

Another question I have is... can I skip the first if I have relevant experience in scheduling with respect to construction projects?

jo0477 · Apr 19, 2012

Quote from NaveedH:

Upon doing some more research.. I've noticed a flow of jobs that lead to trading (energy at least).

Please correct me accordingly

Risk Analyst ---> Scheduler ---> Trader

Another question I have is... can I skip the first if I have relevant experience in scheduling with respect to construction projects?

Having traversed the route from scheduler to trader, it's a great way to break into the industry. However, it's not as glamorous as it sounds. Physical markets are a different animal and depending on your role, it's a lot of risk management (get ready for the risk guys to be all over your book... I still hate the letters VAR)

Also, scheduling sucks for the most part, especially in the beginning (at least IMHO) but its the best way to get a handle on the functioning of the physical markets. I'm not sure what you mean by construction experience but this is not a project management/timeline type role. You would be facilitating the transfer of energy via pipeline, transmission (power) lines, etc, at various settlement points, to various counterparties as per the traders deals and terms.

These roles vary depending on the type of company you work for as well. For example, I was a trader for a midstream marketer which is a different role than a trader at a producer desk.

Geographically (assuming Texas) you're in a great spot to start