Professional Trading - where does it stand compared to other high pay professions ?

[tiddlywinks]

Flawed comparisons, because of all of those legal occupations, only traders can go negative on a day's pay. They (the folks with regularly-paying jobs) are paid by the people they work for, for their efforts. On most days, they do their job and they are paid a sum.

The next day they are not then asked to give back their hard-earned money.

Only RL career I can see trading being comparable to is one with a draw vs. commission schedule. Or salary + commission with draw. You get the idea there.

So "regular-paying-jobs" means daily profits for the company writing the check? WOW!

What is flawed is you thinking a trader is different than a "regular-job". A string of bad days trading is no different than a string of no-widgets-moved days. Or losing a bid to clean the 20 story office building. Or having many small accounts, or maybe your largest account, 90+ days in arrears. or, or, or.

If a trader removes 100% of daily gains, or removes nothing, as in all or nothing, that trader is not operating as a business. Either his income is too high relative to his account, or he is just a hopeful, wide-eyed child wishful thinking his "business" will be sustainably successful. Yes it can happen that way, and for some, failure is not an option works well. But for many, perhaps a "regular-paying-job", whether the company is profitable each and every day is irrelevant just so long as the check clears, and saving a few bucks to be used as working capital rather than rent might be more suitable or appropriate.

 

[sle]

Have I missed any ?

Escorts. Many similarities in our professional lives.

 

[nooby_mcnoob]

Escorts. Many similarities in our professional lives.

Sounds like someone has experience (no judgement, escort+surrogate+nanny is cheaper than a wife, says Ronaldo.)

 

[wildchild]

$1000/day as an IT professional is pretty straightforward even if you're half assing it.

When, where, and who?

 

[nooby_mcnoob]

When, where, and who?

1. Don't suck
2. Learn SQL and call yourself a big data analyst or data scientist
3. Profit

If you're a good salesman, $1000 (USD)/day is not hard at all.

** Note: I am being slightly sarcastic, SQL isn't enough to be a data scientist, but the scams I see people get away with are amusing.

 

[sle]

Sounds like someone has experience (no judgement, escort+surrogate+nanny is cheaper than a wife, says Ronaldo.)

I am not pretty enough to have worked as one, if that's what you are implying

On a serious note, I did know a few people "in the business". Way back when I was in college I was sharing an apartment with two young ladies both of whom were in the trade. Lemme tell ya, it's not as glamorous as the movies make it. Just like trading.

 

[nooby_mcnoob]

I am not pretty enough to have worked as one, if that's what you are implying

On a serious note, I did know a few people "in the business". Way back when I was in college I was sharing an apartment with two young ladies both of whom were in the trade. Lemme tell ya, it's not as glamorous as the movies make it. Just like trading.

I also knew someone in the business. It's get in and get out or become a 50 year old meth head. No in between. Just like trading?

 

[wildchild]

1. Don't suck
2. Learn SQL and call yourself a big data analyst or data scientist
3. Profit

If you're a good salesman, $1000 (USD)/day is not hard at all.

Well thats a data scientist job but you are going to have to know more than SQL to land that. Its not IT.

You will need to be fluent in python and deep learning and likely have a PHD in a hard science (math, physics, engineering). Sure you can make alot of money but competition is fierce.

Go to Kaggle and try your hand in a competition and it will likely be humbling.

 

[Overnight]

So "regular-paying-jobs" means daily profits for the company writing the check? WOW!

What is flawed is you thinking a trader is different than a "regular-job". A string of bad days trading is no different than a string of no-widgets-moved days. Or losing a bid to clean the 20 story office building...

Tiddly, man, have you ever held a regular paycheck job? That is what a regular paycheck job is all about.

The fact that a company has a string of "no-widgets-moved" days does not mean that employees do not get paid.

If you work for a company on wage or salary, you will get your weekly paycheck whether the company makes or loses money on that day. As a trader, this does not happen.

You dig?

 

[sle]

It's get in and get out or become a 50 year old meth head.

Exactly. Also, just like a trader, there are days you get fucked more than you'd like to.