Quitting full-time trading - what next?
- Thread starter toothpick114
- Start date
I'd rather not reveal any parameters but I looked at different times frames for stock charts. I found the patterns are not as reliable for 1 minute charts. I hate to say this but there might be a chance the only thing that's wrong with your trading is the time frame or parameters you're trading with.
Exactly...almost like going to jail.
It's been said on this forum before, once you declare yourself as a former trader, the gambler stigma is just so strong in corporate America....and corps are not in a position to take any risks in this economy. In fact, they would likely hire a former school teacher than you.
It is very tough to transition from trading into a decent job if you haven't had success with it and don't have a good BA to back you up.
I have a B.A. in Economics and Accounting and a Masters in Taxation.
I started trading while in my undergraduate 30 years ago and have done consulting work from time to time. Primarily Business consulting and Forensic audits(embezzlement, fraud, misappropriated funds etc) in the past when I was younger(now 47) and got burned out on trading or just wanted to do something on the side or when co's called and wanted my services bad enough and were willing to pay me ridiculous contracts $$$.
Fortunately I don't have to work for anyone ever again.
For me business never looked upon my trading as a negative. Primarily due to my success in trading and real estate and my overall financial skills.
But it is not an easy transition for the average joe if they were just gambling/trading as they/businesses will view it as a work gap and not much more than gambling.
But don't worry about it. Stay positive and tailor your resume to highlight what skills you have.
I showed my trading on my resume and businesses liked it. Financial analysis of corporate financial statements, Annual reports, 10-k's, 10-q's. Economic analysis. Security analysis.
Did you actually do any security analysis/fundamental analysis during your trading or where you just guessing picking stocks like the rest of the morons that have become traders?
Do you actually have any financial skills? What are they? Can you read a balance sheet or income statement? Can you dissect an annual report and explain the financial strengths and weaknesses of a company to a group of investors?
What is your educational background?
Do you have a BA in a financial related fields?
If you do have some financial skills You can take temp jobs as an independent contractor. Try accountants inc, or account temps maybe some of your skills translate to doing something for someone.
If you were just trading/gambling and guessing and hoping like the multitude of schleps trading has attracted and have no real transferable financial skills then you're fucked.
Oh well the world needs bartenders.
I have a B.A. in Economics and Accounting and a Masters in Taxation.
I started trading while in my undergraduate 30 years ago and have done consulting work from time to time. Primarily Business consulting and Forensic audits(embezzlement, fraud, misappropriated funds etc) in the past when I was younger(now 47) and got burned out on trading or just wanted to do something on the side or when co's called and wanted my services bad enough and were willing to pay me ridiculous contracts $$$.
Fortunately I don't have to work for anyone ever again.
For me business never looked upon my trading as a negative. Primarily due to my success in trading and real estate and my overall financial skills.
But it is not an easy transition for the average joe if they were just gambling/trading as they/businesses will view it as a work gap and not much more than gambling.
But don't worry about it. Stay positive and tailor your resume to highlight what skills you have.
I showed my trading on my resume and businesses liked it. Financial analysis of corporate financial statements, Annual reports, 10-k's, 10-q's. Economic analysis. Security analysis.
Did you actually do any security analysis/fundamental analysis during your trading or where you just guessing picking stocks like the rest of the morons that have become traders?
Do you actually have any financial skills? What are they? Can you read a balance sheet or income statement? Can you dissect an annual report and explain the financial strengths and weaknesses of a company to a group of investors?
What is your educational background?
Do you have a BA in a financial related fields?
If you do have some financial skills You can take temp jobs as an independent contractor. Try accountants inc, or account temps maybe some of your skills translate to doing something for someone.
If you were just trading/gambling and guessing and hoping like the multitude of schleps trading has attracted and have no real transferable financial skills then you're fucked.
Oh well the world needs bartenders.
Fly, you're a tough old fart but you're telling it like it is. If you're reading charts and selling the thing short when the 9 MACD crosses the 26 MACD Corporate America equates that to Gambler but if you started an LLC or maybe an LP, or even an S-Corp and did something other than MACD then you are a businessman. There are so many damn traders out there who couldn't even calcuate a profit margin or debt to equity ratio. This shit is actually important if you want to find a job beyond trading. If you don't know any of this then you're stuck with the gambler logo.
BS
if you looked at charts of different time frames and they weren't identified, you wouldn't be able to tell what time frame they came from. guaranteed.
Not the case at all. If you pay attention, on intraday charts, the first 5-30 minutes have a much bigger range compared to the rest of intraday bars. Also, gaps usually happen from one day to the next but not intraday. Knowing just those 2 factors would be enough to identify whether one is looking at a weekly, daily, or intraday chart. Only "minute" bars up to 5 minutes are harder to identify, but good luck making money with those time frames.