Smart college grad wants to be a career trader

T

tomski

Hello All,

I have a bit of a dilemma and I am hoping some of you might offer me some advice. I am a recent college grad (as in a couple months ago) of a tier 2 business school. I majored in Finance + Accounting (though I don't like accounting much) and minored in stat. I also have a strong computing background (including programming experience).

I've always wanted to be a trader. I've got a collection of 20 technical analysis books and maybe 10 other trading books and of course all my finance books. I'm also studying for CFA Level 1.

Anyway, I graduated and moved to NYC to work as an analyst at a very large financial institution "on the block" -- aka in midtown. It pays decently and the benefits are nice but I hate the work. The whole reason I picked up finance as my major in the first place was a total fascination in trading and the markets . I've always wanted to be a trader but often listen to other people tell me to stick w/ the safe analyst roles.

Well I've had enough. I want to pursue my dream and become a trader. I am esp interested in derivatives but don't mind equity. Both would be good. I consider myself pretty sharp and a fast learner. I don't care about money that much though I need to figure out a way to sleep and eat and go out from time to time. I don't have too much money now, enough to go w/o income for a few months but not enough to trade.

I guess my question is: what advice would you offer me about becoming a “career” trader?
 
It was suggested to me a long time ago to contact my alumni association and get in contact with people who do exactly what I want to do. They are few and far in between, but I suggest you do the same. 9 times out of 10, fellow alumni are more than willing to help you out. i.e. get you in their trading group, back you, teach you, etc.

good luck to you man. follow your dreams. no regrets.
 
I might not be the sharpest knife but a start would be:

a) Open an account
b) Trade

+- 6 months you'll have a better idea about a trading career.
 
The only way to learn trading (futures that is) is to lose a lot money and unfortunately for you no firms will allow you to that anymore, everyone has a short leash at least here in Chicago. I would try to go somewhere that will give you a draw and let you learn but it takes time. Only after 4 years did I start making real money. It took some of the biggest traders in the world to blow out 3 or 4 times before they did it. It is not all fun and games but if you can figure out what markets you like and the way to trade them quickly maybe you will have success before I did.
 
You must log in or register to reply here.
Back
Top