I'm quite flattered. Everyone kept telling me I was insane, except for a few trader friends.
And for the poor folks out there, it looks like there are some places that will leverage a 1.5k account up to 15-20 fold, no licenses.
Most kids in college should be able to save this up if they start their freshman/soph year. And then, they can live the GRIND!
What I mean is they can find out just how much they enjoy trading their own capital, which entails:
a. fetching pizzas/working a second job
b. having to work when all your friends in summer are fucking off
c. having to TRY explaining (and eventually giving up) what you are doing over summer to friends.
If you get this much flak when you're still in undergrad, just imagine the kind of pressure/bullshit you'll likely get after graduation.
The greatest thing about prop firms like Assent/Echo/ect, are that they benefit the inexperienced noob who isn't under any real pressure to succeed (no mortgages to pay/baby to feed/ blah blah)
Considering the barrier to entry (as opposed to a place like Trillium), young undergrads with some money to risk have the most to benefit from this experience if they are interested in trading. Now will you blow out? You might. (it might be 1.5k, and if you can't handle that, your outcome looks pretty bleak) But you'd rather do that in undergrad. And you're foregoing possible internships. (I couldn't do a retail broker thing with soloman bros because of the conflict of interest. Boo hoo, oh well. Just imagine having to "forgo" your actual career opportunities after graduation and this doensn't seem so bad. If you aren't willing to take this risk in undergrad, you sure as hell aren't going to feel good about it after graduation.
And I hate hearing this "well, you can save that money and put forth a more concentrated effort after graduation." Bullshit. The pressure you'd have after graduation to succeed will almost never, justify the extra time/effort put into your trading, especially if you anticpate following a non-automated, discretionary method. Thats a big load on your brain/emotions. (the only way I can see someone advocating the save capital/more effort after grad argument is if they are going to develop an automated system. But even then, fuck that. One of my ex-co workers just blew out his account after graduating. Another 2 buds quit being brokers. I wish someone had told them how hard both career paths would be. I take that back, someone did. But i wish someone would have told them to do their best to TRY to gain that experience in undergrad. Once they saw how hard it was, they'd have never of attempted either paths after graduation, because I don't think anyone of them was meant for trading/or being a broker. (I only say this because of how quickly they all either quit/blew out. They could have at least tried to stay above water for more than 6 months. They all had a choice, but I think they just didn't want to grind it out anymore a.k.a "blow up account time"/quit cold calling.
And for the poor folks out there, it looks like there are some places that will leverage a 1.5k account up to 15-20 fold, no licenses.
Most kids in college should be able to save this up if they start their freshman/soph year. And then, they can live the GRIND!
What I mean is they can find out just how much they enjoy trading their own capital, which entails:
a. fetching pizzas/working a second job
b. having to work when all your friends in summer are fucking off
c. having to TRY explaining (and eventually giving up) what you are doing over summer to friends.
If you get this much flak when you're still in undergrad, just imagine the kind of pressure/bullshit you'll likely get after graduation.
The greatest thing about prop firms like Assent/Echo/ect, are that they benefit the inexperienced noob who isn't under any real pressure to succeed (no mortgages to pay/baby to feed/ blah blah)
Considering the barrier to entry (as opposed to a place like Trillium), young undergrads with some money to risk have the most to benefit from this experience if they are interested in trading. Now will you blow out? You might. (it might be 1.5k, and if you can't handle that, your outcome looks pretty bleak) But you'd rather do that in undergrad. And you're foregoing possible internships. (I couldn't do a retail broker thing with soloman bros because of the conflict of interest. Boo hoo, oh well. Just imagine having to "forgo" your actual career opportunities after graduation and this doensn't seem so bad. If you aren't willing to take this risk in undergrad, you sure as hell aren't going to feel good about it after graduation.
And I hate hearing this "well, you can save that money and put forth a more concentrated effort after graduation." Bullshit. The pressure you'd have after graduation to succeed will almost never, justify the extra time/effort put into your trading, especially if you anticpate following a non-automated, discretionary method. Thats a big load on your brain/emotions. (the only way I can see someone advocating the save capital/more effort after grad argument is if they are going to develop an automated system. But even then, fuck that. One of my ex-co workers just blew out his account after graduating. Another 2 buds quit being brokers. I wish someone had told them how hard both career paths would be. I take that back, someone did. But i wish someone would have told them to do their best to TRY to gain that experience in undergrad. Once they saw how hard it was, they'd have never of attempted either paths after graduation, because I don't think anyone of them was meant for trading/or being a broker. (I only say this because of how quickly they all either quit/blew out. They could have at least tried to stay above water for more than 6 months. They all had a choice, but I think they just didn't want to grind it out anymore a.k.a "blow up account time"/quit cold calling.
