Quote from NYSEscalpa:
with an attitude like that, you've lost the battle before it's even begun....it is entirely possible to make a 7 figure or greater income in either profession, but that's obviously the top tier performers. you have to possess the tenacity and intelligence to climb to the upper echelon....
With a complete lack of what is going on in the Brokerage industry, you're best off not even thinking about entering it. I never said it was impossible, but without some edge or pure luck or a gift from nature, you're in for a GRIND.
Take a does of realism, it helps to make correct decisions, protect your downside and create a safety net. Build yourself up with the "rah rah" attitude and you may find yourself desperately broke a year from now, wondering when those 60 hour weeks will pay off.
Quote from MTI_44:
It is my friend's father. And there is only one problem. He lives in California with his rich friends and I am in New Jersey going to Rutgers. I trade on my own between classes. I am going to see though if he does have any friends in the city.
This is why I said to do research. I'm giving you good advice here. Don't matter where they live, E1 actually aims at international clients, mainly UK & Australia. This is 21st century.
My friend, an ex successful broker who stupidly wasted all his money went back into the biz. He tried out E1, went back to his old boss. E1 has NO DRAW but a good payout. It's not a boiler room, they won't even let you write tickets without the account being funded. That 50-200k/month kid, I may have met him, even he says that it may have been luck on top of hard work. Landed that one client and that set off the catapult. That's still 1 in hundreds, just counting E1 alone.
You do this. Get your friend's dad and his richie friends to at least give you a push by starting small BS accounts with you. I doubt 50k-100k is anything to them. Until you get the grasp of it, let them dictate their own trades. You may learn from them and maybe evolve.
If you are able to come into E1 with accounts ready to go, even if they are not that big, you will get special treatment and a HUGE boost. Look, most successful brokers (discounting boiler room), are successful because they know rich ppl and come from those type of backgrounds. I've interned at Merrill's private client group in NYC (their top brokerage office) for 2 years, I would know. It's about RELATIONSHIPS, first and foremost.
