Tired of being a retail Broker
- Thread starter musclemoney
- Start date
Columbo - been trading full-time now for 3 years or so. Started getting into it while a broker as well but that started getting compliance more interested in my personal accounts... They could not understand why I was placing 'stop losses' on my stocks...
How about you?
Trading while at work, for the last 4 trading on own during 2007.
alot of idle time, no? It seems I have to find things to do nowadays. My time is spent 1/3 looking for setups, 1/3 waiting for the setups to actually set up and then 1/3 waiting to get out once I am in. 1% is actually spent on trading. I trade equities and options and everyonce in a while I will play with the FX guys. Money is good, can't complain, but gosh that down time is a hard to get used to at first. I guess it's that psychological necessity to feel productive that I picked up in Corporate America. "If your not doing anything, then you should be looking for the next thing to sell to someone...... ." ... that kind of thing... It will fade with time.
I try to stay away from the chatting (not very productive) but God this broker bashing thread was too much of a temptation.
I am in Miami so there is always something nice to do outside. I get that guilty feeling every so often that I should be "doing something productive"...need to come to terms with the fact that we get paid for knowing where price is , not for warming up the bench and talking company politics....
Would'nt trade this for anything though......it was nice when it all clicked and the madness finally had some order to it.... glad I'm here....
How about you?
alot of idle time, no? It seems I have to find things to do nowadays. My time is spent 1/3 looking for setups, 1/3 waiting for the setups to actually set up and then 1/3 waiting to get out once I am in. 1% is actually spent on trading. I trade equities and options and everyonce in a while I will play with the FX guys. Money is good, can't complain, but gosh that down time is a hard to get used to at first. I guess it's that psychological necessity to feel productive that I picked up in Corporate America. "If your not doing anything, then you should be looking for the next thing to sell to someone...... ." ... that kind of thing... It will fade with time.
I try to stay away from the chatting (not very productive) but God this broker bashing thread was too much of a temptation.
I am in Miami so there is always something nice to do outside. I get that guilty feeling every so often that I should be "doing something productive"...need to come to terms with the fact that we get paid for knowing where price is , not for warming up the bench and talking company politics....
Would'nt trade this for anything though......it was nice when it all clicked and the madness finally had some order to it.... glad I'm here....
How about you?
Same here - getting used to the 'downtime' was not easy. Feel like always gotta be doing something.
I just trade futures currently. Started in stocks to options and then settled on futures. I guess the leverage and movements fit the active style I am looking for.
I just trade futures currently. Started in stocks to options and then settled on futures. I guess the leverage and movements fit the active style I am looking for.
There are no nice guys in this business. It is all greed. The companies want you to sell what will generate the largest payouts to the firm. Plain and simple. By the way, I am from Cleveland and a Browns Fan.
Quote from brownsfan019:
I still have some buddies back at the firm where I worked and I couldn't take it if I was still there. Yes, the money can be very good but at what cost?
If you drink the koolaid, all is well but sooner or later people wise up to what they've been spoon fed.
And even when you do follow the rules, you are still on your own... example...
When I was selling, I sold quite a bit of CMO's that were AAA rated b/c they were insured!An easy sell actually - Mr. Client this product is insured, AAA rated and gives you a monthly income. Can't miss!
One problem - the firm never really explained how these worked... Been reading about bond insurers in trouble? Guess what? These CMOs are getting murdered...
What on earth would you tell someone after you did what the firm told you to do? Now, you are on your own island. Good luck b/c the firm will protect their interests before yours... Even if you do what you are told...
A few instances like that and you quickly wake up and say no thanks.
I didn't know other people in Cleveland traded!
Good to have another Browns fan on the board!Well said, except one disagreement - when you 'make it' as a broker, life is pretty easy if you want it to be. I could have kept my mouth shut and just did what I was told like a good boy and make good money. When I left, I could barely show up and net out at least $10k/month. I realize that's relative to each person, but making $10k with little work is a nice little gig in my opinion.
ahhh,
All the "Brokers" turning professional profitable traders.
Hell, They even have the balls to compare themselves to "Marty".
I bet the last 30 times the world look like it was going to hell, these Brokers turned "Pitbull" traders ran out and grabbed their gold from the bank, only to have their wifes draggg it back to the bank when the world didn't implode.
Taxi cab drivers, Brokers turned traders, Long hair guys on skat boards trading, reminds me of a Tv Add back in the days. Cough Cough
:eek:
All the "Brokers" turning professional profitable traders.
Hell, They even have the balls to compare themselves to "Marty".
I bet the last 30 times the world look like it was going to hell, these Brokers turned "Pitbull" traders ran out and grabbed their gold from the bank, only to have their wifes draggg it back to the bank when the world didn't implode.
Taxi cab drivers, Brokers turned traders, Long hair guys on skat boards trading, reminds me of a Tv Add back in the days. Cough Cough
:eek: