Trading only career that doesn't require people?

[cashonly]

After having done time in retail, marketing, corporate, etc. I believe that trading is the only career where you don't have to deal with people or convince them to sell your product.

All your trades are executed electronically. You put your bid or offer out there or take someone else's, but you're not out there trying to convince them to give you money. The only time you might have to deal with people is getting started or with tech support, but that's not the day-to-day business, that's the exception. You have no boss or employees to deal with.

Can anyone else think of another career like this?

How about direct marketing? Well, you have to write ads to convince people to give you their money.

How about running a website? You have to either convince advertisers to buy your ads, or convince people to subscribe to your service.

Farming? Sure, for some crops it's just an auction market. But, can you do all the work yourself or do you need employees or contract labor to depend on.

Inventor? Gotta convince someone to buy your product.

Anyone know of any?

 

[goldenarm]

Radiologist.

You can sit in a dark room all day and stare at x-rays, write reports, and make big bucks. You can do it without really interacting much with people.

 

[chasinfla]

I used to think that. In fact, it was one of the main reasons I pushed on in this field.

But trading is a very social process. Perhaps you don't have to be concerned with whether or not people like you, but, no matter how you execute your order, there is at least one other person involved.

Trading is a process that allows tens -- or even hundreds -- of millions of dollars to be exchanged over the phone. Forget about handshakes. Traders exist in a world where one's word truly is one's bond. Yes, we have had our shares of Ivan Boeskys and Denis Levines, but the fundamental nature of the profession is one of honesty and integrity. In what other industry can individuals call each other up on the telephone, quickly agree to a transaction valued at millions of dollars, and hang up, knowing in full confidence that the bargain will be kept -- without contracts, witnesses, or even lawyers? The hundreds of millions of shares traded all over the United States each day are an affirmation of the character and honor of those who allow this system to succeed.

---<font size=1>Alan "Ace" Greenberg, The Supertraders, <i>forward</i></font>.

Substitute your favorite order entry system for telephone, and it applies. It's easy to forget, in this electronic age, that people make up markets.

Then, too, you still have to deal with the operations people where you trade, your banker, your wife, neighbors, etc., etc.

I have never had to deal with more people it seems...

 

[cashonly]

Originally posted by chasinfla
..., no matter how you execute your order, there is at least one other person involved.

True, but you're not CONVINCING them to take the other side.

Substitute your favorite order entry system for telephone, and it applies. It's easy to forget, in this electronic age, that people make up markets.

If you do it by phone, but I'm talking purely electronic in today's age. I know that a lot of currency trading at the big level is done over the phone where they sometimes have to convince the other side, but I'm talking about where you just throw up a number and no other info.

Then, too, you still have to deal with the operations people where you trade, your banker, your wife, neighbors, etc., etc.

wife, neighbors, etc.... That's not trading, that's life. Operations people... sure to transfer the $, but that can be done with a simple fax and it isn't part of what's earning you the $.

I'm still holding out.

 

[chasinfla]

I don't think I made my point very well. But I know better than to argue with a guy named 'Cash' that comes from Vegas.

 

[cashonly]

Originally posted by goldenarm
Radiologist.

You can sit in a dark room all day and stare at x-rays, write reports, and make big bucks. You can do it without really interacting much with people.

But don't you have to put people in the machines? Deal with their fears and apprehensions? And what if a mistake is made? Nothing illegal, just a mistake. Then you might have a lawsuit. And only people bring lawsuits. No one brings lawsuits against traders... brokers, trading trainers, software providers, yes, but not individual, independent traders for just trading.

And don't you have to deal with hospital administration? Don't they have to give you the job or the right to work there and don't you have to be selected from a group of other possible candidates? Unless I don't know enough about the field, it seems your even being able to have a place to work is dependent on others.

And where do your customers come from? If it's by referral, you need to convince other doctors you're good enough to refer their patients to. And if they do and the patient reports back that they didn't like your bedside manner, then you may get fewer referrals in the future.

If you yell at your monitor while trading, no one's going to stop taking the other side of your trades.

I still maintain my position.

 

[rs7]

Originally posted by chasinfla
I don't think I made my point very well. But I know better than to argue with a guy named 'Cash' that comes from Vegas.

Chas, i think you made your point pretty well. You obviously also have the good sense to know when to walk away from something. A very important characteristic. Especially for a trader.
Cash Coyne? From Vegas? Too good to be true! Great nickname. Had a ladyfriend from Japan named May Pan. We called her Dinja. Not many people got it. I thought it was a great nickname, but this one takes the cake

 

[chasinfla]

rs you're too kind.

 

[SteveD]

The ability to make a decision and act on it immediately is one of the most attractive aspects of trading.

I am in the commercial real estate business and to sell an improved real estate investment (apt, office build, shopping center) takes a minimum of 60-90 days and involves several layers of professionals, including the lawyers(ugh). To develop a vacant piece of land takes about a year from start to finish and involves dozens of people and code officials of one sort or another. And I am in a city without zoning, LOL!! And at the end of the day, after you have spent several thousand dollars, you may not get your project completed for one of many reasons.

So when people talk about the high risk of trading I have to assume these are people with a steady salary. I have lived through a real estate depression where an owner was unable to sell his property at any price as the value tumbled daily and the tenants left each month. He would feed the mortgage payment thinking the value and tenants would recover. But to no avail. The lender foreclosed and his original equity plus whatever he had additionally paid was lost. And sometimes he had a huge IRS bill to deal with on recapture problems.

So to sit in a room alone, place trades electronically, take responsibility for my actions, do my homework, keep my discipline, watch my money management and try to make some money is like a Godsend.

 

[wan2BTrader]

I realized that "people skill" is super important in a corporate carrer, then started searching for careers which "people skill" has very limited impact. I found that trading is perfect one and now I'm learning trading and trying to make it my new career.