Tradrer who wants to go solo

[sle]

Quote from oldtime:

at anyrate, if I was was 23 and a successful trader, what should my fantasy be?

Workng for a bank in London, or being an independent trader?

I have vague recollection that at that age most of my career aspirations at that age where to make MD at my current firm, which I thought was the sh*t. I also remember that most of the time these thoughts were trumped by thoughts about sex.

 

[stepan7]

Quote from gmst:

Following is typical progression. OP - how are you making 180k base after a year???
Designation - Base - Experience

analyst - 70k usd - fresh undergrad joining a bank
associate - 100k-110k usd - post mba or mfe or phd joining a bank
vp 150k-170k usd - 3yrs experience as an associate in a bank

Canary Wharf's folks usually get the same treatment in numbers as Wall Streeters but in pounds plus some per cent.

BTW, "Wall Street is the only place that people ride to in a Rolls Royce to get advice from those who take the subway." - Warren Buffett.
Canary Wharf falls to the same category, but even worse.

 

[oldtime]

Quote from gmst:

OP - Yes, and once you mention the specific area, we can grill you further to know if you are lying or not. There are lots of posers on this forum and you have have lost credibility by saying you making 180k base after 1 year.

However, if our suspicion is wrong and somehow your story is correct, then you will get lots of wisdom from people here both in the thread and through PMs. At any rate, couple of issues I described in my first reply to you are serious in nature which you will face as an independent.

yes, that's the most important thing here on ET, to determine who is posting the truth and who is posting 99.99% bullshit, and if you can't figure out the difference you would probably be better off on another site.

 

[atticus]

Quote from stepan7:

Canary Wharf's folks usually get the same treatment in numbers as Wall Streeters but in pounds.

lol.

 

[gmst]

Quote from stepan7:

BTW, "Wall Street is the only place that people ride to in a Rolls Royce to get advice from those who take the subway." - Warren Buffett.

Interesting quote!

 

[stepan7]

Quote from oldtime:

no, it's not that unusual for young traders, it's quite unusual for old traders.

An old bull and a young bull were standing on the hill.

They looked down on the valley and there was a whole herd of heifers.

The young bull said, "Let's run down there and fuck one!"

The old bull said, "Let's walk down there and fuck them all."

It has been well-said that there are bold traders and old traders, but there are very few old, bold traders.

 

[GoldenMember]

Quote from canarywharf:

There is so much hate on scepticism here. Making the kind of money I do is not unusual for young successful traders. I worked my socks off to get into Oxford to get a trading job, and I deserve to earn what I earn.

And now that you got it you want to leave? Ya

No response to the specifics of his trading experience. Apparently just another troll thread, and people wonder why there is so much hate and skepticism. Only on ET.

 

[stepan7]

Interesting comments by OP
http://www.elitetrader.com/vb/showthread.php?s=&postid=3689871#post3689871

 

[canarywharf]

There is so much jealousy here, from below average IQ traders who could not get into the Ivy League or Oxbridge and who are probably in some dead-end in $75k job that a monkey could do.

 

[Pekelo]

Quote from canarywharf:

There is so much jealousy here, from below average IQ traders

Well, you asked those below average IQ traders for advice, what does it tell us about you?

But since you wanted an advice what you like, yes, sure, here it is. Go solo, it is an easy cakewalk. Why would you make safe, good bunch of money at an office, when you could trade at home in your PJ for not guaranteed profits???

Easy choice, I should say, a nobrainer, even an Oxford educated gentleman like you can make it. If you are still hesitant, I have a coin for you....

And don't forget to update us next year how it went....