Transition from Engineering to trading

F

fogut

I graduated from Rutgers University 5 years ago with a B.S. in EE. I am currently working as an Engineer in Seattle, WA.

I have been reading books on trading, have a thorough understanding of options, keep up with the current events and have been trading successfully on my personal account since the last 3 years.

How should I go about breaking in the trading arena ? Should I move to a location closer to NY (while still working as an Engineer) to improve my prospects of networking and eventually getting in ? So far, all I have done is applying online at the BB firms.

I find it increasingly difficult to continue working at my current position where my heart is just not there. Any other suggestions to enhance my chances of getting a job in the trading industry would be highly appreciated. Thanks very much.
 
Quote from fogut:

I graduated from Rutgers University 5 years ago with a B.S. in EE. I am currently working as an Engineer in Seattle, WA.

I have been reading books on trading, have a thorough understanding of options, keep up with the current events and have been trading successfully on my personal account since the last 3 years.

How should I go about breaking in the trading arena ? Should I move to a location closer to NY (while still working as an Engineer) to improve my prospects of networking and eventually getting in ? So far, all I have done is applying online at the BB firms.

I find it increasingly difficult to continue working at my current position where my heart is just not there. Any other suggestions to enhance my chances of getting a job in the trading industry would be highly appreciated. Thanks very much.
More...

I too formerly was an engineer. I started trading on the side back in 1994, did it part time for 1 /12 years and took the plunge in 1996. Been full time since. I left my corporate job when I felt I could support myself with trading. I had no debt; paid off my mortgage, no auto loans, no credit card debt. With that out of the way there wasn't a lot of pressure to make a lot of money early on. I have no regrets. The freedom is great and I'd accomplished a lot of my goals in my 15 years as an engineer. I trade my own money and never had any interest in trading or otherwise working for any other financial institution.
 
An EE can easily handle automation of a strategy, get familiar with OpenQuant and go in that direction. If you want more leverage you can remote trade with Bright...
 
There must be a lot of engineers on this board, has anyone done a poll on this yet? (doesn't look like it)

Engineers aren't paid what they are worth because nobody values anything useful in this country anymore. With the exception of medicine, most jobs seem to be bs middleman types of jobs (most of finance, retail, etc)
 
Learning curve is about three years, otherwise you will be one of those traders who has to get out; just when you are begining to get consistent.
 
I was told that normally it takes 7 to 9 years to learn trading well & takes engineers longer.

As an engineer myself I have heard many horrid stories. Read the post here for newbies. There are many trading education cons.

My advise to you is do not quit ur day time job until you are making great money several years in a row.
 
I would agree it takes a LOT longer than people think. 7-10 years seems right. I was also an engineer and was used to thinking in certainties. It took a long time for my thoughts to become more "fluidy".

Don't quit your day job unless you are very sure, you will be able to make it.

Good luck whatever you decide. Once you are successful the freedom is amazing!

SVR
 
I am definitely not planning to quit my day engineering job until I find a position in trading. I am only in my mid 20's and do not nearly have enough to quit my day job.

I am just wondering how do I obtain a position in trading. It is very difficult to network with anyone in person since I am working in Seattle, WA.

Thanks.
 
It's really up to you, your learning curve, and how dedicated you are to learning what your particular niche of the market is, how to exploit it successfully and how to make consistent profits ...

... and that's just the technical stuff, the psychological stuff will be a whole other ball game.

Takes 3 to 4 years with total dedication, perhaps more time with less dedication, and less time if you have serious help along the way.
 
Quote from fogut:

I am definitely not planning to quit my day engineering job until I find a position in trading. I am only in my mid 20's and do not nearly have enough to quit my day job.

I am just wondering how do I obtain a position in trading. It is very difficult to network with anyone in person since I am working in Seattle, WA.

Thanks.
More...

You don't obtain a position in trading per se ... trading is a business where your imagination is the only limitation to what you can make.

On this level, without serious re-tooling and re-education, you learn to trade for yourself.

Trying to get it in a formal manner would take a lot of time ... so much so that you would no longer be in a desireable demographic for any prospective employer, anyway.

Time for the immersion program.
 
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