Do NOT quit school. Period. End of story. You will thank me in your mid 30's.
Transition to full time trader quitting school and work
- Thread starter apo99
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I would not worry about 20 years from now - If anything there have been more products to trade over the years and the big fish need the small fish to always be in the pond. The best is to do both - trade and have a job. As a swing trader I thought when I had all day just to trade I would do better- it was the opposite. I did a lot better when I was working and trading in the background.
Thx Maverick
I dont think i will, but i know that trading is what i want to do for the rest of my life, to bad there is no degree in trading. But i dont think a formal education can help anyone in trading and if it does its effects will be small
Ive heard this a lot from many people. Im just starting to lose motivation at work and it seems like such a waste of time instead of focusing my time trading.
But the whole objective of studying is to get a good job.
So if he can generate enough income (or even more income than average income of his age group), then he doesn't have to stay in school or does he?
Owen Glen is a New Zealand Billionaire who has not even studied at University and he has funded a University to build some buildings and the University has given him the PhD degree.
For me, I want to stay in Academics because I can carry out research to develop better trading/investment strategies. But I don't think it's what he is having in his mind.
"small cap stocks between (0.25-3$)"
I think one of the problems trading those stocks is that you can't scalp up; then to trade full time, probably you will need a system that deal with larger markets, and a mechanical system would be helpful in reducing the stress and discretionary effort.
If you think 2m in 10 years is satisfactory, probably finding a good job is much easier and less stressful; many young graduates can get this kind of compensation within 10 years if you have the proper talents and background and get into the right company, and they would probably enjoy their life much more than lonely trading the market by themselves.
I think one of the problems trading those stocks is that you can't scalp up; then to trade full time, probably you will need a system that deal with larger markets, and a mechanical system would be helpful in reducing the stress and discretionary effort.
If you think 2m in 10 years is satisfactory, probably finding a good job is much easier and less stressful; many young graduates can get this kind of compensation within 10 years if you have the proper talents and background and get into the right company, and they would probably enjoy their life much more than lonely trading the market by themselves.
Couldn't be more wrong. Do you understand math? Statistics? Economics? Can you program in Python? How about R? Do you know any VBA for Excel? Do you understand econometrics? These are all vital skills to trading. Not clicking a stupid mouse button. If you are not learning anything in school you are either taking the wrong classes or not attending classes.
My strategy is pretty much is only scalable to 4-5m$ which is more than enough for me. Nothing brings me more pleasure than trading, but i do have a very active social life which helps out. I can also assure you that maybe 0.01% of graduates can save 2m after 10 years of employment.
Well I do have a good understanding of Econ, Math, and stats because of University but there isn't much that someone cant learn by himself if he has the discipline and willpower with all the info out there.
No, that is NOT the purpose of getting an education. We have a population in this country that is dumb as a bag of bricks. You need an education to be a good citizen. So you can vote. So you can raise a family. So you can make intelligent life decisions. Trading is just a function of that. We have kids in this country that don't understand credit, debt, history, war, government, even how to have safe sex. It's pathetic on every level. Whenever I hear someone say they don't need to learn anything because they would rather click a mouse all day like a compulsive gambler, it makes me sad and deeply worried. Hell half our country can't even name our VP. Half our country can't name more then 3 state capitols. Shit I bet 10% of our populace still believes the world is flat. There is something to be said of having smart educated citizens.
One day this kid on the off chance he is even successful at trading might want to raise money. Can he even string two coherent sentences together. Can he even write? How many people on this very board don't even know the difference between "lose" and "loose". It's not funny, it's pathetic. What's worse is he is showing his judgement is seriously impaired if he is 90% of the way through meaning he probably has one semester left and is going to stop now? And you think he has the judgement to be a good trader? Because he got lucky by daytrading penny stocks? Come on.