Hi
New to trading, and this forum, (first post). I work full time and have almost no trading experience. I once dabbled (well, gambled) using IG Index spread betting few years back (Turned £50 into 5£00, then closed out around £200 in a few lucky/unlucky currency trades).
But anyway, I have skimmed some posts and I understand that 95-98% of traders lose money, whatever the instrument. Fine.
What I want to know is this: Those guys who got onto the trading grad schemes 6 years ago when I left university, a good few still have their jobs till today. I'm talking, JP Morgan, GS. They studied stuff like economics/math/engineering. I am not a genius, I do ok. Most of them are not geniuses either, well, compared to me.
So wtf are the Investment Banks teaching 21/22 year olds that ensures a much higher success rate than the average dabbler?
Or is it simply because, like I did few years back, the vast portion of that 98% were gambling. i.e. the had no freaking clue, while the guys at the bank spend a couple of years learning the ropes before ever having their own trading account?
I purchased the book 'The Rookie's Guide to Options' by Mark Wolfinger the other day. Almost half way through the book, good read so far. For those who trade for a hedge fund/bank, can you recommend some sources that the pro's will all know. I know that won't give an edge per se, but if I fail, I'd at least like to be able to say I was armed with the knowledge and gave it my best shot.
Cheers
New to trading, and this forum, (first post). I work full time and have almost no trading experience. I once dabbled (well, gambled) using IG Index spread betting few years back (Turned £50 into 5£00, then closed out around £200 in a few lucky/unlucky currency trades).
But anyway, I have skimmed some posts and I understand that 95-98% of traders lose money, whatever the instrument. Fine.
What I want to know is this: Those guys who got onto the trading grad schemes 6 years ago when I left university, a good few still have their jobs till today. I'm talking, JP Morgan, GS. They studied stuff like economics/math/engineering. I am not a genius, I do ok. Most of them are not geniuses either, well, compared to me.
So wtf are the Investment Banks teaching 21/22 year olds that ensures a much higher success rate than the average dabbler?
Or is it simply because, like I did few years back, the vast portion of that 98% were gambling. i.e. the had no freaking clue, while the guys at the bank spend a couple of years learning the ropes before ever having their own trading account?
I purchased the book 'The Rookie's Guide to Options' by Mark Wolfinger the other day. Almost half way through the book, good read so far. For those who trade for a hedge fund/bank, can you recommend some sources that the pro's will all know. I know that won't give an edge per se, but if I fail, I'd at least like to be able to say I was armed with the knowledge and gave it my best shot.
Cheers
