What will you do if you don't succeed in trading?
- Thread starter Anon314159
- Start date
2 pages, table of contents and the other page that reads "Don't do anything I say"
Sweet, easily worth 50 bucks.
hey...I could write stuff that I do not even understand...like I have here for the last few years 
I suspect that most people don't know what it's like looking for a job when your past few years of trading experience will be irrelevant for almost any position you seek.
It will be tougher and more demoralizing than you imagine. You'll send out hundreds of resumes, get a handful of telephone interviews, and even fewer site interviews, if at all.
Recruiters/head hunters will tell you (if you can get them on the phone) that they can't/won't help place you because you've been out of the market for too long.
Your friends from your prior job before trading will have moved onto to different careers and won't/can't be as helpful as you imagine.
As the rejections pile in and your cash reserves run down, you'll start considering jobs that you don't like, that are more junior, for less pay, and in less desirable companies and geographic locations.
Yes, it's not a pretty picture, but I think it's an accurate picture of what lies ahead for the 95% of the people who don't cut it in trading.
If you can't truly accept without regret such an outcome (an outcome which will come true for 90% of those reading this now), trading for a living probably isn't the wisest career path to pursue.
It will be tougher and more demoralizing than you imagine. You'll send out hundreds of resumes, get a handful of telephone interviews, and even fewer site interviews, if at all.
Recruiters/head hunters will tell you (if you can get them on the phone) that they can't/won't help place you because you've been out of the market for too long.
Your friends from your prior job before trading will have moved onto to different careers and won't/can't be as helpful as you imagine.
As the rejections pile in and your cash reserves run down, you'll start considering jobs that you don't like, that are more junior, for less pay, and in less desirable companies and geographic locations.
Yes, it's not a pretty picture, but I think it's an accurate picture of what lies ahead for the 95% of the people who don't cut it in trading.
If you can't truly accept without regret such an outcome (an outcome which will come true for 90% of those reading this now), trading for a living probably isn't the wisest career path to pursue.
Geez, you make it sound like you'll go from trading to homeless status overnight.
I truly believe that if you want to make it as a trader bad enough, work enough at it and dont allow the idea of failure to enter your mind, you can succeed. The problem is not the markets, its you. If you work on yourself enough, all the pieces are there to fall into place if you allow them to. Just my 2 cents.
I truly believe that if you want to make it as a trader bad enough, work enough at it and dont allow the idea of failure to enter your mind, you can succeed. The problem is not the markets, its you. If you work on yourself enough, all the pieces are there to fall into place if you allow them to. Just my 2 cents.
In all fairness though ... Steve, you are a successful trader. So your opinion is of one who will continue to do this for a long time, and it is easy to say you could easily switch to a new career, but, I must say, I don't think it would be a picnic to do that.
Although it isn't homeless overnight, to go from trading and bringing in several thousands a month, to a job at 6.50 an hour, I don't know really, again, it's easier said then done.
It is risky.
I mean it was actually tough for me to get a job locally, competing with others for local video-stores, foodlion's, burgerkings. Those jobs are even competative these days, it's amazing. So I don't know if you've ever had to deal with that, but it is very risky without question. Someone can ruin their life taking this path, that is fact. I'm just fortunate to have family that could help me out if needed. But 10 years from now, no college education, a family, trading. Something goes wrong. It's risky
Regardless, everyone needs to have a backup plan, anything can happen.
Homeless overnight? Doubtful, but is it possible? Very possible.
EDIT: I know that more experienced, older people that reply to this thread probably won't understand how competative jobs are these days.
Quote from golablue:
If trading doesn't work out, you'll find me driving around in a van solving mysteries.
If I suck at solving mysteries, I'll enlist the help of the Harlem Globetrotters. Their basketball skills are outdone only by their penchants for explaining paranormal activities.
Funniest post ever on ET
If my trading does not work out, I will just do what every other trader who cannot make a living from it does......
teach seminars for $5,000 a pop!
teach seminars for $5,000 a pop!