What will you do if you don't succeed in trading?

Quote from JMowery1987:

EDIT: I know that more experienced, older people that reply to this thread probably won't understand how competative jobs are these days.

Guess you haven't heard of age discrimination. In the interest of full disclosure, I'm only 25. But, it's very hard to get a new job the older you get.
 
Quote from Vinny1:

If you fail at trading and can't find a job, you can always live in Hawaii or some other island that is warm year round in a tent for free; the weather would always be nice so you won't freeze;after all, who needs a house with mortgage and tax payments, or a car that requires maintenance,gas,insurance,and payments;one can live without cable,electric,and a phone. The only thing you would have to worry about is food, and for that you can fish and grow fruits and vegetables. That's how our ancestors lived and that's how people still live in some areas of the world and sometimes I think life would be better if we all lived that way. Life now is just about money and materialistic possessions and people competing on who can live in a nicer house and drive a better car and I think it's BS.


Amen ...

BUT ... and a big BUT ... What the heck can I do without full time internet ? LOL
 
Quote from Anon314159:


Your network of contacts through your trading coworkers probably won't be so great either, because 90% of them are in the same boat as you.


This is a sad truth, but it is a well resounding Truth. A lot losers around you, although on the internet, they all sound so smart :-) And then you are alone, desparate.

Be smart folks, network with real people.
 
Quote from FaderTrader:
Bingo. When in doubt, lie.
No, asswipe, lying is a bad idea.

Be prepared for many or most things in life and business; if so opportunity just keeps falling into your lap.
:)
 
Quote from FaderTrader:

Guess you haven't heard of age discrimination. In the interest of full disclosure, I'm only 25. But, it's very hard to get a new job the older you get.

I think Mowery was saying.. it would've been a lot easier to get a minimum wage job back then while there is competition for even those jobs nowadays.
 
Quote from Ripley:

I think Mowery was saying.. it would've been a lot easier to get a minimum wage job back then while there is competition for even those jobs nowadays.

Fair enough. I live in NYC. Everyone seems to hate on it for being so expensive. Yet, there is absolutely no shortage of high paying jobs. Of course, it's expensive to be here, but I think NYC nets out on top.
 
Quote from Ripley:

I think Mowery was saying.. it would've been a lot easier to get a minimum wage job back then while there is competition for even those jobs nowadays.

Yes thanks Rip.
 
Quote from Cheese:

No, asswipe, lying is a bad idea.

Be prepared for many or most things in life and business; if so opportunity just keeps falling into your lap.
:)

Oh ok! So creating a fake company and saying that you worked for it isn't lying? My bad.

Incidentally, I was agreeing with you.
 
Quote from FaderTrader:
Oh ok! So creating a fake company and saying that you worked for it isn't lying? My bad.

Incidentally, I was agreeing with you.
You have to get real about life. Nobody else gives a flying horsesh*t about you when it comes to you trying to get a job.

There is only you and your agenda.

I was suggesting a legal company, not a fake company. I have not had to set up a company for that purpose. But I have owned or run various companies so its not a big deal.

The point is you are in charge of any information about yourself.

No one has to lie. But you can choose what information about yourself you want to give or what information about yourself you wish to select which helps you.
:)
 
i left school to daytrade for a year. What an experience.

Now i'm going back to finish out my senior year, at 25 (i'm a bit old)

The idea is that upon graduating, i'm going right back into daytrading. Maybe it will be with a prop. Maybe it will be for myself. So far, I've seen the good and bad with both.

I'll give it at least 2 years after my undergrad. (one of my trading buds thinks if you're not getting after 1 year, its time to move on) If it doesn't work, I'll apply for a masters in fin math. (i'm a poly sci guy, but i spent my last semester junior year in undergrad studying math for this reason only...)

I figure if I can't hack it, the only thing I can do is look for trading-related positions where making money is not necessarily the primary goal, like in daytrading. (quanty/programmer position, execution trader, sales trader, trade support, ect) Positions like this are easier to come by after doing the masters. (seriously you should see some of the resumes of the masters students. great academics, but experience is something like, "I tutored math for 6 years)

That was the plan A. Plan b is go to grad school for law. Plan C is to become a broker, of any type.

And then theres plan Mysteriously High Pay. This plan is about occupations that pay a lot, but you wouldn't normally assume this. A good example is the personal trainer at 24hr fitness. Great pay, but then again, some barriers to entry (fitness, certification...did you know they actually require a B.A in kinesiology/something P.E related, or a certification?) Another example is tennis teaching pro. Good pay, but again, barrier to entry (need to know how to play tennis)

(I can see it now...help somebody get into shape in the afternoon, teach a private tennis lesson in the evening, put some trades on in the morning. there it is.)

Some people say that thinking/planning on failure is a bad thing/you weren't meant for trading. I can see that on some level. But on another level, if you never planned for failure, it'd be like daytrading 100:1 with a 3k account. nobody recommends you do this because you'd expect auto failure. Just because you do a littlle "cover your ass" planning, doesn't mean you're not cut out to be a trader.

(I'm surprised nobody actually brought that argument up in the thread, so I thought I'd just throw it out there if anyone disagrees)

Good trading, and good health!
 
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