You Can't Trade Without A College Degree!!

Quote from giles117:

Oops, no degree here, ... I home school and slam them with College curriculum Daily.....
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Yeah right! Someday they too will be proud owners of lawnmowers, carwashers, bar-ditch [Al] can collectors, etc. When does the erudition begin?
 
Quote from tradestrong:

I wonder about the posters in this thread?

Is there anybody here who has a degree that regrets getting the degree? I see a lot of the individuals here without degrees bashing the idea of getting a degree. But wouldn't a more accurate assessment come from somebody with a degree giving reasons why you don't need the degree?

Secondly, I wonder how many people here who "claim" they are successful at trading without the degree actually have any degree of credibility to their claims? Have they been trading for many many years with success? Are they making over 50 grand a year consistently with their trading? Can they honestly state that they are a completely successful trading and aren't instead just fooling themselves based upon a 6 month record or their *future* delusions of how much they are going to make? I see a lot of "when I" or "I will", but where's the "I have been"?

Third, if there are successful traders without degrees, is it merely a case of survivorship bias? Where are the vast majority of traders who have failed and have no degree? What do you think *those* former traders are doing now? What percentage of traders do you think there is that have failed and don't have a degree?

Look...having dreams and goals is always a good thing. But at the same time, don't be a fool about it. Don't convince yourself that you are any better than any other average Joe trader. Life is about risk management. If you can't properly manage the risk in your life and think that degrees "are worthless", frankly, how can you possibly be a successful trader?

You may not want to spend the time getting a degree right now, but call a duck what it is, it's a duck. You'll be ahead of the game if you can say..."I don't want to spend the effort and time getting a degree right now, but I also know that a degree is never a waste". Be true to yourself and don't lie to yourself.
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You know.

I don't like to get too deeply involved when people start shouting out what can be done and what can't be done in the markets.

On every thread you have people saying "you can't make x amount in a day" or "it's impossible to trade today" on a day when the previous trend is consolidating in a nice trading range, or "how many of you people are making $50,000 a year?!#!!", LOL if we're good traders, hopefully none of us ... I'd like to think that you can make quite a bit more than $50,000 a year (if you can't, the risk of failure is not worth the reward of sucess, just stick with your middle management day job - get it? :confused: )... or the "if I can't figure it out, then you guys can't either" we always get plenty of them, when one wave dies out, another is sure to come along, and reveal their knowledge (or lack thereof) with every post they make.

If someone wants to go to college, by all means, GO. But it isn't necessary to become a good retail trader ... it isn't necessary to make a boatload of money ... and it isn't necessary to achieve financial success in life.

I
 
Quote from Icarus5:

If someone wants to go to college, by all means, GO. But it isn't necessary to become a good retail trader ... it isn't necessary to make a boatload of money ... and it isn't necessary to achieve financial success in life.

I [/B]
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And nowhere have I even hinted that. I simply want to hear one person here say that they regretted getting their degree. I'm hearing a lot of, "I don't need no freak'n degree because it's a waste".

I just don't want other young people in this thread to believe that these sentiments are coming from successful traders that have got a degree and "regret" wasting their time.

Hence I keep my challenge open. If getting a degree is "worthless", then there should be a few highly successful traders here with degrees that are going to "educate" the young people here on how worthless their degrees were and how much they thought they were a waste.

Otherwise, whether you plan on trading for the rest of your life or not, I personally see absolutely no waste in getting the degree even as a backup plan.

That's all. I just find it dangerous for those without degrees to go off convincing others how they don't need the degree to be successful. First, show that you are even successful at trading (making at least 50 grand a year trading with a track record of many years).

I could claim how easy it is to be a world class race car driver with no experience, but it doesn't mean that it's true.

But like I said before, if a degree is a waste, then somebody who is both extremely successful at trading and holds a degree is going to step forward and tell you what a waste it is. (not from the perspective of applying it to their trading, but as in their overall regret of obtaining the degree)

(Personally, I think you'd be hard pressed to find any reasonable statistically significant group of people that would state such a thing)
 
Hey I know, lets start a poll. The questions might be as follows:
***
1. I got a degree and it has helped my trading.

2. I got a degree and it has not helped my trading.

3. I did not get a degree and it has helped my trading.

4. I did not get a degree and it has not helped my trading.
***
After replying to the poll, participants would be invited to share the detailed explanation of why they answered as they did.

If anyone has a better set of questions, please post them, and once we can all agree on the best set of questions to ask, I'll get the ball rolling.

Sounds good? :)

Best,

I
 
Quote from timbo:

Yeah right! Someday they too will be proud owners of lawnmowers, carwashers, bar-ditch [Al] can collectors, etc. When does the erudition begin?
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Don't hate... I know some Lawn Care pro's who clear 200K + a year....

Own a Car wash.. a Properly located one can easily clear 300 - 500K per year.

And Bars... LOL guess you dont watch the #'s... Properly run Bars clear 15-25K per week. (after expenses)

I expect them to own and run their own businesses. After all thats what Dad has done since he was 16. In spite of 6 years working a corporate Job.
 
Suggestions on the proposed poll:

1. I got a degree and it has helped my trading and I am profitable.

2. I got a degree and it has not helped my trading but I am profitable.

3. I got a degree and it has not helped my trading and I am not profitable.

4. I did not get a degree and it has not hurt my trading and I am profitable.

5. I did not get a degree and I am not profitable.
 
Quote from Icarus5:

Hey I know, lets start a poll. The questions might be as follows:
***
1. I got a degree and it has helped my trading.

2. I got a degree and it has not helped my trading.

3. I did not get a degree and it has helped my trading.

4. I did not get a degree and it has not helped my trading.
***
After replying to the poll, participants would be invited to share the detailed explanation of why they answered as they did.

If anyone has a better set of questions, please post them, and once we can all agree on the best set of questions to ask, I'll get the ball rolling.

Sounds good? :)

Best,

I
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First of all, polls are worthless in the context of an internet message board.

Secondly, if the poll is strictly based upon the relationship of a degree to your trading, well then that's a horrible method to determine whether a degree was worth it or not. You're simply determining whether somebody's degree was applicable to their trading. If somebody has a degree in engineering, obviously it's not going to help their trading at all. Having said that, it stil doesn't mean that they regret getting the degree even if they are a currently successful trader and aren't in engineering.

I propose something much more simpler if you want to gauge whether a degree is worthless or not.

Simply:

I got a degree and regret it.

I got a degree and don't regret it.
 
Quote from tradestrong:

First of all, polls are worthless in the context of an internet message board.

Secondly, if the poll is strictly based upon the relationship of a degree to your trading, well then that's a horrible method to determine whether a degree was worth it or not. You're simply determining whether somebody's degree was applicable to their trading. If somebody has a degree in engineering, obviously it's not going to help their trading at all. Having said that, it stil doesn't mean that they regret getting the degree even if they are a currently successful trader and aren't in engineering.

I propose something much more simpler if you want to gauge whether a degree is worthless or not.

Simply:

I got a degree and regret it.

I got a degree and don't regret it.
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Nope.

That's a horribly one sided poll.

You'd have to include the traders who didn't get a degree to balance it out.

I
 
Quote from timbo:

giles; doesn't even cover my overhead.
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Thats YOUR overhead. LOL.

Small business is the backbone of this country.....

Of course I speak in Net profits, not Gross....
 
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