Right. 15 hours a days is not sustainable. Set aside an hour or two a day to chase women and an hour or two to study for the Australian equivalent of a G.E.D. Then enroll in night school (university). As others have noted, regardless of performance (and six months is nothing) you need some kind of degree, or at least you need to be working toward one, before anyone is going to give you a second look.
Young trader, looking for advice regarding future
- Thread starter Aew
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Right. 15 hours a days is not sustainable. Set aside an hour or two a day to chase women and an hour or two to study for the Australian equivalent of a G.E.D. Then enroll in night school (university). As others have noted, regardless of performance (and six months is nothing) you need some kind of degree, or at least you need to be working toward one, before anyone is going to give you a second look.
Usually my eyes roll over when I see these long, rambling posts, but I just scanned it a little more. Dude needs to at least complete high school and go to a respectable university to just possibly get an interview at any bank, let alone top tier bank.
other people have posted similar stuff before.
although college is NOT required to be a self-employed trader, it is significant if you ever want to move up in the corporate business world.
basically go to uni while you trade on the side. if you can successfully trade, you'll have a ton of options open while you're studying. if you can't successfully trade, you'll get a degree and life experiences.
although college is NOT required to be a self-employed trader, it is significant if you ever want to move up in the corporate business world.
basically go to uni while you trade on the side. if you can successfully trade, you'll have a ton of options open while you're studying. if you can't successfully trade, you'll get a degree and life experiences.
Thank you everyone for your replies. I greatly appreciate your help.
It seems that everyone agrees that it is a good idea to at least get a University degree in the field (Business, finance, ect), and trade on the side.
Do you think undertaking a bachelor's degree, whilst trading and building a portfolio of live statements for potential investors on the side is the best course of action?
Thanks.
It seems that everyone agrees that it is a good idea to at least get a University degree in the field (Business, finance, ect), and trade on the side.
Do you think undertaking a bachelor's degree, whilst trading and building a portfolio of live statements for potential investors on the side is the best course of action?
Thanks.
A B.Sc. isn't going to do anything to get you a trading gig. Get a degree in math or engineering (programming). Apply to unimelb.
You're not going to achieve a portfolio large enough to appeal to any institutional money. Just trade and have audits done when you're in the mid six-figures. And looking at charts for 15 hours per day is an obscene waste of time, and I hope it's BS on your part.
I'll tell you my story that will save you a lot of time. I'll give you the benefit of the doubt that you're not a 40yo that is trolling the forums.
I started trading in my late teens. My dad was a retail, supply-chain exec who started trading on the floor of the cboe trading the stock received when he retired in his early 50s. He wasn't a good trader but knew how to sell puts with a lot of leverage and made millions leading into the '87 crash.
I got interested in trading in my teens after my dad's blowup and would scan the papers for cheap verticals/share proxies. I did well enough that my parents gave me $60k on my 18th birthday to trade volatility. I tripled it in the first year, doubled the second and paid back the principal w/interest. I wasn't old enough to hold the account in my own name so dad opened another Schwab account.
I can't recall the date but I spent months researching the upcoming decision on the Air Force ATF contract award. I was certain that GD would win the contract and I put literally 100% of my net liq in ATM calls on GD shares. I had no idea as to the vola I paid. They won the contract and the shares dropped a buck or two on the news. I was out 50% overnight. Six figures gone.
My point is that every kid your age is stupidly overconfident. I started undergrad at 16yo with a near-perfect SAT and a Westinghouse. I actually had an edge and still managed to fuck it sideways.
Reading charts for 15 hours a day is not an edge.
+1
I am not saying this to be rude, nor am I implying that I am more intelligent than you, but it is blatantly obvious to me that you lost those six figures due to your failure of money management and risk management.
You gambled 100% of your capital on something that had a statistical probability of 50/50 to go in your favor.
You had no edge. You were gambling and in the end, this is what happened.
I know not of your intelligence in other fields at that age, but you were obviously not as intelligent as I am currently, in the fields of money management or risk management.
Again, I don't say this in any way to be rude or to try and make it seem like I am more intelligent than you at all, but I am just stating fact.
Thank you for the reply.
Forgive my ignorance, but I'm not sure If a bachelor of business/finance count as science degrees as you have stated? I could very well be wrong, but I thought only science degrees counted as B.Sc.
Math is something I have never been good at, and hate with a passion. I do not want to ever pursue a math degree. It is simply something I hate and have no passion for at all.
Engineering (Programming) is also something that I assume is related heavily to mathematics and requires strong knowledge of maths? If so, as I said, I will not excel as it, as I have no passion for maths at all.
Thanks for your advice regarding the audits. That is something I i will definitely note and make sure to do throughout my trading career.
Thanks again.