Young trader, looking for advice regarding future
- Thread starter Aew
- Start date
I brought color to the GD option trade bc I'd already been trading conversions upstairs and was fairly knowledgable, but it's no substitute for experience. Handing a kid $ to invest is like handing a 16yo a bottle of scotch and a muscle car. I don't think anyone at that age should trade.
Twice divorced. I made much more in 2006 (UST 30Y flies and curve trades) and in 2000 (COMS (RAES) arbitrage). I spent six-figures on some IBM AIX hardware and went into colo index arb. Sold the equipment to G-Bar after rates dropped.
Bought a bunch of pre-construction single family units but still have three which are long-term rentals. I lost a ton in 9/11 as I'd just gone 4x long on 9/10. Did well for three funds from 2004-10 but divorce was a massive hit.
Not read all of this thread, but to the OP:
You're 18 and are entitled to spread your wings. Continue trading and see how far in the world you can go.
Basic maths is enough for trading. Fast mental arithmetic is really useful.
Carry on trading, and learning and trading. Give yourself a few years. If it doesn't pan out in say 3 years, you'll only be 21.
You're 18 and are entitled to spread your wings. Continue trading and see how far in the world you can go.
Basic maths is enough for trading. Fast mental arithmetic is really useful.
Carry on trading, and learning and trading. Give yourself a few years. If it doesn't pan out in say 3 years, you'll only be 21.
If you but in as much effort as you did high school, there is no doubt in anyone's mind that you will succeed.
Only on ET
I am still continuing the "de-junking" steps, preparing myself physically as well.
I really just wanted to reflect more on "de-junking" the scruton "saga", so I missed the
puppet theater show! I will replace yesterday's event with the mickey one.
This city is really nice - the only negative now is the cooler weather. This is something I need to take into consideration when moving to a new city.
This "de-junking" step is actually very controlled consciously. I wish I had started this dejunking a long time ago.
- Listing every crap one has done, seen done, or been at the receiving end of it.
- Working on every crap : looking to it from different perspectives, understanding the psychology/spirituality behind it, including the role played by mentally illness.
- Linking all the craps, finding new crap from others or from oneself
repeating the 3 steps.
Layers after layers, the onion got peeled.
I really just wanted to reflect more on "de-junking" the scruton "saga", so I missed the
puppet theater show! I will replace yesterday's event with the mickey one.
This city is really nice - the only negative now is the cooler weather. This is something I need to take into consideration when moving to a new city.
This "de-junking" step is actually very controlled consciously. I wish I had started this dejunking a long time ago.
- Listing every crap one has done, seen done, or been at the receiving end of it.
- Working on every crap : looking to it from different perspectives, understanding the psychology/spirituality behind it, including the role played by mentally illness.
- Linking all the craps, finding new crap from others or from oneself
repeating the 3 steps.
Layers after layers, the onion got peeled.
... and all comes down to decision-making :
conscious decision-making or unconscious decision-making?
Same in trading : conscious decision-making or unconcious decision-making?
And one's re-actions are not really about the stimuli, but all about what is inside oneself.
I am understanding better why trading is a mirror to one's psychology!
Or trading is an expensive way to learn about oneself!
I now would say if one wants to make trading easier and faster:
start working with a clinical psychiatrist. Not because one is mad,
but because one does not know how the human mind works.
conscious decision-making or unconscious decision-making?
Same in trading : conscious decision-making or unconcious decision-making?
And one's re-actions are not really about the stimuli, but all about what is inside oneself.
I am understanding better why trading is a mirror to one's psychology!
Or trading is an expensive way to learn about oneself!
I now would say if one wants to make trading easier and faster:
start working with a clinical psychiatrist. Not because one is mad,
but because one does not know how the human mind works.
=============
Amen ; with a 15% ROI per month, trade your own account.
But with that 15% ROI per month, make sure you dont risk more than 1%; which may give you a fighting chance, especially since its harder to keep up a big %%,, like that over a long time
Most new traders risk much more + blow up
Wisdom is profitable to direct.
To OP. Sounds like you are finding early success. Congrats. But like Han Solo said "don't get too cocky" too fast and too soon. Take some time to learn the ways like Luke did with Yoda.
If you can do that well with your current record, then I'd suggest to make it work for you. Consider your profits as funding for your "research". With 15/hr day work/study habits you should have no problem finishing the GED. Then consider taking classes at community college. Perhaps intro to business, intro to entrepreneurship, and accounting. Maybe you can go for a certificate or 2 year degree. Just saying all the classes taught in school and college aren't worthless (although many classes are lol). Might be good to have ancillary skills for some other kind of temporary or part-time occupation if or when trading times are tough.
And maybe get a job working as a trader. Maybe topsteptrader.com to get started. Working at a brokerage or fund to see how things are set up. To summarize you could be a genius and a super achiever like the next Big Mike or something, but definitely finish up your GED.
If you can do that well with your current record, then I'd suggest to make it work for you. Consider your profits as funding for your "research". With 15/hr day work/study habits you should have no problem finishing the GED. Then consider taking classes at community college. Perhaps intro to business, intro to entrepreneurship, and accounting. Maybe you can go for a certificate or 2 year degree. Just saying all the classes taught in school and college aren't worthless (although many classes are lol). Might be good to have ancillary skills for some other kind of temporary or part-time occupation if or when trading times are tough.
And maybe get a job working as a trader. Maybe topsteptrader.com to get started. Working at a brokerage or fund to see how things are set up. To summarize you could be a genius and a super achiever like the next Big Mike or something, but definitely finish up your GED.
Hello everyone,
Thanks for your replies.
I haven't been keeping up with this thread the past week, and I will tell you why.
Firstly, let me say that I have begun a Bachelor of Business (Financial Planning), with the goal of getting an MBA.
Also, I have recently researched and become aware of Proprietary Trading firms in Australia.
As such, I have stopped my swing trading, and have started practicing my day trading strategy.
I plan to apply to them, and to do so, will obviously have to prove my day trading success during their simulation month.
Thanks for your replies.
I haven't been keeping up with this thread the past week, and I will tell you why.
Firstly, let me say that I have begun a Bachelor of Business (Financial Planning), with the goal of getting an MBA.
Also, I have recently researched and become aware of Proprietary Trading firms in Australia.
As such, I have stopped my swing trading, and have started practicing my day trading strategy.
I plan to apply to them, and to do so, will obviously have to prove my day trading success during their simulation month.
Learn well and some of it will fit into your future.
Trade well and prosper.
On a personal note, we may just slip down your way in a year after checking out Thailand, Malaysia, and Indonesia. We are looking for a winter place. Plus, I still fancy myself as a surfer (5 years at U of H) and would like to do the Endless Summer thing in Australia. It's like riding a bike, right ? ...... never forget.
Trade well and prosper.
On a personal note, we may just slip down your way in a year after checking out Thailand, Malaysia, and Indonesia. We are looking for a winter place. Plus, I still fancy myself as a surfer (5 years at U of H) and would like to do the Endless Summer thing in Australia. It's like riding a bike, right ? ...... never forget.