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emg
Registered: Feb 2010
Posts: 5318 |
01-17-12 06:29 PM
Quote from emg:
2 months of live trading day trading in the es. i don't think so. need to give yourself at least a yr or 2.
Your system has not prove yet.
i take that back about 2 years. It should be Higher Education is the key to become a successful trader. The reason i take that back is, i didnt realized back then how lower educated most elitetrader members are.
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2steps
Registered: Dec 2011
Posts: 85 |
01-18-12 02:48 AM
Quote from emg:
i take that back about 2 years. It should be Higher Education is the key to become a successful trader. The reason i take that back is, i didnt realized back then how lower educated most elitetrader members are.
How "higher" is the education?
I heard many people with PhDs blew up, and blew up quickly.
Are you going to say that "medium" education is the key to success? or "slightly below medium"?
If you endorse "slightly below medium," I would be very appreciative, because I fit that category. Your endorsement will give me hope.
Thank you in advance.
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jo0477
Registered: Aug 2010
Posts: 220 |
01-18-12 03:09 AM
Quote from emg:
i take that back about 2 years. It should be Higher Education is the key to become a successful trader. The reason i take that back is, i didnt realized back then how lower educated most elitetrader members are.
Wow, at least you're humble and don't feel the need to talk down to other members... Seems to me there are some pretty smart people on these boards - formally educated or not.
I'm not sure what your level of education may be but I'm sure it taught you the words "just" and "lose" since you seem to have those down pat.
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RXIS
Registered: Jan 2005
Posts: 669 |
01-19-12 11:05 AM
Quote from jo0477:
So glad I found this thread, great read and I've enjoyed all the responses. (Sorry LF, not trying to hijack your thread) 
So I'm posting b/c I've been f*cked for the last time! I've had 3 corp gigs and all are/have been an absolute nightmare. I really thought (naively I'm sure) that this company was actually different... nope
This time its worse as I got royally screwed for trying to be honest and helpful. Anyone who buys into the "more than a boss but a friend" and "we care about our people - people are what matter"... bullsh!t. They will turn on you in a heartbeat and boot you in the ribs when you're down. Working hard, extra hours, excelling in your position (which I was told was the case) mean nothing. It really doesn't matter what you did last week, last month, last year and so on. You're a number on a section of the balance sheet. One company I worked for, I actually heard the president tell a VP (in a drunken haze) "I make money by finding smart but desperate people and paying them cheap". Another favorite from a regional manager "gotta keep 'em scared, the only way to keep these guys in line". Well 3 strikes and I'm out.
So If I want to trade full time, here's what I figure I'm in for. I have some experience but Like everything, it will take time. I've started jobs with zero knowledge and those have taken at least 6 mths to even get a feel for whats going on. Experience and "doing" is IMHO, the only logical direction from where I'm at.
Pros:
Freedom
Happiness (thx to the previous posters who understand that dollars are not the be all of end all)
Challenging myself: Things go south, its on me and no-one else
Doing something I love and devoting time to making a life on my terms
Making $$, no more, no less. And I don't mean millions overnight - I mean getting to a point through hard work and study where I'm living comfortably.
I can afford the capital and time - possibly my last chance in this lifetime to really give a shot at what I've wanted to for years but was too afraid to give up my paycheck.
Cons:
Odds stacked heavily against me, I completely understand this going in
Learning curve - I'm going to lose some $$, I know that this is inevitable. Mistakes will be made, I just have to apply the risk mgmt and discipline that I am currently using personally and professionally to mitigate losses.
Stress, emotion, all the human aspects of trading that inevitably rear up, I'm sure even for the veterans out there. Getting ready for high highs and low lows and how to manage this multiple times daily.
Lack of a secure, regular paycheck... but thats what I figure a wife is for  kidding ladies
So keep the posts coming, I've enjoyed each and every viewpoint
LF, really like this thread. It brings forth much reflection.
jo0447, I feel ya, but I've done sort of the same. What can I say? its business and I had a boss who demanded it. Hiring "desperate" type people is a common practice. Managers often times seek out people with lots of student loans. People like to hire though networking so they can know a bit about the prospects. Although an employee with bad credit may not be desirable, but having lots of student debt, a mortgage, and car loan is indicative that the employee will work like a dog.
Steven.Davis, Just wanted to say you have some great posts.
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Chagi
Registered: Sep 2004
Posts: 1059 |
01-19-12 06:20 PM
Quote from jo0477:
So glad I found this thread, great read and I've enjoyed all the responses. (Sorry LF, not trying to hijack your thread)
So I'm posting b/c I've been f*cked for the last time! I've had 3 corp gigs and all are/have been an absolute nightmare. I really thought (naively I'm sure) that this company was actually different... nope
This time its worse as I got royally screwed for trying to be honest and helpful. Anyone who buys into the "more than a boss but a friend" and "we care about our people - people are what matter"... bullsh!t. They will turn on you in a heartbeat and boot you in the ribs when you're down. Working hard, extra hours, excelling in your position (which I was told was the case) mean nothing. It really doesn't matter what you did last week, last month, last year and so on. You're a number on a section of the balance sheet. One company I worked for, I actually heard the president tell a VP (in a drunken haze) "I make money by finding smart but desperate people and paying them cheap". Another favorite from a regional manager "gotta keep 'em scared, the only way to keep these guys in line". Well 3 strikes and I'm out.
So If I want to trade full time, here's what I figure I'm in for. I have some experience but Like everything, it will take time. I've started jobs with zero knowledge and those have taken at least 6 mths to even get a feel for whats going on. Experience and "doing" is IMHO, the only logical direction from where I'm at.
Pros:
Freedom
Happiness (thx to the previous posters who understand that dollars are not the be all of end all)
Challenging myself: Things go south, its on me and no-one else
Doing something I love and devoting time to making a life on my terms
Making $$, no more, no less. And I don't mean millions overnight - I mean getting to a point through hard work and study where I'm living comfortably.
I can afford the capital and time - possibly my last chance in this lifetime to really give a shot at what I've wanted to for years but was too afraid to give up my paycheck.
Cons:
Odds stacked heavily against me, I completely understand this going in
Learning curve - I'm going to lose some $$, I know that this is inevitable. Mistakes will be made, I just have to apply the risk mgmt and discipline that I am currently using personally and professionally to mitigate losses.
Stress, emotion, all the human aspects of trading that inevitably rear up, I'm sure even for the veterans out there. Getting ready for high highs and low lows and how to manage this multiple times daily.
Lack of a secure, regular paycheck... but thats what I figure a wife is for kidding ladies
So keep the posts coming, I've enjoyed each and every viewpoint
So much truth in this, particularly hiring employees that really, really need the job.
For example, there are regular news articles in Canada re: approx. half of Canadians would have financial difficulties if ONE pay cheque was delayed. One!!! How much do these people depend on their employers? How likely are they to start their own businesses?
What is even better is that many of these people don't seem to have any difficulties taking one or more expensive vacations each year. And everyone needs to drive a nice car and live in an, overpriced, flashy home. The ideal wage slaves...
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