Advice - I want to Day Trade / Career

Discussion in 'Professional Trading' started by Philosophicide, Aug 6, 2017.

  1. _eug_

    _eug_

    All the Youtube channels that you mention are in the business of selling hopeium to unsuspecting masses.
     
    #21     Aug 6, 2017
    SimpleMeLike and ironchef like this.
  2. Overnight

    Overnight

    "I do intend to complete my degree, just because an undergraduate is like the bare minimum in education these days, but I may switch streams from Accounting to Finance or Management..."

    Dear God man, don't cross the streams!


     
    #22     Aug 6, 2017
    Visaria likes this.
  3. speedo

    speedo

    People like to pull numbers out of their ear..1%, 5% bla bla. The fact is no one knows what the rate of success is for day trading. The brokers have an idea but it is not in their interest to publish their guestimates. What we do know for certain is, the odds for success are low but the odds for success in many endeavors requiring heavy measures of effort, persistence, patience, focus, discipline and courage are low. What sets trading apart from the other difficult enterprises is a meager barrier to entry...fund an account (in many cases underfund an account) and you are in business.
     
    Last edited: Aug 6, 2017
    #23     Aug 6, 2017
    TreeFrogTrader and johnnyrock like this.
  4. No education needed. Get funding and go for it, someone's got to feed the system. Day trading is invented by brokers to take your money.
     
    #24     Aug 6, 2017
    SimpleMeLike likes this.
  5. drm7

    drm7

    Go to tradingschools.org and type in whatever "trading course" you have heard of. This guy pulls no punches. Very Very Very few are legitimate. Tim Sykes and Warrior Trading do not show up well according to the reviewer.

    Lots of scams out there.
     
    #25     Aug 6, 2017
  6. DeltaRisk

    DeltaRisk

    Stay in school. You need that money to trade. It's your choice but, the alternative to a 9-5 middle class life is McDonalds not day trading.
     
    #26     Aug 7, 2017
  7. newwurldmn

    newwurldmn

    The naïveté of youth
     
    #27     Aug 7, 2017
    DeltaRisk likes this.
  8. lovethetrade

    lovethetrade Guest

    Switch from Bcom to B. Computer Science or Engineering. There's an excess supply of business and commerce graduates, its practically worthless.

    A trading career is high risk also so i'd focus on programming so if things dont work out at least you have attained a skill that you can continue your career with.
     
    #28     Aug 7, 2017
    fan27 and Philosophicide like this.
  9. IF trading is really your life calling :

    * finish your accounting degree. This will make your parents happy, and put them in favorable terms whatever you later decide to do, as in their eyes you will have shown "consistency". Also, you never know if down the line, they'll be the one bankrolling your trading in whatever way.

    * trading: demo, demo, demo till there is no reasons why you should not go live ( trading approach sorted, psychology/"spirituality" sorted, lifestyle sorted, whatever else can be a barrier to success sorted).
     
    Last edited: Aug 7, 2017
    #29     Aug 7, 2017
  10. I'd never heard of it either. Apparently it's a Europe thing.

    As far as the "value of a degree" for trading.... likely no value at all unless it's mathematically related and perhaps you're intending to be a data mining quant.

    While I'm convinced most any non-science college degree is basically useless for trading*, I get solicited all the time by something called, "Day Trading Academy"... presuming to teach one how to day trade? I haven't looked into it, but the concept might be worth exploring for something similar wherever you live.

    * Exception for STEM. Science teaches how to observe, analyze, deduce and formulate a logical plan of action/risk taking... skills valuable in trading.
     
    Last edited: Aug 7, 2017
    #30     Aug 7, 2017
    Philosophicide likes this.