Here's the thing, I'll try to be as brief as possible... - I'm 21, about to graduate from ASU with a degree in computer system engineering - Currently I'm interning at Intel, and will most likely recieve a good job offer after when I graduate in a few months - I've been trading actively since I was 16ish, and have had a major interest in playing the stock market (I dont know why I didn't major in finance...) - I've never daytraded, but have been an active trader holding positions for an average of about a few days to a week - I've read many books on finance, technical analysis, day trading etc - I've always wanted to be a daytrader, but never had the time for it, mostly due to school and work - My plan was to continue at Intel after I graduate and continue to trade on the side - BUT THEN I find this.. http://www.northwesterntrading.com/brokerage/proprietary.htm My questions are... A. What do you think of that program B. Should I go "all in" (as they say in poker) and risk it all? BTW, I have enough capital besides the 5-10k deposit they require, to live off of for about 4-5 months... IF I decide to become a daytrader with them I will paper trade beforehand, start slow, make sure to RE-read the books ive read on daytrading, etc...
I say go for it! The market needs a few more $$$. Today is an example. The more dumb moola pours in the better for whoever is around to take it. Oh, and btw don't say "take this job and shove it" to your boss at Intel 'cause you'll be back in no time.
I think you underestimate people's intelligence on this board. Because if your story is true which I really doubt you are a fool to even think about prop trading with a company nobody has ever heard of while you can work for INTC with bright prospects. Otherwise you are doing a little better than most promoters with a new twist in the art of promotion: the newbie question
Stick to your plan. Learn to trade on longer time frames on the side. If you can master these, then and only then, try day trading. The smaller time frames are much tougher for most. peace axeman
if you have living expenses for a year you should try trading. Your risk( a year of your life) to reward(a career in trading). You are better off learning at a firm that does not require capital which they ,ay not have where you are at. Please realize that the odds of making as a successful day trader in todays environment is less than 10% but at your age it is worth a shot.
OK wow...some very negative responses... I'm not sure whether those were in response to the fact that people thought I was trying to promote a firm or whether day traders hate newbies... To Kicking: I guess that would have been a good way to promote such a site though, and trust me, I hate advertising too! First off, Im not one of those newbies with no idea of how to trade. Nor am I an expert, but I do have about 4-5 years experience. Secondly, my "story" is TRUE. I can email you from my ASU AND my Intel account if you want. I dont know which prop trading firms are legite or a "company nobody has ever heard of", because honestly I dont know anyone in the industry (of daytrading) or even near wall st. I thought I could come here and find out... Anyways, a quick search on google for "Proprietary Trading" comes up with a bunch of firms. Maybe I should look into a company that seems more legit? Although a person from NorthWest did call me back and it seemed like a good program. I really dont know at this point.
May help to post your track record. % return on equity each year you have traded. Have you beaten the market every year? By how much? I think the negativity comes from realism. This is a very tough game few people have the skills or tenacity to survive in. The best advice for MOST people is, DONT DO IT. peace axeman
read this book and see if you still want to do it, click on next page link http://www.amazon.com/gp/reader/0071381562/ref=sib_dp_pt/102-3193473-4108910#reader-page
What is wrong with Intel ? If they make an offer try it out for a couple years and see if you like it first. Intel like most of the Silicon Valley firms has become a much less attractive place to work but the work there is interesting and I doubt you will be challenged at trading like you would attempting to build the next generation chips that Intel is working on ...... One you work inside Intel - I have as well as other Silicon Valley companies - then you will get a true veiw of the merits of the company and its committment to its workers.