College Students and Grads.

Discussion in 'Professional Trading' started by Don Bright, Jun 12, 2003.

  1. I have no problem with you offering an alternative to grad school, or even college for that matter.

    However, a student and their parents should know full well the potential risk, and the odds of success.

    It is great to offer an opportunity to someone, but there should be some reason, to think a college age kid is going to have success where so many others have failed.

    I have suggested this before, but I doubt you have done anything in this regard, as I think you are less educator and more salesman.

    Most universities, including grad school require entrance qualifications. They have learned over time what tests to give, and what performances at the undergraduate level put the potential to a test of future performance.

    Sure, just like trading, there is no certainty that a good score on a GRE, LSAT, GME etc. will ensure a graduation, or even a job after graduation.

    In your industry, one would think after training umpteen candidates for a career in training that certain personality traits or objective traits could be seen with the success, and failure.

    This provides an opportunity to perform screening to weed out those who have no business trading but are just pipe dreamed up, nor do they have the mentality/psychology/maturity/work ethic to have success as a trader.

    If you say, we can find no commonality among traders, we cannot predict who will have success or failure, then it indicates success is random, and all you can offer someone is a chance to play in a random career.

    If you were legit, you would require entrance exams for those at student age, or higher for that matter....and no, series 7 isn't a good test of what it takes to be a trader.

    When I see you give psychological testing, and approach the recruitment process scientifically, and not just as a salesman recruiting commissions and training fees, I might take you with some degree of seriousness beyond a car salesman in the trading industry, and give you some credit as an educator.
    #31     Jun 16, 2003
  2. have college degree--- fail at trading or business ownership--have college degree.

    don't have college degree--- fail at trading or business ownership-- have nothing.

    the first option makes sense, the second one does not.


    #32     Jun 16, 2003
  3. If you were legit, you would require entrance exams for those at student age, or higher for that matter....and no, series 7 isn't a good test of what it takes to be a trader.

    Well "If I was legit" I would offer an opportunity ....not a false promise based on some form of psycho-babble testing ...for something that cannot be determined (trading ability). So, when you can come up with a test that will insure successful trading, then we can chat....until then, or when Hell Freezes over, I'll just try to be happy with offering opportunities to those who have the desire or drive to become traders.

    No one dragged me kicking and screaming to the stock exchange when I chose to take an opportunity, and I don't expect anyone to be dragged into BT or any other venture. I don't underestimate those on this board, and certainly don't underestimate traders in general.

    #33     Jun 16, 2003
  4. Do you know that professional athletes, are given psychological testing, what you call psycho babble, before they are drafted?

    Why? They are just physical specimens, right? What the hell could a psychologist find out from testing an athlete? They can find out a lot. In the case of Ryan Leaf, the Chargers ignored the psychologists who said he was not a good pick because of his emotional instability...the psychologists were right. They have discovered over time that the mental state is as importrant, if not more important that the physical tests.

    Of course, they are taking a risk when they sign someone, they are putting money at risk....unlike your firm which makes money even when someone fails. As long as you can get an never ending stream of suckers, business as usual.

    You are a hypocrite Don, pure and simple. You talk of education and opportunity, but you won't take steps to elevate your business out of the slime and bucket shops. You suggest recruiting college students, yet you won't take steps to qualify those who want to become traders.

    You are just another commission man, churn and burn.
    #34     Jun 16, 2003
  5. nitro


    The whole thing of psychological testing of students is such crap it's unreal it is even being suggested.

    Offering 3.0 GPA students the chance to trade is a good one for both them and BT. For the student in that at a very young age, they can test themselves to see if they have what it takes. For Bright trading, more potential good traders - sounds like a match made in heaven to me.

    As far as the psychological testing of a decent student already, I cannot imagine what MORE a psych test would give than the fact that having made it this far in their life with a decent success in school is going to give. You need a certain amount of brains, work ethic, and psychological make up to be a good student at a University.

    However, all that said, I WOULD NEVER GIVE UP SCHOOL TO GO TRADE. I would do both, and the chance to INTERN at a summer job, for those that have the thirst to do so, is a great opportunity.

    #35     Jun 16, 2003
  6. When, and if, you ever learn anything about "my" business, we can chat. As long as you remain a spineless jerk, hiding behind an alias, throwing darts like a coward, offering nothing but BS to the board, then we should limit our responses. If you really think some testing would help, you should perhaps think about taking the BT test that we give to all new people. You may want to get back to cartooning, it fits you better....

    Don (the churn and burn) Bright lol
    #36     Jun 16, 2003

  7. Psychological testing is applied to all types of people who undergo stress in their jobs, from policemen to air traffic controllers.

    Why? Because it is an accepted fact that people perform differently under real stress than they do under normal or simulated conditions.

    To assume that trading, when real money is on the line, not simulations or paper trading, doesn't generate stress and thus impact decision making for a trader is absurd.

    Psychological testing can reveal those who do not have the emotional makeup to handle the losing, which after all is the hardest part of trading.

    Psychological tests can measure how well someone can make decisions in times of stress, where seconds can make a difference in the life of a trader.

    It is foolish, and irresponsible in my opinion not to test those who want to be traders, to help them see their psychological weaknesses.

    If Bright trading was investing in traders, rather making money off of the investments of the traders, win or lose, they would employ a more rigorous method of screening and testing before they put their money at risk.
    #37     Jun 16, 2003
  8. Always enjoy your low class ad hominem attacks. Touch the nerve, get the response.

    Class all the way Don, pure class.


    #38     Jun 16, 2003
  9. Like I said, keep to the cartooning.....much more meaningful.

    #39     Jun 16, 2003

  10. i totally agree with this nitro. trading is an awesome way to make a living and so inclined young people should definitely try it, be it with bright, another prop shop or on their own. however, what one should NEVER do is give up an education to try to make it as a trader. to suggest otherwise is pure folly


    #40     Jun 16, 2003