Thanks a lot for the help, everyone. Nothing anyone's mentioned seems to be too far out of my league, and I've deffinitley gotten a variety of opinions on the field... I'm sure I'll make up my mind before senior year, and I'll let you know, if I remember this place. I might hang out here for a while, as long as ibanking/trading/brokering, etc. attracts me as a career.
tbh, if ur not supremely confident to the point where u are able to ignor everyone else's opinion about a career in trading, It's not for you.
Get yourself a solid education. The markets will always be there and you can always start trading. It`s much harder to go back to school when you are older and perhaps have a wife, kids, loans, etc. I am not saying that trading fulltime is a bad ideal to strive for, but being as young as you are I think it would be silly not to get an education. Think of it as diversifying your future and having more options.
You seem like an kid who needs some real career guidance. I don't know if you have potential or not, but listening to the guys on ET is about the dumbest thing you can do if you are actually considering a real career in the investment business (not that there's much of a business left these days). Most of the guys here never had a shot with the big boys. 1. This may seem like a weird first question, but bear with me - how's the math in trading? Does the career require a genius mathematical mind, able to do long division in a quick mental flash, or is a decent, basic grounding good enough? A lot of roles won't need any math beyond high school math. The jobs that do will require math you've never heard of and it certainly has nothing to do with how fast you can calculate in your head. Depends on your career path. 2. What kind of education is needed? Do you have to graduate from business school, is a position as a big broker at Goldman Sachs only available to Ivy Leagues? And what kind of courses should I be looking for in High School, then in College? A good school (not necessarily an ivy) is necessary. It gets you in the door and it signals that you've put up enough bullshit to thump your fellow graduates who are all talk and no game. In highschool, do what you can to get into the best school you can. In college, look for internships and other ways to further one-up your peers. 3. As a stock trader, are you allowed to invest yourself? It seems like, if you were the one ordering the buying or selling, it'd be illegal for you to take part in it. Yes and no. Yes in that you theoretically can. No in that there will be all sorts of personal trading rules and procedures (like you can't sell a stock you bought within 60-90 days, or you can't buy or sell certain restricted stocks). You certainly can't day trade. 4. How easy is it to climb the ladder in these kinds of careers? And where do you start, on average? Not hard if you want a comfy 200k-300k life (inflation adjusted). Cut-throat otherwise.
I totally agree with you. However, I don't think he is asking our opinion about a career in trading--he seems plenty smart enough to make up his own mind. He asks some excellent questions. Subjects that are interesting in school do not always play out the same way in the real world. I do not mean to discourage you whatsoever, only to suggest that you always continue to keep your mind open as your education and career path progress. If you find yourself on the right road, that is terrific. If not, don't be afraid to change horses, even in the middle of a stream.
IF ALL IT TOOK TO BEAT THE MARKETS WAS A Ph.D in MATHEMATICS, THERE WOULD BE A HELL OF A LOT OF RICH MATHEMATICIAN OUT THERE - Bill Dries I am a pro trader, last year I was up 34%. If you contact me privately I will send you a link to my website. It has a lot of basics on what it takes to become a pro and soon I will also post some trades. My performance in the last few years shows up as well. My website gives a starting point to new traders. I am not selling anything. Good Luck.
If I could do it again I'd take amuch easier route. Like a Dr. Engineer, lawyer. Traidng can be lucrative but very stressful and I'd say about 1% of people have the "make up" to do i...and about 0.00001% on this board do it. Beware of the E.T. "wannabe" They pretend they make $50,000 per month, 1,000% p.a. etc. There are a few good traders here....a few only though. Be careful who you lsiten to.
Dollar$and¢ents, You are young so get an education first. Decide where you want to go with your trading. Do you really want to work at Goldman or another big firm? Can you handle failure and pressure easily? Are you competitive? Do you like sports and are you athletic? A lot of great traders were former athletes as that can open doors for you. Can you think independently? Do you want to enter a profession with a failure rate at 95%? If you decide you want to go out on your own can you handle not making any money this month, next month and maybe for the next couple of years? You are only 15 so you have some time to decide what is really important to you. I guarantee it will change over time as well. These are just some of the things to consider before entering this field. If you cannot answer yes to a lot of the questions you are probably better off doing something else. Is the sacrifice to be successful worth it? That depends on whom you ask. But if are not 100% sure this is for you, then it isnât. Be careful where you get your advice from. There are a lot of wannabes out there. Good luck TM
If your seriously interested in the market than I would suggest to dedicate at least a month or two 6-8 hours a day of studying the markets to at the least form an understanding. Sense you're in school I would suggest to do something like that during the summer. You will not get far if you do not dedicate yourself 100%.