Discussion in 'Professional Trading' started by kidPWRtrader, Sep 3, 2007.

  1. sjfan


    Ah - sure, let's stay ignorant than. "The smart ones know what they don't know. The idiots believe they know everything." - See, I can come up with superficial and witty statements too.
    #11     Sep 3, 2007
  2. Ok... the U of A business school FYI is actually pretty good as far as public Universities are concerned. We routinely rank top 3 in MIS and entreprenurship, for example (of all public universities).

    Anyways, that's not the point. Eventually I do plan on going to a better grad school.

    I know that I can't read a few books on TA and trade successfully. I've read about 15 books right now on TA and I still am not anywhere near where I would like to be.

    Thanks for the input on the sell/buy side stuff, though.
    #12     Sep 3, 2007
  3. I'd say that getting a degree in either psychology, computer sciences or economy would help a trader not hinder him. Understanding theoretical aspects is necessary to guide the trader in his decision making proces.
    #13     Sep 5, 2007
  4. I reccomend not paying six figures to go to college unless you are a rich boy with mommy and daddy paying.

    You will come out with big debt, a piece of paper, and in competition with others finding a dead end job struggling to get ahead(unless you come out with a specialized skill)...then its worth it.

    If you have ambition, some brains, start working now while your young, bust your ass, save some money and invest wisely. Work 2-3 jobs around the clock if you have to. Get laid, party on the weekends with the spare money.

    Bottom line. College costs too much. It's all how you deal with people and interview and who you know. GLTY.
    #14     Sep 5, 2007
  5. mde2004


    UAB brotha, I will see you in class next month.
    #15     Sep 5, 2007
  6. disagree. With almost everything in this post. College graduates make almost twice as much money as high school grads.

    College is not just about making $$$. It is also about getting an education.

    At least go to community college for 2-3 years if money is a problem. Then do a state university. But the point of learning some science, math, history, language, english, communication and other stuff is to not go through life devoid of understanding the world and people around you.

    Spend enough time around people who think education is a waste of time, and you will find a lot of one dimensional thinkers who have little concept of interchange and learning
    #16     Sep 5, 2007
  7. My post was not meant to discount education. I have a BA and an MA myself. I currently work in a field totally unrelated to my education (as do so many, many others). I trade part time during the AM session. Baldwin was a very successful trader (to say the least). Education can get in your way with trading causing you to have biases and as Marty Schwartz says in MW: "I thought of it, therefore it must be right." (or something to that effect). To be a successful trader you have to be able to admit you are wrong. I still grapple with that one but the market has a was of "teaching" me.
    #17     Sep 5, 2007
  8. Agree with this 100%. You can't go wrong getting a college education.
    Don't let anyone bs you otherwise.
    The market will always be there for you when you get out (barring a nuclear planetary implosion, in which case, it wouldn't matter much anyways). The time to finish college is while you're still young.
    #18     Sep 5, 2007
  9. You get a better education being street smart and dealing with people then just in books. Most of the crap you learn in college is useless in the real world. It's all memorization on tests and regurgitating other people's ideas in essays, papers, etc...waste of time most of it. Hands on stuff is better learning for a skilled job where you come out with a specialized skill that separates you from the crowd. Colleges have become wastelands.

    I went to a Community College and then a State school actually to make it more financially feasable. Yeah, it was fun, went through the motions in class, got laid, partied, etc. Worked my ass off in summers to have beer money, make payments living off campus for bills, loans to pay tuition, etc. All the while knowing and hating the fact I will be in huge debt to start out in life. Fight to get a good job, impress your boss, commute everyday doing the 9-5 thing. All the while singing I owe, I owe, I owe, off to work I go. I feel like a follower and not a leader. Rat race, company politics, etc gets to you.

    You want to get married maybe, buy a house, etc. How the hell are you gonna do it? Job sucks, you're in debt from college and not getting ahead working for someone else. You had these great ideas before college to make it big but got sidetracked because you are brainwashed to go to college, work for someone else, and basically be miserable and follow the herd. You say fuck this and quit.

    You are naturally bright and ambitious and money savvy. School can't teach you that. You take a chance and invest in your business on the side while still working. It works out great...You are now making more than your boss and working on your schedule, doing what you want when you want. Don't have to beg for vacation time and feel guilty...Good things don't last so you strike the iron while its hot and bust your ass anyways. Socking money away and not being stupid. The business is now not as lucrative. Thank God you saved for a rainy day.

    Hey, now you can trade full time. That was always my calling. Some of your trades in the past made more than your yearly salary at your old job (35-40k a year). You are used to making six figures a year and want to match that trading. You screw up a few trades and get greedy. Oh shit, fast money is not easy anymore. Hey, you took a few chances...maybe slow and steady wins the race but you're not getting any younger? Maxing out that company 401k each year and ROTH IRA was the way to go. Maybe I should go back to working for the "man" and have a structured life again? My trading account is beaten up but my retirement savings is well in tact. Well thats part of my life story... sorry for the rant

    Hey, I have a college degree to fall back on right? Now, I'm back to where I started.

    I respect your opinion on college. It is good to have but for I look at $$ signs. I figure while your young to hustle and have fun. Use the power of time and compounding of money to get ahead financially. That 4 years you spend in a classroom paying the school and babysit to learn most stuff you already know or can learn in any book in a library. The drunk college girls, drinking, carousing is my best memories but is it worth six figures nowadays? If you are putting yourself through college, I have respect for you. If a scholarship and grants, more respect. Mommy and Daddy who have to borrow against the house, dip into their retirement because you are a spoiled rotten kid, get lost. Maybe I'm just jealous of the people born into money and don't understand the value of a hard earned dollar.
    #19     Sep 5, 2007
  10. DrOlmifon


    Ah to be an underclassman again. Forget being a trader, it's a frivolous endeavour. Those who tell you otherwise are fooled by their own previous exposure to randomness. With ivy league grad school you'll be able to land a junior investment banker position.
    #20     Sep 6, 2007