Did I make the right decision?

Discussion in 'Professional Trading' started by drasfs, Sep 6, 2009.

  1. drasfs


    Have I made the right decision?

    I’m 22 years old, and I was studying my last year in my 4 year economics degree, and I would get an Ms. However I jumped of my degree and moved to the capital city and started working for a brokerage firm full time 60 hours a week and during the holiday working as an insurance agent, totaling 75 hours work a week. However I only need to complete a course to get a bachelor in economics (three years full time study), and I will start this course in February 2010, and thus get my bachelor in 2010, with an age of 23 years.

    I’m working for a Forex brokerage firm and my work is to call people and persuade them to investment money in managed accounts, where I get a fixed percentage of the investment made. The firm firmly tells me that my work is called FX broker, however I think am just a plain phone seller as am not acting as an intermediary between a buyer and a seller.

    Other background information: I’ve been trading currencies for 5 years. I can trade currencies successfully and make about 300 pips a month. My ultimate goal in life is to become a currency trader working off home. I do however not have enough capital. I’ve calculated that I can save about 40k USD in one year time, and then quit booth of the jobs I’m currently holding and then day trade currencies on my own, and live for free at my parents’ apartment. I can alternatively or simultaneously start my own company where I sell signals, with a proven track record, and let people try the service for free for two weeks, and upon completion of the two weeks period they have to pay a certain amount of money to continue their subscription. I will be deemed credible to some extent since I’ve a bachelor in economics, and been working as a broker for a major brokerage firm. If I can’t day trade currencies successfully off my home, I do however at least have a bachelor in economics, and and experience working for a major broker firm and as an insurance agent, and can then look for other economic related jobs.

    Or I could quit both my jobs upon completion of my degree 2010, and then look for a good study related job. I will then have one year experience working as a “broker” and as an insurance agent and have more money in my account. Or I could have continued my fourth year and not have these experiences.

    Did I make the right decision, if:

    1my ultimate goal is to become a currency trader working off home?
    2 my ultimate goal is to advance in the finance business?
  2. Mach4-1


    Some things don't add up here, but we will go on what is written.

    1. If you have put time and effort in to a degree then finish it - too many throw away years of hard work and you never know what the future will bring.

    2. As you finish your degree continue trading and become better and better - make more money - with a goal to be able to make enough money to live off when your degree is complete.

    3. Forget about selling services to others, as you are wasting your time unless you are a liar and a cheat which it looks like you are not.

    4. Trading for yourself is where the real money is and this should always be at the forefront of your mind, each and every day - if you do this it will happen providing you let it happen.

    Now, some reality checks.

    I doubt you can make 300 pips per month on a continuous basis- just an observation from reading what you wrote.

    Successful trading requires a lot more than a few strategies that are based on Fibs or MA's - you must know when and where to move so that you maximize your return - else you will just end up like most and give it all back to some granny who is sitting on the sofa with her laptop, clicking on the wrong buttons, but she still wins!

    Happy Hard Work - oh sorry, I meant Trading:)
  3. I'd 2nd all the above. As far as your trading ability is concerned I have no idea if you are for real, but 15 pips a day isn't exactly setting the world on fire. The margin is too tight so personally I'd sack you unless I could get more out of you, and you sound like that is possible.

    So while you are studying set yourself a goal of developing your technique and increasing your pip score substantially. Don't rub shoulders so to speak with small minded traders who make you feel good. Find guys that kick your butt and make you dream bigger.

    The Fx broker you are selling (oops trading) for... I take it they trade for clients? How are they performing? Make some calls and get a reputation and you might get moved to a trading desk, depending on how frequently you trade and how they scam, er I mean charge the clients.

    Good luck to you. Sounds like you have potential.
  4. Don't you see ? make you feel good...