Does it help to work in NYC?

Discussion in 'Professional Trading' started by windsorphd, Dec 14, 2006.

  1. Are there any (dis)advantages to working in NYC as a day trader?

    I am an engineer currently in NYC with some passive income streams that will allow me to try and make a transition into f/t least until the losses become too painful to bear.
  2. Ebo


    Other than the 3 cold winter months and overpriced escorts, NYC is as good as any city to trade!

    I personally prefer Puerto Banus or Buenos Aires.

  3. zdreg


    am I correct that you are currently in brazil?
  4. Ebo


    NYC until January 2nd.
  5. zdreg


    where are you currently based?
  6. NYC is an expensive city, both in terms of cost of living and tax structure. So on both those counts its a lousy place for a day trader to be based.

    However, a lot of smart people who know a lot about markets live in NYC, and if you can find a way to spend time with them, you are learn a great deal and broaden your perspectives .... and that's worth something.
  7. zdreg


    NYC being expensive is an urban myth. tokyo is rated as most expensive. london is 10
    new york is #27. these surveys are based upon list prices. since nobody pays list price in ny the city is actually lower on the list.

  8. I'm not just relying on a bullshit survey to form my opinion.

    I've spent a fair amount of time in Tokyo, London, New York, the Bay Area, Shanghai, Singapore, Bangkok and I can tell you what restaurant meals and apartment rentals cost in those cities.

    Believe what you will, but your cost of living visibly plummets even as you cross the East River from Manhattan into Brooklyn.

    If dollars and cents was your only consideration, there are much better places around the world to trade from than NYC.

    Furthermore your survey is hopelessly out of date. Anyone who has been to Tokyo in the past 3 years can tell you that in many aspects, the cost of living in Tokyo, even in nice districts like Ometesando is cheaper than Manhattan. And the cost of rent, transport and eating out in Zone 1 in London is simply painful.
  9. bl7077


    No it doesn't.
  10. Tuneman


    youve never been in NY before
    #10     Dec 15, 2006