I am putting this out here just to see if anyone has any good ideas or suggestions. I spent the 90's as an institutional salesman at a couple of big Wall Street Investment Banks. By the beginning of 2000 I was pretty burned out on the sales side and knew a few daytrader friends that were making as much money as I was (or more!). I decided to move to South Florida to start daytrading along with them. That was March of 2000.....great timing!!!! After 2 years of trading, I have had enough. Small profits, small losses and the feeling that I was always spinning my wheels was pretty much what dictated this decision. Now I am trying to figure out what kind of a business I can get going down here in South Florida, so I don't have to go back to NYC and Wall Street. I would like to draw on my skills as a marketer/salesman and my knowledge of the markets (I also have an Ivy League degree). If anyone has any ideas (besides being a broker!) or suggestions I would really appreciate it. Also, if anyone is in this part of the country and has a business, fund or some kind of operation that might be a fit with my background, I would also be interested in hearing about it. Thanks, SoFlaPartner
Were on the equities or fixed income end? And do you wish to remain in sales of investment products? WIll you consider some other business?
dgabriel - I was on the fixed income side, with a focus on selling relative value trades (such as treasury basis and swaps). I would be willing to consider all business ideas at this point in time.
I would love to hear some more of the pitfalls that you experienced as a daytrader since I may consider doing it fulltime one day... As far as Ideas in florida... I don't have much. Have you been to HotJobs.com... Good site lookup investment jobs in Florida.. I am sure with an IVy League degree you'll find something... Or gather enough private capital to start your own hedge fund.. Drawing on the experiences of your trading career and investment career...
How about starting a website where you make calls and then announce that you rule the FRIGGIN' markets? Note: if you say FREAKIN' Waxie's lawyers will be all over you so don't go there.
I still should do well this year(over100K). However, I would like to engage in other businesses. Also, I have been looking at ways to expand/improve my trading. However, every trader I've spoken to has not come up with any plausible suggestions on how to better trade this market. Read my posts http://www.elitetrader.com/vb/showthread.php?s=&threadid=5506&perpage=6&pagenumber=1 I'm near Coconut Grove, let me know if you want to discuss ideas.
I am also in the grove area ( the roads )...Do you trade prop or retail??? would like to exchange ideas.....
Why don't you explore opening orders on the NYSE? Seems to be working for a lot of traders right now. It may provide you with the bread and butter play to stay in and develop more strategies.
"I would be willing to consider all business ideas at this point in time." I'm sure the Cuban drug rings could use a smart guy like you to launder coke money....
If interested in a hedge Fund, I am an E-mini trader and am also interested in starting a hedge fund. I am living in Coral Springs.