I took a year off after I completed my first year at a solid university in a finance and business program. I had high marks and did well but I wasn't too sure what I wanted to do with my life. I kind of fell into trading and it has been pretty successful. I have been doing it for almost a year and have made just under 50000. Not huge money by any means but decent money for a 19 year old. My question is do I go back to school or continue to trade. My family, friends, and society is telling me to go back and just get the education done with. Would it be smart to have a solid degree in my pocket in case trading doesn't work out down the road. Or should I say screw it and continue to trade. I probably would be able to trade on a part time basis if I went back to school but the majority of my time would be put towards school. PROS about going back to school -getting a solid degree -become more employable if trading doesn't work out -able to work on trading skills on part time basis -have half of my tuition payed for because of remaining scholarships CONS -not put enough time into trading, stop making $, put trading on the back burner while I focus on school -lead a more stressful life because when I am in school I tend to stress a lot about grades that are somewhat necessary to land good co-op jobs any advice is welcome and appreciated. thanks for your time
If you believe you can sustain a successful trading career I say go for it, but I tink it would be beneficial for you to get a degree that helps ur trading, aka financial mathematics etc.
Not entirely related, but may I ask how much you started with? And don't forget, most colleges offer night and weekend classes.
Could you do trading other than intraday? Could you schedule your classes so that you could spend part of the day in the market? You might be able to to both.
Congrats, you're living the dream. Some friends of mine went off to serve in the armed forces, then go back to school In your case, I'd say keep going, put all your time into your trading, and save enough for tuition at least. Lots of people I know want a reason to retreat back into academia. They switch careers, becoming lawyers, getting mbas, ect. You've got it made, just keep banging it out and save enough to be able to pay for your tuition. You'll have a real opportunity to put your education to use after having this experience, taking the classes you really enjoy/have an interest in because you'll know what you want to do with that education after trading. best of luck
I would secure another source of income first, get a decent education or vocation, and be able to support yourself living very frugally, and at the same time have the ability to raise a grubstake when you blowout your initial one. there is a traders tuition most everyone pays, to learn the ropes. This tuition disheartens most. But your very flexible mentally and able to look at things differently then most, you should eventually come out on top. Aim for homeruns with very conservative form of risk management. Trading is very costly: 1) grubstake 10,000 2) internet access/cable mode 50 per month 3) charting software real time 250 per month 4) apartment studio 600 per month 5) electric 50 per month 6) water 50 per month 7) food 500 per month 8) cable 60 per month 9) computer 1500 10) gasoline 200 per month 11) health insurance ? 12) cloths 500 per month 13) beer 500 per month as you can see if trading is the only source of income, you have to be able to meet your monthly needs or expenses.
CON? somthing with the market could drastically change and your edge is gone, and youre left with no fall back
500 a month for beer??? you drink a dozen a day or somethin? being an alcoholic and trading don't pair well bro.