from some searches I have done it became obvious and apparent that a large percentage of ET'ers are busted IT guys who are wondering what is the next big thing for them and hoping that trading may be it
hmmmm, none of those poll options would really describe me... i studied computer science in school and have done a little programming since elementary school. Never really got into it bigtime, couldn't get a job in IT out of school so I ended up trading. I've done a little programming on the side for automation of trading tasks, but it's pretty minor stuff overall... mnx
"Busted IT" maybe not an accurate statement. There are clearly quite a few ET'ers who used to do quite well as IT dev or managers, just find that trading is a better way of life, that's all. The reasons are either more money, more freedom, more enjoyment, or a combination of all of the above, not necessarily "busted". It is impossible to work in an ibank, or an investment firm, and going to meetings with the head traders, and know almost as much as they do, and wondering why they make $3 - 5M, and the IT person would make $250 - 300. I will admit, I spent most of my career on the street doing tech, then switched over to doing analytics, then trading. It just makes professional / financial sense, that's all.
I spent 14 years in IT. The work I liked has been outsourced. I don't have the temperament to be a business analyst, or the patience to learn another language and see that work go off shore too. Coding and debugging was good training for chart reading and stock analysis. Time will tell if I can work for 14 years at this.
Yep. I used to work at Microsoft and then Intel. It seemed like a lot of work for very little glory, or respect. Writing software for yourself or for fun is nothing like writing software for a big company. Writing software for others is not fun. I didn't realize this until later. After a few failed software companies and startups, I just stopped writing code for other people. I slowly started trading at work, started coming into work late because I was trading, etc. I then just said to hell with it, joined a prop firm, and I've been grinding it out. Now, I mostly focus on trading. I'm a tape reader, but I intend to write some automated trading systems later.
Im a burned out coder, a shadow of my former self. I took out a big mortage just before the .dot com crash and found myself out of work one month later, couldnt find anything and started trading, lost half my savings that year trading and other half in living costs, was completely broke and thought i would lose everything. Luckily a friend got me a job before i went into serious debt. Now i still code, but for a pittance. It pays the mortgage, however i now make more trading than coding. But the uncertainity and irregular cash flow means i cant quit the day job just yet.
I took a stockbroker's job and turned down MSFT in 1986. I was contracting there and it was apparent that they were making an offer. My manager looked at me real funny when I told him that I already had the series 7 and I am moving on. Perhaps it was a chance of a lifetime to become real rich.......
What about a trader who wants to be a programmer? I'm trying to learn to code, but alas the only thing I know how to do is trade...
Community College for some who does not have the coding monkey genes. Real cheap and effective. But if I were you I would just get the coding done on elance or rentacoder.com