btw. does anyone know how easy/difficult it is to get a job selling stocks/mutual funds at a decent bank? i take it pays better than selling cars and i know more about it.
You do not have a degree or MBA, most banks require that. You can try to become a floor broker by leasing a seat and finding clients and do brokerage + looks for them Any job that does not require a degree / MBA would be either 1) working for yourself (corporation) 2) Cold Calling Sales job (not for a bank though) 3) home depot job /low level etc.. 4) freelancing 5) become a chef and work 14 hours a day in the kitchen All jobs working for people with little/sales or performance related measurements all require a college degree. and most likely from an ivy league + experience.
Aye.. since you dropped out, you might not have much left for you to get a degree. Why not think about going back to school?
I can't believe nobody has corrected/strongly disagreed with/ mocked this post. Perhaps the above personality profile fits the semi-successful, five-figure/year grinder, but certainly <b>not</b> the seven figures+ high roller. Not even close!
First off, I'm sorry to see you go. Are you licensed? If you have the Series 7 &63 licenses you can go to a major discount firm. They'll probably hold your 55 too. I hear ET is paying $50K with bonus and they are aggresively hiring in Jersey City. You can trade your own $ while you work too. I gave prop trading a try for almost 3 yrs after working a an execution broker mgr with TD Waterhouse (not a real trading firm) for 7 yrs. I couldn't make enough money consistently so I left.Since leaving trading, I 've landed a good position as Wealth Mgr for BofA. Good salary and decent bonus potential. I Still trade small personal account once in a while though. Hopefully I can segway to a position on the institutional trade desk with my firm. Good Luck LL
Check out recruiting. It has a high failure rate too. Less then 5 out of 100 get it but the ones that do make good money. It is hard to teach. You either get it or you don't. If you get it then you can make 100k+ pretty easy and have the chance to have your own business one day. John
I had a client who was an established recruiter for Senior executiv es. He was making $750K/yr. However, I had 2 friends who gave it a try and left.
It's easy to say...."get a mentor", however finding a good mentor is a near impossibility for most newbie traders. The only "mentors" floating around are scam artists repackaging other "mentors" intellectual property. For a self-taught newbie, it's advisable to start with as little as possible because they'll blow up more times than they can count before figuring out the weakness in their psychology that the market is taking advantage of. Once they have a decent system figured out 20K is a pittance, you need a account in the mid/high 6 figures to scale in and out of trades comfortably without losing your position to every half-assed intraday whip lash. I taught myself therefore I know it can be done, but the time commitment necessary to prepare for success every single day is horrendous. I'm amazed at traders who post how they rolled their ass out of bed, turned their PC on and made 10K in the first hour, then went back to bed. How do these guys do it? just my 0.02 rant.
It's a tough business. Few people understand innately how to make things happen all by themselves. John
Hi Bachelier...your last sentence caught my eye...do you mean you have an idea for A movie or are you interested in the business of movie making? You are bored with trading which is understandble.... The advise my husband and I gave all our children is do what you love to do and the money will follow. The problem is getting from point A to point B. You might have an interest in the path of #1 son. Very creative kid, majored in sun glasses and girls at CU (Colo) and wanted to go into advertising but found that he didn't want to live in NY or Chi or really do paper type advertising. He did NOT want to do what his dad had done which was rather staid. He also wanted to be in the movie industry and we could offer no real guidence but told him he needed to start somewhere small and build on it. He found a local company that edited film and learned the business of film editing...company moved to Santa Barbara Ca and he moved with them. Learned as much as he could and moved to LA started freelancing for FX and Fox editing trailers for their shows...I would tell people he made trash trailers...anyway he continued to hone his craft building up a resume/clients and work/money followed. This last year he bought an avid machine and directed and produced several "spec" commercials...one he recently sold. Bottom line he is making ton's of money as there is a shortage of good editors in an industry that many people try to break into...but it did take time and he had to learn as he went. You don't necessarily have to have the education/training but you MUST have the passion to do well at anything. Your young and can learn. Figure out what you love to do then make a plan in writing as to how you will accomplish that goal then if you have to work at mickie dee's while you are on that path so be it. Best of luck and fortune to you. donna