I need some guidance on a career in trading...

Discussion in 'Professional Trading' started by Finance Grad., Feb 28, 2007.

  1. You are mixing apples and oranges. There are really only two types of trading jobs.

    The first is one where you enter in some type of support capacity. This might be for a reputable firm (Citadel, etc) or a smaller, but successful group (Jane Street). They pay you a salary like any other job. And like any other job (or a least one with a future), you develop a skillset that acts as the basis for your progression. Such a track is not all that different from working in any other position in any other industry. The difference lies with the fact that if you become successful by taking such a formalized path and are able to trade for a living, the capital markets are set up such that your earning potential is virtually unlimited.

    The OTHER type of trading job is that of a prop trader, daytrader, or loser - whatever you want to call it. This type of trading preys on the millions of fish out there looking to get rich quick or the recalcitrant immature pricks who have to waste the first 10 years of their professional lives jumping from job to job before realizing that they aren’t all that special. Daytraders in the US don’t make any money as spreads are extremely tight. Daytraders have always been paid to provide liquidity to the market. They get paid for the risk they take by making market. That function is no longer needed and you literally cannot make any money trading.

    So, if you are looking for advice and you are passionate about the financial markets, take the trading assistant job with a reputable firm and ditch the get rich quick mentality.
     
    #51     Mar 5, 2007
  2. ggoyal

    ggoyal

    u can't get rich quick. unless u inherit it or win the lottery. but if u stick with ur plans and sincerely work towards it, u should be able to become rich. im trying to. i took the trading course spent 5K for 5 days. im not rich right now, but i know soon i will be. i am working on my trading techniques and trying to better it everyday.iam making money from it and hopefully in a year or two, i should be making what i have in mind.
     
    #52     Mar 6, 2007