Hi, I want to quit my job. I really do. I have quite a nice academic education in business/IT and a "great" job in IT, that I suppose a lot of people would love to have. But I have lost interest in my field of work, don't like the place I work at, and would like to either found a company in finance/trading or start trading for a living myself. Or a combination of both perhaps. I'm not looking to quit my job and definetly don't think i will become a "millionaire in a year". All I want to begin with is to be able to make a decent living, working my own hours and being my own boss. If i get good, i guess more money is possible too. How much money is a _realistic_ amount needed for starting capital when starting to trade for a living? I guess it depends on how good you are... I don't spend a lot of money, I'm don't even have that good a salary, since I'm just graduated and have an entry position. I would hope to make maybe 3500 a month. I'm saving about 25% of my salary, and will be working for another year or so. My contract runs out next june, I don't know if it will be extended. It might, but I would like to start to do my own thing next summer or so. What are the kinds of companies involved in the trading/finance industry? I can think of different types of funds and managed accounts. It would be nice to hear some experience of other people, and maybe some advice and things like that. With best regards, elit
before switching careers, take some time off like 2-3 months without work and find if you really miss it or not. changes should be quiet and side running because most of us do not know ourselves as we think that we do.
Toc, That's a good point, Thing is I'm just working for the money. Period. I'm not in it to be able to socialize with people, like many people are. and so on... Just the monthly salary. I mean I can think of a long list of things I hate about work, and the things i like about work is probably just the salary (even if it's too small) and the free coffee. Maybe even the free jacket i got! Even if I don't detest the people at the office, most of them anyway , I don't enjoy their company either. Especially not the bosses. I would not spend my spare time with my collagues. I'm more of a lone wolf than a team member. I have friends that I enjoy spending with, but I enjoy sitting alone at home. I've done that quite a lot in my education, while writing my thesis etc.. I understand that trading/starting a business takes a lot of time in the beginning, but I also have a belief that with years of experience it gets rather easy, and that you thereby get more spare time, or at least lot more money. Maybe it can even be automated? If you work at a company for say 10-15 years you might advance in your career and get bigger salaries, but in the meantime you often get more work and responsibilty also. If you don't like to get up early in the morning, sit in your car on the way to and from work for an hour (?), can't understand why your collague gets 10% or more pay than you for the same work only reason being that he has worked for some years longer than you. Probably you start enjoying the collegues more like friends too, I don't know. The good thing is I can always go back and work at my grandfathers farm. It's not big, but it would pay for food and shelter in case times would get bad. I suppose I could also get another job, thanks to my education. I could even work part time for some hard labor work (I enjoy exercise and working out) and get the rest of my money from trading, in case my trading account didn't grow that well. But, I hope to be able to make my living trading so that I don't need the free coffee at work nor the jacket! I wish you all a great week!
Basically, you're just a whiner... You won't last in trading keeping that mentality. ... OK, that was a bit harsh (as usual)... My advice or food for thought: What do you think you deserve/want to have in life? then... What have you done towards what you feel you deserve/want? It's a self-fulfilling issue... not about work, friends, or anything out of YOU.
hey you know what helped me in the beginning I would imagine Soros or Larry Livermore sitting with me at my trading desk. and when I would loose and keep loosing (was a new guy remember) I would imagine two of them shaking their head and sort of bearing the pain with me. Get it, while you learn do what you can to stave off depression. ANYONE who calls me crazy, just remember I could buy you, you SOB
OK, I might come off as a am a whiner. I don't deny that, but I appologize if you find it awful. I don't know what I deserve, I don't think that is a question that one should answer himself. What I want on the other hand is a question only I should answer. Of course I want millions of dollars, maybe a nice rolls-royce and a nice palace and so on. But I'm also realistic, on a more down to earth level, I want to make about the same amount of money I would make if I worked for the money at a company for so many years with my background and possibilities. If I could get that with more freedom and more spare time I would be more than happy. Maybe in the future if I get proficient I want to be able to afford a nice car maybe even two, long vacations, nice house, and other things associated with "the good life".. This is more of a dream, although it is something i do want, but it is something I will set as a goal. I would just like to hear and discuss the possibilities and your experience. I don't mean to sound whiny or seek your comfort. But please be constructive and objective.
Lots of guys love IT or engineering before they go to college. After getting the degree and work for a few years, near all of them would hate their jobs. The opposite is true for Finance. Many people don't discover their potential in the financial market until their 30s or 40s. All of them regert that they should do it earlier. So do it ASAP!!
Yeah, I suppose that is true. But one would think if you are making good money in trading, you wouldn't hate it? Same thing with running your own business, if the money is good you don't hate it. If the money is good you can always hire somebody to do the work, while you sit around just collecting the profits. Maybe the same thing in trading? If the money is good, and you got an edge, you can maybe automate it and just sit around taking profit and just supervise your software and trades. I won't deny I'm interested in combining my IT background with trading...
As someone who is working in the IT industry for 20 years now, I completely understand what you mean. Actually on most days I wish I could turn back the clock and start back from the point where you are now. IMHO, the most important thing is that, based your dreams, you develop an action plan now. Continue to save as much as possible from your salary and keep your demands low. Don't enter the rat race. Spend as much time as possible with reading, paper trading, etc. and within a few years your dreams can become true.