Honestly, it sounds like you have some decent contacts and friends who have given you good advice. I'd listen to them- if they're telling you not to bother with floor trading, I'd skip that. I'd also skip prop trading (at least the type of prop trading that most people consider prop, putting down $5K-$10K and sitting at a computer). Very few of them make it, and even less make the kind of money you aspire to. I'd pound the phones/e-mails of your hedge fund contacts and just look to get your foot in the door that way. Trading for a living is extremely difficult. While it is possible to be self-tought and successful, having a mentor show you the ropes can make it much easier to succeed. Good luck!
FaderTrader: I have nothing negative to say regarding Fishers methodology. I have heard him in person. The guys he employs are very successful. Many of them make several million per year trading Nat Gas, Unleaded, HO or Crude. It is a fraternity down there with his crew. Most clear their trades through MBF. Obviously he has done something right. Now he is trying to patent an energy index. Frankly, I think he is brilliant. Naturally, not every trade is going to be in the green after execution and the allowance for room in order for the trade to unwind is necessary. Clearly, I have less practical experience than then they do. I am just sharing with you what I was told. But I would really like to examine a pit traderâs success versus someone on the desk who has slower execution, using the ACD methodology.
FaderTrader: Actually, that response was not directed towards you, but Cheesefuck. First, I probably a mistake by spending the time writing out my situation on a forum. I am really not in a bad situation and have several options. My question is which direction should I go in, if any. Sometimes it is easier discussing this with strangers, than friends, family or colleagues. At the same time, I was hoping to hear from individuals who are on or once were on the trading floor, or a trading desk at a bank or hedgie. From what I have read there are many CTAs on this forum. It would be interesting to hear their stories. I have a realistic understanding of how far I can go with my current and past experience. For any naysayers out there, like Cheesefuck, save your time and thoughts and focus on your Scottrade account. I've been reading this forum over the past couple days. For those guys who are coming on here asking questions, how to proceed with their career, I applaud them. Why not? For those who challenge that, it is really a shame. Asshole Cheesefuck basically said quit. How ignorant is that. Even FaderTrader, insinuating my aspirations are too high. That is fine. It doesn't bother me, but those who are timid and are listening to the beats of your drums, I hope they take the "advice" with a grain of salt. If everyone quit after failure nobody would be anywhere in life. I really didn't come to this forum for advice on what someone thinks I should do. I have a mind of my own for that. I am doing well at this point--but I am not happy. What is the point if your not happy. I always interested in what people have to say. It does't hurt to listen. But for future Cheesefucks save your time.
Take a break asshole. You appear to be describing yourself. A bottom rung office stiff who wants to run hedge funds .. so sweet. Doesn't know horsesh*t.
Cheesefuck: I have my own brokerage business in Manhattan. I make good money, but I am bored. I also think there are better opportunities out there. So before I am 30 years old I would like to position myself for something that I feel worthwhile. Listen, if you like to discuss your issues, please feel free to send me a message or we can work it out on this forum. I want to help. You need to address your problems. I'm here for you.
THanks for the entertainment, while I watch the Yanks seal a victory against Baltimore. I am very interested to know what you guys do for a living--Cheesefuck and Fadertrader. Would you guys keep it going? I have a couple hours till I leave.
Asshole office stiff, your crybaby story looking for help said it all. Stay with your fantasy of wanting to run a hedge fund. Sweet. LOL. Or try a website where they have an active Fantasy Support Unit.