Quitting full-time trading - what next?

Discussion in 'Professional Trading' started by toothpick114, Mar 3, 2009.

  1. I have been day trading full time for the past 4 years, and finally deciding to move on from it as I wasn't able to become consistent. I hope to come back to it at some point, but right now I just need a steady income.

    I know that I have skills that are relevant to employers. I am looking for a career as a stockbroker or financial advisor - I still want to be involved with the markets. First I have to get the resume finished. I have to explain what I've been doing, and try to come off as someone who is a skilled professional with potential to be an indispensible employee.

    I don't think I deserve to be considered "unemployable" because I took a shot at a career that didn't work out. I can't be the only trader who quit to do something else...

    If anyone has any advice - for the resume, cover letter, interviews etc, I would sure appreciate it. And if you've been in the same situation, please tell your story.

    Thank you all in advance for your help.
  2. Hope you have your college degree already. In this kind of economy and job environment... it's a necessity.
  3. In this environment that really sucks.

    Tell them that you were working on your own business (catering, whatever) but that the market went sour.

    BTW, you really shouldn't be to concerned with remaining in the financial field ... you should just be worried about getting a job and paying the bills.

    Good Luck.
  4. That equals a salesman plain and simple. If you are a good salesman and don’t mind spending your life cold calling until you build a book of clients then there are always firms hiring. You will be working for commissions, but if you are any good you can make a living.
  5. Were you ever profitable as a full-time trader? Did you make a living from daytrading? Did you trade at a prop firm as part of a group or you did it at home on your own?

    You kinda kidding yourself there. Your degree, if any, and/or previous experience is what will be worth anything for corporate jobs.
    For Financial Advisor positions, if you have your Series 7, that will be a plus. Experience with the markets is also a plus. But then, being a financial advisor, you don't actually make money unless you sell sell sell your BS services. I think in this environment, it's a bad career to start in. The days of the stockbroker kinda dwindled away with the tech bubble.

    Well I'm sure Pedro in Nicaragua does not think he deserves to be a starving orphan while Johnny in East Hamptons was born with a silver spoon in his mouth. But such is our world.
    I quit full time trading but I was making the transition while I was still making a living from it. So it was a calculated move and I always have a few doors open if for whatever reason I want to go back and daytrade full-time or part time.

    Frankly, stay away from the corporate path. Check with friends or acquaintances, get involved in a start-up. This economy & world are changing, so think ahead.
  6. hoffmanw


    True! You still can make a lot of money in this kind of economy if you have people skill and energetic. My friend is working for Amway. He have sold $500,000.00 worth of products last few months. Now his $300,000.00 house is all paid for.
  7. chartman


    Quote from toothpick114:

    I know that I have skills that are relevant to employers. I am looking for a career as a stockbroker or financial advisor


    For the benefit of the naive investing public, please do not become a financial advisor/stockbroker. There are too many now that does not know anything about the markets/investing. Look for a career where you may have some knowledge and a greater possibility of sucess without affecting someone's financial future.
  8. LOL! Great Joke!
  9. seems unlikely in this market environment
  10. Seems unlikely in any market environment if you know how the Amway scam works. The few that make money via Amway don't do it via selling Amway products.
    #10     Mar 4, 2009