Super Newbie

Discussion in 'Professional Trading' started by Eazy, Feb 4, 2006.

  1. Eazy


    Basically, I'm interested in trading and the finance world in general and I don't know much about it. Right now I'm working in Japan, but when I return to Canada I'd like to get involved in something financially related. I have a degree in the Social Sciences and I'm taking the Canadian Securities Course online right now.

    Anyway, I've applied to a bank to maybe work as a branch manager's assistant, but I'm also thinking of applying to some place like SwiftTrade. I've read the posts for and against it, but for a 23 year old who is looking to get involved in finance and trading, is it a good place to start and get experience? It sounds like they'll train me and provide me with experience that I could eventually apply somewhere else.

    The most experience I have is managing my own portfolio with a discount brokerage and the Canadian Securities Course which is still in progress.

    Any thoughts from the vetrans here? Thanks.
  2. Absolutely, swiftrade is one of the only places which will give you experience (i hesitate to use the word train) without you putting up any cash. once you get comfortable on the keys and reading L2 and's time to leave the nest.
    The securities course will help you understand basic fundamentals, not really a daytraders main focus. Education never hurts though, i'd rather know too much than too little. Hope this helps!
  3. Eazy


    Thanks. I'm interested in finance and business in general and daytrading seems fun, but it's something I'd like to learn as part of a bigger experience in the world of trading.

    Would you say that an entry level job such as one at swift would open doors to more respectable venues or companies?

    From what I've read here, a lot of people seem satisfied with their careers as traders.

    Why do people choose the trading route over something more institutional like working for a bank or becoming an accountant?

  4. Trading is freedom :) If you make it of course.
    Then you can have a "real" job with cleaning someone elses home or pick up the trash from the street and still know that no boss in the world can kick your ass.

    Trading is and should be very simple. Simple as in not complicated. Not as in easy from most peoples perspective. Including mine far (getting there).

    I believe you should start with psychology since this is a mind game
  5. Eazy


    It sounds like a challenge, but a rewarding challenge. If something isn't challenging, in my opinion, then it's not really worth doing...or fun for that matter.

    What does the typical day in the life of a trader look like? Also, how easy is it to relate to friends who are outside the realm of trading and have a "regular" job?
  6. What the day will look like depends on how you want to trade. Some traders can make 100% or more a week to start with and just spend maybe 1-2 hours a day.
    Others stare at the screen all the time.
  7. This is highly misleading: tell me of ONE trader capable of achieving such returns 'to start with'.

  8. Why am I replying I have no idea, but I know of exactly two traders that has had 100% weeks, one of them in fact averages around 20% a week (and I have been in finance, ibanks, hedge funds, etc, for 12+ years, and he is the best I have ever seen). Before people start to do math that compounding 20% weekly would be 5 billion/trillion in 3 years, he is keenly aware of the capacity limitation of his strategy (it can not scale much, almost by definition of the strategy), so he just plays with 1-2M constantly, and pull out the extra-cash every 1-2 weeks, the market is almost like a large ATM machine to him, go to his office, work 5-6 hours (he doesn't do all that much), and leave with average +~50-80k in his account, every #$%! day, day in and day out.

    The interesting thing is that two of them trade completely differently, one is a pure automated system, using leverage and large number of trades to push up the return. Another is a pure discretionary trader that has his own "secret sauce" (and I only have a vague idea of what it is) analysis, that he doesn't really talk about it, but it seems to work for him (coming up a little over 3 years for him now).
  9. listen, u might be able to have a few 100% weeks, but to say u can do that consistently, with a couple of hours work per day and 'to start with' that doesn't reflect the reality out there: the op is here to know what is possible to squeeze out of the mkt and a reply like that doesn't do him any good.
  10. In all honestly, successful trading takes years to develop. If you do choose to take the trading route, dont expect the results you seek for at least 2 years. It will most likely take you 6-12 months to just start to see any profits. And I am being conservative.

    You really have to have a passion for trading so that you can make it through the first year with your head still held high. Most guys think that they will be able to come in and withing a week understand how to make money. Unfortunately for them, they find thats not the case.

    #10     Feb 8, 2006