New member here, just a few questions: I am 23 and just graduated from a top University last summer with a Bsc Economics degree. I did have the option to start with Goldman Sachs as an analyst after completing internship with them the previous summer. However, my family has their own property development business so i decided to join the family business. I have my own project, so basically i am my own boss so i have freedom of hours i want to work. My true passion is Economics though, and trading. I am still a novice to trading and have read numerous books, only the last two being complicated TA books. I want to be trading as my primary business; property development takes care of itself (i have a good site manager). My question is: Is it possible to get the same returns as some of the traders working in e.g. Goldman Sachs? I need some advice from past traders and current traders and some guidance in which books to study and anything which can help me. Some of the books i have right now, dont seem very complicated so something quite advanced is what i want. Any help and advice will be much appreciated as i am currently feeling like i have missed a great opportunity such as working for Goldman Sachs .
A common mistake I see people making is assuming that comparing their returns to those of professionals managing billions of dollars makes sense. It doesn't. There are plenty of (highly experienced) daytraders who make several grand daily, and if they put $5000 down at a prop firm, would be able to snowball it into a million or more. The astronomical percentage return doesn't mean anything to someone at Goldman, because that same daytrader likely wouldn't be able to make much more money if he were given $1,000,000 to start with. I've read every book on trading and none will teach you how to trade. The only way to learn is with screen time and experience. Trading psychology books are good when you've got experience and have an idea of an edge... there are an infinite amount of edges out there, finding your own is very doable with lots of screen time and some tuition money... with your own edge you can make as much as the markets you trade allow for, liquidity wise.