I did some of this research myself lately and am currently looking into Bright Trading, http://www.stocktrading.com. They have about 500 remote traders currently.
I think people overgeneralize how rigid thinking engineers are. Not all engineers are that way. It depends greatly on you and what kind of work you do. There are plenty of engineering roles that deal in uncertainty. The most successful trader I personally know out of about a dozen 6 figure+ traders was an engineer. He did 7 figs last year. We all know or worked with a stereotypical engineer that tends to over-analyze everything searching for the "right" answer, ie "analysis paralysis". Are you that person (be honest)? If so, trading isn't for you. That's the type of engineer that you hear about failing at trading. On the plus side, as an EE, there's a good chance you have some programming background which is a huge plus these days. Some statistics can be helpful as well. As long as you are prepared for a lot of failures and mistakes you have as good of a shot as anyone, maybe better. Personally I see no advantage to you moving. Most of the profitable traders I know don't work in offices, though a few still do. Good luck!
You don't obtain a position in trading per se ... trading is a business where your imagination is the only limitation to what you can make. I understand that..., however there are couple of problems with that. One is that there is a limit as to what you can make trading individually as you would not be inclined to take big riskswith your own money. Another problem is that it is very lonely to do the trading just by yourself especially for someone like me who is in the beginning phase of his career (with no family). I have been trading successfully in my personal account for the last 3 years, so one would think I would have more of a chance to get an entry-level position than someout who is fresh out of college. However, it appears that BB firms are more intent on hiring a recent graduate.
Why not just trade from 6:30 to 7:30 AM PT? Cherry pick the day? And keep your day job? If you can't make money when the volume is highest, you won't make it any other time of day.
Hello, some people in the same field decided to trade their own money and if you can do the same and do it well, 1/2 of your problem is solved right there. You can do something you love and you can quit your job to focus on trading... In the meantime if you can network and someone likes you enough to give you a shot good, but if that doesn't happen don't worry. "All you really have to do is to make money year after year." One thing is to understand options, but usually the people who write a lot of academic books on options make money by selling the books or the seminar and they are not the ones who make money with options. You want to make money with options/trading. After you can do that, you should not have hard time finding a position at a firm. School is always a plus, connections help, even looks help, however the bottom line is and will always be only one. Can you make money consistently ? If you can do it for at least 3 years, 5 is best, you got nothing to worry about. Your own account is the resume they are looking for, and your trades with options, if succesful will get you the job. Just make a copy of all your trades and put it down on the table, if you are good you'll be surprised of how many people all of a sudden are interested in you. Most firm do appreciate an excellent retail trader. If you can be succesful with only an internet connection and a broker, your potentials in a trading firm with all the bells and whistles, will be of great value to them. - g
I was an engineer and I (sort of accidentally) ended up working in finance but not trading. I got an MBA thinking I was going to go into technical managent and decided I liked finance a lot better. While I was still in grad school I did some technical consulting work at a financial institution, and got hired there in risk management after graduation. A few years later I got a strategy job. I had some trading interviews but left the industry before ever landing a trading job, a lot of it had to do with geography and not being willing to move. But the point is engineering undergrad + MBA was enough to get in the door, and I knew other guys with similar backgrounds who got trading jobs. Most had to do time as some kind of analyst first though. If I had it to do over maybe a MS in finance or financial engineering would have been better - faster and less bs than an MBA. Education haters hold your flames, OP says he wants a job and not just to trade on his own. Good luck!
I have an EE [more of a certificate thing than an EE from a great school really] and after decades in some of the best jobs on the planet [Large German corporation, World class consulting firms that didn't even have listed phone numbers, startups in new industries, IC design, etc.], I recommend learning Openquant and going with Bright Trading for more leverage when the time is right.... if the OP needs to socialize/exercise/grow as a person he can do like I do, hop on the bicycle and take off for the local hangouts right after the markets close...
Also an engineer, working out of Southeastern Washington. Why move? Start paper trading, reading, more paper trading, etc. When you're consistently profitable, then look at what's next. Good to see some double E's out there! Good luck.
I suggest you do what I've done for years: Exploit the fact that you can start trading at 6:30 AM and go to work much later. When you consistently can make money the first 2 hours of the day, you can consider leaving your employment. One bit of career advice: You should carefully consider if "checking out" of the ranks of the employed is the best at your young age. With engineering jobs on a slow decline (EE/CS in particular), you'll have a hard time being taken seriously for any engineering openings if you've been trading for 5 years (i.e. out of your profession). So again; i suggest you prove to yourself you can stay profitable and make "enough" money before you consider leaving.