The key element is ***TRUST***. If you have ever managed people, then you know that by hiring the wrong people you can sink the business. Not just trading, but any business. No one hires who they cannot easily trust. If you were the manager at a hedge fund, who would you place in the trading seat knowing that whoever sits in that seat can make or break you? Ivy league educated persons is an obvious choice. Highly educated people who have been through a rigorous testing process and aspire for a higher calling. This is not to say that joe friday with no education cannot make it in trading. However, no one is going to trust joe friday behind the trading desk in the first place. The question you have to ask yourself is how are you going to get the that hedge fund manager to trust you? An Ivy League education is a start. Bucket shops like Brite Trading and Swift Trading are actually good places for Joe Friday to start. Joe throws down his deposit and gets his chance at the trading desk. I say not to aspire for Goldman if you are Joe Friday, just go to one of those bucket shops. If you can make it at the bucket shop then maybe you should think of another career. Jesse Livermore made it in the bucket shops so why cant you?
Why do you say that? Eventually this bear market will be over and another bull market will return and once again the public will go to the otcbb/pinks for a cheap thrill.
Not quite 100,000 and I believe it has been a year and a half possibly 2 years. I started trading heavily when I was 15 and I had 3,000 to start with. The reason I want to work for knight is simply for the experience. I can trade successfully now and I know that will probably never change so why not get all the experience I can now? Because I could only imagine the looks on peoples faces if I said I wanted to come right out of high school and try to manage a multi million dollar hedge fund lol! Nobody takes an 18 year old too serious especially with money! Plus I bet there is a ton of change to be made if you can successfully make markets in the otcbb/pinks! YT
theres not that much promo action going on now, i mean there is some stuff moving but liquidity wise it sucks unless your moving small size(main reason for why I trade naz/nyse)... i guess the only good thing otc has coming are bankruptcy bounce plays but should be dead for another year or two before REAL action starts coming back
With this track record in hand you will probably get a look from Knight but I suspect it will have to come with some sort of college education. If you don't go to college then be happy with where you are at. The line to get into your current seat goes waaaay out the door. What I wouldn't have done to have 100k when I was 18. Take some of your money and go do this. Knight can wait http://www.youtube.com/watch?v=uwIGZLjugKA
Smart kid. Even seasoned traders get into the funk thinking bear markets last forever. Although with this bear market, we could go sideways for the best part of the next decade. You're still in highschool? Try and get into a ivy finance program and keep trading. Begin documenting your returns. By the time you graduate, you'll have so much money thrown at you, you won't know what to do with it. Yes, what they will teach you in school is mostly useless. However, the paper they give you will make the rest of your life much easier.
Any thoughts of knight capital partners. Can someone tell me what are they responsible for, are there any recent articles or recent deals that I can look at? Thanks