|
|
#31
02-24-2006, 04:18 PM
|
|||
|
|||
Re: Quickest path for me to become a trader
[ QUOTE ]
from the comments of this thread, it seems like trading is much harder than poker even though they require many similar skills. what do you think who have done both? [/ QUOTE ] Depending on your style of trading, trading can be slightly harder, (for example: there are more opponents to read, and more tables [stocks] to select from), but the skill set required to be successful is very overlapping. 
|
|
#32
02-24-2006, 04:27 PM
|
|||
|
|||
|
Re: Quickest path for me to become a trader
[ QUOTE ]
[ QUOTE ] You are welcome to argue over the terms used, but that was not my point. [img]/images/graemlins/smile.gif[/img] There is a big difference between trading for Goldman and trading on your own! [/ QUOTE ] Anyone just starting out is not going to have the capital or the risk tolerance to take advantage of being on their own. [/ QUOTE ] Considering that we are having this discussion in a 2+2 forum, I'm going to disagree with this statement! It does not require a great deal of capital to get started as a trader (especially part time), though certainly a bit more than you would need to start playing poker... and successful poker players should certainly have a good understanding of risk!
|
|
#33
02-24-2006, 05:07 PM
|
|||
|
|||
|
Re: Quickest path for me to become a trader
[ QUOTE ]
It does not require a great deal of capital to get started as a trader (especially part time [/ QUOTE ] But how much money are you going to make like this? And how much do you want to risk your own money? Compare this to getting a job at a real firm, collecting a salary and maybe a bonus, and learning from veteran traders. I don't see how it is close.
|
|
#35
02-24-2006, 07:33 PM
|
|||
|
|||
|
Re: Quickest path for me to become a trader
[ QUOTE ]
[ QUOTE ] [ QUOTE ] You are welcome to argue over the terms used, but that was not my point. [img]/images/graemlins/smile.gif[/img] There is a big difference between trading for Goldman and trading on your own! [/ QUOTE ] Anyone just starting out is not going to have the capital or the risk tolerance to take advantage of being on their own. [/ QUOTE ] Considering that we are having this discussion in a 2+2 forum, I'm going to disagree with this statement! It does not require a great deal of capital to get started as a trader (especially part time), though certainly a bit more than you would need to start playing poker... and successful poker players should certainly have a good understanding of risk! [/ QUOTE ] IMHO, you are MUCH better off getting an entry level job on the trading floor at a place like Goldman than you are gathering 25-75k of your own money and trying to trade on your own. In addition to having a steady salary and benefits, at a reputable firm, you'll gain great experience and make contacts all over the financial community. You can always quit and do the day-trading-on-your-own plan anytime, whereas you are far less likely to be able to daytrade for a few years, fail, and then go get a job at a shop like goldman as an older person. You're much better off getting a real Wall St. job than you are opening an account for 50k at E-trade and trying to live off your own trading that will, likely, leave you penniless.
|
|
#37
02-25-2006, 02:49 AM
|
|||
|
|||
|
Post deleted by Mat Sklansky
|
|
#38
02-25-2006, 12:35 PM
|
|||
|
|||
|
Re: Quickest path for me to become a trader
well what i did was study different trading methods and theories and study what makes a stock basically ...nothing too fancy
|
|
#39
02-25-2006, 01:02 PM
|
|||
|
|||
|
Re: Quickest path for me to become a trader
well problem is pretty tough to get a job as a trader at a wall street firm, so thats why people trade independently, which of course is very tough itself, so I guess if you're not top material then you probably shouldn't be a trader.
|
|
#40
03-09-2006, 06:18 AM
|
|||
|
|||
|
Re: Quickest path for me to become a trader
Don't mean to beat a dead horse but just saw this old thread and wanted to make a few comments.
Designations/degrees and their usefulness for institutional jobs: CFA = equity research analyst, portfolio manager MBA = institutional sales, overall networking value not really for trading Quant PhD(CS, engineering, physics, stat, math,etc) = quant analyst, software/algorithm developer, could also be trader MS MathFin/FinEng = quant analyst, derivatives structurer/trader Prop trading at a prop firm: Trading Method = usually scalping or spreading You don't put up any capital, firm needs to teach you to actually be profitable so they invest time in you, might offer a salary/draw during training, profit splits vary(don't expect better than 50/50 at first). Note:: futures prop firms will also charge you a significant(2-6k) monthly desk fee Prop trading at a bank: Trading method = everything, fundamental prop desks doing low-frequency and quant prop desks doing high-frequency stuff. Probably some opportunity for successful flow traders to lateral in-house to the prop desk. PhD quants will also find their way here, possibly from structuring, hedge funds, other banks, etc. Market making at a bank or MM firm: Trading Method = providing liquidity, managing risk Level of knowledge will depend on what products you are making markets in. Sales trader at bank: Trading method = No method, just fill order over day and pray you beat VWAP or imp shortfall benchmark, if not get yelled at by buyside. Well, maybe they have a methodology, like asking the program desk how to mimic a VWAP algo. Specialist at NYSE: Trading method = Stop hunting, filling orders at bad prices to gain an edge and piss off daytraders, customer flow Trading assistant at a bank or hedge fund: Duties = excel monkey, position watcher, report generator, food delivery, getting yelled at, and if you're lucky you get to learn from a very successful trader I'm tired and that's all that comes to mind for now.
|
 |
|
|
Linear Mode
