City Excess

Hey guys. all have a laugh at me go on, im 20 years fo age, and have wanted to get into trading for a long time, ever since school. The one problem i have is i never went University, have only acheived a grade D in Maths at school and so i guess i stand no chance of getting into a reputable investment bank with my past experience. I live in Bexley, in a modest 3 up town house, nothing special, but i want money, and lots of it!!! I was inspired further still by this program City excess as mentioned, 25 years of age is mr lawrie inman and he could easily retire at 25!!. Amazing!! Im hungry for money, real hungry!! Need an oppotunity or a break to come my way, any ideas senior traders??? marc_mason@hotmail.co.uk - msn address.

Were the people in that program trading the same way people do on this forum, day trading?

Or were they trading in a different way?


Thanks

It didnt really say tom, all i know was he was working for Marex and i think he was trading futures.

According to rumour mill, the guy from Marex is 1.5 mil in the hole, and has disappeared. I have no idea whether or not this is true or not. Maybe someone who works there could clarify?

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That's a pretty safe assumption. On the other hand it's not necessarily a bar to becoming successful as a trader - most traders work outside the IB's.

You could learn a bit by reading Laptop's signature, or others like it. But still, if you want to get started trading there's enough free resources on T2W (try the knowledge lab) to get you going. Just avoid 'get rich quick' trading schemes of which there are plenty out there. That 'hunger' for money is like a magnet for people looking to rip you off - if it looks too good to be true it probably is. And remember, if trading was simple everyone on here would be multi-millionaires (although a few are, maybe )

Yes, they're not trading their own money. There's a sea of cash looking for high returns, the holders of said cash will pay the high comms to the financial markets in exchange for high returns, but the city decides just how much of that cake it will eat (hey,'cause you're worth it), if you have a problem with their cut you can opt out, but as long as everyone is getting rich the game continues.

Hi all,
Approximately 3 weeks ago there was a programme on BBC1, made
by father/son Peter and Dan Snow on where the wealth in GB was coming
from. The conclusion was that about 16% of the British economy was
derived from the Square Mile, and also 12% of the total income tax was
sourced from workers in this area.
Someone from the city commentated
that London was now the financial centre of the world, and with the amount
of money flowing through daily even a small %age skimmed off was
substantial. In order to stay No1 London needs to attract the best players
and the Labour Gov, according to the programme, has/is/will continue to
provide the right legislative/taxation enviroment for this success to continue.
Also, in the ITV prog. someone pointed out that the old school tie/ public
school type was now virtually extinct in the city, an example given was that
of Michael Sherwood, 40 yrs old head of trading @ Goldman Sachs, personal
wealth estimated at 600 mill, had been earning 1 mill at 28 yrs old, and
had recieved his degree from Manchester Uni .
If you've got the ability youcan/wil go far.