Help me discover what career I want to get into!

Hi guys,

I'm pretty new to this forum so please bare with me as I get used to it all.

I'm trying to discover what line of work I want to get into. I've looked at becoming a broker, prop trader and some others.

I'm a graduate with great motivation of working as a trader. Prop trader charge desk fees with no base salary. I need a base salary. I've begun my spreadbetting account. Go to regular seminars everymonth. Educate myself from the net. I watch markets and am trying to perfect trading psychology and strategy.

I looked at brokers but the ones that i looked at Edward Jones wants you to open your own office and work from home.

I want to work in the city.

Someone help me out here and i'll answer what ever questions you need me to answer.

thanks

Viks

vchohan said:

I'm pretty new to this so please bare with me as I get used to it all

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If I had a quid for every time a girl hasn't said that to me...

How much would you have if you counted the guys that said that?

Lol should I delete it so we can stay on topic. This is a life changing moment here.

Hoggums said:

How much would you have if you counted the guys that said that?

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More than I'd like.

Viks to keep it on topic for you, you really can't ask other people to tell you what to do with your life. Being a trader and being a 'broker' are pretty different things; in my (limited) experience people that say 'I want to work in a bank' or something similar need to go away and do a bit more research for themselves. It sounds like you are at least committed though, which is good; speak to traders on here and any you know in person, get them to talk about what they do day in, day out. Your choice of career should really resonate with you, and when you know a little more about trading you might feel it, or you might not.

Thanks Skill Leverage.. What's your name by the way?

What's your experience in trading and why type of trading do you do? Is it a full time thing for you?

I think prop houses are pretty much out of the question for me as they don't pay a base salary.
Am I right in saying that?

Viks

vchohan said:

Thanks Skill Leverage.. What's your name by the way?

What's your experience in trading and why type of trading do you do? Is it a full time thing for you?

I think prop houses are pretty much out of the question for me as they don't pay a base salary.
Am I right in saying that?

Viks

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It's not yet a full time profession for me but I very much hope it will be come February.
Most don't pay a base, and I suppose people with financial or family commitments have to worry about this; for me as a young, single, mortgageless individual, I wouldn't want a base; would you rather get 25k basic plus 10% profits or a straight 60/40 split? If you want and believe in your own success, it's an easy question to answer.

Combine this with the fact that if the firm is giving you the capital to trade with, as well as training, desk space, IT support, etc. etc.... asking for a base salary on top of this is kind of like having your cake and eating it.

To be honest i'd rather have the 60/40 split. I believe in being rewarded for my own success. But to start out some people are asking for about £3k a month, which at the moment I can not afford. I won't take out a loan for it and am unable to get any funds from family. That's the sole reason I need a base salary. I'm just like you John, young, single, mortgageless but to get me by i'd need £900 a month if you get where I'm coming from.

With this in mind am I going down the wrong route if I were to join a prop house?

There are a few firms out there who run graduate schemes, which take a lot of the financial burden off your early career with no desk fees, full training, etc... I'll leave it as part of your journey of discovery to find out which though

Would be a help if you could name a few! There's a list of at least a hundred to go through to find out any help would be great!

vchohan - sorry to say this but you don't sound like the kind of candidate I'd want to employ.

Sounds like you'll take any job in finance provided we find it for you and it's not based on your performance.

This is your career and livelyhood - show initiative & take control of it yourself and do your own research. We would be happy to try to answer specific questions, but what shall I do and where shall I apply to are questions only you can answer.

vchohan said:

Hi guys,

I'm pretty new to this forum so please bare with me as I get used to it all.

I'm trying to discover what line of work I want to get into. I've looked at becoming a broker, prop trader and some others.

I'm a graduate with great motivation of working as a trader. Prop trader charge desk fees with no base salary. I need a base salary. I've begun my spreadbetting account. Go to regular seminars everymonth. Educate myself from the net. I watch markets and am trying to perfect trading psychology and strategy.

I looked at brokers but the ones that i looked at Edward Jones wants you to open your own office and work from home.

I want to work in the city.

Someone help me out here and i'll answer what ever questions you need me to answer.

thanks

Viks

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Here's some advice....


Get a job trading, don't rely on your own account, tell someone else you are acme trader no.1.

Once they have discovered you are sh!t....then you are on your own.

The world is your oyster.



Trading is just a job, if you want to earn big bucks, take some risks, or sell signals.


Good luck.

Trading is rubbish, unless you are one of the .0001% who makes it big by luck!

Compound!

Who on here knows how to compound? F*cking no one!

Good luck.

What is a prop house?

I was simply asking whether he know who ran the graduate schemes, If he could provide any help. I know where I want to go and where I want to be. I'm driven and determined. I'm done so much in the last month from not knowing much about trading.

I attend regualr seminars and self develop. As I stated before I am a trader and want to join a firm who'll back me but at the same time provide the support needed from someone who is entry level.

I didn't want to apply to the bulge bracket companies as mid-caps companies is where I want to be. They are fast growing companies which allows me to gain more exposure to the industry and the markets. This will utilise my greatest quality of working very well under great pressure.

I won't take any job in finance and am about to turn down two roles as a broker as this is simply not want I want to do and have chosen the path I want to follow. If I could've got some idea of who to contact would have been advantageous, well it was worth a try right.

Thanks for all your honesty but was simply seeking advice from people who know about this field and have been through many of life's experiences. Sorry if I sounded like I wanted you to do everything but that's not the case. I see myself as a young finance professional seeking a career as a trader.

This is what I did when I was out of college,
I talked to as many people as I could.
Then I found someone who was making the kind of money I wanted to make and I got them to show me how they did it.
That is the fast track, I would say I took 20 years off my learning curve by doing this.

DeadMoney said:

This is what I did when I was out of college,
I talked to as many people as I could.
Then I found someone who was making the kind of money I wanted to make and I got them to show me how they did it.
That is the fast track, I would say I took 20 years off my learning curve by doing this.

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Were they traders DeadMoney? Or is trading just a sideline for you at the moment.

I have actually used this technique several major times in my life.

after college I found a guy who was making money in real estate, he showed me what he was doing and I made some where between 4 million and 5 million dollars following his advice.
I started with no money and just did exactly what he told me to do.

later I found some guys in Texas who were making a lot more money trading stocks,
I also found some in New York and Georgia, but I figured the best deal for starting out at the time was in Texas so I moved there, I was learning but I just got tired of living in Texas, so I quit about the time I started making money.

There are always people out there who would be willing to show you how to make money, you just have to find them at the right time, and present yourself in the right way.
I can think of a dozen people who I have given exact instructions on how to buy real estate who have gone out and made between $25,000 and $250,000

One woman I ran into was trying to buy a house and she started talking to me about it, she said she had been trying for over a year to make some money by buying a house and then selling it, but she had made nothing,
I asked her "why don't you just quit? you have been working for a year and made nothing."
she said she planed to keep trying until she was successful at it.
I thought here is someone who could use some help, I gave her my phone number and told her to call me and I would help her out. She called about every other day for about 4 weeks when she bought her first house and sold it about a week later for a profit of $28,000.

She could have easily spent another year or two with no results, because she was doing all the wrong things. But she listened to what I said, followed my instructions, and 5 weeks later she was making money.

Yeah, just find someone who makes loads of money trading and ask them to show you how. Easy. You might as well go and get the Ferrari now!

funny thing about this.
if you think you can't,
or you think you can.

Your right either way.