Aspirant Trader

[SheridanJ]

Hello,
My names Sheridan I really want to become a trader and have been using a practice account on ETX Capital for nearly a year now and my trading has improved significantly.
I would like some advice on the best way into becoming a trader – should I go to university or go straight in after my A levels – keep seeming to get conflicting advice? If any one can clarify this for me I’d be very grateful.

 

[96pills]

go to uni

 

[SheridanJ]

thanks thats what i thought

 

[Trendy Trader]

If you can consistently make money trading then maybe you could just do full time trading. Depends what you're going to study and what kind of job you want to do I guess though. I can't really advise, and wouldn't want you to make any life changing decision based on what I say, it's totally up to you what you want to do. You know your capabilities as a trader, but things can go wrong and it would be good to have a back up plan. You know what you want to study and what you want to do in life. If you have a passion and want to study it then go for it, but, you really don't need a bit of paper /certificate / PhD to be a trader.

This is just my opinion.

 

[SheridanJ]

so if i didn't go to university what would be my best route in? should i directly approach brokerages with my CV or attempt to get an internship?

 

[Trendy Trader]

You may need to for that kind of work, I guess, I don't really know though. When I said full time trading I was thinking with a live trading account from your PC, with a broker like FXCM or one of the other reputable brokers out there.

 

[roughbert]

...should I go to university or go straight in after my A levels –

If you can get on a good course at a good Uni then go for it, at least you will never have to wonder whether you should have gone...

 

[mrsoul]

Hello,
My names Sheridan I really want to become a trader and have been using a practice account on ETX Capital for nearly a year now and my trading has improved significantly.
I would like some advice on the best way into becoming a trader – should I go to university or go straight in after my A levels – keep seeming to get conflicting advice? If any one can clarify this for me I’d be very grateful.

Definitely go to the University.
Trading is very difficult and you could lose alot of money and time until you get the hang of it.
Trade live, in a very small way, in your free time.
Then, if you see that you can get the hang of it,you could always go full time.
If you don't get the hang of it, then at least you have your degree.
Don't throw away a degree in hopes of making it as a trader.

-Good Luck-

 

[jeffsmith]

Hello,
My names Sheridan I really want to become a trader and have been using a practice account on ETX Capital for nearly a year now and my trading has improved significantly.
I would like some advice on the best way into becoming a trader – should I go to university or go straight in after my A levels – keep seeming to get conflicting advice? If any one can clarify this for me I’d be very grateful.

I think so you should not join any university or Any Trading Institute.I advice you that now open a trading A/C in any Broking house and trade on that A/C. Actually Sheridan, Trading is not a Course which can be learn from any Institute, it is possible that some trading strategies can be learn by attending some online trading course, however i feel when you can get all the details free of cost then attending a course is wastage of money. Trading is the thing which can improved or built our self. But To Rectify Trading Style and Learn Many Trading Strategies , Indicators ,you can join any Trading course.When you initiate any real trade ,you can feel every thing which any Investor and trader feels ,and because you are playing with a practice A/C, you don't feel any thing like a trader ,and it is essential to be a Good Trader, you have to understand everything about Trading like Risk ,Reward ,Fear of Losses , Greed to making more money. Actually in Any Type of Financial Market Two things are working Fear and Greed ,Due to Fear of losing your wealth you exit from the trade and to making more and more profit (means greed) you initiate many trade and after all making make loss. So Trading in your Real Trading Account and Learn these all things.

ok

All the best

 

[Calinor]

To be honest it surprises me that quite a few people consider making such a big decision by asking strangers on a forum. That isn't to say that you won't get good advice here, you may, but you may also get some irresponsible advice from people that don't really give a damn. What you want to do now (i.e. become a trader), may not be what you want to do next year or in 5 years. You are quite young if you are just finishing your A-levels, and your perspective will probably change more than you can imagine.

My opinion, for what it is worth, is that if you can get a place at a decent university, doing a course you are interested in, you should do it without hesitation. Probably very little of what you will learn at university will help you in trading (or in your future job whatever that is for that matter), but the mere fact of you having a degree will open some doors for you. If you can get a 2:1 or 1st from a top university, so much the better. Having a university degree can mean that you get paid more than someone doing exactly the same job. And anyway, university can be a great experience in itself.

If you love trading, you will still have plenty of time to do that while a student. Most students aren't working 40-50 hours+ a week, so you will have time on your hands to practice trading and learn if that is what you want to do. Again, what you want to do may change a lot, so try to keep your options open. And for me, a university degree will give you more options.

have been using a practice account on ETX Capital for nearly a year now and my trading has improved significantly.

Trading on a practice account is not the same as trading for real, and even though you have improved on the practice account, you still have yet to find out if you have improved when money is on the line. Also improvement could be getting to break-even, or even losing a lot less . I don't know at what level you are at, but you have to consider whether you can realistically make enough money to support yourself in the next years. Good luck with whatever you decide.

 

[disi]

Hello,
My names Sheridan I really want to become a trader and have been using a practice account on ETX Capital for nearly a year now and my trading has improved significantly.
I would like some advice on the best way into becoming a trader – should I go to university or go straight in after my A levels – keep seeming to get conflicting advice? If any one can clarify this for me I’d be very grateful.

What are your results on DEMO? Are you sure you can EARN on regular basis? If yes it's then great!

Let me give you advice which I give to my younger friends. Start with more capital...the bigger the better. But listen - trade AS LITTLE positions as possible! Because even if you are goo at DEMO you will find on LIVE account that your psychology works "strange". When you are about to risk Real money your will have big mind games.

Fear of losing money will prevent your from taking positions. You will miss good opportunities..then you will want to "fight back" and you can lose.

So trade minimum positions - risk in every trade not more then 1/100 of your capital. Trade not to earn - trade just to feel secure with risking own money. When you get used to it you can trade bigger positions. But be aware of those factors - be patience.

 

[timsk]

Sheridan,
mrsoul and Calinor offer the best advice. Uni is, without question, the best option for you right now. The markets will still be here when you graduate and, at that time, if you still want to be a trader, you can take your degree, your 3-4 years of trading knowledge and experience to a prop' firm or IB and launch your trading career that way. Alternatively, you might pursue something aligned to your uni course and continue trading your ETX Capital account in your spare time. If you pass over the uni option - you will almost certainly regret in the future. Go to uni, shag anything that moves, consume large quantities of addictive substances (but don't get addicted!) and, in between all the serious fun, study hard. All of those are way, way, way more important than trading at your time of life. Sorry if I sound like your parents or just some patronizing old fart (I am one) but, trust me on this, uni is by far the best option for you right now.
Tim.

 

[TigerTrader]

Sheridan,

I am in a similar position as you. I just took a gap year to concentrate on trading. I think it would not be very wise NOT to go to university. As much as you might want to trade as a career I think it would be most sensible to have a decent degree from a decent university as a back up. In this current climate you just don't know what is around the corner. My advice would be take a gap year if you want and do some trading full time. Once you are at university instead of wasting your time and money messing around, spend a good few hours trading during the day as you will have some free time. Thats my plan anyways. Don't ditch the degree yet!

Hope it helps