DazKem said:
OK now the embarassing part, i work in one of the areas that NO sane person in the whole world would want to work in.
We are treated like scum, the traders (most, but not all) look down there very expensive noses at us..........and i wish i could move closer to the traders depts, i am actually trying to befriend a few....no luck so far....
OK i work in the security department...........and damn do i hate it
So back to my original question......please gents and ladies
Daz
Daz, I wonder if you aren't in a perfect position to observe without being noticed. If you are able to pretend that you have no interest in trading, are dumber than you appear, and have no interest in approaching them, then traders might speak freely in front of you while they are in the elevator, walking to the head, etc....
I have always been amazed at how often 'suits' are able to completely able to ignore support staff. I mean the things people say in front food service, building maintenance, secretaries and security staff, is amazing. (There is probably fodder for a revolution in there if it all got put together - a great blog idea in here somewere....)
Anyway, it's hard for me to imagine that you will meet with anything but a rebuff if you try to "become a suit" without the degree and the connections, but that doesn't mean you can't be a trader and a profitable one. I like to imagine you on the beach most afternoons 10 years from now, while the suits you see today are still working at the bank until closing time every day! Remember they are trading other people's money, and even if they get it right, they probably only get a small percentage as a bonus, and when they get it wrong, they still get their salary. As an individual trader you have an opportuntiy to reinvest and compound your account, and you only need to trade when a setup meets your criteria - these guys/gals probably have to keep their money in play, even when they would rather stand aside. You also will have to personally meet any margin calls, so you can't afford to enter this endeavor on a guard's salary until you have figured out a way to limit your downside.
Your day job provides you with the most important thing you need right now - a means to pay rent and buy food. Those people at the bank have no control over what you do in your free time. I expect your day job does not require all available brain cells, so it's a great time to do your tasks, and let your trading studies simmer on the back burner, so that when evening comes, you can hit these boards, read your books,analyze charts, define and test your setups, and develop your trading plan, etc... You can use your day job as absorbtion time, and take another big knowledge bite each evening.
In my opinion, the most important thing is for you to get a stake together and not play one position until you have a plan together. Get your rent and food and transportation down to the minimums, and start building your stake. There are many free simulators available which can satisfy your desire for action, while keeping your real account safely growing from contributions from your day job. These simulators (or papertrading E.O.D.)can also provide you with a way to see whether your plan is valid- until you can make your simulated account go up consistently there is no reason for you to open a real account anywere.
I wish you all the best.
JO
