risky business

[Rosecat]

We have a team at Schneider Trading Associates and I find the resources, reliability and research to be very good. The main problem seems to be that all the grad courses run by big arcades have convinced people that they don't need to take any risk to become traders. Certainly not my view of the industry. Any of you guys who have been doing it a while know that nothing comes for free when you are a trader and if you don't want to take risk, another career option may be better.

 

[A Dashing Blade]

. . . . The main problem seems to be that all the grad courses run by big arcades have convinced people that they don't need to take any risk to become traders . . .

Possibly says more about the quality of the graddies than the firm?
Seriously tho', could you expand the above sentence a little more?

 

[Rosecat]

I just think that trading futures has become a 'try it and see' industry, my opinion is the guys that do really well are usually the ones who want to go for it as a career. Trading is not an industry for people who can't get jobs elsewhere, it's an industry for elite individuals with high intelligence and strong minds. The right individuals with the right deal = high potential of success. I agree though that the cream of the crop graduates do often do very well. For those who have not achieved that title, a little more initiative is required.

 

[A Dashing Blade]

. . . elite individuals with high intelligence . . .

Guess you never worked on the LIFFE floor then

Tho gotta say that the difference between todays graddy's and those of 20 years ago is stunning. Nepotism rarely gets you in these days (certainly not into one of the global IB's). The one's I interview are chosen from a global pool and almost exclusively have a second degree.

 

[Rosecat]

Sounds like the way forward for sure, I definitely have begun to notice the lack of potentials with the necessary skill base and right psychological attitude.

What do you guys trade?