Trading as a Career ?

[FrankJones52]

Hi my name is Frank, I am thinking about becoming trying to become a trader. I am studying Finance and Accounting at the National University of Ireland,Maynooth, I am pretty good at Maths(Calculus and Stats Modules in first year,Econometrics and Quantitative Analysis throughout my degree and with a B2 in HL maths for leaving cert).

I am just wondering how is full time trading as a career? What are the hours like? Is this job possible once a wife and kids come into the picture is my main question?

Also what is the difference between SIG(the main company I want to work for) and the likes of Genvea or Postive Equity? And minimum salary expections?

I know Ive asked alot but I am really considering it as a career! Please find time to help.

 

[Ezane]

Hi my name is Frank, I am thinking about becoming trying to become a trader. I am studying Finance and Accounting at the National University of Ireland,Maynooth, I am pretty good at Maths(Calculus and Stats Modules in first year,Econometrics and Quantitative Analysis throughout my degree and with a B2 in HL maths for leaving cert).

I am just wondering how is full time trading as a career? What are the hours like? Is this job possible once a wife and kids come into the picture is my main question?

Also what is the difference between SIG(the main company I want to work for) and the likes of Genvea or Postive Equity? And minimum salary expections?

I know Ive asked alot but I am really considering it as a career! Please find time to help.

I am Ezane, a trader and a coach and I am going to answer your first question. Full time Trading is not staying behind the computer from morning to the evening. It is all about finding a time frame that fit with your daily activities whether you are single or have a family. Then, you must really know what you want in the market and that is all. As a matter of fact I have a family, but I trade a time frame that I am comfortable with and I have never been disturbed by anybody. So, forex is not a get rich thing or a hobby. For most successful traders it is our work, it is our business and we write our own paycheck and our secret is the following:
• get a trading plan
• be patient
• be disciplined
• have quality execution

Good Trading.

 

[Aesop20]

There's no set "career" for retail Forex trading, it has to start as something on the side, because it'll take time and practice to gain the knowledge necessary to succeed. You need to practice and then practice some more, and when you think you're ready to go live.. keep practicing. Harness your emotions and get a trading plan!

 

[NVP]

Hi my name is Frank, I am thinking about becoming trying to become a trader. I am studying Finance and Accounting at the National University of Ireland,Maynooth, I am pretty good at Maths(Calculus and Stats Modules in first year,Econometrics and Quantitative Analysis throughout my degree and with a B2 in HL maths for leaving cert).

I am just wondering how is full time trading as a career? What are the hours like? Is this job possible once a wife and kids come into the picture is my main question?

Also what is the difference between SIG(the main company I want to work for) and the likes of Genvea or Postive Equity? And minimum salary expections?

I know Ive asked alot but I am really considering it as a career! Please find time to help.

get Qualified as an accountant and dig into a good company ......then come back and worry about trading .......it can be done on the side part / Time and you can move at your own pace then :smart:

N

 

[FrankJones52]

Thank you all for your replies Im at a crossroads right now between going down the accounting route and the finance route, To be honest I believe the accounting side of it to be too easy and mundane, I think I would much rather a job in finance. I know one guy who works in SIG, a trading firm which pays you €60000 a year to trade for them. This is the route I would want to take but I am not sure if my course (Finance and Accounting) would allow this as most graduates at SIG are maths/physics based.

Sig does not require you to put up capital (as far as I am aware) however Genvea does? Im sorry for being so naive but what is the difference between SIG and Genvea? Is Genvea more or less independent trading or what? Thank you.

 

[D70]

Thank you all for your replies Im at a crossroads right now between going down the accounting route and the finance route, To be honest I believe the accounting side of it to be too easy and mundane, I think I would much rather a job in finance. I know one guy who works in SIG, a trading firm which pays you €60000 a year to trade for them. This is the route I would want to take but I am not sure if my course (Finance and Accounting) would allow this as most graduates at SIG are maths/physics based.

Sig does not require you to put up capital (as far as I am aware) however Genvea does? Im sorry for being so naive but what is the difference between SIG and Genvea? Is Genvea more or less independent trading or what? Thank you.

Why dont you call the company and ask them???

 

[fxwinner09]

I agree with you. If we can trade well then it can act as our career. Cause we can learn many thing from trading. Here we can perceive our profit or loss.

 

[forever_young]

I am just wondering how is full time trading as a career? What are the hours like? Is this job possible once a wife and kids come into the picture is my main question?

I think it definitely can became a career. How many hours depends on your strategy - I suppose from 4 h/week to 30 h/week.
I think that's quite risky if you already have family. I would work in this way with stocks or PAMM. But I am a girl and I can actually understand your wife, if she is against trading

 

[NVP]

if you are still pondering this long ....believe me you are not a trader so take the safest job offered

 

[thunderstruck]

Not only you are overthinking this but

also the word career implies a job you do for lots a lots of years - ie a safe job .

You can be a successfull trader for 5 years and lose double of what you earned in an hour .


PS trading can help you on your -even totally unrelated - career. Quick decision making and reactions on good or bad decisions .

 

[forever_young]

also the word career implies a job you do for lots a lots of years - ie a safe job .
You can be a successfull trader for 5 years and lose double of what you earned in an hour .

If you are successful trader I believe you can hedge your money. So the losses can't be so high.
And of course that's not a safe job. Not that kind when you can study and then just work chatting with colleagues and drinking tea))

 

[ph_trader]

just my two cents. if you have not tried trading then give it a shot, or even do it part time, since trading has its flexible hours, there are people that make acareer out of trading, and others like me who keep their days jobs and trade at the same time.. test the water and be sure that it suits you.. honestly, you have an edge when it comes to trading given you have the necessary tools.

 

[DT]

Interesting how the first two replies were about forex trading and didn't really answer the question posed...

@OP - if you already know someone at SIG then why don't you ask them directly?

As far as I'm aware SIG is mostly an options market maker Geneva is a prop firm. I would presume that you would be more likely to have success at an options market maker than at the typical prop firm/arcade type set up but I don't know much about Geneva. The fact that the typical market maker is prepared to offer fairly reasonable starting salaries to grads tends to give a better indication of your chances of success than they typical prop firm that, these days, often require you to put money down yourself.

 

[forever_young]

just my two cents. if you have not tried trading then give it a shot, or even do it part time, since trading has its flexible hours, there are people that make acareer out of trading, and others like me who keep their days jobs and trade at the same time.. test the water and be sure that it suits you.. honestly, you have an edge when it comes to trading given you have the necessary tools.

I agree. Anyway you can always test yourself working on forex part-time for example. And after some time you will understand is this 'career' for you or not.

 

[Armory]

Open an account and just have a go with it.

You should read the latest copy of market wizards to get more insight too.