Which degree will be better? Economy, finance...

[michalg]

In future I want to be a trader. But first I want to get a degree, but I dont know which will be better: economics, finance, financial economy, business economics, banking or Finance and Investment Banking in Reading ? Thanks for advice.

Sorry for my English but I've been living in England for 1 year and still learning English first.

 

[TheBramble]

Math, if you want to work for a firm.

Or you could save yourself 4 years, learn to trade for yourself and forget the degree.

 

[Splitlink]

My friend's son took psychology. He has gone into business for himself---not trading, but takes an active part in dealing with clients and animating his staff. Before he started he worked for charity, on the phone, obtaining donations. That paid him well enough to take a round-the-world trip while he decided what to do. It is not all about finance and maths in commerce, although one's leaning is what counts.

 

[Crap Buddist]

great traders can cook.......... ?

the best way to start, contact a specialist catering college. City and Guilds is the usual way but independants do equivalent recognised courses.

traders gotta eat good food. So why not ? get a useful ticket I'd say.. then just switch your charts on and sit there for 4 years

 

[CLB928]

An education is a detriment to trading-stocks, forex, commodities, etc. If you want to take an aptitude test, take up online poker. If you are good within a few weeks, you have a chance. If you don't like poker, look for another vocation.

 

[Splitlink]

An education is a detriment to trading-stocks, forex, commodities, etc. If you want to take an aptitude test, take up online poker. If you are good within a few weeks, you have a chance. If you don't like poker, look for another vocation.

Like billiards, it's a sign of an ill spent youth.

Split

 

[TheBramble]

just switch your charts on and sit there for 4 years

I was going to come back and edit my post to add something along these lines, but you're spot on with that. Doubt many would have the patience or the discipline though. Take a day job and just spend all your fee time reviewing charts: Price, Time and Volume. In retrospect I might have, but not looking forward from that point in time I wouldn't have.

On the other hand, you're unlikely ever as an independent to make anything close to what the upper echelons do in the firms.

I'd guess my only other advice to you Micalg would be to switch your focus from 'wanting to be a trader' to 'wanting to trade'. If that change of nuance doesn't carry the same juice for you then I'd suggest you keep your options open on a career.

 

[the blades]

If you don't like poker, look for another vocation.

I'm ****ed then

UTB

 

[shadowninja]

Math, if you want to work for a firm.

Or you could save yourself 4 years, learn to trade for yourself and forget the degree.

I would have thought a Maths degree would be useful esp the stuff they cover in MScs (eg dynamical systems/chaos theory).

Have always wondered if an 18 year old with just £100 was to start trading and was serious enough, could they make it without getting a job? Anyone got a son/daughter out there willing to take up the challenge?

 

[TheBramble]

Have always wondered if an 18 year old with just £100 was to start trading and was serious enough, could they make it without getting a job? Anyone got a son/daughter out there willing to take up the challenge?

No they couldn't. And no I haven't. Get your own.

 

[shadowninja]

I could get some human slaves to trade for me?

 

[smwinc]

Michalg,

I was offered the advice once that you should do a finance related degree -- not that having a degree helps you trade, but what you get exposed to and ultimately the people you meet will assist you in your journey.

From my experience, everyone is different. There are 1,000's of ways to trade the markets, and 100x more ways to lose money in them - you need "some" way of learning what you need to learn to become skilled.

In my honest opinion, no matter how technically based you are in your approach to the markets, you CANNOT 'trade in a box' - trading in a box get's you killed. You must understand the 'real world' events affecting whatever market you trade. A really simple example - being aware of news announcements, Fed days, etc.

That being said (for the way I trade - at an intraday level) - the ratio of technical vs fundemental would be in the realms of 80% - 20%. I couldn't care LESS what the unemployment numbers are - But without question I want to know when they are coming out. By no means do you need to understand the in depth accounting and finance issues affecting XYZ, but gee it helps to know what a carry trade is, and why we care about Japan raising rates, for a basic example.

The reality is also - how many traders fail? How many traders 'want to be a trader' and drop off the radar 1 week, 1 month, 1 year, 2 years later. You need more than just one backup plan. Trading is so far from being fair that it's not even funny.

ShadowNinga -- I would like to think I'm testing that experiment. I am now 19, I began learning to trade when I was 15.

Hope my input helps.

 

[shadowninja]

I hope we will both still be here in a year's time to be able to compare notes.

 

[smwinc]

I hope we will both still be here in a year's time to be able to compare notes.

"Trends last longer than you expect" - So does learning to trade. Most trader's don't survive their own learning curve.

An experienced trader on another blog, said that when new traders want advice on becoming a new trader, they generally repy with not to do it, unless you don't need the money. In their experience, the only successful traders they had met started with substantial financial backing - this makes sense - there may have been nothing exceptional about these people, aside from the fact they had the time (capital) to surive their losses and learn from them.

When I was FIRST started getting into trading - at 15 knowing next to nothing - I went along to a free seminar about a course, offered by a company in my country. The course promoted by the free seminar was about $3,000 AUD. I took my savings, went out on a limb, and took the course. Low and behold, it was far from being worth a few hundred, let alone a few thousand. When you're that age earning about $7.5AUD / hour, that is a LOT of money. You do not know pain and frustration until you do something like that.

My point is, I would like to add the that experienced traders view of, "don't learn to trade unless you need the money" - and change it to:
Don't put all your eggs in the 'learning to trade basket' - ever.
If you feel the need to ask for advice on whether you should learn to trade, how long it takes, how much money you need; probably best to try a different career

I went through THREE YEARS of getting nowhere. Small progress, hit a wall. Fail. Small progress, hit a wall, fail. Small progress, hit a wall, fail. As a percent of time on this earth, I have spent approximately 20% of my time alive learning to trade. This year, things changed. From my experience, the vast majority of people are not ready to learn to trade.

To not deviate from the topic of this thread, my point is be extremely conservative - if you want to learn to trade, pick a backup career path, and do that, and learn to trade in your spare time. If you can look back on your time spent at Uni and your day-job and go "wow that was a waste of time, imagine if I just traded fulltime, I'd have got there much faster", fantastic. What you DON'T want, is too look back and go "gee, I wish I hadn't sent myself into long-term debt following that stupid dream". The markets will ALWAYS be there.

 

[shadowninja]

Interesting insight but I'm not sure what you're replying to.

Me personally, I've done the career thing and have spare cash available to (1) build up my own business (2) day trade. My thinking was that if I actually become a successful day trader, then I will regret not having started to learn sooner.

 

[smwinc]

Interesting insight but I'm not sure what you're replying to.

Me personally, I've done the career thing and have spare cash available to (1) build up my own business (2) day trade. My thinking was that if I actually become a successful day trader, then I will regret not having started to learn sooner.

Haha, sorry yes just my insights ;-) As you can tell from my postcount, I'm new to these boards - I saw this post and thought I'd offer my experiences.

 

[niraj shah]

it does matter which one you pick, you will be studying the same units in all the courses, its just the name of the degree, m8. only a few different units.