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How to be a trader for a company?

  • #321
  • Oct 4, 2008 10:38pm Oct 4, 2008 10:38pm
Even though this is a old thread I will give another way to get a job.

I looked for all the firms around me and I found the one that was the biggest yet more relaxed and went to it told them to sign me up for a demo account and I would bring my own lap top and all I need was a plug and a wireless modem to connect to and I got a job after high profit months for 4 months, without pay, but I got the job with a 2.4 GPA in high school and no college what so ever.
  • #322
  • Oct 5, 2008 12:58am Oct 5, 2008 12:58am
Given how things are; I think its easier to get the job of chairman of the fed. treasury secretary or some such thing. Doesn't really need a great resume or previous experience

Quoting Code4Capital
Even though this is a old thread I will give another way to get a job.

I looked for all the firms around me and I found the one that was the biggest yet more relaxed and went to it told them to sign me up for a demo account and I would bring my own lap top and all I need was a plug and a wireless modem to connect to and I got a job after high profit months for 4 months, without pay, but I got the job with a 2.4 GPA in high school and no college what so ever.
  • #323
  • Oct 5, 2008 1:47am Oct 5, 2008 1:47am
I was in Lehman's at Canary Wharf two days before the bankruptcy. An acquaintance of mine, a senior director, had just been canned, all his stock options were worthless, and he's 50+ years old. Not a pretty sight, even for a stiff-upper-lip type of Brit. His job was to find tax loopholes for clients. When the going gets rough, its the functionaries that go first. This man, a lovely guy, had depended on the synergy of the firm to make him rich. He had not learned how to take risk. My point: learn to take risk, cope with all those emotions, and do your own thing. You'll be much much better off in the long run.

Lenoxer
  • #324
  • Oct 5, 2008 4:23am Oct 5, 2008 4:23am
Way to get a job as a trader? Persistance. Every hiring stage that a company looks for traders, apply.. even if unsuccessful, apply for the next one too. And the next and the next. Eventually they will give you a shot. Once you get that shot, be ready to impress/kiss ass. Its how most traders (non bank, more for hedge funds and prop companies) get there. Its easy to get into a job with a degree, but you will find that most of the degreed up jack asses have no fucking idea about anything and generally fired in the 3 month trial period every contract entails. I work for a relatively large trading company, and someone is fired/quits every fortnight because of the stress/they just cant cut it. Its alot harder than trading for yourself, despite what others like to think. Thats why the salaries are huge, and the comission packs are even bigger.
Trading retail, if you know how to trade. Is alot easier, if the broker doesnt mess with you. Purely because when you trade retail, no one is hunting your orders except the broker. Forex is war, you chuck a 1000 lot position in there and someone is gonna want your blood.
  • #325
  • Oct 18, 2008 4:20am Oct 18, 2008 4:20am
Get a series 3 then you can start considering being a trader for a company, possibly prop FX, series 7 for prop equities. That's all I can say I don't like being a source of misinformation if anything.

best regards.

Best bet, trade for yourself and be very good over time you possibly won't want to or need to trade for anyone.
"Diversification is an excuse for a lack of talent" ~FXC
  • #326
  • Oct 18, 2008 4:22am Oct 18, 2008 4:22am
Quoting Takisd
Forex is war, you chuck a 1000 lot position in there and someone is gonna want your blood.
Amen to that. "when I see blood, I want to eat."
"Diversification is an excuse for a lack of talent" ~FXC
  • #327
  • Oct 20, 2008 11:13am Oct 20, 2008 11:13am
Good thread,

But I have a question to whoever wants to take it.
I am studying/demoing/trying forex (systems/news/tecnical analisys,etc) for almost 2 years.
After all that period of time, I started a demo acc 6 month ago to play it like it was a real and who knows some day use it as a proof of consistent profitability.
6 month and I am up 80% in my acc, I am consistent week after week...
Ok but my question is...
What is next for me?
I got no money to invest for myself, I got too many debts, no loans to take, bad credit, near bankruptcy (what else, well I think my point is well taken...) but i got some good results. I am not saying here that I saw the light, but I think it is time to go for real. and I don't know how.
How can I get an investor who is willing to give me a chance to trade for him/her, starting with a small acc, let's say 10K?
Or otherwise, what am I supposed to do at this point?
Thanks for the advise...
  • #328
  • Oct 20, 2008 12:38pm Oct 20, 2008 12:38pm
Quoting KudzuFX
Many traders look at the idea of getting a job trading for a hedge or a bank as a prestigious job. To have such a prestigious job you should expect to show some kind of prestige to your prospective employer - fancy degree, fancy university, fancy results, fancy connections.

Actually, there is more prestige trading for yourself making money year after year. There aren't too many doing that. This is an elite club. Some of the guys trading at banks wish they could go out on their own, but they are too scared of failing without the banks software, hardware, bank roll, market depth info to prop them up.

I believe you, I am saying Amen to your prayers. Amennnnnnnnnnnnnnnnnnnnnnnnnnn
  • #329
  • Oct 20, 2008 12:43pm Oct 20, 2008 12:43pm
Quoting ForexCoach
I agree with you 100%.

Why waste your time trying to convince someone else you can trade successfully and make a fraction of what you could make by trading on your own?????

Also, consider the psychological factor.......you will trade differently, (probably more conservatively) for someone else, then you would if you traded for yourself.

The elite club IS the club of traders who have become full time successful traders and trade on their own, for themselves. Why have a JOB, when you can have a YOB (Your Own Business)???????


I'd rather be my own boss
  • #330
  • Oct 20, 2008 12:47pm Oct 20, 2008 12:47pm
Quoting toti1972
Good thread,

But I have a question to whoever wants to take it.
I am studying/demoing/trying forex (systems/news/tecnical analisys,etc) for almost 2 years.
After all that period of time, I started a demo acc 6 month ago to play it like it was a real and who knows some day use it as a proof of consistent profitability.
6 month and I am up 80% in my acc, I am consistent week after week...
Ok but my question is...
What is next for me?
I got no money to invest for myself, I got too many debts, no loans to take, bad credit, near bankruptcy (what else, well I think my point is well taken...) but i got some good results. I am not saying here that I saw the light, but I think it is time to go for real. and I don't know how.
How can I get an investor who is willing to give me a chance to trade for him/her, starting with a small acc, let's say 10K?
Or otherwise, what am I supposed to do at this point?
Thanks for the advise...
Dude build your own 10K account, you start out small with a few hundred bucks and just trade micro/mini and build your account doing this you will learn so much about your trading and yourself.
  • #331
  • Edited 2:38pm Oct 20, 2008 2:23pm | Edited 2:38pm
Quoting toti1972
Good thread,

But I have a question to whoever wants to take it.
I am studying/demoing/trying forex (systems/news/tecnical analisys,etc) for almost 2 years.
After all that period of time, I started a demo acc 6 month ago to play it like it was a real and who knows some day use it as a proof of consistent profitability.
6 month and I am up 80% in my acc, I am consistent week after week...
Ok but my question is...
What is next for me?
I got no money to invest for myself, I got too many debts, no loans to take, bad credit, near bankruptcy (what else, well I think my point is well taken...) but i got some good results. I am not saying here that I saw the light, but I think it is time to go for real. and I don't know how.
How can I get an investor who is willing to give me a chance to trade for him/her, starting with a small acc, let's say 10K?
Or otherwise, what am I supposed to do at this point?
Thanks for the advise...
No serious investor is going to take your results from a demo account seriously.......... And no serious investor that sees your personal finacial history is going to get within 10 miles of you, let alone allow you to trade 10K for them..
Sorry about the reality check.
Same Whore .... Different Dress
  • #332
  • Oct 20, 2008 2:47pm Oct 20, 2008 2:47pm
Quoting Lenoxer
I was in Lehman's at Canary Wharf two days before the bankruptcy. An acquaintance of mine, a senior director, had just been canned, all his stock options were worthless, and he's 50+ years old. Not a pretty sight, even for a stiff-upper-lip type of Brit. His job was to find tax loopholes for clients. When the going gets rough, its the functionaries that go first. This man, a lovely guy, had depended on the synergy of the firm to make him rich. He had not learned how to take risk. My point: learn to take risk, cope with all those emotions, and do your own thing. You'll be much much better off in the long run.

Lenoxer
I've been on both sides and I KNOW you are right!
  • #333
  • Oct 20, 2008 3:48pm Oct 20, 2008 3:48pm
Quoting johnedoe
No serious investor is going to take your results from a demo account seriously.......... And no serious investor that sees your personal finacial history is going to get within 10 miles of you, let alone allow you to trade 10K for them..
Sorry about the reality check.

Well ok, forget about the financial situation, it is not so bad after all, I just wanted to avoid getting the first simple answer: "get 10k from your credit card or your bank and start on your own account"
Is it a fact that nobody is going to give me a try if I never traded for real, even though I show consistent profits for more than 6 month in demo?
  • #334
  • Oct 20, 2008 5:13pm Oct 20, 2008 5:13pm
the difference between demo trading and real money on the line is profound.....
and yes, nobody in their right mind is going to let you trade real money for them if have no real experience.
Same Whore .... Different Dress
  • #335
  • Oct 20, 2008 5:15pm Oct 20, 2008 5:15pm
Quoting Gnat
I've been on both sides and I KNOW you are right!

He is actually right, taking risks is a consistent part of life. Even drinking water is a risk, who knows what chemical reaction is taking place in the liquid.

Aderogba
  • #336
  • Oct 21, 2008 12:46am Oct 21, 2008 12:46am
Quoting toti1972
Well ok, forget about the financial situation, it is not so bad after all, I just wanted to avoid getting the first simple answer: \"get 10k from your credit card or your bank and start on your own account\"
Is it a fact that nobody is going to give me a try if I never traded for real, even though I show consistent profits for more than 6 month in demo?
Toti,

Do you really want to trade for a living? Why? Do you want to spend the rest of your life taking risks to pay off your debts? Do you want to have others give you money just so you can take care of you and yours in hard times? Face it.....you have to much emotion and demo trading is only the beginning. You'll accomplish your dreams when you know they are real. For now I'm afraid your S.O.L. sorry Move on to doing something that will provide in the real life. Trading is fake.
  • #337
  • Oct 21, 2008 4:22am Oct 21, 2008 4:22am
.
Quoting sleep1Iopen
Toti,

Do you really want to trade for a living? yes Why? I am sure it is what I want to do, otherwise I'd have not spent 2 years + just studying and reading and practicing as much as I could. Do you want to spend the rest of your life taking risks to pay off your debts? I want to spend the rest of my live as a profesional trader, (taking risk to pay my debts? a $12/hs job is not a risk? working 20hs a day to pay off debts is not a risk? well, then yes, I want to take some risk to pay off my debts if you consider that way...but I can remember to have read something like \\\\\"risk comes from not knowing what we are doing\\\\\" (thanks to W.B. here) so I assume as a pro I will be able to take some risk to pay my bills. Do you want to have others give you money just so you can take care of you and yours in hard times? yes and them too...Face it.....you have to much emotion and demo trading is only the beginning. That's why I consider it is time to go for real, just as the next step in the learning process to become a pro. You'll accomplish your dreams when you know they are real. Sure. For now I'm afraid your S.O.L.(?) sorry Move on to doing something that will provide in the real life. (what do you mean? should I quit trying FOREX? why?)
Trading is fake.(aren't you a pro?, are not you making your living out of trading? why couldn't I) Maybe I misunderstand something here...Thanks...
  • #338
  • Oct 21, 2008 4:44am Oct 21, 2008 4:44am
Quoting toti1972
.
Thoughtsome bro.........
  • #339
  • Oct 21, 2008 10:25am Oct 21, 2008 10:25am
Quoting toti1972
.
There's at least a couple blogs out there where the authors are attempting to take a $500 account to $150K in less than 10 years. Start with that plan and I'd say after a couple years, if you're for real, you'll be a long ways towards proving yourself. Good luck!
  • #340
  • Oct 21, 2008 10:37am Oct 21, 2008 10:37am
Quoting sam111
Hello Toti,
As you have said that you have been working on forex for last 2 years and now trading in a demo account. You can go for some investors who r wiling to invest in this market. Help them out and take some amount from as your compensation for hlping them out. Provide tips regarding trading and tools for trading. Try this and if require any help you can contect me. There are many online trading platforms and brokers who provide online facility like the AVAFX, eToro, easy forex, i forex and many more. I have tried for AVAFX it is a very nice online platform with a fast downloading speed and providing nice tips and anlaysis.

Best of luck
MOTHER OF ALL STUPIDITY!!!!!!!!DAM!
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