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university or more time for trading

  • #21
  • Aug 2, 2011 4:09pm Aug 2, 2011 4:09pm
Don't forget about all the ladies and beer
  • #22
  • Aug 2, 2011 4:53pm Aug 2, 2011 4:53pm
Go to college, and after graduation; get a good job. Save enough money to start your FOREX education (you will need a lot). Work on mastering the art of trading (could take years not months...be ready for a long haul) while you have a job. You can fall back on FX trading as a second career in case you wind up with a crappy initial career.
  • #23
  • Aug 2, 2011 5:59pm Aug 2, 2011 5:59pm
Go to University ONLY if you actually need the degree for your chosen field (lawyer, Engineer, doctor). Too many people go into debt to get a worthless degree to end up flipping burgers. Plus they are giant indoctrination camps that cranck out cookie cutter people. Ask 10 university graduates a question and get 1 answer, whatever they were programmed with.

I'd say get a job, practice trading and save until you have a big wad of cash, then trade for the real deal.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #24
  • Aug 3, 2011 1:11am Aug 3, 2011 1:11am
Quoting isaacyassar
I met trading after graduated from university. But If I were to start all over again, I'd personally go for university plus trading on spare time. After graduated, I may go full time.

University was fun for me. Lots of spare time to explore life experiences, gave me more character, and plenty of fun. Many priceless moments of my life are in university

Trading is naturally a boring business, like fishing, plenty of waiting patiently and professionally. If you don't combine it with fun things, you can go nuts quickly. So imo more time to...



OP-listen to this very good advice you will not regret.after few years when you will come back with your degree and job you will also appreciate this advice.
Trade responsiblypatience is the key/Swing trader
  • #25
  • Aug 3, 2011 5:39am Aug 3, 2011 5:39am
Quoting LasVahGoose
Go to University ONLY if you actually need the degree for your chosen field (lawyer, Engineer, doctor). Too many people go into debt to get a worthless degree to end up flipping burgers. Plus they are giant indoctrination camps that cranck out cookie cutter people. Ask 10 university graduates a question and get 1 answer, whatever they were programmed with.

I'd say get a job, practice trading and save until you have a big wad of cash, then trade for the real deal.
I agree, lot of people do some degrees literally for nothing, in my case university is not good choice for me... i started when i was 18, now i am 20, and i am thinking about future life. I have already decided to invest my time only in to the forex and par time to part time jobs to increase my equity, i am profitable nearly, but not on consistently basis, i have also good support from parents and friends, so probably i am lucky man...I only want to know whats the opinions of the others traders :-)
  • #26
  • Aug 3, 2011 10:00am Aug 3, 2011 10:00am
Quoting petertrader
How many of consistently profitable people have a graduation at an university? What do you think what is better choice, studying at an university and do trading ( but only few hours per day) or do trading almost all the day?
Possibly none of the above.

If you want to be a doctor, lawyer, engineer or any of the other highly regulated professions you may need a degree to pursue your career choice due to regulatory pressures. But for some careers (such as a computer programmer or if your ambition is to run a business) uni is definitely optional (and can even be a hinderance). Doing one of the more obscure subjects at university (to aquire non marketable skills) may only be worthwhile for the fun you will have.

But on to trading.

If you are already reasonably wealthy you could quite possibly make a living from trading your own account. You'd need at least $100,000 of capital to make even a modest living (without risking meltdown), but $250,000 is probably more realistic. Uni might give you the earning power to get your capital base in place faster than if you don't go.

Then, of course, there are the skills you need to trade which include a very good grasp of maths and, ideally, the ability to program. You might need university to aquire those if you don't have them already and are not good at self-learning.

So there's no black-and-white answer!

Medran
  • #27
  • Aug 3, 2011 11:25am Aug 3, 2011 11:25am
Quoting Medran
Possibly none of the above.



You'd need at least $100,000 of capital to make even a modest living (without risking meltdown), but $250,000 is probably more realistic. Uni might give you the earning power to get your capital base in place faster than if you don't go.

Then, of course, there are the skills you need to trade which include a very good grasp of maths and, ideally, the ability to program. You might need university to aquire those if you don't have them already and are not good at self-learning.

So there's no black-and-white...
For trading for a living you dont need a $100,000, you can make 10-20% per month, so $10000-$20000 is enough to make $1000-$2000 per month

Forex isnt about maths and ability to program (can be but it isnt very profitable method) forex is about simple profitable plan, based on the statistical edge + patient and discipline, nothing else ;-)
  • #28
  • Aug 3, 2011 11:37am Aug 3, 2011 11:37am
Quoting petertrader
For trading for a living you dont need a $100,000, you can make 10-20% per month, so $10000-$20000 is enough to make $1000-$2000 per month

Forex isnt about maths and ability to program (can be but it isnt very profitable method) forex is about simple profitable plan, based on the statistical edge + patient and discipline, nothing else ;-)
Delusional! What if you have a bad month and make 2%? What are you going to live on?

$10K - $20K is enough to get started and start building your pot but it won't support you for a living.
  • #29
  • Aug 3, 2011 12:08pm Aug 3, 2011 12:08pm
I mean 10-20% is average (sometimes 40%, sometimes 3%), I am 20, so it is enough for me I dont have a family and I live with my parents ;-)...From job I am going to live and money earned on the forex i will reinvest and increase volume, so it is enough for my "living"

Quoting willf
Delusional! What if you have a bad month and make 2%? What are you going to live on?

$10K - $20K is enough to get started and start building your pot but it won't support you for a living.
  • #30
  • Aug 3, 2011 5:16pm Aug 3, 2011 5:16pm
Seeing as how you have the support of your parents, and you say you have enough equity for your style of trading, I say there's nothing wrong with say taking a year off of college to see how it goes!

I'm actually doing sort of the same thing, I'm 24 and just got out of the Army. I plan on taking at least a year off to give trading my full attention since I've been having pretty good results. If it doesn't work out, college will always be there waiting for me next year! If it does work out, then I have a career that will make me happy and wealthy!

Too many people give up opportunities to be great just to become what society deems as "normal". Shoot for the stars, bro, and maybe you'll end up being exceptional! Good luck man!
  • #31
  • Aug 3, 2011 8:12pm Aug 3, 2011 8:12pm
Quoting PipJaeger
If it doesn't work out, college will always be there waiting for me next year! If it does work out, then I have a career that will make me happy and wealthy!

Too many people give up opportunities to be great just to become what society deems as "normal". Shoot for the stars, bro, and maybe you'll end up being exceptional! Good luck man!
Good point, thanks for the support, ;-) I also wish you good luck...
  • #32
  • Mar 13, 2016 12:57pm Mar 13, 2016 12:57pm
Find a way to do both.

Seriously, it's not like you have to stare at the charts 24/7 to trade.

If you're planning to do that, you'll likely be superstressed out. That's not the right way to trade and it's not worth quitting the University for.

If you're planning to do some price action swing trading, there's no way you'll have to leave one to have more time for the other.

Make the wiser and the winning choice.

Now whether you have plans or not for the future that will need your degree, I don't know. If you're paying for Uni, I hope you'll use all what you've learned.
  • #33
  • Mar 13, 2016 1:38pm Mar 13, 2016 1:38pm
Forex is the risk of getting and losing everything. In order to be successful in forex trading, you need to properly manage risk. For a start, assess your risk that you will be successful in forex trading against the fact that you will give the university.
You can not hope only on forex earnings. It is necessary to have a job in order to be financially sustainable.
  • #34
  • Mar 14, 2016 4:34am Mar 14, 2016 4:34am
Quoting petertrader
How many of consistently profitable people have a graduation at an university? What do you think what is better choice, studying at an university and do trading ( but only few hours per day) or do trading almost all the day?
In order to be profitable may be sufficient for several hours a week. All depends on your desires.
But go the way of education is still necessary. Fully put all time to trade Forex can be a problem at losses. Education like insurance. Perhaps years later you'll no longer want to trade, you'll want to have your business ... maybe
  • #35
  • Mar 14, 2016 5:17am Mar 14, 2016 5:17am
University!

Luckily I was excellent in a subject I was passionate about. The social life and extra curricular were amazing, and still are. I can get a job wherever and whenever I want, or be self employed in my chosen field.

Trading, on the other hand, tends to be a solitary and often exasperating pastime, even when you get good and enjoy it. It helps to have a healthy amount of capital which will get you through the rough patches. (5 major hedge funds have closed in the last 5 years). The social life is limited to sorting through traders on these boards and weeding out the less than mediocre, delusional, braggers, scammers and psychotics. Then, when you socialise with friends, they have no clue whatsoever what it is you do, but assume you have plenty of cash not tied up in positions, and expect you to pay the restaurant bill.

Of course, the opposite could happen. University could be a drudge. You chose the wrong subject and got the Dean's daughter pregnant. The family will never forgive you and you end up living under Westminster bridge in a cardboard box.

If you chose trading, you were wildly successful, the markets were perfect and you turned $10,000 into $10,000,000 in 2 years. The secretary you employed to take the money to the bank turned out to be a darling and you...

Dream on...
Gone to a better place
  • #36
  • Mar 14, 2016 5:20am Mar 14, 2016 5:20am
Quoting smikester
University! Luckily I was excellent in a subject I was passionate about. The social life and extra curricular were amazing, and still are. I can get a job wherever and whenever I want, or be self employed in my chosen field. Trading, on the other hand, tends to be a solitary and often exasperating pastime, even when you get good and enjoy it. It helps to have a healthy amount of capital which will get you through the rough patches. (5 major hedge funds have closed in the last 5 years). The social life is limited to sorting through traders on these...
Not to mention they can pull the pin on leverage at anytime..
Time hides Nothing
  • #37
  • Mar 14, 2016 5:32am Mar 14, 2016 5:32am
Quoting CindyXXXX
{quote} Not to mention they can pull the pin on leverage at anytime..
That is true and a valuable point.
Gone to a better place
  • #38
  • Mar 14, 2016 5:48am Mar 14, 2016 5:48am
Quoting smikester
{quote}That is true and a valuable point.
I accept your quote and reply with the following;

Thank you, for your comment

(Submitted 14 March 2016, 21:48 AEST)
Time hides Nothing
  • #39
  • Mar 14, 2016 5:54am Mar 14, 2016 5:54am
Quoting CindyXXXX
{quote} I accept your quote and reply with the following; Thank you, for your comment (Submitted 14 March 2016, 21:48 AEST)
Oh. The University of Life.
Gone to a better place
  • #40
  • Mar 14, 2016 10:15am Mar 14, 2016 10:15am
This question should be not on the forum traders, and at a meeting with mind.
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