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Forex Career Profile

  • #1
  • First Post: Sep 9, 2006 1:25pm Sep 9, 2006 1:25pm
While searching for forex trading jobs, I found a profile for a foreign exchange trader on princetonreview.com. What do you guys think about this? Be sure to check out the quality of life page. Is this profile realistic?

The salary listed on that profile is pretty amazing.
Starting: $80K
5 years: $500K
10 to 15 years: $1.1MM

Wow, that really motivates me to keep going.

andersenws
"Youth is the trustee of prosperity." - Benjamin Disraeli
  • #2
  • Sep 9, 2006 5:50pm Sep 9, 2006 5:50pm
Here's an index which tracks the results of the largest funds who would presumably be in a position to pay that kind of salary:

Fund Results

Back to reality...........
  • #3
  • Sep 9, 2006 6:24pm Sep 9, 2006 6:24pm
I think it's good to believe that anything can happen.
That kind of money demands significant performance.
Not average performance, or a job title. Actual results.
Good luck.
  • #4
  • Sep 9, 2006 7:15pm Sep 9, 2006 7:15pm
Trading is said to be the most lucrative job in the world. That is why it attrracts the best. These salaries are in line with just that, salaries. I project these same numbers as my anual incoma as a sole trader

Quoting andersenws
While searching for forex trading jobs, I found a profile for a foreign exchange trader on princetonreview.com. What do you guys think about this? Be sure to check out the quality of life page. Is this profile realistic?

The salary listed on that profile is pretty amazing.
Starting: $80K
5 years: $500K
10 to 15 years: $1.1MM

Wow, that really motivates me to keep going.

andersenws
In trading, there is no bullshit. You either make money or you don't.
  • #5
  • Sep 9, 2006 9:13pm Sep 9, 2006 9:13pm
Quoting mrgreen
Trading is said to be the most lucrative job in the world. That is why it attrracts the best. These salaries are in line with just that, salaries. I project these same numbers as my anual incoma as a sole trader
This is an important point. Good traders can earn this much just trading solo, so it depends on your priorities. If a winning strategy uses low leverage and small gains per trade (1-2%), that is ideal for a fund style of trading. Most funds shy away from larger positions (>10%) because their investors are ignorant pests who can't stand drawdowns.

I have seen several good traders, who were active in online communities, get hired by hedge funds. For some people, trading a fund is a valuable transition for their career. For others, establishing a self-managed fund is the goal. It all depends on what your attitudes are toward working with others (and, most importantly, taking risks with others).
  • #6
  • Sep 9, 2006 11:49pm Sep 9, 2006 11:49pm
Quoting mrgreen
Trading is said to be the most lucrative job in the world. That is why it attrracts the best. These salaries are in line with just that, salaries. I project these same numbers as my anual incoma as a sole trader
Just Joking Mr. Green But I couldn't resist.

Is that Shoe Soles or Sole as in Fish?

I'm guessing I'll find them amongst the lesser traded Commodities like Aussie Greasy Wool Futures or something like that.
True dat.

btw. 100% best wishes that your plan becomes reality.
  • #7
  • Sep 10, 2006 2:43pm Sep 10, 2006 2:43pm
Since I read Victor Niederhoffer's 'Education of a Speculator", I trade barefoot and my picture of the Titanic keeps me mindful that just because things are going good doesn't mean I'm not gonna have to swim for it...

Thank You for the good wishes Bemac. People in this industry need all the good wishes they can get.
In trading, there is no bullshit. You either make money or you don't.
  • #8
  • Sep 13, 2006 7:52pm Sep 13, 2006 7:52pm
Quoting silverpike
This is an important point. Good traders can earn this much just trading solo, so it depends on your priorities. If a winning strategy uses low leverage and small gains per trade (1-2%), that is ideal for a fund style of trading. Most funds shy away from larger positions (>10%) because their investors are ignorant pests who can't stand drawdowns.

I have seen several good traders, who were active in online communities, get hired by hedge funds. For some people, trading a fund is a valuable transition for their career. For others, establishing a self-managed fund is the goal. It all depends on what your attitudes are toward working with others (and, most importantly, taking risks with others).
Well said.
How you act is more important than how you feel.
  • #9
  • Sep 13, 2006 8:34pm Sep 13, 2006 8:34pm
Quoting mrgreen
Since I read Victor Niederhoffer's 'Education of a Speculator", I trade barefoot and my picture of the Titanic keeps me mindful that just because things are going good doesn't mean I'm not gonna have to swim for it...

Thank You for the good wishes Bemac. People in this industry need all the good wishes they can get.
It's great to see huge fans of Niederhoffer everywhere... Other than Forex, Niederhoffer started me on the Aubrey-Maturin series (good books that teach one a sense of coolness).

Check out his site: http://www.dailyspeculations.com/

It's interesting...

Best.
  • #10
  • Last Post: Sep 22, 2006 5:56pm Sep 22, 2006 5:56pm
thanks very much for the link andersenws...

getting paid to play the only real video game??

doesn't get much better than that!
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