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Career ?
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Created: by JohnnyAustin Attachments:0

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View Poll Results: Stay in IT or Trade?
IT 3 37.50%
Trade 5 62.50%
Voters: 8. You may not vote on this poll

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Career ?

  #1 (permalink)
Elite Member
Austin, TX
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: Amp and Zenfire
Favorite Futures: TF
 
JohnnyAustin's Avatar
 
Posts: 362 since Dec 2010
Thanks: 116 given, 433 received

Career ?

Hi guys. Got a question for you.

In the job I'm at, I am making decent money doing IT work for a company which just went public successfully. I can stay here in the IT department, getting various IT certifications, earning more pay, and eventually moving up. However, as the company is a global company with offices around the world, it is subject to currency risk and metals risk. They have started an individual who's sole job is to mitigate currency and materials cost through trading.

So, in the next 1-2 years here, would you stay in IT or move to one of 2 positions on the trading desk?

Of course, when I have time (very rarely) I do sim at home and my for-profit site goes into beta this weekend or early next week. Lots of irons in the fire over here.

Many thanks to the site and all the contributors. Great source of info.

Last edited by JohnnyAustin; September 1st, 2011 at 03:18 PM.
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  #2 (permalink)
Membership Temporarily Revoked
Currently Inactive
 
Futures Experience: None
Platform: None
Broker/Data: None
Favorite Futures: None
 
Posts: 25 since Aug 2011
Thanks: 9 given, 8 received

Neither

Wow, tough decision!

I assume that you have on-call duties. How often do you get called out and how does it effect your trading?

Do you like IT or did you just enter IT for the opportunities?

Are you interested in commercial hedging (not what the retail traders call hedging) and are you willing to immerse yourself into learning everything that you can about it?

The answer lies within you.

I did not enjoy IT so I left it behind. Commercial hedging would be too academic and boring for me. My vote is for neither option.

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  #3 (permalink)
Elite Member
Tucson AZ/USA
 
Futures Experience: Beginner
Platform: TradeNavigator
Favorite Futures: ES
 
casey44's Avatar
 
Posts: 133 since Jan 2010
Thanks: 1,923 given, 124 received


Trading desk.
Judging by your picture, you're a racer, good for you with F1 coming to Austin.

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  #4 (permalink)
10 out of 10
Sacramento, CA
 
Futures Experience: None
Platform: None
Broker/Data: OX and DeCarley
Favorite Futures: Futures options
 
eudamonia's Avatar
 
Posts: 310 since Jul 2010
Thanks: 299 given, 424 received

That's a fortunate choice that you have in front of you. Let's see spending my days researching metals and currencies risk or doing IT? Hmm wouldn't be a hard decision for me at least!

Good luck with whatever you choose. My advice is go with what you are passionate about.

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  #5 (permalink)
Elite Member
Austin, TX
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: Amp and Zenfire
Favorite Futures: TF
 
JohnnyAustin's Avatar
 
Posts: 362 since Dec 2010
Thanks: 116 given, 433 received

Well, I'd have to become more familiar with college level finance courses, so Finance or IT. I feel like Finance is where I'd be most happy. I currently hold a Series 7 and 66 licenses and have worked as a financial planner before, so I'm ahead of the curve for sure.

Casey44, my avatar is The Stig. But that said, I am an avid ( or rabid, your choice )Formula 1 fan and am jumping up and down with joy for the inagural F1 race in Austin.

Many thanks to the site and all the contributors. Great source of info.
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  #6 (permalink)
Elite Member
Williamsburg, VA
 
Futures Experience: Intermediate
Platform: ThinkorSwim
Favorite Futures: Stocks
 
worldwary's Avatar
 
Posts: 523 since Mar 2010
Thanks: 259 given, 788 received

If the pay for both jobs is similar, then go with the one that excites you the most. If pay is significantly higher for the job that doesn't excite you as much, then you've got a tougher decision to make.

I'd personally go for the trading job unless the pay was a major issue.

-----------------------------------------------------

"If you must forecast, forecast often."

-- Edgar Fiedler
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  #7 (permalink)
Elite Member
NC, USA
 
Futures Experience: None
Platform: None Yet
Favorite Futures: Guitar
 
MrYou's Avatar
 
Posts: 403 since Jun 2011
Thanks: 618 given, 193 received

I was in IT for 15 years. I am pretty burned out on it, but after being downsized, I've been underemployed for a few years now. But thanks to lifes bumps in the road, I have found a passion for automated trading and I believe I will be successful some day and find the freedom I seek.

I would suggest staying with your job and since you're in IT, I would be researching automated trading strategies in your spare time. To help you get started I would suggest downloading NinjaTrader (for free) and download futures market replay data (for free, from within NinjaTrader) and start playing around and coding. At some point, when you're ready, sign up with Kinetick for $50/month and create strategies for stocks.

You might go ahead and express interest in the trading dept. at your current company. Ask what you should be studying/researching. Once you can provide some profitable examples you might see if you can get a position there. You have a much greater chance of getting a trading job within your current company than with another company (not likely at all actually).

The bottom line is you can't make money in trading until you are profitable. This doesn't happen overnight. It can take years. Definitely do not just "jump ship" and leave your current job!!

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  #8 (permalink)
Elite Member
Portland Oregon, United States
 
Futures Experience: Beginner
Platform: Ninjatrader®
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Zondor's Avatar
 
Posts: 1,327 since Jul 2009
Thanks: 1,246 given, 2,635 received

make the most of it

Take maximum advantage of your current situation. Don't underestimate the value and replacement cost of your benefits such as health insurance. Save as much as you can.

Practice in replay whenever possible and get ready, your position will be outsourced soon enough.

Best wishes!

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  #9 (permalink)
Elite Member
Austin, TX
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: Amp and Zenfire
Favorite Futures: TF
 
JohnnyAustin's Avatar
 
Posts: 362 since Dec 2010
Thanks: 116 given, 433 received

MrYou, please check out my trading journal

Many thanks to the site and all the contributors. Great source of info.
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  #10 (permalink)
Elite Member
Chicago Illinois USA
 
Futures Experience: Advanced
Platform: Ninja Trader
Broker/Data: IB
Favorite Futures: duh hammer!
 
wldman's Avatar
 
Posts: 2,069 since Aug 2011
Thanks: 967 given, 2,624 received

Learn to trade...


with SOMEONE ELSE'S money and earn a salary in the process. Catbird seat! Consider that very valuable. Especially the ability to transition internally and perhaps have an edge over very qualified applicants.

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