Quitting Day Job for Entry Level Trading Job. Crazy? - Traders Hideout | futures io social day trading
futures io futures trading


Quitting Day Job for Entry Level Trading Job. Crazy?
Updated: Views / Replies:4,320 / 9
Created: by Morris Attachments:0

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors Ė all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you donít need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 
Thread Tools Search this Thread
 

Quitting Day Job for Entry Level Trading Job. Crazy?

  #1 (permalink)
Trading Apprentice
Houston, Texas
 
Futures Experience: Beginner
Platform: ThinkOrSwim
Favorite Futures: Forex
 
Posts: 7 since Nov 2010
Thanks: 1 given, 0 received

Quitting Day Job for Entry Level Trading Job. Crazy?

I've been thinking about quitting my current job to take ANY entry level job for a trading firm. Anyone thought about doing this to reduce their learning curve? I want to surround my life with trading at all times. I have a passion for trading and my current job is just that, a job, that pays well. Opinions?

Reply With Quote
 
  #2 (permalink)
Quick Summary
Quick Summary Post

Quick Summary is created and edited by users like you... Add FAQ's, Links and other Relevant Information by clicking the edit button in the lower right hand corner of this message.

 
  #3 (permalink)
Elite Member
Oslo
 
Futures Experience: Advanced
Platform: NinjaTrader
Favorite Futures: Forex
 
aediaz1's Avatar
 
Posts: 57 since Apr 2011
Thanks: 20 given, 38 received


Try WTS Proprietart Trading Group where you can join a "open house" session with only a few thousands in trading-capital (last time I checked) and trade under their wing or SMB Capital if you got the money to pay someone to teach you. That could be a start.

"We may not be able to control the wind, but we can always adjust our sails"
Reply With Quote
 
  #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

Just to make the distinction a retail prop shop isn't the same as an entry level job. Not to say that it can't be a successful path for some people but it isn't a job per se. You pay for the upfront training and you take all the risk.

@Morris what is your education? The days that a shoe shine boy could become a runner on the floor are long over. These days if you don't have a Masters in Physics, Math, Finance, or Computer Science it seems like it is pretty hard to get your foot in the door.

My suggestion would be to essentially work two jobs. Either continue your day job 9-5 and trade the euro session or get a night job and trade during the day. I did this for awhile working 8-5, go to sleep at 7, wake up at 1:00 (6 hours of sleep can be done) rinse and repeat. You don't have much of a life but that is pretty damn realistic if you don't have the capital and confidence to straight up quit on your own. This will give you the trading experience you need and you risk nothing more than your initial capital. Most people won't do it because it is a serious amount of work. This is also why you should do it. Beat out the 95% with work ethic.

Reply With Quote
The following user says Thank You to eudamonia for this post:
 
  #5 (permalink)
Trading Apprentice
Houston, Texas
 
Futures Experience: Beginner
Platform: ThinkOrSwim
Favorite Futures: Forex
 
Posts: 7 since Nov 2010
Thanks: 1 given, 0 received

I started sim trading not long ago so I have a long road ahead of me. Figured I might as well submerge my life with everything trading if I want to learn quickly. Most of the vocabulary here is still a different language to me so I have a lot to learn. I agree that working a day job and learning is probably the best solution for me at the moment. It's just my day job cuts into the learning time during market hours.

I'd rather learn from a mentor, someone that I can watch live and ask questions. Until that time comes I can just read books, search the internet and continue sim trading.

If you have any advice as to where I should start that would be great!

I read that BigMike will be making a webinar for beginners like me that I'm greatly looking forward to watching.

Thanks,
Mike

Reply With Quote
 
  #6 (permalink)
Elite Member
Fort Myers, Florida
 
Futures Experience: Master
Platform: TradeStation
Favorite Futures: Currency
 
Posts: 25 since May 2015
Thanks: 0 given, 6 received

Advice to Morris

Get a good sideline that is close to where your passion is. In Houston, go interview companies and try to get into their finance department or computer department. If you can travel, work for internet companies or startups and work in your profession. My passion would be on the floor of the CME in Chicago. I'd have to go to hand signal school and trade in the pits. I read a story of a guy named: Pit Bull. He would buy / sell only one contract at a time. And he kept saving his money. Finally, he had a deep feeling in the pit of his stomach that Monday would be a bad day. So, he bought out of the money puts and when Monday rolled around, he was up in his office trading the puts, while the stock market fell
1000 points. He made 5 million that day. And when he came downstairs to see these traders trying to sell their seat on the CME, he bought a few. Now that's a Jesse Livermore trading day one won't forget!!

Reply With Quote
 
  #7 (permalink)
Trading Apprentice
Houston,TX,USA
 
Futures Experience: Beginner
Platform: ThinkorSwim
Favorite Futures: Gas & Oil Futures, Stocks
 
Posts: 3 since Jun 2015
Thanks: 0 given, 0 received

Most trading firms here won't hire you unless you have a math/compsci degree, plus an MBA and experience trading. Or a finance degree, technical degree, and trading experience. I wanted to work for a friend of my parents who runs one of these firms and she said that I couldn't work there unless I have those qualifications.

Reply With Quote
 
  #8 (permalink)
Elite Member
Philadelphia
 
Futures Experience: None
Platform: corded black telephone
Favorite Futures: ticker tape
 
Itchymoku's Avatar
 
Posts: 2,892 since Apr 2012
Thanks: 1,681 given, 3,622 received

One of my friends did really well in school and applied to bnp paribas and was accepted as being in the top 1% of applicants. He eventually started trading on their behalf. He made good money, but he'd often work 60-80 hours a week. He eventually opted out to work as a programmer for Amazon. He said financial work was incredibly boring and demanding. Now he loves going to work in jeans and a t-shirt.

Reply With Quote
 
  #9 (permalink)
Elite Member
seoul, Korea
 
Futures Experience: Intermediate
Platform: Multicharts
Broker/Data: CQG, DTN IQfeed
Favorite Futures: YM 6E
 
treydog999's Avatar
 
Posts: 894 since Jul 2012
Thanks: 291 given, 1,006 received

Quitting your day job for an entry level trading job? hm... depends on how much you make in your day job vs the risk of finding a solid entry level job that would lead to what your end goal is. Not a lot of "retail" prop shops are going to give you the institutional experience it sounds your looking for. The retail props are like trading arcades, you pay to play and maybe you learn and maybe you don't. But you take all the risk and pay up front. While if you get picked up by an investment bank, or fund you will receive this environment and training on their dime. But they take the risk on you, which is why the selection process is so difficult. The days of even the CME floor being the place to go for trading, is over. Any of the books you have read from Jessie Livermore to pit bull no longer apply. Also going from back office to front office transition used to be a viable road but now it is not so much.

I am currently employed at a private fund in Asia doing Strat Dev and Trading. There may be some differences between Asia and current USA environment but from my current understanding they are fairly similar. Graduate degree in Math or Technical fields, either pure mathematics, robotics, engineering, CS, financial engineering etc. At least proficient in 1 prototype language (R, Python, Matlab, Scala, SAS). Proficiency in Java, C ,C++ , C# and previous experience at financial institutions in the USA/Canada or Europe a plus. Not many people do this but if you can bring in a brokerage account that has been profitable for a couple years, its a definitely going to get their attention. That is just to sit down at the interview, and no guarantee you will even get the spot.

Reply With Quote
The following 3 users say Thank You to treydog999 for this post:
 
  #10 (permalink)
Elite Member
New York, New York, United States
 
Futures Experience: Beginner
Platform: TOS
Favorite Futures: Options
 
vitrader's Avatar
 
Posts: 53 since Jul 2015
Thanks: 13 given, 6 received



Morris View Post
I've been thinking about quitting my current job to take ANY entry level job for a trading firm. Anyone thought about doing this to reduce their learning curve? I want to surround my life with trading at all times. I have a passion for trading and my current job is just that, a job, that pays well. Opinions?

I don't know what the details of your current situation are, but I will tell you I have personally considered what you are considering years ago and even considered quitting my job to spend a few years at home and study fulltime. I am still not where I want to be all these years later so the learning curve is much longer and difficult than you can imagine.

I wish it was true that one can just quit their job, follow their desires and live happily ever after, but it doesn't seem to work that way to me. At the same time, I am sure there are a select few that have positively experienced what I described and if they are out there, please teach me.

Also keep in mind that I live close to Manhattan, New York, one of the most recognized homes of traders. Most, if not all of what people here are saying is true regarding entry-level trading jobs. Sadly it isn't like they pay you $30-50k/year to teach you everything so that they can then give you more money to trade with to make a higher salary.

Reply With Quote

Reply



futures io > > > Quitting Day Job for Entry Level Trading Job. Crazy?

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Jigsaw Trading: TBA

Elite only

FuturesTrader71: TBA

Elite only

NinjaTrader: TBA

Jan 18

RandBots: TBA

Jan 23

GFF Brokers & CME Group: Futures & Bitcoin

Elite only

Adam Grimes: TBA

Elite only

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
The Italian Job redratsal Traders Hideout 667 May 9th, 2014 03:54 AM
Inside Job Documentary (2010) Big Mike Off-Topic 37 June 10th, 2011 02:28 PM
How Renting Out Your Home Could Help You Get a Job Quick Summary News and Current Events 1 June 3rd, 2011 10:16 PM
Optimus/Broker Job mattz Off-Topic 0 December 1st, 2010 11:22 PM
Market Maker's job alex123 Psychology and Money Management 5 November 12th, 2009 02:55 AM


All times are GMT -4. The time now is 06:54 PM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-12-16 in 0.16 seconds with 19 queries on phoenix via your IP 54.145.16.43