Need advice from learned members on this forum

[global trader]

Hello hedgefund 13
You are already on the correct track because you are doing CFA!
So I am guessing you are in a Finance related job? and I am guessing your basic degree in in Commerce or Accounting?
Couple of things
- Based on above assumption can you try and get some back office job with a brokerage/ bank trading and then see if you can get in to trading

Besides this have you tried your hand at atleast Demo trading the market of you choice?

I don't know if in India if one can demo trade
But in US
Futures try any Futures broker they will give you free demo
FX: Any broker in US/UK / Australia etc
Demo trading is not as good as real because it is play money but at least you wil see if you can try your skills

 

[ryan4ucar]

You actually have a much higher chance of doing well in life if you get an MBA (from a top 10 college) than if you do CFA or become a daytrader.

Sure wealthy day traders do exist but how many?

On the other hand take most good companies .... you can see CNBC and when ever a director/CEO/CFO/senior executive is interviewed just go over to wikipedia and check their education background there's a very high probability he/she will be from IIT/IIM/top 10 type college.

The reason is not because they have a superior brain but because they have a strong alumni network. Its the alumni network that gets them good high paying jobs and good promotion prospects. You maybe smarter than them but they will still do better than you because of this reason.

Sure it is hard to get in but its a one time thing, after you come out you won't have to struggle as much as those who didn't go there.

Consistent profitable day trading is very very hard among the several hundreds of day traders I've met just a handful have had some success and maybe 1 or 2 have become very wealthy.

You don't have to believe me but as its your future career here on the line do your own research.

The grass is greener always on the safer side i see.

Your advice is sound and good and almost every Indians dream , safe job good money good title.


All the guys who have built the best companies in the world either have the least education or are dropouts and the best educated people in the world work for them (But these best educated MBA's can run companies but cannot create them).

It all depends on what one wants to do in life sadly to become an entrepreneurs is a lot of handwork few people are willing to go through.


In the end its ones choice are you willing to work hard enough at the start of your life and become an entrepreneur.

Or do you want to study well get a safe job and then work as hard as you can all your life to get promotions.

both paths have pros and cons it should be ones choice.

 

[Verde]

All the guys who have built the best companies in the world either have the least education or are dropouts and the best educated people in the world work for them (But these best educated MBA's can run companies but cannot create them).

Very true.
One of my childhood friends left school after 7th Standard to do business. Today he has the Sony dealership in 4 states and is one of their top dealers.
The MBA degree will not make money in the market, but it will get the holder a job, where he loses other peoples money.

 

[hedgefudge13]

Hello hedgefund 13
You are already on the correct track because you are doing CFA!
So I am guessing you are in a Finance related job? and I am guessing your basic degree in in Commerce or Accounting?
Couple of things
- Based on above assumption can you try and get some back office job with a brokerage/ bank trading and then see if you can get in to trading

Besides this have you tried your hand at atleast Demo trading the market of you choice?

I don't know if in India if one can demo trade
But in US
Futures try any Futures broker they will give you free demo
FX: Any broker in US/UK / Australia etc
Demo trading is not as good as real because it is play money but at least you wil see if you can try your skills

Yes global trader , my basic degree was in acccounting and finance .
And currently i dont have a job cause of medical reasons .

And yes , That is my plan . to woek as an equity reseach analyst for a while and then leave to have a fund/firm of my own .

And even I havent come across demo trading in india , none of my brokers have offered me that . but we do have various virtual market games , so I can use them for testing , plus with metastock we can backtest an algorithm so i was hopeing that would come in handy .


Thank you for the guidance ,

HedgeFudge

 

[hedgefudge13]

The grass is greener always on the safer side i see.

Your advice is sound and good and almost every Indians dream , safe job good money good title.


All the guys who have built the best companies in the world either have the least education or are dropouts and the best educated people in the world work for them (But these best educated MBA's can run companies but cannot create them).

It all depends on what one wants to do in life sadly to become an entrepreneurs is a lot of handwork few people are willing to go through.


In the end its ones choice are you willing to work hard enough at the start of your life and become an entrepreneur.

Or do you want to study well get a safe job and then work as hard as you can all your life to get promotions.

both paths have pros and cons it should be ones choice.

Thank you ryan for the support . And yes , i am willing to put my whole life for having a fund of my own . but yes , even what the rest have posted is also valid i guess .
I guess i need to find the sweet spot between risk and reward , which would be best for me .

Thanking ,

HedgeFudge

 

[Einstein]

Hi all ,

I am a 23 year old who is interested in becoming a full time trader . I wanted to ask on this forum , if earning a good amount of money through daytrading/swing trading is it possible and realistic in india ? (unlike in the US , during a bull market stock prices jumps 10times)
And is it a good a good move to become a full time trader now ? I will be giving my CFA level 1 in Dec2014 . And I dont really see the point of doing an MBA .
and jobs in the Finance industry is kinda low paying for a newbie (15k-20k) , which is really pissing me off , as we work around 15hours a day and most of the saturdays too .

I would like some guidance or wise words to give me some direction regarding this matter .

Thanking and awaiting replies ,

HedgeFudge

Karmaṇyēvādhikārastē mā phalēṣu kadācana, mā karmaphalahēturbhūrmā tē saṅgō'stvakarmaṇi.

 

[hedgefudge13]

Karmaṇyēvādhikārastē mā phalēṣu kadācana, mā karmaphalahēturbhūrmā tē saṅgō'stvakarmaṇi.

Thank you sir ,
This is a much neeeded reminder . I shall keep doing my work without even bothering about the end result .

Btw, I saw you'r post/thread regarding the indicator . I would like to know how tyou made it ? (not asking the criteria you used to make it ) but more like the process ?

Regards,

HedgeFudge

 

[Einstein]

Its useless!!.. copy paste from web with some minor/major changes.