Soon to be a PhD in Engineering. Should I enter trading?

[kiran_thiru]

Hello everyone,

I am looking to get into trading, and would like to request a bit of advice from all you experts out there.

I am 33yrs old, and am soon to finish my PhD in engineering. My bank balance and savings are almost nil though because I had some loans etc. to pay off. On the bright side, I am close to securing a 22-25lakhs per annum CTC job offer. Growth prospects seem good too.

I have read some articles, research papers, and a book on Quantitative Finance, and the field of trading has piqued my interest. I would like to trade for personal pleasure (or pain!!), but more importantly for money (I want to be able to afford to buy a decent home sometime soon, but the real estate prices are just SCARY )

I fully understand that trading is very hard skill to learn, and will demand long hours to be put in (I possess strong programming, mathematics and statistics skills, and that may help a bit though). My day job is likely to take up about 60hrs per week though, and will likely make life harder.

So given all this, does it make sense for me to enter trading? Since I am already 33yrs of age, and have nothing in the form of savings, I am a little worried, and am thinking about giving trading a decent shot.

Thank you very much for your time and attention! I look forward to hearing from you all.

i am also same as your age. i am a plus 2 student. with 70% marks. to enter in own business i discontinued my studies. and do my business.
i started trading from past 5 years. first 3 years i vanished all my amount more than 3 lakhs with no knowledge of technical study. in that time i have no internet connection to get knowldge. after i take net connection i searched lot of websites of stock market. now i think i have some knowledge of stock market. but this 2 years also i didn't earn but loose 50 thousand.
you may notice in my above words that i reduced my losses. that means i earned some profits but i can't manage losses turns to profits.
but still i am learning knowledge of stock market in various websites. traderji is helped me a lot. we have many good tj friends here.
please follow these steps.
1. first get a job for your good living. this will gives you financial stability. so you have no problems for your life.
2. your job is 60hrs for a week. so you have some time to learn about stock market. when you have free time get knowledge form this fourm.
3. grow knowledge and get some experience in live with least amount what you have comfortable. fix some amount to loose in a month which is you have no problem with to your life.
4. if you loose total in that month in middle, you don't trade in that month and watch the market through month.
5. market has linked us with emotions. you don't give up your emotions in trading.
6. if you want to enter trading, first you must have no money problems in your life.
thank you.
learn---learn more----enter---learn----enjoy your life.

 

[Vertigo_1985]

Sir,
i am trying to give honest reply (not goody goody view)............
u r not suitable for trading.
YOUR path tells any experienced trader(2 already told)- u can never learn trading.
Its about 10yr takes to learn it. Time is against you.Other pt.
1] ur engg background dont allow to be a loser.So u hold loss/and lose 100%.
2] u read -ive books, very harmful as a trader.Quant is a gimic.(i have seen in reality/and many a socalled programmer- a total novice in real trading) maxm by utilzing that concept possible to reach upto trade-puncher.
3] u have shown -greed driven personality. So loss awaits in market.
4] atleast 4000 good traders r waiting to loot ur money, just when u join.........its not for good boys.
Just ask ur prof/guide -since they know,
.......................
May be after many yr , u may understand what i try to convey .Pl to TA degree CMT
Regards

u can never learn trading -- then how people are making money ?
Its about 10yr takes to learn it -- there are people who do it in less than 6 months, they are not from outer space, it varies from person to person and resources he utilizes.
ur engg background dont allow to be a loser.So u hold loss/and lose 100% - i am too from engg background and many other successful trader i know are too. Do we hold our losses and lose 100 % ? definitely not. A trader's mindset can be achieved with proper work.

I can counter rest of your points too but it won't be useful. He wasn't asking for reasons for which he may fail.. you are an experienced trader show him the correct path and don't scare him away.

 

[sudoku1]

Hello everyone,

I am looking to get into trading, and would like to request a bit of advice from all you experts out there.

I am 33yrs old, and am soon to finish my PhD in engineering. My bank balance and savings are almost nil though because I had some loans etc. to pay off. On the bright side, I am close to securing a 22-25lakhs per annum CTC job offer. Growth prospects seem good too.

I have read some articles, research papers, and a book on Quantitative Finance, and the field of trading has piqued my interest. I would like to trade for personal pleasure (or pain!!), but more importantly for money (I want to be able to afford to buy a decent home sometime soon, but the real estate prices are just SCARY )

I fully understand that trading is very hard skill to learn, and will demand long hours to be put in (I possess strong programming, mathematics and statistics skills, and that may help a bit though). My day job is likely to take up about 60hrs per week though, and will likely make life harder.

So given all this, does it make sense for me to enter trading? Since I am already 33yrs of age, and have nothing in the form of savings, I am a little worried, and am thinking about giving trading a decent shot.

Thank you very much for your time and attention! I look forward to hearing from you all.

I am 33yrs old, and am soon to finish my PhD in engineering.

U r young,u hav a TASK of finishing ur phd - means dis is most imp UNFINISHED task in front of u.

My bank balance and savings are almost nil though because I had some loans etc. to pay off. On the bright side, I am close to securing a 22-25lakhs per annum CTC job offer. Growth prospects seem good too.

financialy 2day u cannot b termed fit fr a riskier venture wen d coffers r nearly empty wen u hav another task of paying back ur loans wid INTEREST back.u wil secre a job & u hav a secured job-- makes a lot of diff.only wen u r on ur office desk, u may say dat growth prospects r so n so.

I would like to trade for personal pleasure (or pain!!), but more importantly for money (I want to be able to afford to buy a decent home sometime soon, but the real estate prices are just SCARY

u r gonna venture into trading fr d emotions of pleasure or pain bt at d same time u say dat money IS IMP FR U- wel, wen money is ALSO imp 2 u den it wil b fatal 2 trade fr pleasure. uR OTHER EMOTION WCH U PERCEIVE IS PAIN- wel wen if supose u encounter a loss ( always posible) den i m sorry 2 say dat d emotion of pain wil make u believe & construct a belief within u dat u SHUD feel d pain wen in loss naturaly wil kil ur skills & motivation abt d positive side dat der r also profits 2 b made in trading.ur coffers r empty bt u yet hav another imp task of buying a decent home- u wil certainly feel broken n let down wen u wil encounter a loss bcoz it wil always remind of of d primary tasks of repaying ur loan & buying a house..add 2 dat ..u believe dat real prices r scary means der is also an element of fear emotion wch u wil apply during trading of seeing pries on d ticker AS PER UR EMOTION 2 NT WAT DEY R

I fully understand that trading is very hard skill to learn, and will demand long hours to be put in (I possess strong programming, mathematics and statistics skills, and that may help a bit though). .

U HAV A FALSE BELIEF within u dat dis is hard n dat is easy....why do u feel it wil b hard...look fr d answer like u may had some incidents in ur past wher u lost,broke down,sad ,frustratd angered...u tmay hav tried a couple of times 2 overcomedis bt may hav lost 2 make urself believe dat no mater wat hapens , i wil fight again n again calmly 2 regain.wen u find ur answer n if u wilingly wil try 2 fix dat false belief, den only u wil know wat is HARD N EASY....u posses many skils wch may help u -- bt as i said earler..u wil n let down dring loss as u hav a belief system wch u feel dat u wil trade fr pleasure n pain....wen d pleasure or cockaine subsides, d real pain (losses) may break u--in short TRADING IS A SKIL NEVER 2 B ADOPTED IF U R NOT EMOTIONALLY FIT....bt at d same time d gud news is dat any1 can b fit by positively fixing d false beliefs abt urself n ur surroundings....

My day job is likely to take up about 60hrs per week though, and will likely make life harder

again u doubt abt d time u may hav 2 giv & again d false belief dat life is harder.
So given all this, does it make sense for me to enter trading? Since I am already 33yrs of age, and have nothing in the form of savings, I am a little worried, and am thinking about giving trading a decent shot.
as in love, age is no bar fr trading 2 u r worried,empty coffers, 2 mch emotional attachmaents..couple of imp tasks 2 b fulfilled , u r a worried lot n u may nt b able 2 sacrifice d required time fr trading aftr u resume a job ----my giv fr u - U R UNFIT FR A NEW VENTURE unless u fix ur current problems...on d flip side u posses certain skills wch may assist u fr trading......
.
in final sumup , u hav 2 prepare urself emotionaly & financialy & hav a belief system 2 see things positively rather den feeling dem..
YES..U CAN N ANY1 CAN.

bst of luck !!

 

[403.forbidden]

Hello everyone,

I am looking to get into trading, and would like to request a bit of advice from all you experts out there.

I am 33yrs old, and am soon to finish my PhD in engineering. My bank balance and savings are almost nil though because I had some loans etc. to pay off. On the bright side, I am close to securing a 22-25lakhs per annum CTC job offer. Growth prospects seem good too.

I have read some articles, research papers, and a book on Quantitative Finance, and the field of trading has piqued my interest. I would like to trade for personal pleasure (or pain!!), but more importantly for money (I want to be able to afford to buy a decent home sometime soon, but the real estate prices are just SCARY )

I fully understand that trading is very hard skill to learn, and will demand long hours to be put in (I possess strong programming, mathematics and statistics skills, and that may help a bit though). My day job is likely to take up about 60hrs per week though, and will likely make life harder.

So given all this, does it make sense for me to enter trading? Since I am already 33yrs of age, and have nothing in the form of savings, I am a little worried, and am thinking about giving trading a decent shot.

Thank you very much for your time and attention! I look forward to hearing from you all.

===============

Hi,

What sort of trading ?
Day / Swing / Position ?

What are you going to do with your PhD ?
You might have spent 4/5 yrs on it.

Why don't you work for 6 months,make some money and start swing/position trading ?
This is what I would do.

Trading is all about understanding our own emotions,psychology and handling our evil twin in real time(the toughest part in trading) Next comes our education, math, programming skills.

Mr.Smart_trade says , " ..you don't need to be intelligent to trade, but streetsmart.. "

I have 300 GB of trading videos and materials. Nothing helped me to understand about how the real time would be, until I figured out my own belief, greed, fear, discipline, patience, hope etc.

Telling you this from my two years experience,. if you have no real time trading experience, then please, first discuss with traders about how they handle their understanding, belief, greed,fear, hope etc in real time.
You would be going through the same phase,after you start. Every trader has to fix these things first.

Good Luck

 

[DSM]

Well said 403.... Theory and practical application of theory is like the difference between learning to fly using a simulator and a real plane - even if everything in the simulator is akin to a flight cockpit, fear come into play while flying in reality, while in simulator, its only fun.

That apart, if one is open to learning, disciplined and detached emotionally by temperament, trading mastery will come soon.

===============

Hi,

What sort of trading ?
Day / Swing / Position ?

What are you going to do with your PhD ?
You might have spent 4/5 yrs on it.

Why don't you work for 6 months,make some money and start swing/position trading ?
This is what I would do.

Trading is all about understanding our own emotions,psychology and handling our evil twin in real time(the toughest part in trading) Next comes our education, math, programming skills.

Mr.Smart_trade says , " ..you don't need to be intelligent to trade, but streetsmart.. "

I have 300 GB of trading videos and materials. Nothing helped me to understand about how the real time would be, until I figured out my own belief, greed, fear, discipline, patience, hope etc.

Telling you this from my two years experience,. if you have no real time trading experience, then please, first discuss with traders about how they handle their understanding, belief, greed,fear, hope etc in real time.
You would be going through the same phase,after you start. Every trader has to fix these things first.

Good Luck

 

[rajgreenpeace]

u can never learn trading -- then how people are making money ?
Its about 10yr takes to learn it -- there are people who do it in less than 6 months, they are not from outer space, it varies from person to person and resources he utilizes.
ur engg background dont allow to be a loser.So u hold loss/and lose 100% - i am too from engg background and many other successful trader i know are too. Do we hold our losses and lose 100 % ? definitely not. A trader's mindset can be achieved with proper work.

I can counter rest of your points too but it won't be useful. He wasn't asking for reasons for which he may fail.. you are an experienced trader show him the correct path and don't scare him away.

That person Gone to UK for P'hd..(.scared)......after his post...........(No response since his last post )..........:lol::rofl::lol::rofl:

 

[RDutt]

There are many other Ph.Ds/MBAs still struggling for success in Market.

 

[oilman5]

u can never learn trading -- then how people are making money ?
Its about 10yr takes to learn it -- there are people who do it in less than 6 months, they are not from outer space, it varies from person to person and resources he utilizes.
ur engg background dont allow to be a loser.So u hold loss/and lose 100% - i am too from engg background and many other successful trader i know are too. Do we hold our losses and lose 100 % ? definitely not. A trader's mindset can be achieved with proper work.

I can counter rest of your points too but it won't be useful. He wasn't asking for reasons for which he may fail.. you are an experienced trader show him the correct path and don't scare him away.

.......................................................................................................
Vertigo_1985,
1] i myself an engineer. So i know its blockade .The moment i think i have to accurate, ..........i shall spoil to flow with market.
2] IN 1991, i doubled in 6 month, that does not mean i know even abc of trade.
3] Even a basic with 7days knowledge, can tell market would go down today. But fact is how much money u made out of it.
U SEE IN REAL LIFE NOBODY WANTS TO TAKE TIPS AT HOTEL, that money is real, but ask for stocktips to make money.
4] that bullshit vector & price direction predict with mathematical calculation - i spoilt about 2 yr , and then by trial & failure- i know thats blind lane.
...................................................................................
Answer for him ...........he should read PANCHATANTRA.Should do CMT,
............................................
Recently in an argument in an ONLINETRADING ACADEMY thread, (presently removed)- its shown my name/my single trade earning >1 lakh. But fact is till date i have not given a single chart.Definitely for learner , something on video , i have given........through corporatebridgeacademy.
Basic thing anybody can learn from masteroftrading.com from Traderji-himself.
...................................
so far personal basis, i have seen enough money coming/going.OK

 

[tradingnoob]

Settle your loans ..

Mean while start learning TA in free time.

Once you are sufficiently learned TA Then start demo trading in demo trading platforms like GCI-Mt4.

Then think of trading small.
In the current situation I am sure if you start trading you will add more to your financial crisis.

Actually the loans have all been taken care of.

Yes, I am not really thinking about doing any real trading soon. Will just continue to dummy trade on moneycontrol . And of course, learn as much as I can.

 

[tradingnoob]

Pl to TA degree CMT

Sorry, I don't understand what you are implying here. Are you asking me to consider taking the CMT course? That's interesting. I had been thinking about enrolling in the CFA program though.