I'm a successful private trader. What's the best career path for me?
I did the military for 5 years after highschool and I'm now going to Columbia GS, financial economics.
I started studying and trading the currency markets when I was 18(7 years ago) and I've become successful, using just price action and trend lines to trade trends that last a few days to a few weeks.
Been doing 5% to 7% a month for the last 2 years.
I used to think I wanted to join the finance world and make a name for myself, however I've realized that anywhere I go, I'll have to ignore most of what I've learned about trading and investing(because my methodology is fairly radical) and adopt the investment methodologies of my employer, and the investment philosophies of the mainstream finance world(you know, the worship of FA)**.
These would be the same investment methodologies and philosophies that have not only led to the repeated stock market crashes in the 12 years,but also, for the most part, failed to predict them.
I know I could just graduate with a degree and then just sit on a beach somewhere, but that's a boring wasted life. I want to make a name for myself, learn the ins and outs of the financial world, and develop networks of peers so that I could someday start my own financial business.
Is there a certain sector I could go into so that I could continue my trading on the side? Or are there hedge funds or banks where I could used my own skills? Or something else?
Thanks for the advice.
**Read the intelligent investor, total respect for Warren Buffet's patience, but I think as money can always be made quicker and more predictably through price action analysis.






sounds like you should look
sounds like you should look into Prop Trading
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5%-7% on what capital base?
5%-7% on what capital base? Do your strategies scale?
Yes they scale. I wouldn't
Yes they scale. I wouldn't waste my time building a strategy that exploits a temporary inefficiency.
"It's not that I'm so smart, it's just that I stay with problems longer." - Albert Einstein
If you are truly annualizing
If you are truly annualizing at between 80-125% per year, you should have little trouble getting seeded. The problem is, nobody is going to believe those returns. If you can get that track record audited by a reputable firm and the numbers are what you claim, some multi-strat fund would probably give you some money. I think that it is highly doubtful that the results are anywhere near as good as you think they are.
Turbo leverage for capital explosion -- BD Capital
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SirTradesaLot: If you are
If you are truly annualizing at between 80-125% per year, you should have little trouble getting seeded. The problem is, nobody is going to believe those returns. If you can get that track record audited by a reputable firm and the numbers are what you claim, some multi-strat fund would probably give you some money. I think that it is highly doubtful that the results are anywhere near as good as you think they are.
Where did you get 80-125%? You are a HF partner and I'm not even in a FO role and I even know if you annualized 5-7% its like 40%-60% annual returns.
Frank Sinatra - "Alcohol may be man's worst enemy, but the bible says love your enemy."
aicccia: Yes they scale. I
Yes they scale. I wouldn't waste my time building a strategy that exploits a temporary inefficiency.
you'd be surprised how we see this and you see this would vary. My seat at my firm costs the company $25,000 a month. I am salaried as well, (not included in this amount) and bonus on performance. For the company to get value out of you, they need at least double that per month, including costs.
yeahright: SirTradesaLot: I
If you are truly annualizing at between 80-125% per year, you should have little trouble getting seeded. The problem is, nobody is going to believe those returns. If you can get that track record audited by a reputable firm and the numbers are what you claim, some multi-strat fund would probably give you some money. I think that it is highly doubtful that the results are anywhere near as good as you think they are.
Where did you get 80-125%? You are a HF partner and I'm not even in a FO role and I even know if you annualized 5-7% its like 40%-60% annual returns.
(1.05^12)-1 = 79.59%
(1.07^12)-1 = 125.22%
Turbo leverage for capital explosion -- BD Capital
My WSO Blog
SirTradesaLot: yeahright:
If you are truly annualizing at between 80-125% per year, you should have little trouble getting seeded. The problem is, nobody is going to believe those returns. If you can get that track record audited by a reputable firm and the numbers are what you claim, some multi-strat fund would probably give you some money. I think that it is highly doubtful that the results are anywhere near as good as you think they are.
Where did you get 80-125%? You are a HF partner and I'm not even in a FO role and I even know if you annualized 5-7% its like 40%-60% annual returns.
(1.05^12)-1 = 79.59%
(1.07^12)-1 = 125.22%
You're right, I apologize.
Frank Sinatra - "Alcohol may be man's worst enemy, but the bible says love your enemy."
Thanks for the info guys.
Thanks for the info guys.
"It's not that I'm so smart, it's just that I stay with problems longer." - Albert Einstein
trazer985: aicccia: Yes
Yes they scale. I wouldn't waste my time building a strategy that exploits a temporary inefficiency.
you'd be surprised how we see this and you see this would vary. My seat at my firm costs the company $25,000 a month. I am salaried as well, (not included in this amount) and bonus on performance. For the company to get value out of you, they need at least double that per month, including costs.
Gotcha. Thanks.
"It's not that I'm so smart, it's just that I stay with problems longer." - Albert Einstein
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I help people with the tough situation of not knowing how to respond to emails.
edit: im at a HFT, the costs
edit: im at a HFT, the costs of our setups are a lot of that cost. if you're manually doing it, with reasonable software, your costs will be vastly reduced.
Look into prop trading roles.
Look into prop trading roles. If you can substantiate your trading record, some shop will seed you. Even if it isn't the best to start, at least build a record that you can take to a better shop after awhile.
You sound like a good guy, so
You sound like a good guy, so i will give my unbiased $0.02
Seeing that i currently work at a hedge fund, specifically a fund of funds, first you might be overstating your returns 5% monthly will make you one of the best managers right now.
Your strategy might be working but it might not be scalable - i cant count how many times we see good small managers AUM $5-10M give them another $5M and they can't sacle the strategy. You might think it is scalabe but you will never know with a sub $100k trading book.
Finally if you are really into your strategy you should look the prop direction because no solid bank might be that welcoming for an under dog, keep your cool and know you are in a very critical industry.
I have a friend who started
I have a friend who started out as a trader for a bank but then started his own 3 person shop for propriety trading. I don't see why you can't make a name for yourself even if you successful on your own?
monkeyDD: You might think it
"It's not that I'm so smart, it's just that I stay with problems longer." - Albert Einstein
First, that is an amazing
andres17: By the way, how do
"It's not that I'm so smart, it's just that I stay with problems longer." - Albert Einstein
Seems like prop is for you. I
Used to trade Forex a few
SlikRick: Used to trade Forex
SirTradesaLot: If you are
"My caddie's chauffeur informs me that a bank is a place where people put money that isn't properly invested."
mikesswimn: Those numbers
Make opportunities. Not excuses.
what specific pairs, market
aicccia: I'm not trading a
Whenever there are these
I second Benjammin - the
How do you define "risk" when
OP, I understand where your
SirTradesaLot: yeahright:
Death is certain; Life aint.
ST Monkey: what specific
"It's not that I'm so smart, it's just that I stay with problems longer." - Albert Einstein
Benjammin822: Whenever there
"It's not that I'm so smart, it's just that I stay with problems longer." - Albert Einstein
DkrCap: How do you define
"It's not that I'm so smart, it's just that I stay with problems longer." - Albert Einstein
monkeyDD: I second Benjammin
"It's not that I'm so smart, it's just that I stay with problems longer." - Albert Einstein
.
"It's not that I'm so smart, it's just that I stay with problems longer." - Albert Einstein
Aside from prop trading, you
"I swear, by my life and my love of it, that I will never live for the sake of another man, nor ask another man to live for mine."
i have been able to do
Just keep trading on your
I don't accept sacrifices and I don't make them. ... If ever the pleasure of one has to be bought by the pain of the other, there better be no trade at all. A trade by which one gains and the other loses is a fraud.
Not a trader, but $5000
I hate victims who respect their executioners
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