I am 18 and I have been following markets since I was 15. I read a lot and know about all current asset class prices from precious metals to commodities. In addition to that, I trade futures and options mostly equities and occasionally oil and gas futures. I always wanted to work on Wallstreet and work in public markets ( hedge funds) and I had a goal for making it in there but looking at these tech entrepreneurs I feel diminished. Should I focus on entrepreneurship in my college-age or after working on wall street and going to the hedge fund route and then later pursue entrepreneurship?
I just need to make a college choice I will pick colleges in California if entrepreneurship and if not I will go to college on the east coast for wallstreet
Entrepreneurship is for people with a high risk tolerance, Wall Street is for folks with a lower risk tolerance than those that aggressively pursue entrepreneurship. This is a generalization, and doesn't reflect all people.
Given that you're trading futures and options at the age of 18, something tells me you have a higher risk tolerance than most, so I recommend going into entrepreneurship.
During my first year in college I chose between day trading and spending my savings on starting a business. I believe the pandemic presented itself a unique opportunity to start a business, so I took the entrepreneur route. After a year, I was dead in the water 0 capital. I then spent a couple months trying to revive it by designing and developing websites but could only make enough to pay my bills. I learned a few lessons, spend as little money as possible, use the lean start up method, and market from the gecko. Now I’m trying to get into IB in hopes to learn the underpinnings of a successful business and hopefully apply the knowledge to my future endeavors. I understood the likely hood of my subscription business taking off was less than 1% but I still tried anyway.
Be an entrepreneur, don’t be afraid of failure, own it and move on. I truly believe failing and failing hard is really good and will improve your chances of success in the future as per Ray Dalio. Also there’s not much at risk since you’re young. So be an entrepreneur, try your best, fail, reflect, quickly learn and repeat the cycle until you reach success. Although don’t be like me, hedge your failure by keeping your grades up in college so you have a better chance of getting into banking.
Good luck!
Plzspacme
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