starting a business vs. trading
Hi
I'm a sophomore at a target school in NYC, and have thought trading as my career going forward. But then I also have wanted to run a company, be in charge on the process, meet people, build something from nothing, and make mucho cash. As I read various articles, books and threads, I am beginning to think that trading, especially directional one, is more of managing risk on a random outcome. I also think the field of trading, regardless of product whether it be commodities or financials, is being more and more flooded with the best and the brightest from all over the world lured by the riches a few have made. I believe the competition is a lot fiercer in trading over a few opportunities seen by so many.
I admit that I also was drawn to trading by Gordon Gekko, Paul Tudor Jones, and many more who seemed to have the best jobs in the world, but realistically, to fulfill my dream of becoming filthy rich, being an entrepreneur is more sensible.
what are the good and bad things about trading and entrepreneurship?
The best of both worlds. Trade for a coupe of years, make some dough, spend your dough on your venture. Succeed or fail - either way you have options.
trading is all about making money. fuck meeting people and making friends. fuck being the boss of your own company. it's all about the chinchilla scrilla in manilla and if you're not down with that then trading isn't for you.. trading is a calling, not a career option or something to fall back on. it's not even something that you test the waters with. successful traders don't question whether they want to be them or not. they know for sure that that's what they need to be doing.
I think you forgot to source Ed Seykota on that one.
It would be much easier to go from trading to entrepreneur than the other way around. And you can always start planning your business while working at a BB until you are comfortable to take the leap. The guy who started Ocado used to be a EURJPY trader at GS for example.
These are two of the riskiest careers out there, but the potential reward is high. That said, being a trader is a lot more conventional than being an entrepreneur: you network, edit your resume and cover letter, send out job apps, and repeat. Starting your own company is a lot less structured and a lot more dependent on you. That said, I'd prob start with finding out if trading is for you by starting in a S&T SA position.That way, you'll be in a good position to for FT positions with your summer exp. If it's not for you, you can be free to start your own business with no regrets. It's a lot harder going the other way, starting your own business and failing and then trying to become a trader.
"realistically, to fulfill my dream of becoming filthy rich, being an entrepreneur is more sensible." - By the way, this is retarded. If this is your mindset, you will fail.
This man confronted a similar dilemma:
Start a trading company. Problem solved.
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