I'm a 22 yro recent NYU (not Stern) grad. I only had one offer lined up at graduation but the employer cut back and sent out an email to all of us saying we won't be starting until September. And that's fine as it gives me more time to decide. The job is in accounting for $52k in new york.
But I've been day trading for the last 4 years and on average I make about $8000 a month doing that. I wasn't able to land a trading gig due to my grades. If I take a full time job, I won't have time to commit to day trading. And frankly, I suck at long term investing so I NEED to keep my eyes on the screen all day long.
My parents are against doing this because for one thing, they said profits are not guaranteed each year and there's no social prestige out of this so they want me to take the full time corporate job.
And as a social thing - what the hell would I tell people? That I make a living doing something I was toying around for fun back in my dorm room? Just the other day I told an alum at a conference that I'm "an independent trader" and he's like "huh? not enough luck in the job market nowadays huh? yeah, it's tough." i kid you not!
so what now fellow monkeys?
Should I Keep Day Trading or Find a Job?
Generally speaking, our users feel that you should be applying to proprietary trading firms to look for positions. If from a percentage perspective you are making good returns, you can take that record into interviews. The OP should be doing their best to network with alumni working at those types of firms in order to get in the door.
Additionally, our users shared that you should not just keep trading for $8 K a month as that will likely not be a sustainable lifestyle after you graduate from school.
User @Addinator shared:
There is not logical reason if your making that much every month that you haven't been applying to prop shops. If you have the records to prove it I guarantee you that a prop trading shop will take you on. If not, who gives a shit? Your making 8 grand a month. Market yourself with that as your focal point, that your able to deliver out sized returns in the market. Of course that depends on your capital base.
User @IlliniProgrammer shared:
If it's working for you, keep at it. Live frugally and see if you can earn 8%/month with $200K, $300K, $400K, etc.
Use @mikebrady shared:
So what now..get your ass a job..i don't care if you make $8000 a month if you can't take some of it out for living expenses. "If I take a full time job, I won't have time to commit to day trading" That and the markets will be closed
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