Any Professional Traders Here? Need Insight

[Heist]

Are there any professional traders on the board?

And no, I'm not talking about daytrading your Ameritrade account. I'm talking heavy volume, leverage, FOREX, bond market, commodities. If the names, SAC, Cerebus, Goldman Equities unit, Soros, Loeb, Drunkemiller mean anything to you, please respond. I need some insight.

I'm seriously thinking about making a major change in my career direction after having worked for several years in various management capacities outside of the finance realm in Corporate america. As I've always known, the only way to make money in corporate management (and by money I mean >$200K a year) is to be the CEO, CFO, or some other high ranking officer.

Your ability to generate income for yourself is limited by your rung on the ladder with no basis in meritocracy. That's why I loved WS...the model is basically 75% to the company, 25% to you plus bonus for any revenue you bring in and medical benefits. Not exactly 50/50, but a fuck of a lot better than YOU'LL ever get at any public company unless your name is on the articles of incorporation.

Corporate Sales - Ok, if you can't "sell" or manage people, you need to get the fuck out of corporate America --- FAST! Either that or get yourself a nice comfy assitant or secretary position.

Marketing - Marketing research says we should go here. Pretty picture here, say this here, set pricing strategy there, check the packaging, negotiate that contract...ok, so???? How do YOU make $?

Advertising - Ok, I have better things to do than look at pretty pictures and marketing research data all day to find out "where" my consumer is -- so I can buy ad space and commercials to place more pretty pictures. How do you make $?

Finance - Why would I want to be in corporate finance? How do you win? The best I could do is shoot par all day. Worse, if I don't shoot par me and the CFO will end up doing a bid together. Fuck that! How do you make $?

Accounting - Right, add the worst parts of legal compliance, tax law plus the most mindnumbing number crunching work to save $100K. Fucking what?! I've read how traders lose $100K to commission on full volume trades. Again, why would you want to do this. How do you make $?

Legal - Hey, read this shit and check to see if they're any liabilites to the organization and don't redline the shit out it. How do you make $?


I was orginally headed to either MS or GLDMan NYC units as "internal client services rep", but 9/11 hit just before I graduated and both offers were rescinded due to market volatility.

Me: BA Economics from a Top 20 ranked institution.
Good fundemental knowledge of world wide financial markets and the outer workings.
Wrote prediction model and thesis on Baht crisis and Euro upswing.
Quant background (a little rusty).
Great analysis skills but don't want to be an analyst ever again.
Excellent personal and written communication skills.

Holla if you know what's up. Seriously, I just need some baseline questions answered.

 

[Heist]

^^^

 

[BigATLslim]

Hey Heist. I may be wasting your time. I am not a day trader but am familiar with the language and jargon you speak on investing. I actively managed my 401K, have dabbled in HYIP's, penny stocks, and lost my shirt in real estate. I understand risk and I understand money due to the fact I am not trying to lose my shirt again. So, let's just open a dialogue and I will see if I can help you. All I do is research. I live for it.

 

[neo_cacos]

Well...what do you want to know...???
I'm not a prof. trader....although that was part of my career plans out of Univ ( I was actually on the way to a Mutual fund cy, but I let that go and switch to do something else. (long story). Anyways, I'm putty sure I can answer some of your questions.

neo

 

[Heist]

Hey Heist. I may be wasting your time. I am not a day trader but am familiar with the language and jargon you speak on investing. I actively managed my 401K, have dabbled in HYIP's, penny stocks, and lost my shirt in real estate. I understand risk and I understand money due to the fact I am not trying to lose my shirt again. So, let's just open a dialogue and I will see if I can help you. All I do is research. I live for it.

Sounds like a plan to me. The more intel the better. How'd you lose your shirt in real estate by the way? Returns there up until the market correction last year were nothing short of phenomenal.

 

[Heist]

Well...what do you want to know...???
I'm not a prof. trader....although that was part of my career plans out of Univ ( I was actually on the way to a Mutual fund cy, but I let that go and switch to do something else. (long story). Anyways, I'm putty sure I can answer some of your questions.

neo

Did you actually work for a mutual, Neo or where you training for it? I'm looking for someone who can briefly walk me through the daily nuts and bolts aspect of the business? What I should expect to do on a daily basis? What sort of training I need. How the compensation structure works? Work enivornment? Trend analysis. etc. etc.

I can only read the "highlight" reels but so much. I need a better understanding of the operations.

If you can help, thanks.

 

[neo_cacos]

- Found this....
http://www.soforum.com/training/SIP_index.php
Make sure to double check with Universities too, they usually have good info about this stuff.

- No I did not work the MF cy, I decided to take another job after the interview.

Training:
First thing 1st, you'll need usually 1 or 2 basic courses to get your foot in the door.
a) basic securities, what they are and how they are used
b) rules and regulations of the fin markets.

The job itself:
Usually it's like starting out at an accounting firm or law firm....it sucks for the 1st 2 or 3 yrs, the pay is shitty (less than 35 K), you work a lot ....and you will be doing mainly ADMINISTRATIVE TASKS. But the 1st years are crucial, cause you have to demonstrate initiatives and learn the system, the more interest you show, the more the company will be willing to send you to further training and pay for it, of course.

Day to day:
-Customer service for corporate clients.
-Taking orders
-Daily reconcilations and account verification
-Research for the clients and for the porfolio managers (this is where it's important to understand the IT system used by the company).
-Basic analysis that you will feed to your manager.
-Sales of financial services
-Maintaining client's information
-Assisting in preparing propectus (depending which division you're in)
-Explaining details of certain rules and regulations to the clients.
etc...

For the future:
Once you're in , you may specialize your self in...
-bonds
-securities
-insurance
-investment banking
-loans
-pensions
-certified analyst
-sales
-derivatives.

Money:
If you want 6-7 digits, you have to be in SALES or PURE TRADING.


Hope that helps.

neo.

 

[Heist]

- Found this....
http://www.soforum.com/training/SIP_index.php
Make sure to double check with Universities too, they usually have good info about this stuff.

- No I did not work the MF cy, I decided to take another job after the interview.

Training:
First thing 1st, you'll need usually 1 or 2 basic courses to get your foot in the door.
a) basic securities, what they are and how they are used
b) rules and regulations of the fin markets.

The job itself:
Usually it's like starting out at an accounting firm or law firm....it sucks for the 1st 2 or 3 yrs, the pay is shitty (less than 35 K), you work a lot ....and you will be doing mainly ADMINISTRATIVE TASKS. But the 1st years are crucial, cause you have to demonstrate initiatives and learn the system, the more interest you show, the more the company will be willing to send you to further training and pay for it, of course.

Day to day:
-Customer service for corporate clients.
-Taking orders
-Daily reconcilations and account verification
-Research for the clients and for the porfolio managers (this is where it's important to understand the IT system used by the company).
-Basic analysis that you will feed to your manager.
-Sales of financial services
-Maintaining client's information
-Assisting in preparing propectus (depending which division you're in)
-Explaining details of certain rules and regulations to the clients.
etc...

For the future:
Once you're in , you may specialize your self in...
-bonds
-securities
-insurance
-investment banking
-loans
-pensions
-certified analyst
-sales
-derivatives.

Money:
If you want 6-7 digits, you have to be in SALES or PURE TRADING.


Hope that helps.

neo.

Good start. Thanks. Sales or Trading are the only things I'm interested in. Research - I'd kill myself. Client Services - LOL. IT/Operations - Not a tech/date geek.

 

[BigATLslim]

Heist, to be real, I did not do my homework on my "team." I got into the residential real estate investment game here in Atlanta. Some good, most bad but not daunted. I understood my mistakes and I am coming back with a vengance.

I went to the library in my area today and they had a SLEW of books on FOREX, IPO investing, commodities and the like. Research IS my forte. I see that is not your strength but trot down to your local library and just skim and scan.

A lot of good free information and test booklets are possibly there so that your learning curve does not "cost" you as much as it may cost another because they chose not to do homework. We need more like you Heist, more like you. I am trying to take over the world everyday. It never stops...it never stops.

Dayyyum, let me tell you a story. CNBC had these guys on who were not even 25 yeras old yet who were traders (white). One was good, knew it and was a pure asshole. I liked him for his confidenc though. Another guy was real relaxed but he was not trying to divulge too much info either. Then there was this one guy named Tom Sykes. His parents gave him $12,000 for his Jewish bar mitzvah because they figured he blow it. This little nigga turned it into 1.6 million in FOUR years.

That is what keeps me going. Sh!t like that. Hey, I watch Wall Street, the movie, to keep me motivated. Look at it as a documentary and not a movie and when you heare the numbers they talk about in that movie in the 80's, it is just unbelievable. Whew, let me shut up.

 

[mrjones]

I'm a Proffessional Trader. I've been trading since 1996. High risk.........Forex,Commodities(Futures and Options)etc............I know that you know the fundamentals of Economics, and that's a good start......... What did you want to know? Without getting into your Business............. It depends on how much that you have to play with, If you are trading fundamentally or technically, Short term or long term. Day trading or position trading. Again, what did you want to know? Practice your strategies, and be realistic. Then get into the game, if you aren't already in.

 

[Chase Bannon]

Are there any professional traders on the board?

And no, I'm not talking about daytrading your Ameritrade account. I'm talking heavy volume, leverage, FOREX, bond market, commodities. If the names, SAC, Cerebus, Goldman Equities unit, Soros, Loeb, Drunkemiller mean anything to you, please respond. I need some insight.

I'm seriously thinking about making a major change in my career direction after having worked for several years in various management capacities outside of the finance realm in Corporate america. As I've always known, the only way to make money in corporate management (and by money I mean >$200K a year) is to be the CEO, CFO, or some other high ranking officer.

Your ability to generate income for yourself is limited by your rung on the ladder with no basis in meritocracy. That's why I loved WS...the model is basically 75% to the company, 25% to you plus bonus for any revenue you bring in and medical benefits. Not exactly 50/50, but a fuck of a lot better than YOU'LL ever get at any public company unless your name is on the articles of incorporation.

Corporate Sales - Ok, if you can't "sell" or manage people, you need to get the fuck out of corporate America --- FAST! Either that or get yourself a nice comfy assitant or secretary position.

Marketing - Marketing research says we should go here. Pretty picture here, say this here, set pricing strategy there, check the packaging, negotiate that contract...ok, so???? How do YOU make $?

Advertising - Ok, I have better things to do than look at pretty pictures and marketing research data all day to find out "where" my consumer is -- so I can buy ad space and commercials to place more pretty pictures. How do you make $?

Finance - Why would I want to be in corporate finance? How do you win? The best I could do is shoot par all day. Worse, if I don't shoot par me and the CFO will end up doing a bid together. Fuck that! How do you make $?

Accounting - Right, add the worst parts of legal compliance, tax law plus the most mindnumbing number crunching work to save $100K. Fucking what?! I've read how traders lose $100K to commission on full volume trades. Again, why would you want to do this. How do you make $?

Legal - Hey, read this shit and check to see if they're any liabilites to the organization and don't redline the shit out it. How do you make $?


I was orginally headed to either MS or GLDMan NYC units as "internal client services rep", but 9/11 hit just before I graduated and both offers were rescinded due to market volatility.

Me: BA Economics from a Top 20 ranked institution.
Good fundemental knowledge of world wide financial markets and the outer workings.
Wrote prediction model and thesis on Baht crisis and Euro upswing.
Quant background (a little rusty).
Great analysis skills but don't want to be an analyst ever again.
Excellent personal and written communication skills.

Holla if you know what's up. Seriously, I just need some baseline questions answered.

Now is a good time to get a bunch of your buddies and start a holding company.

 

[CybaCipha]

FOR MY STOCK AND TRADING LIBRARY
http://www.bgol.us/board/showthread.php?t=344332