Hi guys,
I'm a young 19 year old studying at uni and working a job - all that fun stuff. Currently doing a construction degree and working in the industry in a trainee/cadet type role, basically learning the ropes of well... Everything to do with the game.
I'm highly motivated and plan to be highly successful. I haven't stopped at the fact I'm doing a degree with a job that has the potential to land me on some serious money when I finish uni (project managing or certifying). I'm not into the whole ''security'' thing - I'm a natural risk taker and understand the benefits of a well planned risk/reward ratio.
So I've chosen another poison. On the side I've been heavily investing my time into the financial markets - mainly currency and prescious metals. I've been at it for nearly a year now, with live accounts for the past 6 months. I've invested in a very very good live training course which has taught me nearly everything I know in regards to technical analysis and fundamentals.
In my year as a currency trader I've made a lot of mistakes, blown up a few accounts and learned several lessons. Everyone tells me to trade a demo account until I'm 100% profitable - but there's no feeling like the realism of your hard earned money on the line. That quickly teaches you not to make the same mistake twice. It has taught me how to lose, or more importantly how to handle losing. The psychological aspect it introduces is priceless.
My live accounts are/have been (R.I.P) small (couple thousand dollars) and I've set the money aside expecting to lose it and trying to train my brain to expell all emotion attatched to it. It's a hard task but it has shown large glimpses of the rewards to come. Overall it has been a great learning experience.
My past week was a good one. I made around 200 pips which for me is an insane achievement. Whilst I only trade mini lots ($1.50 pips) I'm still very proud of it, because I know in the future if I can replicate this week on a $100,000 account at $50 pips it's some serious cash! My single monitor and rather slow computer prevents me from catching more than 2 or 3 moving pairs at once so I will be fixing this issue this year.
Now I've done a lot of thinking. I really enjoy the markets. I did some research into turning it into a career and have decided to apply for a winter internship with J.P Morgan in Sales & Trading in April, for a period running in June/July. I have some concerns - Will they want a construction student on their team? Whilst they say they take on people from all disciplines I can't help but think they're going to give the finance students the preference. I'm rather worried because I know how limited and how strict these positions can be.
I know what you're thinking - why don't I change degrees? Well I think doing an economics/commerce degree to become a trader is time wasted. Having actually been on the markets it's obvious to me that no degree can teach you how to be a good trader - they can only teach you how to trade. Only you can train yourself for the psychological barriers it involves. I know being in construction to become a trader is worse - but I like to see it as a fallback if I need it. If anything, use the job to build capital and make it as a trader on a retail level for my own personal wealth.
My current position is secure. I'm still with my parents so my outflows are minimal, I have no debt and I have time. I'm using this as best I can to build myself a solid knowledge base for the future. No time wasted! When I'm not working/at uni I'm doing a 16 hour day on the charts. I'm working as hard as I possibly can and hope to reap the rewards...
So that's my relatively short story/goals. What do you guys think?
I'm a young 19 year old studying at uni and working a job - all that fun stuff. Currently doing a construction degree and working in the industry in a trainee/cadet type role, basically learning the ropes of well... Everything to do with the game.
I'm highly motivated and plan to be highly successful. I haven't stopped at the fact I'm doing a degree with a job that has the potential to land me on some serious money when I finish uni (project managing or certifying). I'm not into the whole ''security'' thing - I'm a natural risk taker and understand the benefits of a well planned risk/reward ratio.
So I've chosen another poison. On the side I've been heavily investing my time into the financial markets - mainly currency and prescious metals. I've been at it for nearly a year now, with live accounts for the past 6 months. I've invested in a very very good live training course which has taught me nearly everything I know in regards to technical analysis and fundamentals.
In my year as a currency trader I've made a lot of mistakes, blown up a few accounts and learned several lessons. Everyone tells me to trade a demo account until I'm 100% profitable - but there's no feeling like the realism of your hard earned money on the line. That quickly teaches you not to make the same mistake twice. It has taught me how to lose, or more importantly how to handle losing. The psychological aspect it introduces is priceless.
My live accounts are/have been (R.I.P) small (couple thousand dollars) and I've set the money aside expecting to lose it and trying to train my brain to expell all emotion attatched to it. It's a hard task but it has shown large glimpses of the rewards to come. Overall it has been a great learning experience.
My past week was a good one. I made around 200 pips which for me is an insane achievement. Whilst I only trade mini lots ($1.50 pips) I'm still very proud of it, because I know in the future if I can replicate this week on a $100,000 account at $50 pips it's some serious cash! My single monitor and rather slow computer prevents me from catching more than 2 or 3 moving pairs at once so I will be fixing this issue this year.
Now I've done a lot of thinking. I really enjoy the markets. I did some research into turning it into a career and have decided to apply for a winter internship with J.P Morgan in Sales & Trading in April, for a period running in June/July. I have some concerns - Will they want a construction student on their team? Whilst they say they take on people from all disciplines I can't help but think they're going to give the finance students the preference. I'm rather worried because I know how limited and how strict these positions can be.
I know what you're thinking - why don't I change degrees? Well I think doing an economics/commerce degree to become a trader is time wasted. Having actually been on the markets it's obvious to me that no degree can teach you how to be a good trader - they can only teach you how to trade. Only you can train yourself for the psychological barriers it involves. I know being in construction to become a trader is worse - but I like to see it as a fallback if I need it. If anything, use the job to build capital and make it as a trader on a retail level for my own personal wealth.
My current position is secure. I'm still with my parents so my outflows are minimal, I have no debt and I have time. I'm using this as best I can to build myself a solid knowledge base for the future. No time wasted! When I'm not working/at uni I'm doing a 16 hour day on the charts. I'm working as hard as I possibly can and hope to reap the rewards...
So that's my relatively short story/goals. What do you guys think?
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I appreciate the welcome.
