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Old 05-08-2002, 04:03 AM
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Default Re: What if I told you...



I don't think there are any satisfied guys that are what you would call traders working today. Guys that are "traders" are almost all to a man looking just to find a way out on their own with their own bankroll. Trading someone else's money is just a holdover to get them some cash and angles to work. Traders that use other's money are under extremely tight leashes with miniscule limits. Imagine you work for say Goldman and their billions of dollars. Now you see a great opportunity in currencies, great right? Not really, they will put a limit on you that will make you laugh. Most set aside theoretical bankrolls and tell you to limit your exposure on these bankrolls to 2 or 3%. So if you hit a home run trade it looks great on paper until you realize they made more in 10 minutes just on the interest from their stock of T-Bills. Its pointless really, that is why there are few real traders that are working for the banks. Most of the traders are actually account traders making the trades that the banks and brokers require, then on the side they try to use their inside knowledge to trade their own accounts. Problem is that is risky too. Say you get active and start making money, well great. Problem becomes a big action day comes and the orders are coming non-stop and you see opportunities and risks everywhere. However your job is to trade the banks money, not your own so your money is greatly at risk at these very moments a ton of money is won or lost. These reasons are why if you really want the glory and the money, trade yourself. No guaranteed paycheck, no easy access to the info and insight you get with the bank...but no glory or riches either.


Best thing for this guy to do would have been save the money he spent on tuition and open a trading account...if trading is all he ever wished to do in the first place.
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