by Gavin M.
I'm sure you've heard of all the promotions and ads out there touting trading as your gateway to riches and your way to leave your 9-5 job. It has always been hyped up that why would you bother working for a corporation when you can work for yourself. There are some parts of that statement that is true but majority of it is baseless.
Most of us traders were once employed. I was once an engineer, a trader at an investment bank and so on and so forth. The experiences I gained working for corporations helped form the foundations of what I am today. You cannot just simply go at this trading gig without getting some sort of experience.
More importantly, the statement above that said don't work for the MAN and be your own man is largely false. If you are a stock trader, what would you trade if such corporations did not exist? We all have our part to play in the greater scheme of things. Just as not everyone can be a doctor, not everyone can be a trader.
Reality is harsh but accept it. If everyone could be a trader, then why would they all bother promoting other degrees? It is for the same reason that only 1 in 10 people ever become a successful trader. It's a mix of everything you see. You have to have the right attitude. You got to have the motivation. Most of all, you have to have some money prepared for this business. In a world where everyone is encouraged to be whatever you want to be, most people will never want to come to terms with something that they fail to excel at.
The most difficult thing I have ever done in my life so far is to look a student in the eye a few years ago and tell that person that they are just not cut out to be a trader. Of course young people are full of bravado and their egos are easily bruised, they will relent and reject reality.
There will always be those out there who pretend to be a trader, who love the idea of being a trader and who actually live as a trader. Traders don't have a certain look or attitude. Traders are often private people who hide in the shadows of their own home offices and meticulously pore over their techniques day in and day out in the hopes of improving their net profits.
These young kids on Twitter acting so cocky and brave, well, only time will tell if their foolishness will truly yield results. I'm still alive and kicking. The people I knew 5 years ago on Twitter no longer are.
Traders from Equity Sense will be writing on this blog on positions and other market-related things.