Tim Morge, I’m baffled. Did a quick google on the guy: beside charging tens of thousands $$ for mentoring, does this guy actually trade? Does he have any trading records from his 40yrs claimed trading experience ?
Don’t manage other people’s money is an idiotic piece of advice: we wouldn’t have heard of the great traders and investors of today, from Soros to Buffett if they had followed such nonsense advice.
[QUOTE=“MrBurger;742910”]Tim Morge, I’m baffled. Did a quick google on the guy: beside charging tens of thousands $$ for mentoring, does this guy actually trade? Does he have any trading records from his 40yrs claimed trading experience ? Don’t manage other people’s money is an idiotic piece of advice: we wouldn’t have heard of the great traders and investors of today, from Soros to Buffett if they had followed such nonsense advice.[/QUOTE]
Richard,
I think your right. Total nonsense.
Have you considered working for a prop shop? They seem alot easier to get into than a bank or hedge fund.
I have not… I will look into it 
I work on the institutional side - here’s a few points on how it works …
- Investment banks hire graduates out of university (typically from the top tier) - finance background are by no means preferre or necessarily advantageous. Generally, they prefer a smart blank slate which can be morphed into an appropriate mould. A s oppose to a someone with preconceived ideas (be they correct or incorrect) which must be broken down and challenged
- funds hire a number of the people from these graduate schemes (they simply don’t have the resources or interest to do it themselves). The remaining bank cohort go on to fill the more senior position, alongside other candidates poached from other banks.
For front office roles, that’s the General mould. There are of course exceptions to every rule, but in my experience, they are few and far between.
Another point to note - trading for a bank and tradong as an individual are not comparable, they are entirely different jobs. “Prop trading” barely exists anymore, mainly due to regulatory pressure. Trading for a bank is more about structuring appropriate positions and hedges for your clients, and requires an in depth knowledge of economics rather than charts (banks are market makers - so charts aren’t really even a factor to be honest)
Anyway - that’s quite a ramble, but my point is, figure out exactly why you want to work for a bank because it’s pretty much nothing to do with day trading, and day trading experience will likely hinder rather than help your chances.
HParvez,
I really enjoyed reading your post, because:
- you work in the sector;
- you gave great advice.
Thank you…
My opinion…
Keep your money in your pocket…screw them intellectuals.
Na zdrowie,
Tim
Tim, have you got anything to contribute to this forum at all, or are you just here to spout drivel?
I must say, Eddie is right, Tim, you are writing some strange stuff… Can you try to be a bit clearer?
To clarify PipMeHappy,
If you are somewhat successful at trading, why ever consider your talents to a corruptional institution such as jp.
You are successful at trading, hold it within yourself…no need to be collared.
As far eddieb goes, your hiding your location…I have nothing to do with you, sir.
Nazdrowie,
Tim
What does my location (Europe currently) have to do with anything?
Interesting you think JP Morgan are corrupt, can you back that up, or is this just another garbage post by you?
You, sir, total defense.
now, we understand.
no, na zdrowie, for you, eddieb
My health is not in question, pippin
Mr money balls,
What are you here for?
Still waiting for you to back up your “corrupt” comment. You can, can’t you?
PS: short update from yesterday.
Being that my application has left my details ‘live’ in JP Morgan Chase’s system,
I received two more rejection letters yesterday for jobs I had not directly applied for.
Nice to know that they still care
Just as well that I did not end up
working for a bank…
Seventy-five-hour weeks?!?
Is this the real reason you work so hard? - eFinancialCareers