This is my first thread and I am definitely a beginner.
My situation: I want to be a trader, (cliche alert)
I have no capital and I am the devil's advocate.
I am a recent graduate in economics and finance and genuinely enjoy macro economic debates on markets, and derivatives, but i'm no quant,market wizard.
My main reason for going to the forums is one to gain information, two to help other people in my position , there is a lot hyperbole online and finally I find that reflection on experience helps in the learning process.
To be honest,
At the moment my prospects are not great.
I can't afford to pay and don't want to pay $000's for a training course.
As a beginner I can't start a hedge fund or raise capital haha
Maybe social trading .........the future ... Not yet anyway.
Quant positions are really difficult to get and I don't have the capacity.Be honest who does really. Be honest
The derivative equations, computer models and programming are crazy.. just saying
Investment banking is also not a realistic option in my opinion.
The only practical other paths I have left are the retail route and proprietary trading.
It sounds negative but I am just being honest.
In my opinion the only opportunities are Propex, Genesis(was Aliom) and maybe one or two more.
I am going to to have an additional thread for proprietary trading company research, preparation resources and my experience.
This will be honest not just hypothesis or biased or self interested opinion.
I am going to try Prop because it provides free education, is more socially acceptable then staying at home saying I am reading about trading and has a asymmetry similar to a call option, in terms of a slim chance of getting access to capital and advancement.
My opinion, I won't make it at the moment at least
From what I have researched,
I will be put on spread trading mainly interest rate derivatives - to have low risk with rebates and desk fees taken from profits to help pay for the training.
- so it's a fair barter in my position, rebates,desk fees on profit if any and time for training
kinda like spending your time on a survey for a free meal.
In terms of retail trading questions and ideas I will leave Pandora's box closed for now...
I look forward to other opinions and objections
Getting my proprietary research thread going
(I know this would have saved me some googling)
and finally one day being able to be a mild representation of that mysterious concept called a trader
a person who actually beats the market return with less risk.