risky opportunity

[Rudey]

Originally posted by CC1GC
Thanks for the reply rudey.

You've echoed many of the same sentiments given to me while i spoke to local brokers in the industry; last year during my series of interviews. To say the turnover is high is a considerable understatement. And, i didn't consider this as a career until the opportunity was handed to me. Here's some information about the company -

http://archive.ottawabusinessjournal...nt%0A%09%09%09

What the article doesn't tell you is that their traders only trade the same stock. Wow boring, but would it be unreasonable to suggest that if any traders became efficacious on a stock that it would be this type of trader? Also, the 4 month training period is your opportunity to hack it under their system. There was a certain amount that needed to be achieved by the 3rd month (i think it might have been around 5) in order to continue. Theoretically, depending on my process I would know by the 3rd or 4th month to stay or leave. Lastly, I would also be certified by this period, so that if this particular career (within the industry) wasn't for me I would have other opportunities available (because of my CSC). Anyways, the way my living situations are working out i'll probably have to prolong graduate school a year, easily giving me time to give this a shot and return to full-time hours as a bellman.

"efficacious on a stock" question:
-Usually when you trade, you specialize towards a certain product. They concentrate on those products because they learn the markets really well in those areas, etc. Those that deal with pure stocks make beans compared to options traders. When you deal with a stock, if you are lucky, you profit a few percentage points. When you deal with an option, you are looking for something in the range of 300% because of the level of risk. That is essentially the type of trader that does well. Day traders, on average, don't do well. There are lots of exceptions though but usually those that do well have a lot of experience. I don't care how great they say their training is.

-The thing about seeing how it goes a few months into is, basically means trading isn't for you. If they say you have to profit by a certain amount, I would read more into that. I don't even think you will be profiting 4 months into it.

Check out elitetrader.com

-Rudey