Do you know of someone who does trading for a living

[cyke69sg]

Got a few of my ex-school mates trade full time - mostly US markets

They now own several properties - you say good or not lor

I say the BEST!
Finance is the best.
If I could turn back time I would go into finance as I had originally intended. Then I wouldn't even be in Canada. Be in SG enjoying life.

 

[Sanguoshitaisen]

Do you know of any full time trader?

meaning the person only do trading and don’t work? Or do trading with a lepak part time job?

how’s the person doing? Did he or she huat or end up losing n have to go back to work

he go japan 8 times u say leh.

 

[Sanguoshitaisen]

I think sg still very rare.

in other countries especially western countries is more common

got ah. got 1 edmwer ah

 

[Hello_Kitty]

Got a few of my ex-school mates trade full time - mostly US markets

They now own several properties - you say good or not lor

it's a winner world. People only quote example of traders who strike rich. There are also a lot of traders fail miserably but they go unnoticed quietly. So, everyone only notice the winners

 

[N4E.SI]

he go japan 8 times u say leh.

I not full time trader, also go Japan 10 times+ aldy

 

[carey]

I say the BEST!
Finance is the best.
If I could turn back time I would go into finance as I had originally intended. Then I wouldn't even be in Canada. Be in SG enjoying life.

Finance industry is very broad

Front office (traders) only make up a very small percentage

In my first job, our treasury had like 100 traders but out of a total staff strength of 8,000, we make up just over 1%

But these days, prop trading is getting lesser and lesser in banks due to compliance and risk issues

 

[cyke69sg]

it's a winner world. People only quote example of traders who strike rich. There are also a lot of traders fail miserably but they go unnoticed quietly. So, everyone only notice the winners

No one cares about the losers.

 

[N4E.SI]

it's a winner world. People only quote example of traders who strike rich. There are also a lot of traders fail miserably but they go unnoticed quietly. So, everyone only notice the winners

Isn't it the same for every other industry or jobs

People only hear of the top property or insurance agent

The vast majority cannot make a living after 6 mths and quit

 

[Sanguoshitaisen]

I not full time trader, also go Japan 10 times+ aldy

in a year leh

 

[cyke69sg]

Finance industry is very broad

Front office (traders) only make up a very small percentage

In my first job, our treasury had like 100 traders but out of a total staff strength of 8,000, we make up just over 1%

But these days, prop trading is getting lesser and lesser in banks due to compliance and risk issues

It's not the work.
Is the training. The knowledge. The know how. The experience. You get paid to learn. Practice. Taught. Then you use the same and trade your own capital. Get rich.
Which other job literally teaches you skills to get rich and pays you to do it?

 

[carey]

it's a winner world. People only quote example of traders who strike rich. There are also a lot of traders fail miserably but they go unnoticed quietly. So, everyone only notice the winners

Yes, there is what we call "survivor bias"

Those who CMI already left the market literally

But that's very usual - just like buying Toto, the chances of striking 1st prize is very small, but everybody wants to try

 

[Song Bro]

Do you know of any full time trader?

meaning the person only do trading and don’t work? Or do trading with a lepak part time job?

how’s the person doing? Did he or she huat or end up losing n have to go back to work

My nephew works full time at the exchange as forex trader. He and his wife bought a 5rm flat at Tanjong Pagar and paid full in cash.

 

[highsulphur]

Always better to trade with other people's money

 

[carey]

It's not the work.
Is the training. The knowledge. The know how. The experience. You get paid to learn. Practice. Taught. Then you use the same and trade your own capital. Get rich.
Which other job literally teaches you skills to get rich and pays you to do it?

Only a small group gets the on-the-job training - the rest of the banking/finance staff doesn't know 2 bits about trading and how the financial markets work

Even equity analysts, my former work place has less than 10 folks

 

[carey]

Always better to trade with other people's money

Yes and no bah

If we make money, the profit goes directly to the clients or our bosses

Only the top traders get to negotiate their own terms and payouts

 

[Spike]

It is good to note that day trading essentially means that you need to make more correct decisions than wrong ones.

The more decisions you make, chances are that you will make many wrong ones too.

To make money, you will need at least 60% hit rate to factor in transaction and misc costs.

Without a regular income, or some savings set aside for living expenses, life can be stressful. Especially if you get emo, whack a big sum, and lost.

 

[cyke69sg]

Only a small group gets the on-the-job training - the rest of the banking/finance staff doesn't know 2 bits about trading and how the financial markets work

Even equity analysts, my former work place has less than 10 folks

That's why they are top earners. Like you.
Very small elite group.

 

[cyke69sg]

It is good to note that day trading essentially means that you need to make more correct decisions than wrong ones.

The more decisions you make, chances are that you will make many wrong ones too.

To make money, you will need at least 60% hit rate to factor in transaction and misc costs.

Without a regular income, or some savings set aside for living expenses, life can be stressful. Especially if you get emo, whack a big sum, and lost.

Reminds me of soccer manager. Win rate. Draw. Losses.

 

[standarture]

Even those "rich" traders don't even trade anymore. They faster pivot to books and training courses. Smart people know the importance of consistent high monthly salary. That's why the ones who truly enjoy life are the high earning CEOs, directors. All stay landed, have multiple kids, yacht, a few cars and enjoy holidays with their families.

Those fake "humble" rich are the ones hoarding a million in their bank account or assets and keep telling everyone they are a millionaire for some reason.

 

[DragonFire]

it's a winner world. People only quote example of traders who strike rich. There are also a lot of traders fail miserably but they go unnoticed quietly. So, everyone only notice the winners

Everyone fails some time or another.

Trading is educated gambling.

By right, if you are smart, and don't play with *ahem* money that isn't yours, you should eventually come out on top. "Smart" by the way is the escape word. There are many ways to define "Smart"

So we made $300k last night. A few years ago we lost nearly twice that when CS AT1 bonds were written off.
You can potentially win some and lose a hell lot too. Who'd have expected an institution like Credit Suisse to go under?

PS don't play with money that isn't yours if you don't have the discipline to hold back enough assets to tank the unexpected. It is one thing losing all you have. It is another losing someone else's money.

Good food for thought.
https://www.cbsnews.com/news/alex-kearns-robinhood-trader-suicide-wrongful-death-suit/