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Zach

Looking for Some Advice. Knowledgable

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I am knowledgeable in the area of finance, but I am still in college and not sure what to pursue. I have taken intro accounting, managerial finance, trade finance, intro finance and banking, investing and intro CIS courses at my city college. My latest semester, which ended a week ago, I took 5 of those classes in the same semester while I followed the equity and forex markets. My finance and banking teacher told me you will not learn more than you would in this class if you were to take it at Harvard, and I believe it. A lot of people had difficulty taking the class and the text covered a lot. Long story short all I have to look forward to is non finance classes at city college, I just need some advice on what should I do, should I focus on college and the markets (not going to take 5 classes again) or get a job so I can make moves in the markets.:missy:

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  Zach said:
I am knowledgeable in the area of finance, but I am still in college and not sure what to pursue. I have taken intro accounting, managerial finance, trade finance, intro finance and banking, investing and intro CIS courses at my city college. My latest semester, which ended a week ago, I took 5 of those classes in the same semester while I followed the equity and forex markets. My finance and banking teacher told me you will not learn more than you would in this class if you were to take it at Harvard, and I believe it. A lot of people had difficulty taking the class and the text covered a lot. Long story short all I have to look forward to is non finance classes at city college, I just need some advice on what should I do, should I focus on college and the markets (not going to take 5 classes again) or get a job so I can make moves in the markets.:missy:

 

Hi Zach,

 

It's always good to finish college. What is your long term goal? What type of jobs would you like to see yourself doing in 10-15 years? How old are you right now?

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  Zach said:
I am knowledgeable in the area of finance, but I am still in college and not sure what to pursue. I have taken intro accounting, managerial finance, trade finance, intro finance and banking, investing and intro CIS courses at my city college. My latest semester, which ended a week ago, I took 5 of those classes in the same semester while I followed the equity and forex markets. My finance and banking teacher told me you will not learn more than you would in this class if you were to take it at Harvard, and I believe it. A lot of people had difficulty taking the class and the text covered a lot. Long story short all I have to look forward to is non finance classes at city college, I just need some advice on what should I do, should I focus on college and the markets (not going to take 5 classes again) or get a job so I can make moves in the markets.:missy:

 

Hello Zack... Put all of your focus into your studies. You are going to need the non-finance stuff too... the better your transcript prints, the better your chances to find employment. In reading between the lines, you sound like a young man (early 20's)... the only "moves" you are going to make in the markets are the wrong ones. If you have an interest in trading (or investing), be patient... you have plenty of time. Watch the markets for now... you'll learn more by simply observing than trying to trade.

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Generalized advice - finish school.

 

Let the markets be a 'separate' part of your life. Devote some time to them each day or week... like you do 'playing' or 'chasing women' or whatever...

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  zdo said:
Generalized advice - finish school.

 

Let the markets be a 'separate' part of your life. Devote some time to them each day or week... like you do 'playing' or 'chasing women' or whatever...

 

Having an education, from my experience, helps down the road. You never know what happens in the 'markets'!

 

And you can have a good job while playing in the markets

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  Zach said:
I am knowledgeable in the area of finance, but I am still in college and not sure what to pursue. I have taken intro accounting, managerial finance, trade finance, intro finance and banking, investing and intro CIS courses at my city college. My latest semester, which ended a week ago, I took 5 of those classes in the same semester while I followed the equity and forex markets. My finance and banking teacher told me you will not learn more than you would in this class if you were to take it at Harvard, and I believe it. A lot of people had difficulty taking the class and the text covered a lot. Long story short all I have to look forward to is non finance classes at city college, I just need some advice on what should I do, should I focus on college and the markets (not going to take 5 classes again) or get a job so I can make moves in the markets.:missy:

 

if you want to stay in your parent's basement for the next 20 yrs, try trading.

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Thanks for all of the comments. My long term goal is probably not to be doing this, maybe have my own HFT, I know its not hard I'm not talking about crazy algos or anything, but having enough money to just chill. The reason why I don't want to continue with school because I know I can skip it if I read the right material instead of all of this hoop jumping. Only thing I can see paying off is furthering my math. I took an investing course thinking they would teach some technical analysis (it was even in the syllabus) and my teacher said charting was insanity and skipped it.:doh:

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Well I am going to tell you how it is. You said "city college.' Really doubtful that you will get a good job with a city college education in Finance. You can get a job but your chances decrease exponentially of a good job at a city college. And that goes for accounting, M.I.S., or any other business discipline. There is the chance that you can learn a unique skill but with all the stuff you mentioned chances are that is not your focus. Best of luck to you.

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A university BS or Masters degree can be of little value in this economy, some degrees are better than others but it comes down to experience, the more the better, so if you can, start working in something right away because your future depends on it.

 

A degree in accounting is not a bad option, better than one in finance, information systems or economics and you can always freelance once you are a CPA.

 

What you want is something that you can do for a while to live and fund a trading account for e-mini futures, which to me is better than trading Forex or anything out there. You want more than a minimum account size, preferably in the 7-10K range or more, with a small account you cannot keep an overnight position, with a larger account -one able to maintain the overnight margin- you could ride a futures contract for days or weeks and make a larger profit (in theory), assuming you made the right call. You also need to have enough in the account to buffer your losses.

Also, since you will be working, day trading is most probably not possible so swing trading with preset stop loss and target would be the only option.

You could trade options but I still think e-mini futures are better, I'm sure some people will disagree.

 

A solid trading plan, discipline, enough funds and perseverance will help you succeed in trading, it won't happen quickly or easily, that should be your long term goal.

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  Zach said:
Thanks for all of the comments. My long term goal is probably not to be doing this, maybe have my own HFT, I know its not hard I'm not talking about crazy algos or anything, but having enough money to just chill. The reason why I don't want to continue with school because I know I can skip it if I read the right material instead of all of this hoop jumping. Only thing I can see paying off is furthering my math. I took an investing course thinking they would teach some technical analysis (it was even in the syllabus) and my teacher said charting was insanity and skipped it.:doh:

 

Hoop Jumping = filtering out people who just want to chill.

 

Plan on busting your backside for the next 10-20 years. Lots of hours. Sprinkle in some fun. Find a lowly starter job in the field you want to be in. That includes menial degrading work. Work hard. Rinse/Repeat. After awhile, all of those mad skills you acquired while in school will start paying off. Or - more than likely, it will be your work ethic that will get you promoted. Get promotions. Get more money. Acquire more mad skills. Rinse/repeat. Suddenly you have arrived.

 

Then you can open up your HFT shop. With your money. Because chances are no one else is going to give it to you until you prove your success.

 

Good luck. Only took me 23 years since college to get to where I am today. (Havent yet gotten to chill.But soon.)

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  MCM said:
Hoop Jumping = filtering out people who just want to chill.

 

Good luck. Only took me 23 years since college to get to where I am today. (Havent yet gotten to chill.But soon.)

 

 

Where are you now? :) What do you do?

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Thanks for the responses. I came to the conclusion I am going to take school lightly and focusing on working and trading. The reason why is because ultimately I am going to be working for myself so what grades or degrees I have won't matter. The other reason is because I am not sure what I should be pursuing in finance, ultimately I want to invest and trade financial instruments and I am not sure just getting a degree in finance will help me do that. The reason why I am at city college is because I need to jump that hoop to get to a 4 year university.

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