Fatal Exception 0E
Joined February 2024
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True but ****IF you get in and IF you have talent. Those seats are not filled with average joes lol
I disagree! There are plenty of firms that will teach you to trade. If we’re going to stick to grey box trading, you have
- Jane Street
- SIG
- Optiver
- IMC
- Flow Traders
- DRW
- Five Rings
- CTC
- Maven
- Da Vinci
- Wolverine
- Old Mission
- Akuna
- Belvedere
I’ve deliberately listed a mix of tier 1/tier 2 firms, so it’s not limited to elite places that only hire from MIT. There are probably 700-800 grad places per year between the firms above.
Then every major investment bank has a grad trading program. They are less prestigious but also easier to get into and there are opportunities to jump into the big prop firms after a year or two if you’re good. Probably another 500-1000 places here.
The pay ranges from $200-750k/year for grads. It’s a lot of money so obviously they aren’t going to silo you into low value data monkey work. They need to upskill you quickly so you can start making money for them!
If we’re expand from grey box trading firms to HFT/quant/systematic — where you won’t learn “trading” per se but you’ll learn how to analyse a signal, build an alpha model, build a risk model, build a portfolio optimiser, run execution algorithms etc — then there are probably another 1000-2000 seats at places like HRT, Headlands, CitSec, DE Shaw, Quadrature, Two Sigma, PDT, or central quant teams at big multistrats like Citadel, Point72 etc.
Investment banks also make grad quant hires for similar roles (again slightly less prestigious, slightly less pay, easier to get into and opportunities for moving to buy side if you’re good).
If this post chapped your ass imagine you work you way up to a top tier firm and hearing “trading is better served as a hobby for you”.
Watched that conversation take place more times than I care to count lol
My biggest regret in life was making a career out of trading and that’s with succeeding at it….
the grind, the stress, the missing out on family and friends, the health problems, the lack of sleep, the firms with people I don’t like, the rules, the scams, the sketchy shit, the ledge of gambling that you are always tiptoeing, the massive failure and then trying to cope with the massive success that is sometimes 100x worse, etc…
No exaggeration a hellscape
The thought of doing all that and still failing which is what happens to almost every person who tries at home….. like you do all this shit and still don’t make life changing money? idk man. I’d give all the money away to go back. Not worth it.
You aren’t beating these people sitting at home, give up. It’s not worth it even if you do. You aren’t getting into a firm either, give up. Again, even if you do make money (you absolutely won’t), it’s not worth it. You’re going to hate your life anyway. Run.
“Time on your hands” this is funny lol
Spend 10+ hours working everyday for the better part of 10 years then think you can magically turn it off once you retire.
Have to be a workaholic to succeed then once you do, you think you can just go back to normal? lol that’s rich
100000000000000000%
On a more serious note, there are very few firms that will genuinely teach you how to trade. Any firm that this guy is potentially alluding to is going to silo you in some pod and then cuck you over and assign massive amounts of coding and minutia work and you won’t be touching anything that you wanna touch if you’re doing any meaningful work that you will be wanting to do. All of the old firms that did teach people how to trade are gone or too inaccessible. firms that have an edge and are even willing to teach you that outside of going balls long some sector because that’s what they’ve done for the last five decades can be counted on fingers and toes.
My biggest regret in life was making a career out of trading and that’s with succeeding at it….
the grind, the stress, the missing out on family and friends, the health problems, the lack of sleep, the firms with people I don’t like, the rules, the scams, the sketchy shit, the ledge of gambling that you are always tiptoeing, the massive failure and then trying to cope with the massive success that is sometimes 100x worse, etc…
No exaggeration a hellscape
The thought of doing all that and still failing which is what happens to almost every person who tries at home….. like you do all this shit and still don’t make life changing money? idk man. I’d give all the money away to go back. Not worth it.
You aren’t beating these people sitting at home, give up. It’s not worth it even if you do. You aren’t getting into a firm either, give up. Again, even if you do make money (you absolutely won’t), it’s not worth it. You’re going to hate your life anyway. Run.
I turned 24 today and I spent it where I spend every day now: in front of a screen, chasing an edge.
Part of me feels guilty. I should have been out with friends, raising a glass, letting the night carry me somewhere. But the workaholic in me had other plans.
I've become obsessed with being a little better than yesterday. These days it's all I do. And I can feel it working. I'm sharper, faster, closer. But I can also feel something slipping away, something that matters more than any measure of productivity. I want to take a break but I really don't know how to
Bear retweeted
“Who’s that guy the killed himself after watching Shedeur Sanders play football ?”
My son in 2041:
Bear retweeted
You’ve literally lived during the most peaceful, prosperous, technologically advanced, self serving period of human existence and all you’ve done is whine about it.
Remember how I always said that the consumer is responsible for high prices?
Amazing things happen when you just stop buying things - the prices magically stop come down.
Quit blaming boomers retards and spend 5 minutes understanding supply and demand lol
All my money is going to charity because I refuse to give it to useless trash like this. Want money? Go make some you fucking losers.
Bear retweeted
Remember that Jim Simons was in his 50s when he started the Medallion Fund.
So if you haven’t “made it” in trading yet, don’t worry.
As long as you’ve made fundamental, groundbreaking contributions to pure math and theoretical physics in your 30s and 40s, there’s still a chance for you!
Soros Fund Management launched when George Soros was 43. Julian Robertson didn’t start Tiger until he was 48. Jim Simons was 50 when he started the Medallion fund. By pretty much any measure, these three belong in the top 5 or 10 best hedge fund managers ever. Things to keep in mind if you haven’t hit your stride by ~30.
It’s unfortunate that this needs to be explained but the consumer controls the pricing of everything.
Final day and we lose -$625. After commissions and getting the exact p/l total for each day for the week we ended up making $1025.
Is it a lot? No. Did I trade well? No? However, for using no strategy in an afterhours session which is low liquidity slop in a terrible market I think I proved my point.
Putting up p/l is a skill and the only skill you need to work on. How you get there makes no difference. Practice putting up p/l.
Strict rules, strategies, setups, and risk management in your trading are most likely making you worse.
When you are bound to hard rules in something as dynamic as markets you are screwed the majority of the time lol
I’m not saying have 0 rules but aside from a couple generic risk rules, you should have complete freedom. The better I got the more I winged it the better I got.
Talent > everything else
It has nothing to do with risk management. It’s just skill and talent. He has no skill or talent when it comes to this game.
Again. Everyone just simply can’t “learn” how to trade. Talent discriminates.
