Day Trading

[Ajay]

I'm just curious to know how many people on here day trade as a full time job?

[snoop101]

im going to very soon. In the near future. Sometime next month or so.LOL.

Ya I like to know too. I know some on here work or have worked for swifttrade and curious to what they have to say. I know a lot who do work there just work there for three months then go on there own.

[Rat Fink]

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[teg_boya]

ya its a good job from what i hear from my bro... it took him like 6-7 months to be fully on his own without needing anymore training but now that that is out of the way he is making some good money. I tihnk his commision is set at 35% until he reaches a certain level in sales then it jumps to 40% then eventually maxes out at 50%. it is a good opporunity unless you are no good under pressure and cant make money, then your screwed!! :thumbsup:

[PINOY-X]

eat it

[Kritafo]

Originally posted by Rat Fink
I'm full-time trading as of May 1st, 2008.

The work hours are great....
The work environment feels like I am right at home...
I get along great with my boss too! haha

I set my business up as a sole proprietorship, but if my income starts getting really up there I'm going to have to form a corporation. I'm also going to be taking the Canadian Securities Course soon along with all the other courses to become licensed.

Lucky you. You can have your own IPO!:nut:

[Paul]

Originally posted by Rat Fink
I'm full-time trading as of May 1st, 2008.
I'm also going to be taking the Canadian Securities Course soon along with all the other courses to become licensed.

Don't bother doing the courses to become licenced. Do the couses becasue you plan on wanting to learn something. If you don't get hired on by an IDA firm in 3 yrs of completing the courses you have to take them all over again. I can think of a couple better ways to waste a couple of grand.

To the OP, don't day trade. You're better off trying your luck at the casino.

[Rat Fink]

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[rc2002]

Originally posted by Paul


don't day trade. You're better off trying your luck at the casino.

QFT. If it really was that easy, nobody would need to work anymore. Unfortunately it's a zero sum game.

[Paul]

Originally posted by Rat Fink
Paul,

the part of being licensed is just a fringe benefit for me. I'm looking to learn more as I'm not familiar with anything outside of penny stocks and short term trading. It's a business writeoff as well.


I'm assuming that you're referencing being licenced through the IDA, so I'll say this: "just becasue you have your CSC and CPHC doesn't meen you'll be licenced" - you have to be hired on by an approved IDA firm (you can see their website for a list of these firms, and they have to submit you to be licenced.

I wouldn't waste your time, or money, in your situation doing the CSC - it's really just a termonology course at best.

If day trading is your thing, which it seems - nothing wrong with that (but I do completely disagree with it) - then you'd be better off with doing those "How To Day Trade" seminar's at the hotel's on the weekends. The CSC won't teach you anything you don't already know.

Let me know if I can help, 5 yrs industry experience - 8 in finance.

Cheers,

P.

[dezmarez]

Paul....what do you do?

[HyperZell]

Originally posted by dezmarez
Paul....what do you do?

He day trades, and doesn't want competition lol.

[Paul]

I work for a bank owned brokerage, as well as the private banking side, here in Calgary. I worked on the retail bank side of the business for 2 years prior to moving across to the investment side. I have family and friends who have been in the business far longer than I, so any questions you want to throw my way - I can reference their advice too.

P.

[Rat Fink]

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