What did it cost you to make it? What did you risk? Looking for some inspiration

[switch7]

Ok, for the last 5 years I've been studying trading forex, commodities, indexes etc as a hobby/potential career move. I've come a long way with it and have had success and failures. Held consistency over 100's of trades with sensible money risk management and tripled an account only to lose my discipline and mindset and end up blowing accounts. Luckily none of these accounts were that big. I've got to the point now where I have to make a decision whether to go for this or not. I'm 31 and I have to start moving with my life.

My family are dead against this idea (just my parents, I don't have any kids or wife etc) and always say I will never make it. But I feel like I have to atleast try otherwise I've wasted 5 years of studying charts for multiple hours everyday. I don't have the capital to fund and live off my own account so I need to work for someone.

The guy who mentored me is currently managing a small hedge fund and he wants me to go work for him as an analyst but, if I don't perform well then I won't be paid. So it will be 100% commission based and no basic salary.

So between the hours of 6am to 4pm GMT I would have to analyse the markets and make trade calls for potentially no pay. This means I would need another source of income as a cushion a for my living costs. The only work I can get in the evenings is bar work which will be minimum pay and I would have to work full time to pay for my living costs. So I would effectively be working 2 full time jobs more or less. Also I would have to move to London where living cost are high and I probably wouldn't have much money left over at the end of every month once i'd paid my rent bills and food etc. I'd be living on a shoe string budget.

Its a gamble, the question is do I go for it? I'm a bit worried that working effectively from 6am to 12 midnight everyday might break me mentally and physically.

The question is what did you have to do to make it? How hard did you work? Can anyone offer me any inspiration, what's your success story?

Appreciate any advice.

 

[backbreaker]

my college years pretty much. no dates / sex for 3 years. a social life. my relationship with my mom and my dad. and my brothers as well now that i think about it.

 

[switch7]

my college years pretty much. no dates / sex for 3 years. a social life. my relationship with my mom and my dad. and my brothers as well now that i think about it.

Thanks for your story backbreaker.

Anyone else? Come on guys I need some inspiration/kick up the arse/ manning up dialogue.

 

[Tenacity]

Switch,

Working as an upstart (new/rookie) Analyst is exactly how it was described, you are going to pull VERY long hours until you can work up to the Sr. Analyst level. It's good that you actually have a connection within the industry as those jobs are usually highly sought after but very DIFFICULT to get into.

So a couple of recommendations:

- Number one, please do not bother yourself with what your "parents" think. You are a grown man at this point and you honestly shouldn't even be discussing your career moves with your parents as it's nobody's business but your own and your WIFE should you decide to marry.

- Get ready to be a work slave for the next 2 years. This is actually what you should have been doing years ago, and maybe you would already be at the Sr. Analyst or Portfolio Manager level by now. You will work all day within your career field and do something on the side for additional income. Try to find a roommate to stay with so you keep your housing costs down.

- There's nothing wrong with working on all commission because you are doing a PERFORMANCE BASED job anyway. Any performance based job is based on your performance, so having a base salary doesn't really mean anything because if you don't perform you will be kicked out and potentially not even paid the "base salary" amount if you perform very poorly.

- As you mentioned, you have been working at this for years so it seems as though this is where your passion is. You strike GOLD in life when you are passionate about something that has the opportunity to produce a lot of income. So you will go to "work" everyday but it will not feel like "work" at all, it will feel like a day at the ball park because you are doing what you LOVE.

- You have a grand opportunity with the network that you have established, I would TAKE this opportunity hands down. If you don't make it, at least you did it and can put that on your resume as some form of valuable experience.

 

[OlympicTim]

I'm only 19 so I haven't made it yet but I would say screw it with the bartending job. Make it so you don't have another source of income. It might be scary but it will motivate you to make sure you make it and if it doesnt work out then it wasn't meant to be

 

[switch7]

Switch,

Working as an upstart (new/rookie) Analyst is exactly how it was described, you are going to pull VERY long hours until you can work up to the Sr. Analyst level. It's good that you actually have a connection within the industry as those jobs are usually highly sought after but very DIFFICULT to get into.

So a couple of recommendations:

- Number one, please do not bother yourself with what your "parents" think. You are a grown man at this point and you honestly shouldn't even be discussing your career moves with your parents as it's nobody's business but your own and your WIFE should you decide to marry.

- Get ready to be a work slave for the next 2 years. This is actually what you should have been doing years ago, and maybe you would already be at the Sr. Analyst or Portfolio Manager level by now. You will work all day within your career field and do something on the side for additional income. Try to find a roommate to stay with so you keep your housing costs down.

- There's nothing wrong with working on all commission because you are doing a PERFORMANCE BASED job anyway. Any performance based job is based on your performance, so having a base salary doesn't really mean anything because if you don't perform you will be kicked out and potentially not even paid the "base salary" amount if you perform very poorly.

- As you mentioned, you have been working at this for years so it seems as though this is where your passion is. You strike GOLD in life when you are passionate about something that has the opportunity to produce a lot of income. So you will go to "work" everyday but it will not feel like "work" at all, it will feel like a day at the ball park because you are doing what you LOVE.

- You have a grand opportunity with the network that you have established, I would TAKE this opportunity hands down. If you don't make it, at least you did it and can put that on your resume as some form of valuable experience.

Thanks Tenacity that's what I needed. Found myself a room mate and currently putting the plan in to action. :rockon: Like you say if it doesn't work out at least I took action and tried.