Depth Trade
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No, I'm the man who is up multiple percentage points every week and have thousands of live trades with a thread that has 50k views and not one complaint.
You are nobody.
British Army Doctor to stock broker
- Thread starter TraumaDoctor
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You are nobody.
dick_dastardly
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TraumaDoctor
Sorry, haven't read the whole thread so apologies if you've already answered this Q.
I'm curious,
you're in a profession that is secure, has good prospects if you continue to work at it, has good earning potential, will always be in demand, can be very rewarding from a job satisfaction perspective, is well respected.
Why the urge to become a broker? What's wrong with what you're doing now?
Not giving you advice or anything, just curious.
dd
[edit] and I bet it's a really good pull too
Sorry, haven't read the whole thread so apologies if you've already answered this Q.
I'm curious,
you're in a profession that is secure, has good prospects if you continue to work at it, has good earning potential, will always be in demand, can be very rewarding from a job satisfaction perspective, is well respected.
Why the urge to become a broker? What's wrong with what you're doing now?
Not giving you advice or anything, just curious.
dd
[edit] and I bet it's a really good pull too
amit1986
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I think in your case it would be best if you continue working as a doctor and start trading your own money part-time. As you gain experience and improve your profitability, you can slow down your job as a doctor, eventually going to full-time trading on your own account.
If sitting at your home office all day, staring at screens isn't your thing, then you could apply to prop trading firms or investment banks. I think that I read somewhere that if you are able to make 30% per year consistently, hedge funds / investment banks / prop firms / etc will bring you on board. Note, however, 30% per year does not apply to intraday trading.
60,000 pounds per year may be a bit unrealistic for a first-year salary. In my opinion, as a junior analyst, you'd be fortunate to making around 40,000 pounds. And to go to from a respectable field such as medicine to a junior analyst won't be an easy transition for you.
Thus, I recommend you start trading your own money for a while. Start with small position sizes and see if you enjoy it. Once your profitability improves and you start enjoying the game, you can make the transition from your current job to trading. If you're able to make good consistent returns, then don't worry too much about getting a job - good traders will always be in demand!
glyder
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Trauma Doctor,
In terms of exams they are generally funded by employers after being hired. Very few people do the exams off their own back. They are not that tought though. Take a look at 7 city website or BPP to get the sylabus. You will need to pass the securities paper and regulatory paper. They can be done in a week.
The thing is its not the exams alone that matter to the employer but that you have been FSA registered too. Which is why taking the exams off your own back may not help much.
I don't really know why would you want to take a sales/commission based role after what you have been doing but then I have met a few ex services working in the city. Usually in private client retail stockbroking, the high net worth side, (not fast turnover retail) which is really in the end all about building up your wealthy contacts directly and through IFAs.
It don't pay so well as the wholesale stuff, but you can very easily exceed £60K in time. Sorry though can't help with what starter salaries might be. If you get into the wholesale side you may start on nearer £60K, or reach it much sooner.
In terms of exams they are generally funded by employers after being hired. Very few people do the exams off their own back. They are not that tought though. Take a look at 7 city website or BPP to get the sylabus. You will need to pass the securities paper and regulatory paper. They can be done in a week.
The thing is its not the exams alone that matter to the employer but that you have been FSA registered too. Which is why taking the exams off your own back may not help much.
I don't really know why would you want to take a sales/commission based role after what you have been doing but then I have met a few ex services working in the city. Usually in private client retail stockbroking, the high net worth side, (not fast turnover retail) which is really in the end all about building up your wealthy contacts directly and through IFAs.
It don't pay so well as the wholesale stuff, but you can very easily exceed £60K in time. Sorry though can't help with what starter salaries might be. If you get into the wholesale side you may start on nearer £60K, or reach it much sooner.
TraumaDoctor
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In the break between operations, I've only got time for a quick reply...
Many thanks for those who have contributed to the thread so far, any info / advice you can give is greatly appreciated.
I'll check this forum again this evening.
Regards.
Many thanks for those who have contributed to the thread so far, any info / advice you can give is greatly appreciated.
I'll check this forum again this evening.
Regards.
i know a number of ex-officers that work up here but it's mainly in things like investor relations. they're all "good bloke" types and it's not an unusual move. similar goes to a number of ex-rugby guys that work in the industry.
60k straight off the bat might be a bit punchy given the lack of experience but as you say you have core skills that businesses generally go for. not too many jobs about at the moment to be honest.
60k straight off the bat might be a bit punchy given the lack of experience but as you say you have core skills that businesses generally go for. not too many jobs about at the moment to be honest.
L
Liquid validity
TraumaDoctor, have a read of this interview:
http://www.trade2win.com/section/articles/764-interview-stock-trader-richard-joyson-mr-charts/p/1
http://www.trade2win.com/boards/us-stocks/38036-how-make-money-trading-markets.html
Even if you do decide to follow the trading route and essentially start from scratch, I would also consider the possibilities of:
1/ Opening your own private practise - Harley street etc.
2/ Medical consultant to pharmaceuticals company.
3/ Any other application of your current experience and skills in a medical area not mentioned.
Whatever you do one of the above may give you the time and location to pursue trading part time as Mr charts did in the interview above.
Best of luck whatever you decide.
http://www.trade2win.com/section/articles/764-interview-stock-trader-richard-joyson-mr-charts/p/1
http://www.trade2win.com/boards/us-stocks/38036-how-make-money-trading-markets.html
Even if you do decide to follow the trading route and essentially start from scratch, I would also consider the possibilities of:
1/ Opening your own private practise - Harley street etc.
2/ Medical consultant to pharmaceuticals company.
3/ Any other application of your current experience and skills in a medical area not mentioned.
Whatever you do one of the above may give you the time and location to pursue trading part time as Mr charts did in the interview above.
Best of luck whatever you decide.
Hilarymannah
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Why the fk would anyone with any intelligence want to work for someone else for a paltry 60K,...absolutely fricking mind boggling!!!!
(BTW: The question's rhetorical)
(BTW: The question's rhetorical)
I might get shot down for this but if you haven't really got the first idea how the whole business works; want to get a 1000 mile high overview of the whole messy business and you desperately want a qualification why don't you do a CFA ticket? Its not cheap, cheap but I am pretty sure it won't break the bank of even the most humble army saw bones. Plus its a 'real ticket'(if you really feel the need for such a thing
).However, as others here have suggested you may be better off sticking with what you know to start with take on some private work in whatever your chosen specialism may be. It takes a while to build your rep if you are coming straight in from the services but if you fit the picture and make the right contacts you will find it quite profitable. Profitable enough to fund your partner's addiction for shoes and your own trading habit
.Additionally, as others have said slowly dipping your toe in the pond through small positions set up via one of the online brokerages. Beer money punts are as good as any to start with. Get to know the system, learn how it works, do your own research, take any advice you get from anyone with a pinch of salt and never play with anything you can't afford to **** away.
Just my two cents.
TraumaDoctor
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Thank-you for the recent response.
Gordon Gekko
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why not become a GP and earn a steady, risk-free £250,000 a year dishing out antibiotics
