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How to switch career path to investment sector?

NickyNg...

I believe your basic view of the stock market, ie. treating it as a purley speculative medium,  will stand you in good stead in the market and life for a long, long time to come... Good view...


Wish you all the best in your  market punting/gaming...

 

wow...wow...how can this discussion continue w/o my participation? guess what? i am an engineer too ! :)  it did X my mind that to switch career path too ! but the fact that this job gives me a comfortable secured pay cheque beats all the odds of becoming a trader w/o a stable pay ...hee..anyway back to my SHORT stories! oh ya..DJ 90+  looks like there will be some actitivities today !! :P  sideline trading ok lah...fulltime? cant take the LOSS leh ! hee.... :D

 

Gosh... there's NO EDIT button to edit a post???

Here is the missing link:
http://www.jobsdb.com/SG/EN/Job.asp?R=JDBS089968050&59177

 

Hi chickenKing,
You may want to take a closer look at this position. It's not a trader/remisier but something got to do with financial (bloomberg feeding system, i believe).

Anyone has any experience? What's the entry level pay?

 

for fun on reading... from wipipedia

Robert Toru Kiyosaki (born April 8, 1947) is an investor, businessman, self-help author and motivational speaker. Kiyosaki is best known for his Rich Dad, Poor Dad series of motivational books and other material. He has written 18 books which combined have sold over 26 million copies ^[1]. Although beginning as a self-publisher, he was subsequently published by Warner Books, a division of Hachette Book Group USA, currently his new books appear under the Rich Dad Press imprint. Three of his books, Rich Dad Poor Dad, Rich Dad's CASHFLOW Quadrant, and Rich Dad's Guide to Investing, have been on the top 10 best-seller lists simultaneously on The Wall Street Journal, USA Today and the New York Times. The book Rich Kid Smart Kid was published in 2001, with the intent to help parents teach their children financial concepts. He has created three "Cashflow" board and software games for adults and children and has a series of "Rich Dad" audio cassettes and disks. He also publishes a monthly newsletter.

 

Who is Robert Kiyosaki? I oni know Robert De Niro...hahaha!

 

Singaporegal DaJieJie... :)

Yes, yes... I totally agree with that...

Ideas168... :)

I agree with what you said too...

By the way, do you agree with Robert Kiyosaki's philosophy? 

 

Hi Mani,

My point is that while it is possible to get rich in the stock market (Warren Buffet, Larry Williams, Daryl Guppy etc..), MOST people are not able to. It is better to keep this as a side interest until you have amassed cash and experience to do it full time.


 

 

All careers will have a place in the society. All jobs are important to the community. Be it an engineer, an architect or in banking or even janitor. To dream big is good where it gives you the Ohm to push yourself forward. The grass is always greener in another hill. Why not concentrate what you love and what you do best. Trading in Stock Market is not the only job that can get you rich. How would one define rich? Earning $3K a mth for a start as a young lad at 28 is not bad already. Why not grow your capability to increase your pay packet to $6K and trading the stock mkt during free time? It may take a while before reaching that level, but it do sure to make a mthly income. A remiser may take back $10K this mth but get nothing the next, or probably make a loss the following mth because he does not have salary. This year he may make $100K, but next year he might just make $40K, and probably $80K the following year. But to earn a constant $78K ($6K x 13) every year, you are actually better off than these remiser or dealers. THINK AGAIN! THINK HARD!...Engineer should be able to do simple calculation!

 

Those with engineering degree can maybe take up financial engineering or CFA. After that go join an investment bank but to make money being a remisier may not be so simple.

 

I know engineers to some extent are highly sought after though they don't have a finance degree. People with finance degree cannot be an engineer. Those with engineering degree can excel in finance. Some of the top bankers are engineers    

 

Singaporegal... my good DaJiejie... :)

Wow... that's a really good post which I like very much!...

Just to 'rub some salt in' (hehehe), the stock market is not a good place to get rich surely...
on the contrary, it may be the best place to lose your shirt.

Simply because it is a place of speculation...
And the earlier one realises this 'truth' the better off one will be. It is really a pity to see many people lose their retirement money in the stock market (where initially they thought they could make good money)...

But the stock market is really marvellous to treat as a gaming place where one enjoys the game, but not put one's significant money on the line...

 

Personality wise is important too.  Ask yourself the Why, What , How questions. Are you in for trial or long term......

All the best!

 

My opinion is that there is really nothing wrong with wanting a career change. I have a friend who also quit his job as an engineer and then became a broker. His life is more stressed but looks like he is happy because he is like his own boss.

But if you want to do a career change to get rich, I suggest you think about it a little more. The odds are stacked against you. 90% of people who play the stock market lose money. Having a CFA may help with the odds but it is still not a sure-win way to get rich in the stock market. Andrew is also right about the bull market cycle coming to an end in the future.

 

I have a friend who is retrenched last year, the MNC simply say bye bye one day.  With a big & nice package, he joined POEMS (I was told...pls check). So here is the scheme:

a) He don't get a salary. He go to POEMS and 'work' normal hours.

b) He need to pay a security deposit and he need to stay with them for 6 months. If he give up during this period. POEMS say thank you for the deposit

c) Company provide in-house training which may lead him to get a license to be a dealer/remisiers during this period or so. I heard junior dealer trade limit is 1M (some years ago)

d) He get to use POEMS top of the line trading platform and best of all no minimum trade cost.

e) During this period, all income is derive from trading of share.  Perhaps, he may get trading tips in-house (Maybe,I don't know).

Is this something you want to try ?

The superbull is 4 year old and year 2009 is expected (The bet is not off yet) to be a recession year or slowed year.

I suggest you think hard. Career change is like pushing the reset button or clear the boards. Oops are costly.

I heard this all from my friend.  He join last year June.

Andrew.

 

I am trained as an engineer but I work in the IT industry. I find that my education has trained me to be logical and practical in nature. Maybe that is why there is a general perception that engineers are "boring". Hahaha...

 

ya, just check chief of company, Creative, Powermatic, Frontline, MMI, , etc  are they engineers?

 

Errr... you can't say engineers have no big dream leh.... I have friends who were engineers and are now big bosses of companies. Conversely, I know many other people in the finance industry who are still salaried workers.

You can't generalise the profession. It is the individual who makes the difference.

 

Thanks Manikamaniko & singaporegal for your reply.

I wish to mix around with professional trader rather than mixing with engineers who usually have no big dreams.(sorry if i offended any engineers)

So I was thinking to start at the entry level. I am particularly interested in FX. I tried to look at some job postings for FX analyst, the job descriptions & requirements look 'alien' to me. Now, I am deciding whether to go for a CFA, but that may takes years to complete. Any suggestion.

 I will go look for the book, "How I trade for a living".

A thousand THANKS.

 

 

Anyone contemplating a 'career' in full- time trading

must first read Gary Smith's book, "How I Trade For a Living".

This is one trader who has been in the trenches in the frontlines of the combat zone.

Forget other books on 'full-time trading'.... This is the book!..

 

Alamak.... who gave this guy a bad post rating? It is a legitimate question.

 

Hi chikenking, can you clarify your career objective? Do you want to be a remisier, financial advisor or just want to quit full time to trade stocks?