Life’s better at the top, isn’t it?

A fat cat trading account, huge bonus at the end of the year, and money to burn on the “trader lifestyle.”

Or is it all it’s cut up to be?

Could it be that many traders don’t know what they want?

Is it better to trade for the currency desk at the Bank of America with a coffee in hand?

Or in your underwear sipping on a green smoothie?

Is the millenial generation a bunch of Gordon Gekkos? And why do trading “virgins” have the decided advantage in the markets?

All this and more in this episode…

http://media.blubrry.com/2traders/content.blubrry.com/2traders/2Traders_-_EP26_Getting_A_Real_Trading_Job.mp3

Download (Duration: 23:55 / 27.3 MB)

In this episode:

00:58 – working at a bank?

03:31 – most of their salary is in the bonus

05:38 – fail safe tools

06:41 – how many of these traders enjoy that job?

08:08 – sociopaths

11:00 – the whole truth

13:21 – working at UBS?

15:21 – limitations by the institution

17:03 – making money

22:06 – something positive

Tweetables:

Focus on what you want to achieve from trading. [Click To Tweet].

The best traders are literally “sociopaths.” [Click To Tweet].

Learn the specifics & you’ll achieve consistent trading success. [Click To Tweet].

Download The Full Episode 26 Transcript Here

Walter: The limitations that are placed on you as an institutional trader are going to be very very different to limitations that you place on yourself as a retail trader, knowing what’s possible, talking to other traders and sharing information over the internet.

Announcer: Two traders; Darren and Walter, pull back the curtain on profitable trading systems, consistent money management, and profitable psychological triggers. Welcome to the Two Traders Podcast.

Walter: Welcome back to the Two Traders Podcast. I’ve got Darren on the line here and Darren, today we’re going to talk about this idea where some traders have the goal of eventually working at a bank. So the currency desk at a bank or a private fund or something like this.

I guess, what I’m wondering is what are some of your thoughts on having this as a goal? Why is it that some traders want to do this? To me, it seems a little bit weird, but I’d like to get your thoughts on it.

Darren: It’s not something that I’ve come across greatly with the traders that I’ve spoken to or worked with. I suppose the appeal of it is a large salary and really there’s no risk. I suppose to some extent it may appear like it’s taken some of the uncertainty away from you because they’re going to give you salary and bonuses and it probably feels like a shortcut to achieving your goals.  

From what I gather, it’s not particularly a good lifestyle.