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How to switch career path to investment sector?
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CWQuah
Master |
10-Sep-2007 20:44
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Spurs88, I think you're the idol of a lot of people now especially engineer-to-trader converts... hehehe! I cannot agree with you more on the foreign competition... and to be frank, engineering is a highly IQ-intensive and labour-intensive career to be in. Doesn't help that in the real world, engineers can be pretty low down in the political food chain of the corporate world. |
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patiepie
Member |
10-Sep-2007 17:48
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Hello Spur88, I saw that you keep mentioning enough capital. From your experience, how much is sufficient to start day trading? What tools should we have to start it ? What website/source do we need to have to have an advantage in trading ? Thank you. Patiepie |
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spurs88
Senior |
10-Sep-2007 16:56
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As I said, you must have the capital. I plough my savings and redeemed unit trust money into stocks and learnt that I actually have the knack of picking the correct stock. |
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nickyng
Supreme |
10-Sep-2007 15:42
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wow..these statement by Pension seems to very identical to my curr situation siah ! :P ..u really got "INK"=YouMoiShui siah :P...pardon my HanYuPingYu...failed my chinese that's y :P "....it good to be day and night trader and earn much more than 9 to 5 work. spend more time to do research in share. if you work in mnc or sme, try not to compete with other, let them climb the corporate ladder. the more you compete the more enemy you create. let your peer climb the corporate laddder, the higher they climb the more job they take. you just sit silently behind your desk and play some share and contribute to SJ forum, I think you can earn much more than your superior. " |
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DnApeh
Master |
10-Sep-2007 15:32
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Thanks, spurs88. What was it that made you start making a few thousands a week? Sorry, I very lor-soh. |
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spurs88
Senior |
10-Sep-2007 14:19
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I started trading sometimes after I graduated but at that time it was more of IPOs. I did not have much time to monitor as I was piled with works most of the time. I was also trading conservatively, happy with a few hundred dollars profit. It was only about last year that I started to make a few thousands a week that I decided to be my own boss and become a day trader. The catalyst is that I AM SMARTER THAN MY BOSS, SO WHY SHOULD I SLOG FOR HIM FOR HIM TO GAIN THE CREDIT. As I said, there is no secret. Timing must be right, researches must be done and you must have the gut feeling that certain stock is going to be played. Don't be greedy. Once it hits your target, let go. Don't be sentimental, once you know circumstances have changed, cut loss.Don't panic-sell those fundamentally sound stocks during a market meltdown, but buy more. |
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DnApeh
Master |
10-Sep-2007 13:44
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Hi, spurs88. Very happy for you to be doing this successfully. (this past 1 year make more than last 20yrs) Can I please ask you since what age did you start to trade? Also, what is the catalyst that make you decide to turn pro? There must be some trading technique change that happened recently and is consistently turning up winners that make you take the drastic plunge up becoming "legally un-employed"? Ha,ha! I hope to join you next time, but in the meanwhile, I still got a lot of things to learn (and tuition fees to pay, Ha, Ha!) |
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spurs88
Senior |
10-Sep-2007 12:34
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Engineers in S'pore has no prospect. Don't listen to what the govt. says. The market is very spoilt by foreigners already. Heard from my friend who is doing head-hunting that the starting pay of a fresh accountancy grad can be as high as $4K, though they only spent 3 years in the U. For Eng grad, the starting pay has not moved over the years. When I started about 20 years back, it was about $2K. Now I heard it is about $2.5K. No wonder S'porean are shunning the Eng course in the U. Yes, I am in my 40s. If I had remained an engineer, I would still have been slogging, earning money for my company but with little rewards, but only blame when things go wrong. If I had remained as a teacher, my students will give me hell and all my boss knew was to make me a scapegoat when key performance indicators were not met. |
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Manikamaniko.
Master |
10-Sep-2007 12:00
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Not only engineers are unhappy with their jobs/careers...
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left_bug
Senior |
10-Sep-2007 11:28
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Gees, quite a few engineers are unhappy with their career. Engineers in Singapore are not well-respected profession. I was once a maintenance engineer. I think the worst engineer of them all. I earn so little compare to my peers in other engineering. I think R&D earn a lot more. Working as an employee I really have no control of my own future. Your future is at the expense of your boss. When economy is bad, no matter how hard you work, they still need to lay you off or cut your pay. After years of training in Physics and Math, I still could not grasp some of the concepts so I switch career path. Now I am work in a trading house as a salesman. My company just earn commission and paying me more than my previous jobs. I treat trading stock as a way to grow my wealth. Day trading is not for average Joe like me. If I was able to get into R&D line and become good Engineer, I don't think I would switch my career path. |
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Fairygal
Veteran |
10-Sep-2007 11:27
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Spurs88, just wondering if you do get stressed during times like this, ie volatile market? |
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beastmaster
Member |
10-Sep-2007 10:58
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hey spurs, realli impressed by wat u ve accomplished in such a short period of time. so does that mean tt you are in your forties and happily retired? i was also harboring the same intention as chickenking as to whether to do a switch in career from engineering... but after seeing all your posts it reall inspires me to learn more abt trading while remainin as an engineer.. at least for the time being. |
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spurs88
Senior |
10-Sep-2007 10:26
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I think I had to thank to market for he super bull run for the past year also. I am watching my Labroy spinning money now. Another example of importance of timing and gut feelings. |
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Centaur
Veteran |
10-Sep-2007 10:13
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Amazing, i assume you are trading on your own and not working in any co. It takes a lot of courage to move out from a secure job and trade on your own. At the very least, one must make sure he/she can make a consistent income out of trading alone which i believe not many pp can do that.. |
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spurs88
Senior |
10-Sep-2007 10:09
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No need to take any course or worry about career path. Just have enough capital to start trading. Do your own research and must have lots of gut feelings on when to buy and sell. Don't be greedy or sentimental. I have made in 1 year more than what I have earned for the last 20 years. So I foresee I can shake leg for the next 20 years, if I am not greedy. |
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Centaur
Veteran |
10-Sep-2007 10:03
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Hi Spurs88, how did you switch from being a teacher to day trader?? Any course to take for that career path?? |
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Manikamaniko.
Master |
10-Sep-2007 00:19
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Spurs88... :) |
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Pension
Elite |
09-Sep-2007 20:26
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it good to be day and night trader and earn much more than 9 to 5 work. spend more time to do research in share. if you work in mnc or sme, try not to compete with other, let them climb the corporate ladder. the more you compete the more enemy you create. let your peer climb the corporate laddder, the higher they climb the more job they take. you just sit silently behind your desk and play some share and contribute to SJ forum, I think you can earn much more than your superior. |
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spurs88
Senior |
09-Sep-2007 19:25
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Chickenking. I was also an engineer and later a teacher. I was very disillusioned with the amount of work piled on me by my boss. And when promotion time came, usually those wearing skirts would be promoted as my boss was well-known for his 'preference'. I decided to switch to day trading one day. Now I am earning way more than what I used to get most of the time, and I am my own boss. I am now financially independent and can afford to shake legs anytime I think that the market has become overheated. Nowadays, I only buy when market is down and i get to spend more time with my family. So don't be disheartened. Once you have enough capital, try to switch to day trading. I can assure you of the tremendous satsifaction rather than having to wait for promotion year in and year out, when in your heart you know of the huge unfairness of your boss. |
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Pension
Elite |
09-Sep-2007 15:49
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enginner no prospect, hawker more prospect and have time to trade share. |
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