December 02, 2005

It's official

I have officially resigned a computer programming position with my current employer and will begin trading as a proprietary trader with a firm in January. I don't know how specific I will be able to get with the actual trading, but I would like to post a detailed account of what it is like becoming and being a proprietary trader. Whether I succeed or fail, I think it will be a useful resource to others.

Comments

What exactly is a proprietary trader ? Maybe I should have asked that question prior to commenting on the position you were offered in a previous post. : )

Whatever it is, I hope it works out well and brings you happiness and fulfillment.

Regards

Posted by: Todd at December 2, 2005 09:42 PM

Congratulations! Once you do start the full-time job, do write about the differences between part-time and full-time trading.

Posted by: Kaushik at December 3, 2005 12:13 AM

Way to go Ugly! Congrats! In a few years I can see you hob knobbing with Soros with a hot chess chick on you arm!

Posted by: Tom at December 3, 2005 07:25 AM

Apparently proprietary trading means you sign up with a firm that will allow you to put up some capital and they put up some capital and then you use their facility to make trades. You both agree to some kind of set amount of profit sharing. I believe the trading costs are a lot of lower and the ease of entry and exit is also better.

Posted by: Monksdream at December 3, 2005 10:05 AM

Hey Ugly

I used to print out your blog pages and reading them during my lunch breaks or while sitting in traffic in my very much despised truck. Congratulations! Ugly is American!

Posted by: frank at December 3, 2005 11:12 AM

Good luck on your new venture. We remember your first trading days (training days, too!)
Donna and Jerry

Posted by: donna at December 3, 2005 02:32 PM

Best wishes on your new endeavour! Please know that we are all rooting for you :o)

Posted by: Babak at December 4, 2005 01:18 AM

Thanks everyone

Posted by: Ugly [TypeKey Profile Page] at December 4, 2005 12:50 PM

Good luck Master Ugly
Thundersforever

Posted by: Anonymous at December 4, 2005 08:22 PM

I wish you only the best for you. :)

-sole

Posted by: sole at December 5, 2005 12:12 AM

congrats on your new career! be sure to keep us posted on what it is like trade as a career.

Posted by: JOHNS WU at December 5, 2005 04:12 AM

Congratulations!

Posted by: Bob at December 5, 2005 02:29 PM

dear god have you screwed yourself over big time. see you in the bucket shops :o\

Posted by: happyweasel at December 5, 2005 02:52 PM


Post a comment




Remember Me?




(you may use HTML tags for style)