Reply to: I need out :(

[SantaClaus]

Well said Santa, I suppose you have 364 days off to learn trading etc.

LOL, I trade quite well. How else do you expect me to pay for all those presents

[BlasterBates]

...so how easy is it to become a broker, I rather fancy the idea.

I can "detach" myself, lost lots in the past on the stock market, so I've been through "oh sh*t I've lost loads" feeling, but I seem to have the inbuilt compulsive gamblers mentality of "it doesn't matter I'll shove more on tomorrow" attitude.

I mean I do suffer stress, but then after one sleepless night I'm so tired I couldn't give a sh*t.

I think we need to swap jobs.

[kandr]

I don't usually post on this forum, but felt compelled to reply.

So you want to be a highly paid contractor?

If you think a career in IT is any easier than working in brokerage, then think again. In the unlikely event that you manage to find a highly paid contract in an ever diminishing pool of jobs, to earn the big bucks, you will have to work in the financial sector. The pressure in IT banking jobs will be probably be higher than you are experiencing now.

As a previous poster said, you would be wise to learn Hindi, because thats where the jobs are going. A friend of mine who I worked with at a well know investment bank now manages a team of cheap developers in India. I've seen this repeated over and over in many banks I have worked at.

Hours are long too, you will be expected to work evenings and weekends in order to rollout software releases. Overnight support is a lovely perk of the job, if you don't mind being woken from a deep sleep at 3am

Interview processes for banks such as Barcap are gruelling for UK contractors, but easy for Indian workers via consultancies such as EDS & Capita. This is 100% deliberate.

Got to disagree with you that the market is a casino and no-one makes money from it. It's 100% gambling if you don't know what you're doing. On the other hand, it can be likened to a game of poker, but if you know the rules and tricks the banks play every day, you can profit from it.

I can count on one hand the number of successful traders I know. They are not the big boys at the top banks, they simply follow the clues that the big boys leave all over the charts. You do not need the capital to move a currency to profit from it's movements. Just join the stop-hunters and trade in the same direction. Look for "failed" setups that the majority of retail traders are taking and profit from their failures.

Well said Santa, I suppose you have 364 days off to learn trading etc.

[SantaClaus]

Thanks for your reply, I guess i'm also being unrealistic in looking for a quick fix to my troubles. Can you recommend any programs that you talked about? I've done a bit of research on the internet, but I seem to have come across a lot of people saying various training programs are scams. Basically I work as a broker now as when I got into it I thought it would be a good way of someone like myself to earn a good living. One thing that i've learned from it is that no one makes any money out of the markets unless they're one of the big guys at the top. There's the buy side and the sell side and only the sell side profits which is throught commissions on executions. Basically the markets are a casino and the banks and top investment firms are the house that always wins. Every dog has his day, and unfortunately when I did I just spent it like the idiot that I am. I've learned my lesson here...but the job isn't sustainable, the equity swings with your finances are just way to large and I just feel increasingly uneasy with my choosen career. When I say this job is making depressed, I'm not joking, I really do think i'm starting to suffer from anxiety which is from just being at the mercy of the markets every day. Basically I can't carry on living like this.

I don't usually post on this forum, but felt compelled to reply.

So you want to be a highly paid contractor?

If you think a career in IT is any easier than working in brokerage, then think again. In the unlikely event that you manage to find a highly paid contract in an ever diminishing pool of jobs, to earn the big bucks, you will have to work in the financial sector. The pressure in IT banking jobs will be probably be higher than you are experiencing now.

As a previous poster said, you would be wise to learn Hindi, because thats where the jobs are going. A friend of mine who I worked with at a well know investment bank now manages a team of cheap developers in India. I've seen this repeated over and over in many banks I have worked at.

Hours are long too, you will be expected to work evenings and weekends in order to rollout software releases. Overnight support is a lovely perk of the job, if you don't mind being woken from a deep sleep at 3am

Interview processes for banks such as Barcap are gruelling for UK contractors, but easy for Indian workers via consultancies such as EDS & Capita. This is 100% deliberate.

Got to disagree with you that the market is a casino and no-one makes money from it. It's 100% gambling if you don't know what you're doing. On the other hand, it can be likened to a game of poker, but if you know the rules and tricks the banks play every day, you can profit from it.

I can count on one hand the number of successful traders I know. They are not the big boys at the top banks, they simply follow the clues that the big boys leave all over the charts. You do not need the capital to move a currency to profit from it's movements. Just join the stop-hunters and trade in the same direction. Look for "failed" setups that the majority of retail traders are taking and profit from their failures.

[BlasterBates]

My advice, do an Open University degree. It isn't that expensive and you can work at the same time.

Once you have a couple of exams under your belt, and a tutor or two to provide a reference. this will be proof enough to any employer that you cut mustard. The only problem is you wouldn't be on 40 K a year, more like 20, but it would be a step in the right direction.

You can always simply apply without any of that, but I wouldn't rate your chances.

Of course now isn't a good time generally but in a few years things will probably look quite different, and you'll get your foot in the door when things pick up. The advantage of an OU degree is that you can pace it, go slow if your busy, or if you're out of work, you can do a lot more.

Actually working as a broker would be good experience for jobs in banks, and as your degree progresses maybe you could get your foot in the door (even where you work) as a business analyst.

Employers do accept "I read a book about it" you just need to answer their questions, when they test your knowledge.

good luck

[jimjamuk]

Hey,
Right i'm 25 and I work in sales based commission only job in an dying industry.

Are you an IT pimp?

[kandr]

Oh I don't know. My ride to the top was effortless.

KY?

[MarillionFan]

Oh I don't know. My ride to the top was effortless.

Oh I don't know. You did complain your knees were chaffed and you had a sore throat.

[sasguru]

You will get a lot of anxiety in this game until you become a top dog also.

Oh I don't know. My ride to the top was effortless.

[EternalOptimist]

You will get a lot of anxiety in this game until you become a top dog also. Maybe its the same the whole world over, maybe you just want an easy route to becoming a top dog ?

Anyways, I wish you all the best, and hope you find your peace

[alreadypacked]

Good points; Open University can also be a good route, parallel to getting professional qualifications along the way.

Plus; try to get a broad range of experience before choosing a specialism; helpdesk, programming, testing, systems or applications admin and then move into the field you enjoy most (or in my case, choose the one you're least crap at).

I think in the current market it is easier to get contracts in 2 areas, skills in short supply and niche area. If you can work out what either of the areas will be and train for it, you will be ok.

Most enjoy, we are contractors we are paid to do the stuff other people don't want to do, don't become a contractor if you expect to enjoy your work.

I take short contract, so I am on count down from day one if I really hate it.

[Mich the Tester]

I'm going to go with benefit of the doubt here.

Welcome.

Well good for you for wanting to make the change. IT is a tougher environment than it used to be, but get the right skills coupled with the right attitude than it is still a good career.

Your friend is lucky, in so much of the rates. But it's not all about that headline rate. To get to that point he will have first needed to have gained the skills.

I don't believe University would be a good choice for you. You don't say what your experience with IT is at the moment, but there are plenty of careers you could look to start in. Development, Business Analysis, Databases etc.

Because of your age, lack of experience and personal circumstances I would recommend you look for a nightschool approach to start with. There are plenty of private companies & college courses you will need to research the right ones for you. I would suggest you stick with your day job. This will still bring the pennies in and may lead to additional opportunities. As you become more confident in your new skills and course you may see other opportunities internally.

By gradually going through such a course, you can add to it by doing online course and/or books for your given area. This approach will allow you to gain the skills & confidence to start applying for roles.

You need to apply for a junior role within existing companies. The salary will not be great, but companies(especially small private ones) will look to take on candidates who are learning and have the drive. Serve an apprenticeship for a few years at your first place then see where it takes you.

Good luck.

Good points; Open University can also be a good route, parallel to getting professional qualifications along the way.

Plus; try to get a broad range of experience before choosing a specialism; helpdesk, programming, testing, systems or applications admin and then move into the field you enjoy most (or in my case, choose the one you're least crap at).

[ATX]

I'm going to go with benefit of the doubt here.

Welcome.

Well good for you for wanting to make the change. IT is a tougher environment than it used to be, but get the right skills coupled with the right attitude than it is still a good career.

Your friend is lucky, in so much of the rates. But it's not all about that headline rate. To get to that point he will have first needed to have gained the skills.

I don't believe University would be a good choice for you. You don't say what your experience with IT is at the moment, but there are plenty of careers you could look to start in. Development, Business Analysis, Databases etc.

Because of your age, lack of experience and personal circumstances I would recommend you look for a nightschool approach to start with. There are plenty of private companies & college courses you will need to research the right ones for you. I would suggest you stick with your day job. This will still bring the pennies in and may lead to additional opportunities. As you become more confident in your new skills and course you may see other opportunities internally.

By gradually going through such a course, you can add to it by doing online course and/or books for your given area. This approach will allow you to gain the skills & confidence to start applying for roles.

You need to apply for a junior role within existing companies. The salary will not be great, but companies(especially small private ones) will look to take on candidates who are learning and have the drive. Serve an apprenticeship for a few years at your first place then see where it takes you.

Good luck.

Thanks for your reply, I guess i'm also being unrealistic in looking for a quick fix to my troubles. Can you recommend any programs that you talked about? I've done a bit of research on the internet, but I seem to have come across a lot of people saying various training programs are scams. Basically I work as a broker now as when I got into it I thought it would be a good way of someone like myself to earn a good living. One thing that i've learned from it is that no one makes any money out of the markets unless they're one of the big guys at the top. There's the buy side and the sell side and only the sell side profits which is throught commissions on executions. Basically the markets are a casino and the banks and top investment firms are the house that always wins. Every dog has his day, and unfortunately when I did I just spent it like the idiot that I am. I've learned my lesson here...but the job isn't sustainable, the equity swings with your finances are just way to large and I just feel increasingly uneasy with my choosen career. When I say this job is making depressed, I'm not joking, I really do think i'm starting to suffer from anxiety which is from just being at the mercy of the markets every day. Basically I can't carry on living like this.

[northernladuk]

I'm going to go with benefit of the doubt here.

Welcome.

Well good for you for wanting to make the change. IT is a tougher environment than it used to be, but get the right skills coupled with the right attitude than it is still a good career.

Your friend is lucky, in so much of the rates. But it's not all about that headline rate. To get to that point he will have first needed to have gained the skills.

I don't believe University would be a good choice for you. You don't say what your experience with IT is at the moment, but there are plenty of careers you could look to start in. Development, Business Analysis, Databases etc.

Because of your age, lack of experience and personal circumstances I would recommend you look for a nightschool approach to start with. There are plenty of private companies & college courses you will need to research the right ones for you. I would suggest you stick with your day job. This will still bring the pennies in and may lead to additional opportunities. As you become more confident in your new skills and course you may see other opportunities internally.

By gradually going through such a course, you can add to it by doing online course and/or books for your given area. This approach will allow you to gain the skills & confidence to start applying for roles.

You need to apply for a junior role within existing companies. The salary will not be great, but companies(especially small private ones) will look to take on candidates who are learning and have the drive. Serve an apprenticeship for a few years at your first place then see where it takes you.

Good luck.

Get a mod or admin quick!!! Someone has hacked MF's account. It needs locking immediately...

tulip! Was this in General????

****

In that case, just apply, you'll get a £1000 a day like the rest of us chancers.

Ah ok scratch that, he is back. They must have changed the coffee at MF's place or something.

[MarillionFan]

Stunned.

A sensible reply specifically in General.

At a guess, contracting is a bit more secure than commission only sales.

Some sort of evening course to see if you're any good at it (or IT) would be a good place to start.

shit:! Was this in General????

****

In that case, just apply, you'll get a £1000 a day like the rest of us chancers.