News for hackers. Stuff that matters.
Re:Ask HN: Why be an option/futures/day trader when it is ze... by rrival on Thursday May 15, 2008 @04:20PM (#190888)
I have a Series 3 (futures/forex) license and worked in that industry for about 6 months. It was like the bad parts of Boiler Room. I left when I realized the shop I was working for had no problem ripping off retail clients and allowing them to speculate with money they didn't have; clients had to sell their homes to cover their obligations.

Bona fide hedging is a lucrative business for the companies involved, whether that's hedging against currency or commodity price fluctuations. It's also more "buy side" than "sell side" - you're dealing with companies rather than 'raising money' from new clients who get blown out over the course of 3 months.

I know a few successful options traders. It's highly lucrative (high 6 figs base after a few years), you just need the pedigree and the intellect to pull it off. If you're in a position to do that, though, you might try to get an analyst job, get on a path to assistant portfolio management, portfolio management, keep a good track record and start a hedge fund. That's all buy side and would allow for some flexibility in the strategies you implement.

Re:Ask HN: Why be an option/futures/day trader when it is ze... by mattmaroon on Thursday May 15, 2008 @07:12PM (#191157)
Was the acting as bad?