How To Be A Trader
May 23, 2013 at 11:37 PM To be a Trader requires a shift in thinking, because rational thought is immediately required to take a back seat. Most professions leave little room for error, yet a Professional Trader is expected to be wrong 30-40% of the time. Imagine a pilot who missed his landing more than once, or an engineer with structural supports unable to bear the load they were created to carry. Both professionals would quickly find themselves seeking new careers. To be a Trader, is to be wrong repeatedly and still collect a bonus.
According to Bloomberg, Wall Street Traders with 10 years experience earn upwards of $1M annually, while their neurosurgeon contemporaries pull down only $600k and are often required to spend as much as 1/3 of those earnings on malpractice insurance. Why? Because the surgeon is expected to get it right.. every single time. The Trader? Not so much...
