A 20 year old chess associate of mine has asked me about a possible career in markets. He's International Master strength at chess (close to getting the title), a second year maths undergraduate, has an interest in poker and was in the Bolton Wanderers soccer academy until he was 16.

I've suggested he reads up on the field and sent him links to the Daily Speculations book list. What other steps should he take?

Peter Pinkhasov writes: 

Not that I know anything, but I lost my roll a few times with all the money I've saved up from folding towels at the jewish community center from grade 7 trying to lever it up my last year in college. I think $ is a product of work for which discovering that one doesn't have the emotional capacity to do could be costly in terms of time value. I wasn't blessed with having a mentor when I started but it would have saved me a lot of time and efforts if I had read Education of a Speculator many years earlier. I think trying it yourself with self capital is good start.

anonymous writes: 

Take up some sports. It teaches you how to lose regularly and hopefully with grace and dignity. I suppose chess does that, but the physicality of sports, and trading, makes it helpful.





Speak your mind

4 Comments so far

  1. JJ Biggs on February 7, 2018 4:19 am


  2. Jim Davis on February 8, 2018 2:39 am

    Learn how to play the horses well.

    If you can do that, you can do most anything.

  3. Bill Posters on February 8, 2018 3:48 pm

    My advice for what its worth get the boy away from the screens and keyboards.

    I cannot recommend my own field of outdoor display advertising as its in long term decline.

    For a trade I would recommend the Part P electrical quailfication. Or plumbing, qualify as a Gas safe engineer. He will never be short of work.

    If he is still keen on the books study medicine or fundamental life science. There can be no greater achievement than to save a life.

    One of the surprising things I have learnt from a number of years reading this blog is that very rich people can be very unhappy.

  4. Andre on February 9, 2018 5:39 pm

    The recent market required a trader to abandon tests and relly on his faculties and experiences from a decade ago. Like if a jet liner is having multiple failures the seasoned pilot will have better odds of saving the plane when all systems fail. So even if you have it all “figured out” nothing beats experience.


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