Endicott's genuine advice to young people who want to make it as pro traders

Discussion in 'Professional Trading' started by endicottsteel, Apr 22, 2016.


  1. ...You look for the birds...they're gonna help you, those birds...you'll see -- good luck."
    [​IMG]
    --Eli Wallach, Wall Street 2. 2010 movie :rolleyes:
     
    #91     Apr 28, 2016
    lucysparabola likes this.
  2. Handle123

    Handle123

    So you want to learn how to fly? ROFLMAO.




    Think she knows how to fly? Notice any cracks?

     
    #92     Apr 28, 2016
  3. yiehom

    yiehom

    Right: if the student is willing and the teacher is capable, they form the dream team.

     
    #93     Apr 29, 2016
  4. kut2k2

    kut2k2

    The ignorance displayed in this thread about LTCM is appalling. The assumption that just because they had computers and a few PhDs and even a Nobel prize winner or two that they should have killed it is ludicrous. And their failure is in no way "proof" that math doesn't work.

    What LTCM did isn't some big mystery. First of all, they didn't pursue a basket of strategies. Their focus was on highly leveraged arbitrage trades. No directional trades at all. They probably had no better idea how to find a trend than most of ET does. Believe it or not, there is no math class called Trend Finding. It remains for most, mathematically adept or not, an art and for a very few, an undisclosed science.

    Mathematics and statistics are very beneficial tools but possessing them is no guarantee that you'll find the best edge(s). But they can enable you to optimize your edge once you find it.
     
    #94     Apr 29, 2016
    lucysparabola and endicottsteel like this.
  5. if anything the responses from some on this thread back up my point about joining a professional firm. just sayin.
     
    #95     Apr 29, 2016
    lucysparabola likes this.
  6. yiehom

    yiehom

    So, ladies and gents, it took our here resident great pretender a whole week, in an age of google and wikipedia, to figure out that LTCM doesn't stand for Losing Trader Crappy Moron.
    A pity but I now understand he needs all the math he can find where we all have more than enough with elementary arithmetics.
     
    #96     Apr 29, 2016