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-- I will reveal the Holy Grail in this thread... (http://www.elitetrader.com/vb/showthread.php?threadid=238578)

Posted by blowingup2012 on 03-12-12 11:13 PM:

I will reveal the Holy Grail in this thread...

I had posed a question earlier in the ET community if they had found the Holy Grail. After about 10+ pages of moronic replies, I came to the conclusion that they had not found it. Now I will reveal the Holy Grail to you.

The Holy Grail is at a place called H-A-R-V-A-R-D. If you can get there, then you will have found the Holy Grail. I hope this thread has been helpful.



Posted by tradin4profits on 03-12-12 11:19 PM:

Not quite EMG the Holy Grail is nothing more than HAVING common sense!

Posted by sn0wblind on 03-12-12 11:34 PM:

depends on what your goals are.
Personally i prefer my freedom and good day-to-day profits over being a suit at some giant firm.

Posted by jnbadger on 03-12-12 11:44 PM:

I wonder how many poor saps invested in hedge funds thinking "He's got an Ivy league education. He can't lose."

Posted by blowingup2012 on 03-12-12 11:50 PM:

Whatever happens to the hedge funds...whatever happens to brokers like Morgan Stanley, the guy with the Ivy League education will either be 1) given a bonus, salary or both OR 2) get fired. Lets say he gets fired then they will probably find a respectable job somewhere else especially with the connections they made in college with other Ivy Leaguers. However, the guy with the Ivy League education will in no way be wiped out like the stockholders of Bear Stearns or Lehman.

It is only a win-win situation for the Ivy Leaguer...for everyone else it is just lose-lose.

Posted by tradin4profits on 03-12-12 11:56 PM:

Many business owners can make an "Ivy leaguer" salary look like peanuts and you dont have to have a college degree to own an extremely successful business... catch a clue !

Posted by blowingup2012 on 03-13-12 12:01 AM:

The key to making six or more figures in business is one thing, but the key to making six or more figures in trading is really an Ivy League degree. Yeah, there are of course other ways to make it into the big leagues, but the easiest way seems to be the way of the Ivies.

Trading at home or a low-end prop firm is probably not the best way to make it into the big leagues.

Posted by jnbadger on 03-13-12 12:02 AM:

Quote from tradin4profits:

catch a clue oh arrogant one.


No shit. I think he may be a college recruiter who's scared because people are figuring out they don't need a college education to be successful.

Posted by tradin4profits on 03-13-12 12:06 AM:

Quote from jnbadger:

I wonder how many poor saps invested in hedge funds thinking "He's got an Ivy league education. He can't lose."




I wonder how many poor parents invested in their kids getting them an ivy league education thinking "He's got an Ivy league education. He can't lose. I bet there are many that wish they would have kept their money in the bank!

Posted by jnbadger on 03-13-12 12:06 AM:

Quote from blowingup2012:



Trading at home or a low-end prop firm is probably not the best way to make it into the big leagues.


What's your idea of "the big leagues". I trade at home for a prop firm, and it is all I want to do, and the sky is the limit. I've never looked at it as a stepping stone. Going to work in the big city wearing a tie would be nothing short of a nightmare.

Posted by tradin4profits on 03-13-12 12:08 AM:

Quote from blowingup2012:

The key to making six or more figures in business is one thing, but the key to making six or more figures in trading is really an Ivy League degree. Yeah, there are of course other ways to make it into the big leagues, but the easiest way seems to be the way of the Ivies.

Trading at home or a low-end prop firm is probably not the best way to make it into the big leagues.


Oh thank you your highness for you wise words of wisdom, I will try to live up to your standards.....NOT!!

Posted by Cdntrader on 03-13-12 01:01 AM:

Quote from jnbadger:

What's your idea of "the big leagues". I trade at home for a prop firm, and it is all I want to do, and the sky is the limit. I've never looked at it as a stepping stone. Going to work in the big city wearing a tie would be nothing short of a nightmare.


No shit.

Anyone who as ever worked on the street and had to wear a monkey suit will tell you that.

Bud Fox "You know what Marv, My dream is to be on other end of this phone someday."

Marv " You got that right! Where the REAL cheesecake is!!"

Posted by Covertibility on 03-13-12 01:52 AM:

Quote from blowingup2012:

The key to making six or more figures in business is one thing, but the key to making six or more figures in trading is really an Ivy League degree. Yeah, there are of course other ways to make it into the big leagues, but the easiest way seems to be the way of the Ivies.

Trading at home or a low-end prop firm is probably not the best way to make it into the big leagues.


I think the ivy does open doors more easily...

This site is anti-college, anti-educational. I know I don't bother people with less than a masters for a reason.

Posted by tradin4profits on 03-13-12 02:05 AM:

Quote from Covertibility:

I think the ivy does open doors more easily...

This site is anti-college, anti-educational. I know I don't bother people with less than a masters for a reason.


What do you do ? Ask people if they have a masters before you will talk with them? Or are they so arrogant they where a tshirt with " I have a Masters " printed on it?

I admit it, I quit school in 11th grade but the funny thing is every employee I have working for me has at least 1 college degree and some of them have masters.... ain't that a Hoot! Some people can teach themselves...others have to be told what to do.

Posted by pennystocker on 03-13-12 02:37 AM:

Thanks for the advice. I will check out Harvard.

__________________
The very substance of the ambitious is merely the shadow of a dream.

Posted by jnbadger on 03-13-12 02:40 AM:

Quote from Covertibility:

This site is anti-college, anti-educational. I know I don't bother people with less than a masters for a reason.


Not anti-college. Just anti-college when it comes to trading. Why do you think that is? Perhaps it's because we are encouraged to pursue knowledge on our own, and discovering a method on your own is infinitely better than having one taught to you.

I wonder how many of the guys posting huge numbers in the 2007 and 2008 P/L threads have degrees. I know for a fact that many of them don't.

My brother is a Captain for Southwest, and I was surprised to hear him say that many of the pilots there don't have degrees. He said if he were to do it over, he would simply immerse himself in what he loved to do, and bypassed college.

I'm college educated, but the only thing which has helped me as a trader is a couple of statistics classes. Information I could have gotten at Barnes and Noble.

If you want to be a trader, then just do it. College is an excellent experience, and I would recommend it to everyone, but this notion that an Ivy League education is necessary to succeed is not only getting tiresome, it is complete and utter bullshit.

Posted by blowingup2012 on 03-13-12 03:11 AM:

In this thread, we are talking in terms of finding the holy grail in trading. This is not about being the captain of industry or the pilot of an aircraft. Of course, there are CEOs out there without degrees.

My belief is the golden key is landing in an institution as a trader. You are recruited right out of college and are given a guaranteed salary along with a discretionary bonus. If things dont work out after a few years then there are other avenues to go. In any event, you are making a salary the entire time along with a bonus.

The lower bracket prop firm trader or at home day trader is an entirely different ball game for obvious reasons. The Holy Grail might be found there and sometimes it is found there, but its less likely you will find it there.

The Holy Grail and guaranteed path is through the institutions like Goldman Sachs. You wont be penalized if you fail at Goldman. Only the day or prop firm trader is penalized. Look at Fabrice Tourre...the "fabulous fab"...even though he was called in front of Congress suprisingly he got to keep his job. It was a stressful situation, but a happy ending for the fabulous fab. There is no happy ending for the failed prop or retail trader if they screw up.

Posted by jnbadger on 03-13-12 03:34 AM:

Quote from blowingup2012:

In this thread, we are talking in terms of finding the holy grail in trading.


Exactly. And you and I obviously have 2 completely different goals.

You want to have an educational cushion when you fail, so you can still get a job.

I have a job which I have failed at and bounced back from so many times, I should get a "resilient" tattoo on my forehead. And that job as a resiliency expert will always be there as long as I am able to adapt and come up with new ideas when times are tough.

Please tell me of a school which teaches that.

Posted by Covertibility on 03-13-12 03:35 AM:

Why be a trader, analysts can be utterly wrong 95% of the time and still make more than the average trader.

Posted by jnbadger on 03-13-12 03:44 AM:

Abby Cohen comes to mind. I'd rather wear a suit and tie than wear jeans and a t-shirt while being an analyst. 2 different worlds. Not for me.

Posted by tenthousandmen on 03-13-12 03:50 AM:

Re: I will reveal the Holy Grail in this thread...

Quote from blowingup2012:


The Holy Grail is at a place called H-A-R-V-A-R-D.


are you attempting to flatter me?


joking put to side....you seriously need to get off the boards and come back with a different screen name if you want to participate while not being a waste of time gsc jackass

lastly that flow chart image, its a wonder emg spent so much time on that. geez. sorry emg

Posted by jnbadger on 03-13-12 04:11 AM:

Re: I will reveal the Holy Grail in this thread...

Quote from blowingup2012:

I had posed a question earlier in the ET community if they had found the Holy Grail. After about 10+ pages of moronic replies, I came to the conclusion that they had not found it. Now I will reveal the Holy Grail to you.

The Holy Grail is at a place called H-A-R-V-A-R-D. If you can get there, then you will have found the Holy Grail. I hope this thread has been helpful.






Welcome to Chit Chat, Blowjob.

Posted by galvinlee888 on 03-13-12 06:10 AM:

Re: I will reveal the Holy Grail in this thread...

Quote from blowingup2012:

I had posed a question earlier in the ET community if they had found the Holy Grail. After about 10+ pages of moronic replies, I came to the conclusion that they had not found it. Now I will reveal the Holy Grail to you.

The Holy Grail is at a place called H-A-R-V-A-R-D. If you can get there, then you will have found the Holy Grail. I hope this thread has been helpful.





Not sure if you are EMG, but I have to admit that you are right, I been through the same path before and this is the one (at least the one that I know) path that really work.

You learn so much when you are with them, and at the same time, you have opportunity to save money for your future trading capital. You need at least 500K capital in order to trade with reasonable risk, with about 15-20% return a year.

Start from 10K to 10 million ?? The chance for this to happen is not any better than winning a lottery. This is only the dream from the loser (like Small Bicycle), those snake oil sales man that try to sell you something, hedge fund Mgr, your broker / market maker (beware: a lot of these type of people in ET). A secret to share, even with a team of 100 PhD from HARWARD, they still can't make 10K to 10 million ..

Market is random .. try a random generator and you still get the same chart as S&P500. -> This is the holy Grail.

Posted by twofacedjoker on 03-13-12 05:44 PM:

Re: Re: I will reveal the Holy Grail in this thread...

Quote from galvinlee888:

Market is random .. try a random generator and you still get the same chart as S&P500. -> This is the holy Grail.

If that is true, you have the Holy Grail right there.

Posted by shopster on 03-14-12 02:05 AM:

Quote from blowingup2012:

The key to making six or more figures in business is one thing, but the key to making six or more figures in trading is really an Ivy League degree............


i have done both.

Harvard clowns are a dime a dozen and they cannot trade their way out of a wet paper bag.

-1

s

__________________
the world is so certain yet i walk on thin ice.

Posted by ssrrkk on 03-14-12 11:21 AM:

Quote from blowingup2012:

In this thread, we are talking in terms of finding the holy grail in trading. This is not about being the captain of industry or the pilot of an aircraft. Of course, there are CEOs out there without degrees.

My belief is the golden key is landing in an institution as a trader. You are recruited right out of college and are given a guaranteed salary along with a discretionary bonus. If things dont work out after a few years then there are other avenues to go. In any event, you are making a salary the entire time along with a bonus.

The lower bracket prop firm trader or at home day trader is an entirely different ball game for obvious reasons. The Holy Grail might be found there and sometimes it is found there, but its less likely you will find it there.

The Holy Grail and guaranteed path is through the institutions like Goldman Sachs. You wont be penalized if you fail at Goldman. Only the day or prop firm trader is penalized. Look at Fabrice Tourre...the "fabulous fab"...even though he was called in front of Congress suprisingly he got to keep his job. It was a stressful situation, but a happy ending for the fabulous fab. There is no happy ending for the failed prop or retail trader if they screw up.


emg, seems to me you were posting calls on the ES journal a few years back, i.e., you are a retail trader. Putting that together with your blowingup story which I assume is true, then I guess: (1) you don't have the requisite higher education to make it in trading, (2) you blew up your account and ended up in the 95% loser category.

I suppose it only makes sense. People who have the "traditional qualifications" rarely belabor the point. They know it takes much more than just a line in the education section of your CV. In fact those qualifications only help to get your foot in the door (and there are many routes to getting your foot in the door) -- the rest is all about hard work, ingenuity, skill, knowledge, and of course politicking. People who don't have the qualifications often make that their focal point in their explanations as to why they couldn't make it in the field.

Posted by shopster on 03-14-12 11:28 AM:

Quote from THE-BEAKER:

http://www.nytimes.com/2012/03/14/o...=3&pagewanted=1

__________________
the world is so certain yet i walk on thin ice.

Posted by shopster on 03-14-12 11:30 AM:

" To put the problem in the simplest terms, the interests of the client continue to be sidelined in the way the firm operates and thinks about making money. .........."

Salomon Bothers ran the same style shop.
the culture was to offload all the crap to the client and rack up a big bonus at year end.

pretend to sell value to your client and dump the garbage in his account with a fat spread.

pure bullshit.

" Liars poker " by Lewis who worked for the lads in the 80's, chronicles the entire culture and mentality of Wall Street.

you were either a " grunt, wimp or a Big Swingin' Dick.........."

nothing has changed in the past 40 years except there are more zeros on the end of all the numbers.

" Wall street has a grave yard at the top, a river at the bottom and kindergarten with the kiddies in the middle......"

Bozzo the clown is still in charge and pulling the levers.

cheers,

s

__________________
the world is so certain yet i walk on thin ice.

Posted by highballs on 03-14-12 05:05 PM:

Re: I will reveal the Holy Grail in this thread...

Quote from blowingup2012:

I had posed a question earlier in the ET community if they had found the Holy Grail. After about 10+ pages of moronic replies, I came to the conclusion that they had not found it. Now I will reveal the Holy Grail to you.

The Holy Grail is at a place called H-A-R-V-A-R-D. If you can get there, then you will have found the Holy Grail. I hope this thread has been helpful.





Did you make this? Very clever and very funny!

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