WOW, lol Flash Gordon, I remember seeing the wire when they had space ship going some where, high tech. I doubt many here who ever saw Flash Gordon.
I absolutely concur. NOBODY cares about a track record if you want to work for a firm. They care about your skills. Skills can be quantified. Track records cannot be. They are way too random. Nobody randomly gets a masters degree. Or randomly learns to program in R. These are hard skills. Hard skills are what you need to get hired. It's never too late to go back to school. It's never too late to take night classes. Hell you can take all these courses for free through MOOCs. Just do it already. Build hard skills.
Being a PM would be the long term goal I'd say, rather than just trading my own account. Big part of why I'm taking CFA at the moment as I'm hoping that will help me make the move over to buy side, or at least sell side research for a few years before landing a HF gig. Thing is there aren't exactly a lot of hedge funds in NZ...or sell side research and my current job is doing my head in. Pays ok but there's more to life (or at least, I want more). Is it worth moving somewhere and trying to get into research there? Aware larger places=more jobs=more competition so I'm not sure if that's a winner either. I do like to hedge my bets (which I'm aware is not always the best strategy), hence it's also appealing to continue down the 'trade for myself' route as well as trying to land a junior job at a HF whilst keeping my day job to pay the bills. Is that spreading myself too thin?
Going by your name big all blacks fan eh? Looks like your focus ended in the wrong place, once you start concentrating on chasing money and profits it's usually a very slippy slope down to blowing your account and you probably ended up chasing price all over the place too... Choose a few instruments and stick with them and get your focus back on your process on the bigger time frames. With a small basket of currencies for example you will have more than enough opportunities on the 4hr tf to keep you busy and grow your account. Forget about how much money you want or should be making and get your process in order first.
Actually a play on The Black Keys, of which I'm a big fan. AB's ain't bad though, wouldn't consider myself a fan on an NZ scale, but internationally I imagine that's what I'd fall under. Yeah such a rookie move getting focused on the end game. Just like in sport, you focus on getting the little things right and focus on the here and now, not on what it will mean/feel like when you win. Lost sight of that completely. That was an important lesson that I wish I'd learnt a little cheaper
Ahh Black keys yeah they're good, I'm an nrl guy myself with the rugby Those lessons do come at a price. Remember profit is only the result of having your house in order.
No, you cannot assume that there "will always be opportunities" or that i am a "troll", taking advantage of price discrepancies requires an advantage in PRICING AND TIMING. These two variables are facing an inexorable convergence with the evolution of high-frequency trading and now quantum computing.
Q3D You sound like a total beat-off and you make trading out to be way more complicated than it is. It's definitely hard, but the mechanics are simple once you get a read on it. Markets go up, down, or sideways. No computer will ever change that. Find volatility (which isn't that hard) and indulge yourself in it. You need to understand momentum and form a plan around it. Momentum will always exist.
Incorrect. Momentum is determined by mass and velocity, HFT/quantum trading algorithms will/do have control over both variables at an increasing rate until extinction of retail traders becomes a commonly accepted truth.
@Q3D first of all, quant trading is short for quantitative trading, not quantum trading. Quantum computing, mass, velocity...discretionary trading isn't physics class. You're misleading people with scare tactics. You make high frequency traders out to be some warlocks who control markets with some magical mechanisms that you fail to cite. Don't try to scare people off by referencing something you clearly don't understand. We're just modern day specialists as far as you and other discretionary traders should be concerned.