And the typo mistake is corrected here: http://www.elitetrader.com/et/index...ategy-for-index-futures-options.298637/page-5
Forget about typo mistakes, as they do not really matter. I would not agree with waiting and holding in the first 40 minutes, as the best time of day to trade in and out is the first 35 min, if you know what to do, of course. Not really anything different there. A much simpler longer term day trade strategy is One Time Framing, very simple, and effective enough to make money, but not as near as good as daytrading the first 35 min. J_S
Yes, I know, I edited my post to clarify, but as mentioned, OTF is much simpler, and as used by many professional traders, it has more weight than an experimental strategy based on maths. J_S
Thanks for mentioning the OTF. I found this link with neat explanation of it. https://www.tradingadvantage.com/free_offer/TA One Time Framing Technique.pdf My strategy identifies high probability areas as follows: 1. Initial session of the market open (within 40 minutes) 2. Initial volatility (<0.5%) 3. Noise-free zone (5 minutes candle with H-L<0.08%) 4. ONLY Demand level speaks of the future than any other indicators. 5. Demand level based entry rather than popular support/resistance level technique (eg. OTF). 6. Open target based on demand level rather than support/resistance levels.
You didn't say anything about a family if you have such...kids ? If you have a family it will obviously be one of the deciding factors of where you go and live. For example, you talk about the costs of University of Toronto...the cost of living in that city is extremely high if you're single and higher if you have a family. In addition, many of the top schools have higher costs for those "out of province". Therefore, there's a relocation issue for you...to stay in province or move to another province. If the latter is an issue for you,m its best to decide on the school you want to attend and then move to that province to establish residency in that province within the first year so that you can literally save 10k to 20k in education costs. There's also the issue of jobs after your education. The cities that offer the best business school education usually have the city with the best employment opportunities in such. Simply, you're not just relocating for school, there's a good chance in the beginning you're going to continue living in that area in your new career unless you went to the top school and you don't mind getting a job at a firm that may send you anywhere in the world if you're qualified. For example, my best friend went to York University in Toronto as an older returning student of 46 years old and because he's fluent in Chinese (cantonese and mandarin dialects)...he landed a high paying finance job in Hong Kong for a European financial institution. Hours are killers...60hrs work week but he was able to move his family to Hong Kong within a few months after landing the job. His family hates his hours but his 18 year old daughter landed an English/French tutoring job in Hong Kong that pays $30hr. My point is that you already have a talent or career as a pilot. You obviously want to keep that as a back up plan or at least be able to do such part-time or as a hobby while going to school to support yourself. Thus, your choice of school may ultimately be determine by local airfields that will allow you to be able to support yourself as a pilot while going back to college without any horrendous long commutes to do so...traffic in all the major cities that have the top business schools are really bad. Also, if you have a family, that's another deciding factor in your choice of schools. Thus, as you suggested...scheduling and costs is a big factor in where you go but you don't want to choose a school so low on the totem pole that you're defeating the purpose for going back to college to get a degree or MBA because you'll be limiting your opportunities due to the fact some of the best employments do look at the school you attended...I would say so more in Canada than the U.S. Were your grades from prior college education good enough to earn you a possible scholarship ? I know there's programs for such designed for older returning students but I can't remember their names. Its worth it for you to research such and talk to advisors from the schools you're interested in attending.
I was in your shoes 20 years ago. I was a cargo pilot in my mid twenties with my ATP and a ddgree in Aeronautical Science from Embry Riddle. I was always on call and sleeping at airport hotels. We had our first child and I wanted to be there for my kids, so I got into finance. I am now in my mid forties and have been an Institutional buy side equity trader for 19 years or so. I haven't read tthrough all the posts, but I will say that the grass is always greener. Finance is a tough business with a ton of competition and little stability. I was laid off last year and have had a really hard time finding a new seat. Currently trying to start a hedge fund, which is a long and bumpy road. I could write a book about all the things I have been trough in finance, all I am saying is be careful giving up what you have. As a fellow pilot I am happy to answer more questions via pm if you want.