Continuing Education

Discussion in 'Professional Trading' started by dvshucks, Jul 22, 2005.

  1. Hey, I've been debating whether or not to start the CFA process and I think I've finally decided to skip that as I don't really want to have to get a real job when I'm done with the tests.

    So instead I have decided to get a graduate degree with the time instead. I figure it might as well look good on a resume in case I need to actually ever get a job (lets hope not) but I want to help my trading too. What kind of degrees would you recommend to look at?

    I'm not incredibly interested in computer science unless its doubled with another area and while I plan on taking a few psych classes, I'm not taking a full load of them. I was thinking physics might be a good way to train my mind--maybe even in the chaos theory area. I was also thinking about a study of game theory as pertaining to political economics since I started the honors program in college with a thesis in that but when it came down to it I was too busy hanging out to finish it. I've already got a business degree and don't think its actually helped me out too much with my trading.

    What kind of degree would you go back and get?
  2. I found a masters in 'Mathematical Finance' that could be interesting since I don't really know my long division to well
  3. =======================


    Make sure you enjoy it or fits your personality , in case it doesnt help much as you mentioned before and ;
    as far as helping trading, nothing quite like occasional trading.:cool:

    Like lifelong learning.
  4. If I knew way back at the beginning what I presume to know now, I would have taken a serious look at educating myself for an avocation.

    I just fell into making money by two events so I didn't even take any courses for making money except economics 101 an elective from a list of electives.

    One person informed me of the scope and bounds of mking money in an hour. (Read the WSJ to me cover to cover from the perspective that as a deptament head at a college, he did not require a salary). He knew how to make money.

    The other person was a co-worker (IBM) trained at MIT. He was making money as a life plan for his family with separate accounts based upon FA and TA (TA mostly) that advanced on a daily basis (daily net goal). He knew how to make money.

    So I educated myself in FA and TA and used the WSJ for data.

    With this education, I did not need to work at a job. I did avocation things instead with my time. The model turned out to be: accidentally meeting someone interested in something; learning about it; solving a problem in that arena; writing a book about the solution. After a while, people kept showing up that wanted something done.

    All the while, I just mosied along making money using what came along to enhance the process of extraction.

    I have been drawn into the degree thing that you mention but from the other side. The Adjunct Professor routine. It is one where you don't have formal training in the fields you operate in but you do have cutting edge knowledge to forward the field as a consequence of the informal experience of solving the problems the field addresses pragmatically.

    I look back at my period of employment when i go out of school. It served an enabling purpose. It was the absolute proof I needed that you cannot make money by working at any job.

    Only money makes money and there is a simple formula for how it works. The importance of the variables is determed by where they appear in the formula. I considered and planned from that vantage point. Here is my viepoint:

    1. Time is the most important factor. (see yellow brick road)

    2. Profit is second in importance. (See SCT)

    3. Capital is only important because you can remove initial capital and solve a myriad of psychological and intellectual concerns, conditions and situations.

    There is a caveat to what I will say lastly. I have been evaluated by a lot of people in a lot of forums. For some reason the assessment is harsh and comprehensive regarding all that I post (I can't say contribute although I do only post where I think there is a conversation going on before I post). But I do feel that I am on solid ground in my comments, below, to you.

    I feel anyone can learn to make a lot of money. It is not a learning challenge.

    Those who do not are impeded by non money making factors.

    If you are a regular sort of person who is not plagued by having to be right instead of having to work on learning, then I recommed that you do not delay in using your time to begin to make money. Chose from the yellow brick road how fast you can conveniently extract it and make the amount of profit that is available in the period of the money making cycle. When you are able take out you initial capital and then begin the process of iteratively refining evrything to become most effective and efficient.

    You can then later become an Adjunct Professor of whatever you wanted to study after you, as an avocation, solve some pragmatic problems in that field. By solving problems of one sort or another it keeps you mentally alert and all that stuff.

    The making money thing seems to have a couple of challenges involved. They are not relate to learning, however. They are only related to keeping away from screwing up how you are learning.
    Think of it as planting an assortment of seeds. There are seeds that must be avoided. So every time someone hands you a bag of seeds, read the label. Only plant any seeds, ever, that have more powerful fruit regarding what you already know to be true.

    Look at the formula and see what adjustments are required to double the slope of the equity curve eight times. Plan on doing it. this is done most satifacotrily by iterative refinement.
  5. Oh, I guess I didn't really make myself clear enough. I've been trading full time for 2 years and will continue to do so. I've gotten to a point where I know what to do and am doing more than well enough trading to be happy. I don't put time in researching at night since I trade almost completely off my filters and most research has never really helped my bottom line. I study how I'm trading for a few hours over the course of the week but for the most part I'm done at 4 everyday and looking to go play basketball with the high school kids at the Y. My fiance is about to start a new job where she'll be working crazy hours for a year and I'm looking for more to do. I helped out a small non profit for a while but they started asking me to give up trading time so I was thinking I'd get either a night course or online masters. It's 75% out of interest, 20% 'Hey, it could help my trading', and 5% resume covering my bases. I hadn't really looked around and was wondering what fields you would be interested in if you were looking around?
  6. Trajan


    I'm working on a Phd in Econ. I decided to do this for a couple of reasons. One is that the job market is very strong. Second, I actually tried to leave trading but found my skills weren't sought after. I returned to trading and decided to get my Phd just in case I wanted to do something else. I think that it is very important that it is something you're interested in.

    That said don't underestimate the time a graduate program can require. I did and my trading suffered. It sounds like your situation is a little different as you don't need to put in as much afterhours work. Overall, I'm pleased that I did what I did. Even if I never complete my degree, I have learned a ton of stats, timeseries, economtrics, modelling and so forth. It's been worth the effort, but I'm cutting back now to focus on trading.
  7. unless you have strong analytical skills you wont enjoy this.