And what is the benefit to the person providing this 'job'? You are only looking at it from the perspective of the job applicant. The person doing the hiring for a position like this needs a reason to do this in the first place. And that was my point. There is NO reason for a wealthy trader to pay some high school dropout 7 bucks an hour and trade their thousands/millions of dollars. Who on Earth would put their trading account into the hand of an incompetent? Any serious, wealthy trader is not going to hire the kid from the local McD's to trade his money and expect the same results as if he was doing the trading. And back to my other point - if you do hire say a college student or college grad, it's simply a matter of time before they walk out with your strategy and their own trading account. There's no realistic benefit(s) for the successful trader to do this when a computer program can do it all the same. Not to mention, through all of this human hiring and firing, you have just created a business entity, tax ramifications, human errors, etc. etc. It's simply not worth it. Hence the reason you do not see ads in the local paper from wealthy traders looking for button pushers to trade their money. Again, it all sounds good in theory. No real practical use however. If there was a real use for this in real life, you could simply hop on monster.com and apply for the job. See?!?!?
Again, not necesserily: 1. What if my system is "slightly" discretional, thus unprogramable? 2. What if I have a niece/nephew whom I want to give a summer job or I want to get them interested in trading? Or I want to teach them selfdiscipline, patience, etc? 3. What if I don't TRUST any programer, because they can walk out on me and STEAL my strategy? 4. What if I just don't trust programs, period?? 5. In case of blackout, a real person actually can call my broker... See??
First of all, wages in India are significantly higher than $1/hour. Try $5-10/hour depending on the city. Second of all, there are certain benefits, monitoring & infrastructure costs to consider. Third of all, the quality of their work is pure crap. And that's how the money is "saved". It's worse quality, not cheaper labor. It's cheaper to decrease the quality here instead of dealing with offshoring issues. But those people who made these decisions and have their bonuses depend on them have to avoid this truth and keep massaging the numbers. Bottom line, you get what you pay for. If you want the right man for the job, pay the right money. Otherwise, even if you hire the right man, he will always be looking to leave you and move up. Loyalty is not free, you know.
1. What if my system is "slightly" discretional, thus unprogramable? A: THEN YOU TRADE IT. WHY PAY SOMEONE TO DO IT FOR YOU? 2. What if I have a niece/nephew whom I want to give a summer job or I want to get them interested in trading? Or I want to teach them selfdiscipline, patience, etc? A: FAMILY IS A COMPLETELY DIFFERENT STORY. 3. What if I don't TRUST any programer, because they can walk out on me and STEAL my strategy? A: IF YOU ARE WORRIED ABOUT THE PROGRAMMER STEALING YOUR STRATEGY, THEN YOU WILL BE WORRIED ABOUT SOME PERSON(S) STEALING YOUR STRATEGY AS WELL; THEREFORE NEGATING THE NEED TO EVEN CONSIDER HIRING SOMEONE. 4. What if I just don't trust programs, period?? A: AGAIN, TRADE IT YOURSELF. 5. In case of blackout, a real person actually can call my broker... A: AGREED. TRADE IT YOURSELF. See?? YOU FAILED TO PROVIDE AN EXAMPLE WHERE A WEALTHY, SUCCESSFUL TRADER WOULD WANT TO DO THIS OUTSIDE OF FAMILY/FRIENDS. SEE MY PREVIOUS POST B/C YOU JUST IGNORED THE POINTS. OF THAT POST, YOU QUOTED ONE SENTENCE AS THE BASIS FOR YOUR REBUTTAL. FEEL FREE TO PERUSE THE REST OF THE POST AS WELL. IT'S SIMPLY NOT WORTH IT TO GO THIS ROUTE TO THE SUCCESSFUL TRADER. IF THIS SETUP WOULD WORK, PEOPLE WOULD BE DOING IT. SINCE THERE'S VERY FEW (IF ANY) SUCCESSFULLY DOING THIS, THAT SHOULD INDICATE THAT THE IDEA IS GREAT ON PAPER BUT COMPLETELY UNREALISTIC IN REAL LIFE (OUTSIDE OF FAMILY).
OP I reviewed your idea and the thread. Then I annotated the thread. here is the summary of the review.
LOL! Is that all? If you can distinguish a "good" signal from a "bad" signal, why have the system at all in between you and raw price action, or any other filter, say a moving average crossover? nitro
Brownsfan! You failed to refute any of my points in my previous post. Typing in Caps is NOT an argument. Report back when you have something to say... And how do you know traders are not doing it? Do you happen to know all traders? And why would a successfull and wealthy trader do it? Because they might have better things to do like having a LIFE instead of trading. I would rather sail or walk my dog than watch a screen with charts on it... P.S.: What if the trader has 5 different strategies and employs 5 different people to trade it instead of having a bunch of monitors and getting a headache?? (diversification)