I'm using scientist as a term of smart people lol. Now if you are a financial scientist or mathematician at a high high level like the Renaissance fund, and put a team together yeah, that's a different story. Although I'm fairly certain they used fractals, EW and pattern recognition combined with high frequency trading and low fees.
Ok. fair enough. not my life experience. but i also don't "work" for anyone or that much at all really. lol. yeah, i mean totally my point. You point is also a platitude by the same logic and thus not really germane here. Yeah I get all this. The model is trash. Nothing you've said refutes that or anything I've said. I think. Unless I'm misunderstanding what you're saying. I haven't run one myself, that is true. But I have put tons of hours into getting it, with the thought of maybe running one and I found better opportunity elsewhere for my resources.
one thing for sure in this industry is the raw brain power is tier one. very smart, very collaborative, very nice from my small world view. as for diversity, you're from mit or uofc (maybe a sprinkling elsewhere), russian or chinese
You are misunderstanding indeed. It's not trash, in fact, it's completely genius despite it's limitations. Like the old saying goes, "all models are wrong, but some are useful". If you are trading vanilla European options (e.g. options on S&P 500, arguably the biggest option market by volume and by other metrics), Black Scholes is the most useful model. It's assumptions are wrong, but it's easy to grasp the impact of these assumptions and thus it's easy to tweak so it reflects the real world. Try doing that with a stochastic local vol model LOL. There is a big difference between dabbling and doing something full time. I've driven many miles though my life, but I am under no illusion that I am fit to be a race car driver.
I love you all so much.. Favorite group of people to talk sh-t with, but I just can't disagree more. I wonder why my life experience is so different from yall's? That's actually an interesting question.
that's condescending dude. did you investigate being a racecar driver and build out a NASCAR and drive a track for a few years and decide it was too dangerous and that your time is better spent doing other stuff?
I propose a challenge for real. Let's come up with some guidelines and see who can win over 30 days. You using B-S, me whatever I want. I have no clue if I have edge on you, but this would be very valuable for both us and the community.
Huh, what? BS is a pricing and hedging model. I am not exactly sure what the metric for "winning" would be.
I blame you for this... if you hadn't been trolling me all morning i would have seen my bot forgot to set a take profit.. lol. don't worry, just a demo trade. working on a new strategy.