Jack - I have never seen you trade nor have I seen any records of your trade. I HAVE seen the people I profile trade in real time with their actual money. They live very nice lives and provide for their families with their trading. You from everything I've seen on Elite spin nothing but utter BS. The biggest bunch of crap you just spewed was that none of the traders deal in "effectiveness, efficiency or optimization " First of all that not true as several of the traders are programatic in nature, but you statement is pure garbage in its most basic state. If there was one thing I learned in writing the book its that trading is an art not a science. As Chuck Hays - a man who makes more money in one day than you ever made in a lifetime - says, "You cannot engineer a profit. Although everyone starts out trying." And the man is an engineer by training. You can try to optimize trading in the same way you can optimize weather - which is no way at all, since both regimes are constantly changing states of being as they respond to new stimuli Witness the double digit losses of the quant funds on outcomes that were "not supposed to happen". One of those funds (GS) btw is located right upstairs from my office on Wall Street This game is about psychology NOT physics. So get off my thread with your mindless pseudo-philosophical rants. There are thousands of posts on Elite showing you to be fraud. Go practice it somewhere else. This thread is for people who are genuinely interested in knowing what it takes to succeed.
Thanks for your response; I really appreciated it. We certainly agree that it is all about psychology. Regarding weather, I have a passion for sailing, gliding and skiing. someone will send you a T shirt, I'm sure. The weather and its dynamic often separates the winners from the losers when the sports are bing done in a competitive mode. Ask around. Fortunately, I'm an engineer and it is a very rich and deep resource. I am glad that you are in support of those who are genuinely interested in succeeding. There are lots of ways to make money.
Thanks surf I have as much fund reading it as I did writing it, which is rare for me. Any parts you liked in particular?
Depends on the perspective of one's approach. From a personal perspective, I strongly disagree. -kt ps, thanks again Jack ;-)
You live off your girlfriend who has a real job by all accounts and.. THE ONLY TIME YOU WENT ON RECORD YOU LOST 26% IN A TRADING CONTEST
Kt - let me clarify. What I mean is that the game is all about INTERPRETING psychology, not the "rah, rah, feel good" psychology of self improvement gurus. Although you may disagree with that points as well, If so I'd like to know your opinion in more detail of why you think trading has the kind of predictive properties that we assign to physical phenomena.
Hi jbt, The only thing I'm aware of are numbers. Naturally, this also entails the algorithms that manipulate them and their streams for analysis, synthesis, structure of the entire ensemble, and etc. The only art (creativity) involved, is how I determine to best apply this logic (science). Which is actually a scientific approach in itself. Psychology isn't relevant. Also, most every algorithm I apply in my strategies, are very much apart of fundamental mechanical physics. -kt