logical fallacies on et, say it ain't so, personally I appreciate all these billionaire hedge fund managers stopping in to give us their priceless advice....
I should note that the notable exception to this is any post by Jack Hershey. Perhaps he has the 200 IQ and that's why I don't understand him. They are also way too long so I just ignore them.
If you want to do trading on a Mathematical basis, the logical conclusion is to learn how to program. My last post. This thread is a like train wreck that never ends.
And who gonna teach him to trade?. Maybe i´m wrong, but isn´t supposed that to program an algo you first need to have an already profitable strategy?.
This is like the mafia... you think you are out and they suck you back in. First you need to learn to program. Then you at least have a useful (though somewhat commoditzed) skill you can offer to someone who knows how to trade with algos etc.
Except for the losing traders who simply use blind faith, don't all traders use mathematical principals? Some prefer to use recall and their mathematical intuition. Others prefer to write complex mathematical algorithms using more precise data. Correct me if I'm wrong though.
No. And there is a big divide between blind faith and mathematical principles. And clearly using math (unless your brain is faster than a computer) requires effective programming. You don't really understand the industry you want to enter and there is a plethora of knowledge out there on the internet and in pretty easy to read and interesting books. You need to do this research so you know what are getting into and what you can do. My advice (and I promise I close this forever after this) is to continue with your coursework at Fairfield. Learn more about trading. Get involved in their trading floor program. Read all the books you can find on trading (the culture, stories, and technical). Open a brokerage account and start trading yourself. Learn programming and develop some algos (even if they don't work, its okay). Talk to other traders via this website, etc. And in 2 years with a masters degree, a strong knowledge of the industry, some personal experience and a clear demonstrated desire for the industry reapply. Btw - firms like susq and jane street and the banks take recruiting seriously. often you only get one shot to impress them and then you go into their "never speak to again database"
you and a few others have given him some good advice, I take issue with the idea that only Harvard grads can trade, its bs and patently absurd. see Enron, LTCM, LEH, Bear Stearns, and recently MF Global and JPM. No doubt the industry has moved toward a more math oriented quant style and getting a real prop job in the industry is tough, but as you said that is not the only door into the mkt. It bothers me that new people come on et and think that everyone who is posting here knows all things trading wise, people need to discern what is true and what is bs. I appreciate guys like you and Atticus that are legit, but these new guys are unable to discern who is for real.
You just went Jack Hershey on me. I never said that an Ivy grad would have the mentality and attitude for trading.
There is hope for you. You caught on early. Impressive. I think I figured out why J. Hershey writes the way he writes. He is trying to compensate for something at the expense of the reader. Not cool.