What was it that you were saying about not making assumptions? I'm taking note of the fact that there are successful day traders while trying to pay great attention to the pool of failures, in order to learn from both. What fool would I be to ignore the successful? They are proof that I'm not 100% delusional. Maybe only 99% delusional, lol. Either way, certainly I should be trying to learn from them as well as the failures.
Empirica bled for a decade and then Spitznagel goes off on his own and hits a homer during the housing crash. Taleb is allergic to making money. Go take his class at Columbia and you'll still be broke. Blocked.
Jeff, you're mission is to become a quantitative synthetic futures speculator! You have the perfect background to do this! Just read my thread https://www.elitetrader.com/et/threads/index-spread-traders.335197/ and make sure you understand ALL of this stuff. And I mean all of it. Forget the dollar cost averaging crap! That's coming straight out of the FA pitch book! The best traders are quants and EE is the best background to have. Chart the PREM! << Then code algos and indicators using TA concepts. SPREAD THE INDEX FUTURES! You have to go ALL THE WAY if you want to do this FOR REAL. First goal is 100k. then 200k and so on. How good were you paying attention in the EE math classes? How good are your programming skills? I know it sounds crazy (it is), but its winner take all in this game. You need to outsmart the competition! Maybe I'm reading too much in to this EE degree, but I bet you are badass at Fourier transforms, integral calculus and probability theory. Just learn this stuff real quick. Weiner Process Black-Scholes The entire Theory of Parameter Estimation!!! (with special consideration of the implications of non-stationary parameters) Keltner Channels Filtrations (all kinds) Convergence Properties of Parameter Estimators (all kinds) Time Series Analysis Screen Time 10000+ hours Some light reading. Market Wizards, Jack Schwager Mathematical Formulas for Economists, Luderer, Bernd, Nollau, Volker, Vetters, Klaus Mathematical statistics with applications, Dennis D. Wackerly How much time have you got? (this is just to get you started)
I would say that it is very possible to grow account to 1M in 12 years. Certainly, it all depends of how much capital you have initially invested and if you have good trading strategy. With solid foundation, I find it very realistic to reach your goal
The way you ask your question is problematic.... Why you assume you can't? in 12 years you can grow your account to more then 1m if you trade with a good system and rules. For a good edge in trading I use Bookmap software. It shows the price action in a heatmap and reveals graphically where are the big hands trading.
Hello @jeffbader. I hope you are doing well bud. Can you update us on your day trading journey? how is it going so far? Did you transition from tradingsim to a real account? Thanks in advance for your help!