Here's a song about a mathematics PhD programming computer. Pet Shop Boys; Opportunities (Let's Make Lots of Money) ras72
Very very funny thread. Three good ontributors were: DBPoenix, skataphagos and Handle123. the most off base bsides the OP were: ras72, trade__canada, and commodity trader. formal training is usually the greatest cause of irreversable brain damage . This prevents most from gaining any foothold. The financial industry does not makemoney by trading processes. The FI makes money from commissions and fees. working in the FI is a dull unrewarding slavemanship at best. Copr owners are rich because they conduct sales and marketing campains to acquire capital upon which to charge fees and commissions. I would say that a newbie could learn all that there is to learn in 4 to 6 weeks. One assumption: the newbie would have to have a brain and mind that is not fucked up. below is a list of things that have to be part of the basic unblemished knowledge and skills before beginning. As you read an disagree, then you are just mistaken and you are headed out the exit door from trading. 1, the numeration system is a finite math thing and NOT a continuous function system at all. 2, the market system of operation is a complete finite system with very few parts. 3. all parts are exquisitely defined and each is unique. 4. the basis of the system is human beings. Human psychology is totally consistent and complete and known to the world. most of you will never ever even get into the ball park for trading. Money is involved. most people never get near money or ever use much to do anything at all. since the FI operates on fees and comissions everyone is welcome and the FI doesn't een know how the system of the market's operation even works. In the statistics publications present, the topic of significance is almost completely left out. were it included, then the door on the use of statistics would swing closed. Thus, something replaces probability. In systems analysis it is certainty. In 1. above, the units of the variables make everything certain. I am not continuing this post any further. No one could understand the content it turns out. How can something so huge as the FI not understand variables in a system. In ET mostly everyone processes dependent variable data only. where does a person go to sit in a chair to learn how variables work? and how certainty is the basis of things. did any of you learn multiplication and the probability of getting the correct answer from two multipliers? how probable is 56 when you use 7 and 8 in a look up table? when you read, there is no probability associated with comprehension. you learned and always had crayolas there for making the system the reading created. did anyone here make it to the place where you were told dependent and independent as parts of an equation. Do all equations have only a probablility of working?? did you ever learn to use a system of numeration in an equation?? fuck no . you never found y by plusgging in x's. x leads y because?? Hey, I don't know why. imagine Gloria going to school. she has no memory of anything related to how systems operate. how science works. what math does as a tool of science. she never heard of Keynes (Algorithms of SYSTEMS), Carnap (LOGIC SYSTEMS), or George Boole (Algebra of a SYSTEM of numeration) School works for people who have brains. I got the trader's perfect training (BSEE, MSTW) And I was given Theoretical Physics by IBM to make my orignal thinking more fluid and productive. To trade the system of operation of the markets I use 5 one page look up tables. I take he full offer of any market on any day. I work bar by bar. I throw out all insignifiant data. the independent leading variable dictates the Price the dependent variable. All bar by bar trends have three parts: two ends and one middle. there are onlt a finite number of ends. every end of an ongoing trend is the beginning of the next trend. all middles follow an order of events form one unique market pattern. All of these things come from pieces like on the periodic table in chemistry. each element is defined in Boolean Algebra. All items are 100 percent certain and unique and the table is complete be cause it contains all possibilities. best of all, the human psychology of the markets is totally consistent from the micro cosm to the largest hugest function of econometrics.: diret, indirect, induced and substitution. So everone out there doing their thing always adds up to a supremely consistent system of operation of markets. I do bar by bar and take the full offer of the market every day I trade for 57 years so far. I learned the system of operation of hte markets in 40 days and was doing real trading 20 days into that period. The PC was invented in the later half of those years of trading. I was accused of riminal trading for years by the SEC and the IRS always has an action against me. these are jsut beauracratic dumb fucks wh ohave their heads up their asses. So far they have withdrawn their fucked up assertions for the wrong reasons. So I am 81 now. I worked for 5 years at IBM. then I had a lifetime of FREEDOM. I got past v 8's in the late 80's; I like the fuel injected V 12 for purring down the interstates. I flew a GROB 109 (used to). I set the handicap rules for the NY Yacht club in the late 60's. I was a pro ski instructor in switzerland during the 6 days war between isreal and egypt. I was at EOP for four diff Pres's. I am a member of the Green Mafia (Justice Doulgas's designation for the EIS of NEPA.) prior t that I did the redlining of LP 92-500. I also took the lead out of gasoline by replacing it with Al K Hol (one of my other EOP nicknames) My marriages took laps from the 20s to the late 30's fine ages for women to be. Now I am breaking the 50 barrier. All it is is 5 pages of look up tables. OOE'sentwine to make a system of operation forthe market. all markets are the same....whoa........
FI makes money from commission but that is not all they do. Just look at how big % few groups control in all kind of markets would let you know few main financial power try to win money from each other is the main games. Psychology is not a big deal since market big or small movememts are not decided by random crowds. For example, gold starting price everyday is decided by 5 FI everyday. They dont juat try to win commission when they could know ahead.
haha. very funny. yes look at the price ladder and see the limit orders there. Notice when the ladder BBid/BAsk changes. Notice all that time when it isn't changing. ha ha . It changes cos the minority goes to zero. the big giant majority keeps the price right where it is. add up the five on each side of the ladder. which side causes the price to move five pips or ticks or cents?? the side with the smallest sum does. You never see me on the book . LOL I'm alwaysin the fast lane taking the full offer. those big five you speak of make a bout 20 to 80% a year. I make 20% in a few hours. Often the full range for the day is hit within and 1 1/2 of open. I make that range in less than that time. usually the market turns three times when getting to the opening range. there are only 35 kind of turns. I trade on each turn Pulling the whole segment of profit between each turn. before the PC, we read the tape to do it. you ID a turn by its name, you take the profit segment. I do hold and reversal trading. I am holding all the time except when a name of a turn is written on a bar. the name says one thing only: REVERSE. reverse is two things: taking profits and getting in on the correct side of the market. you do the UP/DOWN bullshit. I do dominant non dominant trades. the market moves RIGHT to LEFT in a dominant modus. and vice versa. A turn is what ends all trends. All turns have names that are unique and the list is COMPLETE. algebra defines, uniquely, each type of turn. Take a simple one of the turns. PP1 is the name. it is a bar on which the third peak (P1) occurs AND on which all three P1's show a relative acceration of P1's. You can't even read a scientific statement in Relative DataBase Management System (RDBMS) terms. I was trading this way in 1957 and RDBMS came into being after real time computing appeared to be possible. You have a goldstory and you say 5 large outfits control gold's happenings and they make more than fees and comissions. I just a parasite of this stuff. I am making the full offer of the market daily. This is the 20% in an hour and 1/2. the market follows a system of operation. the independent vriable leads the dependent variable (Price). The leading variable of price tells anyone NOW what will happen in Price as the future moves into the Present. A P1 happens. then later in trend another P1 happens. This sets the market velocity. i sit there and make the offer that is unfolding. then I see a new bar which could be the third P1. as the 300 seconds go by, I KNOW WITH 100% certainty that this P1 is accelerating. a deep knowledge of Arithmetic is required to determine this. as the bar reches its most favorable extreme during the bar I do a market order of twice my held contracts this is an instantaneous exit and a subsequent opposite re entry. It think in 10to 100 millisecond decision making that is all go no go where I know all values in advance by Arithmetic. Naturally I can zip off the 34 other turn types just from memory and bars in advance of their possible occurrance. lets take a look at that PP1 more closely. I do. If it is a dominant coming to an end, I judge whether it begins a retratce or a revesal of the next adjacent slower frctal trending. If it is merely a retrace I may "hold thru" and omit the next non dom to dom reversal and just take the slower fractal full offer and save four commissions on two reversals. why pay chicken feed to the FI if I don't need to. Lets say you consider becoming a trader. you look over a lot of stuff. you come to the chapters on "knowing what you do not know". here you are totally fucked. you have found out you do not know anything earleir. Now you are looking to find out what you do not know you do not know. This is a very much longer list. i was an Adjunct Prof at a philadelphia school called Wharton. attendees got in through filtering. they moved forward through a more severe filter called doing graded work. They graduate and go to work in the FI which doesn't know anything about how the system of operation of the markets work. you are considering trading in world run by wharton type graduates and theoretical physists. you get to considering what you don't know what you don't know. there are 35 types of uniquely defined turns. Using these gives the trader a return that is a mulitple of the dialy range. You are a typical person who can consider trading. As EMG pointed out to you, you are going to lose. a very few people who make money can expain exectly how they do it. and have absolutely NO FEAR of anyone ever competeing with them. You will never ever even see a PP1 type turn in your lifetime. FYI last week they occurred on the ES 5 min on the following bars: monday: 47; tuesday 26, 66; weds none; thurs 68 and 75 aand Fri 38 and 72.
Not at the graduate levels. At the graduate levels, you study real problems - often that haven't been solved by ANYONE yet, especially at the PhD level where your dissertation is on original research. It's the primary reason PhD's are sought after on Wall Street. They have demonstrated working in an environment where the right answer isn't known by anyone before them.
For a trader or analyst - Trader, stats or coding of sorts. Analyst, engineering. MBA is a waste of your time unless you are going iBanking
PWelcome to show transaction records instead of telling subjective stories without any stats or proof.
In addition to the degrees you mentioned above, you may also want to consider financial certifications. For example, the CFA (Chartered Financial Analyst) certification is well recognized in the financial industry. In fact, many fund managers and portfolio managers are CFA charterholders. -- <a href="http://www.optionstack.com"> Best Options Analyzer Software </a>
Yes it is considered the gold standard in the investment industry, but I have found it to be completely useless to help you in becoming a better trader. Just a good cert to land your foot in the door.