so what? there are lots of hard working businessmen who fail in EVERY type of business again, there is no statistically possible way that given thousands of trades a year, a trader could be successful year after year. ESPECIALLY considering commissions/slippage. do the math don't factor the # of tradersl. factor the # of traders TIMES the # of trades. you will see that by randomness, you are looking at a MUCH smaller # of successful traders. way less than 1 in 1000
PhDs are overrated. there is nothing you can do for your doctorate that you cant do in the private sector and actually get significant funding for the research. the catch is only people with something to offer get the private sector research jobs. have fun paying for your letters
Whitless Wonders love to hold on to their pet theories, absent a mountain of evidence to the contrary. it's called "cognitive dissonance". they can hide behind their aliases and pontificate on markets, when they don't really understand the market half as well as your average successful trader. Oh, yeah, you left James Simons, Ed Thorp, Bruce Kovner and D. E. Shaw off your list, which isn't surprising since reductio ad absurdum is your specialty. And Eric Bolling as a great trader!!?? Obviously you've never been a floor trader or you'd know how money is really made there.
People on both sides of the fence should take a chill pill and relax a little bit. The great thing about the market is that it will give you instant validation of whether you are up to snuff. If you are right, you make money. If you are wrong, you lose money. It is really that simple. You can make more sophisticated and complex bets as you learn more, but it still comes down to making or losing money. Predict a three sigma event ahead of time, play it right, and you're a freaking genius. The guy on the other side of the trade, however, was a moron. Now, in general, smart people tend to get PhD's, MD's and JD's. Doesn't mean that they make good traders because of those degrees. Just means that they were able to complete that course of study, and in fairness, it takes a good bit of work and some underlying smarts to get selected for the program. But that's it. Want to know what you are made of? Enter the market. You'll find out real fast.
Seriously, You WILL never make it in this trading environment. for the following reasons; 1. TOOOOOOO COCKY. 2. You are Way behind the crowd(the excuse of a PhD to trade a hedge fund that was figured out at least 10 yrs ago and to my knowledge most hedgies dont hire financial guys or at the least cocky assholes. 3. Ive been in the mkt as a professional trader over 10 yrs, trained PHD's from "elite" schools and yes I am talking about MIT,Yale,Harvard etc.....and nothing special. They couldn't figure out "but I did the analysis and why didn't it work out?". 4. Im back in grad school myself for Quant and they are not teaching anything that is not already established in the trading world. 5. How do you know how you are going to react when you wake up and down 2 million---hint you dont until it happens!!! But then again you did the study and it ALWAYS works out.... 6. You are an idiot!!!!!! Seriously if you would love to talk send me a P.M. because you really need to get your ego in line
This thread is pointless besides the fact that your a complete stuck up ignorant ass. You are so laughable it's not even funny! OOOOH, I have a PHD So, I am the smartest. Oh no! If we don't have a PHD... we are all going to be losers in the market. Save it and talk about it among the rest of your cash wasting small minded friends. If you new the first thing about "Capital" you wouldn't be wasting all your money on an education you can get from the local library. Welcome to the game and I hope you enjoy the punches to the mouth.