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I don't think I ever put in 18 hrs in one day but the number of hours over the course of many years is very very many. I'm not sure I would have ever been able to craft my current system without serious dedication and hard work. It would have been easy to throw in the towel after the first few...

Some firms allow you to take the series 7 and, when you pass, you get a waiver that automatically gives you the series 56 as well, without having to take it. Of course, the 7 is a much longer exam but it's still good to have that license.

A perfect thread for August trading, although today saw some nice directional moves (SPY)

I just asked him via email and he responded that his equities group is through WTS but that his forex trading is not. It's through an account not affiliated with the firm. And his strategies are based on his own ideas, not learned through working at WTS. He was a technicals guy in equities so...

For what it is worth, I have a friend at WTS who runs an equities group but who trades forex himself. He's a pure technicals guy and has been consistently profitable trading this way for many years now. He was also an excellent equities trader back in the day too. Although forex is his focus now.

Most traders of ANY market typically lose so this isn't really saying much in my opinion.

Excellent and lucid post as usual, NoDoji.

Glad to hear that the automation was successful.

Sarcasm?

I was just at the WTS office in Union Sq NYC last week. They do have access to liquidity that perhaps other firms don't but guys that I saw there were certainly trading via charts and price action. I know they also have rebate traders there too.

Bwol, I just meant I used it as a starting point or template. From there I used pieces and then added a whole slew of my own precise rules. But yes, I know volume is a big part of his method and I don't use it at all.

I used the Hershey approach as a starting template for my current algorithmic project but I eliminated volume from the equation as I just couldn't get it to work for me. And then essentially added my own touches and nuances. I'm very happy with what I've come up with. Now I have a solid...

Couldn't agree more. Very well stated, NoDoji.

I'm in touch with someone at WTS because they can responsor me for the series 7, which is a valuable license to have.

Thanks for the vote of confidence.

Thanks Marketsurfer, I'm actually in contact with WTS in NYC, a friend of mine runs a group there. Thanks for the Boston tip, though.

Wow, thank you for the kind words!

True but the wife hates LA. Still, depending on the opportunity presented to me, I'm sure she'd be open.

I would be very open to move but my wife works in NYC, all the voice-over studios and employers are here (or in LA). And she makes quite a bit of money so asking her to give that up is not really an option unfortunately. I have to be in NYC or surrounding areas for a bit.

Unfortunately I don't.