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This is a dangerous assumption. Wages have not kept up with inflation in the US and I suspect if we kick into a hyper-inflationary environment wages will not keep up with the rate of hyper-inflation. Even the FED is concerned about the rate of inflation to ensure it doesn't hit an extreme...

A truly profound statement. Expect 95% of ET to take issue with this statement but you're spot on. Although, even a true quant needs to have that artistic, touchy, feely, not necessarily visual, quality to successfully navigate the markets. Brut science will eventually fail. All things...

You're asking me to take a 2 min project and spend hours or days to provide you with a chart of 15+ min's? Could I do it? Yes. Will I? No. Take it for what it's worth -- 2 min's of work and a bit of fun.

Bravo PL! FWIW, this is the program I attended a ways back. When I was enrolled in the program it was rooted in finance - i.e. the Random Walk was widely accepted. Since then, the program has become based in mathematics and the Random Walk Theory is being questioned. When I was there the...

Now that's something I would agree with. The market is nothing more than data. When I began trading I fought the Random Walk Theory tooth and nail because I thought if the markets really were random they couldn't be traded but the opposite is actually true. Another poster noted there is a big...

Another one with an S&P downgrade :D Edit: Gurus would be talking about 980 support around data point 631

Attached is a very, very basic Monte Carlo Simulation. This simulation is based on the assumption that there are three possible outcomes on the next tick: +1, -1, or 0, meaning, the market will trade 1 tick above or below the previous tick or it will be a flat tick. Naturally, this doesn't...

So you mean to say the degree of randomness in the markets is zero? Your position that people with "habits" and "trading styles" interacting with each other suggests the markets aren't random is heavily flawed. Trader 1 uses a MACD crossover, T2 uses a histogram divergence, T3 uses breakouts...

You can develop a very simple simulation like this using excel. Just use the rand function with a tick size of 1 with three possible outcomes: -1, 0, +1. Start with a number such as 1000 and add a sequence of something like 10,000 outputs and pull up a chart. Throw a 9 period and 26 period...

My entire Master's Degree -- Statistical Finance -- is based on the premise that the markets is one gigantic random number generator and 95% of the tools I use are statistical in nature but at the same time, I've stood toe to toe with traders who have come to the industry with backgrounds from...

I agree completely. I've seen a lot of people jump from their BA/BS to an MBA and try and find a job afterwards with very little luck. An MBA with no experience in this job market == one very expensive useless degree. Job experience is absolutely necessary before and MBA. In fact, most...

We have the highest per capita prison rate in the world. Lock 'em up and throw away the key -- it creates lots and lots of jobs.

By chance, are you self-employed? If so, you have many options. If not, you have very few.

BAC will be the next to do a 1:10 split.

They will when it comes to a neighborhood near them. This will happen in the near future in the US.

That's funny OT. Since when do human beings think and act rationally? Shit, we're only about 100k DNA pairs from being chimps :D

Exactly. The government should turn around and downgrade S&P to idiot status.

Research the velocity of money. When it stays consistently below 1 the Fed could pump a gazillion dollars into the economy and it would have absolutely no effect other than making the banking system much, much richer.

If you decided to jump ship I don't think they could stop you from trading your own account from home. The biggest thing they don't want you doing is sharing trade secrets with the competition. I would do the same thing if I ran a Prop Shop. A buddy of mine was trading Prop about a year or...

The $1200 was charged against you regardless of whether you were profitable or not and it accumulated from month to month like trading losses would. The contract didn't specify that I had work there for any specific length of time but it did say that if I were fired with or without cause, or...