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Dont' let people discourage you. At the large fund I worked with, typical MBAs that we hired as starting analyst or junior portfolio manager start out at $75K + yearend bonus, which could easily end up over $100K. Not bad for starting out and knowing NOTHING about the business. In the...

InTheZone, I was just thinking of that myself! WEIRD!! I mean not buying a book, but just something like that going back as far as possible. But I guess it's equivalent to computer backtesting 10yrs of data or whatever. good luck! 99

mrmarket, Congrats on your great stock picks. But I think it's still a bit arrogant and PREMATURE to announce you are the best stock picker in the world. Do you mean to say you rivaled all the Market Wizards that ever lived? 20 consecutive trades might sound impressive but not as impressive...

luojun, Hey. It's a start. Given that you are in b-school, why don't you apply for summer internship at various investment banks and large buy side money management firms? When I was in school, these places came on campus to recruit MBA, Phds, and undergrad students. If you do a good...

theplumber, In some loose sense, all of trading or speculation is "anticipation" which can be interpreted as predictions. But I like to think of it as making "rational bets" all day long. It's like counting cards. You don't know what you'll be dealt with but given the situation you have a...

I shorted some more!!! OH YEAH!! Come to daddy!!!

I mean you guys are missing the point of trading. I don't do prediction. I just don't. Because, wtf? I'm not GOD! I'm just a trader. Who knows what will happen next? When the right conditions come to short, then I'll SHORT the hell out of it. When the right conditions come for long, I LONG...

HAHA! LOL! This is hilarious! As Ed Seykota like to say you must rely on INTUITION not INTO-WISHING! haha. That's what gets peopel into trouble

I was poised to short today after reading all this bullish stuff. Then when that report came out it was just water pushing through a dam. I kept shorting and adding and shorting all day! This is freakin awesome!! At one point, I had close to 30 YM contracts short. Unfortunately, I covered...

This is so ridiculous I can't even begin to say it. Maybe he's good. Maybe he's not. But it's just PLAIN ridiculous that for $20K and 1wk, he will somehow IMPART to you all the "SECRETS" of trading and make you a pro. And the thing is EVEN IF he is a pro and has an audited track record I...

No, I'm not 22. I'm actually in my late 20s. But these last 1.85yrs of prop trading has aged and wised me up beyond my years. Gained certain depth and appreciation for market more than the previous 5-6yrs working in institutional jobs. But, I'm getting a hang of it. I think I'll be banging...

Whatever dude!! ROFL!!

chessman, thanks! That's pretty interesting stuff. If you read Monroe Trout, mainly a systematic trader, in Market Wizard then he said that even though he trades off the signals from his system, he also used nonquantifiable cues like noise level of trading floor etc etc. Anyhow, though I...

yeah. you got a good point here. I know it's a very romantic ideal to persevere in the face of challenges and danger and best of all to win and conquer it all. But you have to be REALISTIC and have a PLAN. The way I see it is this. There are 3 ways you can approach this problem: 1) Quit...

Yep, I should have stayed in my ZB trades longer. Instead I was eating tons of losses on stupid options positions. If I had the guts, I could have double up on ZB contracts and rode it all the way up to make up the losses on my options. But i was thinking,"Today is NOT the day to bet big when...

"SunGard Buys Reech Capital posted on Monday 2 Jun 2003 01:02 PDT From eFinancial News (subscription required) eFinancialNews reports in a move to gain ground in the hedge fund market, US-based SunGard is buying Reech Capital, a risk management specialist. SunGard’s...

I would be glad if I was just down $80! Gosh, I'm down many multiples of that. But I know I'll make it back because I can. Right now, it's a pain in the ass though to think about it. So, what did you lose on? I traded the future as well and made back some. Should have held longer on my long...

Caxton, Renaissance Boost Management and Performance Fees posted on Thursday 21 Nov 2002 01:17 PST Bloomberg reports Caxton Corp. and Renaissance Technologies Corp., two of the world's largest and top-performing hedge fund companies, are increasing the fees they charge as...

"Caxton Associates Emerges as Largest Fund in the World posted on Monday 2 Jun 2003 01:19 PDT Caxton Associates, run by Bruce Kovner, emerged as the biggest fund in the world with assets of $10.5 billion, according to a survey by Absolute Return published by HedgeFund...

I think we all know that markets are HEAVILY INEFFICIENT! But I think the other point is how can you arbitrage or make money out of that inefficiencies? And that's not such an obvious answer. So, I think academics CONFUSED between the difficulty of figuring out a nonlinear chaotic process...