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Well, Jim Clarke got a Phd and was professor at Stanford in computer science. A few people mentioned it. The rest are true dropouts. But noticed how long ago that was. Almost a century ago. I wonder if the same level of success can be achieved today without some kind of formal education...

Freedom, Perhaps in an abstract sense, graduate schooling instill discipline of the academic variety. But, I think in trading, we are talking of a DIFFERENT kind of discipline. It's called EMOTIONAL DISCIPLINE. Emotional discipline is way way harder to master than any normal skills...

HAHA! You are funny! I'm an ex-quant though. I like trading more the pure academic meanderings of the quant world... haha

ET Members, I don't know why you guys all rattled up about this guy? He's new to trading and probably hasn't experienced any major disaster yet. So, just let him be. Sure, he's good academically. But a lot of people are. But great trading comes from a lot of experience and lots of...

riskreward, MFE is a good degree. But what you do afterwrd depends on the job market. You'll get a decent salary and build quant models or decision support. Trading maybe.. good luck! the programs at Cal and CMU are very competitive! trader99

Freedom, Well, congrats on your acceptance to Oxford. Oxford has a good math program. Perhaps, I can speak a little bit about your situation. I went to a top Ivy League school here in the US. I have worked on both sell-side and buy side institutions during portfolio management, trading, and...

You are kidding me?! You said Trade-Ideas actually alert when it started going down?!! DOH! I would have liked the 5pts ride down for a few thousands shares. Then flip fof the 3pts up ride. DOH!!! Socal, how do you find that? What's the settings?? I might try this product out!

alfie, Yeah, I usually FOLLOW the trend. Just for this BLL, I thought it was OVERDONE or OVERSOLD, which is a very very dangerous word! Haha. It mean it would only need to go down another 50 cents to $1 and I would be FORCED to get out and wiped a few grand and be done for the day. So, I...

Anyone in this crazy stock?!! Down over 5 pts then rebound back 3pts! I didn't see it when it was going down. But I got in long at the low print of 46.25. Got out too soon! Didn't know it was going to get squeezed like that!! Ack. Follow the trend! Stay in winner longer! I got a $1 out of...

Damn it! It's down to 117-13 for the Sept . The Jun is 118-23 now. This is the last bit of it though. Got out most of it around 121+. Get out or stay in guys?

Oh, I see. So, you found the Holy Grail of Trading. hehe. I think those stats are possible but highly unlikely to be continued if you SCALE it up. Things become harder to get in and out once you get to 8 and 9 figures asset. If you are good you can double $1M easily or even $10M. At $100M it...

thanks BondTrader. hehe. Excuse for the academic/quant ranting. hehe. Just trying to explain the job market of quants as it is. So, are you still do prop trading or are you at an institutional desk now? -t

Yep. That's the implicit assumption. I mean, in the grand scheme of intellectual thoughts and academic thinking, programming is NOT that high up in the ladder. I mean if you went to a good school or as smart as you claim you are then you should be able to program. And if you DON'T know how to...

Hell yeah!!! Programming is like lingua franca in the quant world. Not being able to program is like being illiterate. It's like you can't even speak the basic language of the field. The other language is mathematics and quant finance. It's like the basic language of everything. I think...

Well, let me try to answer this. I was an ex-quant/trader before doing prop trading. This is how Wall St or big hedge funds or pure quant trading firms view trading. The actual activity of "trading" like hitting bids or offers or whatever is NOT looked upon very highly. It's considered very...

Natalie, Pretty funny one with the Chicken coming back as a fox! But probably true. Kinda like Neo in the Matrix. He has to "die" then come back to realize he's the ONE! Hopefully, us traders don't have to die and reincarnate to become great traders! LOL! But in some sense, that's what...

One way to maintain discipline is to play mind tricks to yourself. Motivate yourself to do certain things by reward and punish or whatever. There are many ways to coerce yourself into doing certain things. And after a while, it becomes a habit. Then the discipline becomes second nature...

Natalie, I think you are right. Success in life is about applying a few simple and sometimes OK ideas(doesn't have to be that great or good even) correctly. And how does one do that? It requires discipline. Like people on diet. They know they shouldn't eat bad stuff but they end up doing...

Yep, Harry! I have a few pretty decent trading rules. But the problem sometimes is that I don't' follow them religiously. I divert from the plan. If I only took those trades and NOTHING else over time I think I would do fine. Initially, these other sidetracked trades costed me dearly. Now, I...

Well, that's why you do PROPER position sizing. For example, sometime I have a few thousands shares on or load up various futures contracts and the market doesn' t behave the way I thought it would, I began to slowly bail out. I bail out even before the market goes bad! I bail more than half of...