Advice to a newbie

[Spitfire]

Quote from Dr. Trader:

Thanx for the good information on books. Much appreciated.

What do you fellows have against an MBA? I worked damn hard to get it, and i'm proud of it. And now I'd like to learn about trading stocks. What's the biggie?

I missed this post - sorry.

The biggie is just that to really really really really really trade in the markets, you have to let go to the extent that you really just don't exist anymore, and that you and the market are one. If you are still preening yourself over your MBA, you will find this state of affairs somewhat tricky. By the way, you should be proud of it. That is not the point though. Re read the thread from the beggining. If you ask a decent question, this is the place to get a really really good answer.

Have a really really really nice day.

 

[Dr. Trader]

Quote from Spitfire:

In another life, were you part of the Mothers against Canada ?- I bet you hate Terrance and Philips don't you.

This thread is about "advice to a new trader". I was asking about books, and the information given so far has been useful.

Please don't sully this thread with trashy garbage. I'm trying to learn, and I don't appreciate your inane remarks.

 

[BundMaster]

Quote from Dr. Trader:

I don't "imagine" that at all. Quite the contrary. That's why I started a thread under the title "advice to a newbie". While I am proud that I attained an MBA, and you would be too if you went through what I did, I do not connect an MBA to being an able trader at all.

With stock trading, i'm looking to start from scratch, which is where I am. The MBA simply shows my resolve to attain my goals, and my recent goal is to learn about trading.

Isn't an MBA enough?Why don't you get a nice high paying job and leave the hair-pulling,high stress stuff to us ignorant slobs.

 

[Oldtimer]

Those of you who attended last night's chat on Prop trading heard the perspective of a very successful trader, who never finished college.

His take was that the traits that make up a good trader aren't specifically quantifiable. Beyond the commitment the Dr. put into the MBA (commitment being one aspect that IS necessary and quantifiable), some MBA's make good traders, and some HS dropouts make good traders.

I guess what I am trying to say (taking into consideration precisely why the Dr. mentioned his MB A in the first place), is that, although the serious responses all made good points, the fact is that postulating about someone not making it as a trader because they have an MBA is as wrong as saying the reverse.

The degree doesn't trade the market....neither does the lack of one.

Having said all that, I have no discussion material on the relative size of Spitfire's member. I really really really hope it doesn't divert bloodflow and hamper his ability to become one with the markets

OT

 

[Spitfire]

Quote from caplan8293:

I myself have an MBA, and here is what I have gathered from reading this board:



2. Perhaps people on this board are just a *little* jealous and feel that they can make themselves feel better by giving people with more education than them a hard time.

I will now step back and prepare for the flames I am about to receive.

Hmmmmmm.

!. Define education.
2. Presupposition of the unknown - interesting
3. actually, if it makes them feel better, is that not a good thing?
4. Particularly since your superior education and intellect allows you to understand our weaknesses better than we are able, and with your understanding and benevolence you are helping us, and thus we are helping you.

Spot the change in the subjective.

Bring on the superior beings please.

 

[qwiktrade]

Quote from caplan8293:

I myself have an MBA, and here is what I have gathered from reading this board:

1. Many people with MBA's feel that because of their background they will have a better chance of being a successful trader. That is absolutely not the case and may actually be the opposite.

2. Perhaps people on this board are just a *little* jealous and feel that they can make themselves feel better by giving people with more education than them a hard time.

I will now step back and prepare for the flames I am about to receive.

I admire people who are willing to jump through the hoops necessary to succeed in college. An MBA is a fantastic achievement and a valuable tool for succeeding in many types of businesses..

I personally made the choice not to pursue a college education. Its funny to me how those who did earn degrees sometimes assume that those who choose other options are somehow "jealous". I do not want an MBA because the opportunities that it would open up dont interest me. If I did, I would enroll in college and begin working toward that end.

What I do find silly is how some with a high level of education just assume that their degree somehow makes them superior in areas outside their expertise compared to those with no formal schooling.

-qwik

 

[Dr. Trader]

Quote from Spitfire:

Come come Newbie

Firstly, you are being given some serious advice if only you could see that. Second, this is an open forum, and there may be some of us that like to have a bit of banter with those we recognise. Third, and I quote, 'trashy garbage' ? Trashy Garbage. Forgot to go to the English classes?

I'll say it again - re read the thread and the advice.

as for books, try ROASO

I already thanked those for the quality advice. I can see it.

No, I took the English classes. "Trashy garbage": oxymoron.

I like to have a bit of banter as well. Although i'm quite certain you don't recognise anything, except something in your imagination.

 

[caplan8293]

Quote from qwiktrade:

What I do find silly is how some with a high level of education just assume that their degree somehow makes them superior in areas outside their expertise compared to those with no formal schooling.

-qwik [/B]

Fair enough.

 

[Dr. Trader]

Quote from qwiktrade:

What I do find silly is how some with a high level of education just assume that their degree somehow makes them superior in areas outside their expertise compared to those with no formal schooling.

-qwik

I never said anything even remotely close to this statement. Actually, I asked for advice to a "newbie" in trading.

But I am still proud of my MBA, despite what's said here.

 

[caplan8293]

Quote from Dr. Trader:

I never said anything even remotely close to this statement. Actually, I asked for advice to a "newbie" in trading.

He was talking about something I said, which I probably should have worded more carefully...