Almost everyone is lying. Because there's no such...

[padutrader]

Like all things in life - in takes capability and a tremendous investment in time and effort.

yep

 

[ironchef]

Short of the downright illegal (like insider trading) - there is no singular "way" or method to make money consistently trading markets.

I happen to prefer spread trading for client work because from my experience it tends to be more consistent over protracted periods of time with a wide range of personality types - but I will be the first to say that day trading and swing trading can also be consistent and profitable.

And you can't buy your way into successful trading. Getting an MBA or Financial Engineering Minor won't make you a good trader. Taking a trading course or hiring a training consultant won't make you a good trader. I have seen proprietary trading firms train traders in classrooms on very specific trading systems (Goldenberg Heymeyer in Chicago) - and despite it all the successful cadets were very much in the minority. It takes hard work, an affinity for calculated risk, and some extent some "art". If it was strictly math - then every PhD in Math or Physics would be trading markets (and that is clearly not the case).

Like all things in life - in takes capability and a tremendous investment in time and effort.

Well, what about the turtles?

 

[bone]

Well, what about the turtles?

What about “the turtles” - they weren’t the only ones making money trading in the ‘70’s and early ‘80’s.

 

[ironchef]

What about “the turtles” - they weren’t the only ones making money trading in the ‘70’s and early ‘80’s.

They didn't start out as successful traders but were trained to trade successfully by Richard Dennis and you said traders could not be trained.

 

[bone]

Exactly what I said was that trading takes some measure of innate art and ability and a tremendous personal investment in time and effort

They didn't start out as successful traders but were trained to trade successfully by Richard Dennis and you said traders could not be trained.

 

[Overnight]

...trading takes some measure of innate art and ability and a tremendous personal investment in time and effort

And a little bit of bug-eyed glare from Grace Slick, as well. You, bone, did not get to where you are without a trip down a rabbit hole of mental insanity trying to figure it all out. Nothing to be ashamed of, as you study the literal thousands of spread combinations out there.

 

[expiated]

They didn't start out as successful traders but were trained to trade successfully by Richard Dennis and you said traders could not be trained.

I've read that Dennis received submission from over 1000 applicants, from which he interviewed only 80, which he culled down to 10, who became 13 after he added three people he already knew, suggesting to me that he might well have been looking for individuals who already had some measure of capability and a willingness to work hard, like the top 1.3%.

 

[ironchef]

I've read that Dennis received submission from over 1000 applicants, from which he interviewed only 80, which he culled down to 10, who became 13 after he added three people he already knew, suggesting to me that he might well have been looking for individuals who already had some measure of capability and a willingness to work hard, like the top 1.3%.

But but but... All 13 were very successful and made tons of money. What that tells me is the success is not in the selection but in his trading system.

 

[expiated]

What that tells me is the success is not in the selection but in his trading system.

...or both (otherwise he would have skipped the interview process and simply selected people at random).

 

[931]

But there were always bug in the system. Failed tens of hundreds of times.

I can relate to that, 6+ years in that path.


At beginning i had multiple "profit increasing" bugs , as i coded everything from zero, including strategy tester.
Developing visualization tools and tests helped to eliminate harder to find bugs faster.

I have not learnt university level data mining or data science before, but considering it now.
It might have allowed for alot of strange ideas that dont get taught.
Some very inefficient and memory/resource demanding.


If spreads were lower it would be goldmine.
But edges narrow up almost entirely if considering realistic trading costs.