Some excellent advice has already been given in this thread, so I will try to keep my input short and sweet.
I would urge you to disconnect yourself from all scribblings in the public domain. They will only serve to pollute your mind during the early stages of the learning process. Later in your education you may find it beneficial to reacquaint yourself with the material freely available to the public so that you can exploit those that use it. You will be taking the other side of their trades.
If you have the technical talent then I strongly suggest that you code up all your trading operations into a fully automated suite of applications. Buy a chunk of data for your chosen initial market from somewhere like CME DataMine and start your journey. That way you will be able to assess the validity of your market models with absolute objectivity. If you are successful in your venture it will also allow you to easily scale out your operations across multiple instruments as your capital grows.
There is no need to employ complex statistical modelling. As an example, the algos I have developed use nothing more complex that high school mathematics. Once understood, the dynamics of supply and demand are intrinsically fairly simple. Whilst some quant funds do successfully employ very complex models there is certainly no absolute requirement to do so.
Very wise. I have found that there is nothing to be gained from discussing trading with anyone who is not as absorbed by the markets as you must be in order to succeed. I genuinely believe that isolating yourself from any market related discussion with others is the best way to start the journey. That way you can clear your mind of any distractions and start to focus on the important questions. If you are to succeed then rationality and common sense will lead you in the correct direction.
If it gives you any confidence, I was in a similar position to yourself a few years ago. After dicking around in the markets for a while I decided to dedicate myself to a prolonged period of full time research. I saved enough money to support my family for at least three years and we lived frugally whilst I spent the best part of two years at a desk by myself figuring out how the markets function and developing a system to fully exploit them. I initially funded a futures account with just $30k and have since grown that by nearly two orders of magnitude.
It is possible, but only if you are prepared to make the effort required.
Good luck!
I would urge you to disconnect yourself from all scribblings in the public domain. They will only serve to pollute your mind during the early stages of the learning process. Later in your education you may find it beneficial to reacquaint yourself with the material freely available to the public so that you can exploit those that use it. You will be taking the other side of their trades.
If you have the technical talent then I strongly suggest that you code up all your trading operations into a fully automated suite of applications. Buy a chunk of data for your chosen initial market from somewhere like CME DataMine and start your journey. That way you will be able to assess the validity of your market models with absolute objectivity. If you are successful in your venture it will also allow you to easily scale out your operations across multiple instruments as your capital grows.
There is no need to employ complex statistical modelling. As an example, the algos I have developed use nothing more complex that high school mathematics. Once understood, the dynamics of supply and demand are intrinsically fairly simple. Whilst some quant funds do successfully employ very complex models there is certainly no absolute requirement to do so.
Quote from sdd80:
⢠I donât talk about my interest in trading with friends, co-workers etc. In fact, Iâm almost secretive about it. Iâve found that people generally donât understand trading and most conversations are pointless. I am very lucky though to have a father who is supportive and does a bit of trading on the side himself so at least that gives me someone to talk to about things.
Very wise. I have found that there is nothing to be gained from discussing trading with anyone who is not as absorbed by the markets as you must be in order to succeed. I genuinely believe that isolating yourself from any market related discussion with others is the best way to start the journey. That way you can clear your mind of any distractions and start to focus on the important questions. If you are to succeed then rationality and common sense will lead you in the correct direction.
If it gives you any confidence, I was in a similar position to yourself a few years ago. After dicking around in the markets for a while I decided to dedicate myself to a prolonged period of full time research. I saved enough money to support my family for at least three years and we lived frugally whilst I spent the best part of two years at a desk by myself figuring out how the markets function and developing a system to fully exploit them. I initially funded a futures account with just $30k and have since grown that by nearly two orders of magnitude.
It is possible, but only if you are prepared to make the effort required.
Good luck!