Quote from vibeofboston:
hi folks,
i have been doing lotta reading on quant finance books and wrote some sample code as well [i am pretty good at c++]. i want to become a trader now that i have good exposure to finance markets..
i know how to model but i dont know the inputs to that model..what i mean is i need a traders mind to first create strategies/exit plans and then i can write the code accordingly..
any suggestions where i can find hardcore books on day trading..
are you sure you "wrote" sample code? Or did you just copy & compile the sample code given to you in books you're reading?
"i want to become a trader now that i have good exposure to finance markets.."
How can you have "a good exposure to financial markets," by reading a few quant books and sample code? Have you made a trade yet? Have you made a trade based on what "your models" suggested?
"i know how to model but i dont know the inputs to that model.."
Then you don't know how to model. To model you must be aware of inputs/outputs (X,Y,Z and sometimes the imaginary plane)
"i need a traders mind to first create strategies/exit plans and then i can write the code accordingly.."
!?!?? Ok, answers my previous question.
Then start trading!! The only way to acquire the "mind of a trader" is to actually trade!!
The only way you will make decent $ from quant models is to have a model that no one has.. meaning you need to construct your own, and not "edit canned strategies" (ie. you would need to be aware of inputs/outputs)
Books only give you a glimpse of the research tactics used. But it's only the tip of the ice-berg (otherwise, UBS, JPM, high-freq groups, other black-box groups would have their strategies available publicly)
Here are some books:
http://www.wiley.com/WileyCDA/Section/id-380787.html
Hope they teach you something.. because all they taught me was to state my own hypothesis, conduct my own research, and come up with my own conclusions.
Happy Trading!
