Quote from Doran:
Greetings
first time posting and happy to be here.
A few months back I found a thread here with a new guy asking a few questions on how to become a stock trader. He was essentially asking what university degree he should get to be a trader, and I was very very surprised by the answers read here.
It seemed as if people were saying to not waste your time getting an MBA or Economics or Finance degree, for it's the act of trading that makes you a good trader. Ah, wise and insightful indeed, thanks. But what surprised me the most was with how many people suggested him to get a computer science degree if anything. Over and over again, people suggested programming, and as I browse the forums here, there are quite a few sections entirely dedicated programming.
But why? I'll be honest, it never occurred to me that stock traders were also programmers. What can you do with programming and/or computer science that makes you a better trader?
And if one were to study computer science with the intent of trading, what language to start with first and what type of programs to write?
For stock or any type trading, the trader has to put his imprimatur on his approach for partnering with assorted markets.
A few steps are involved. Below you see the topic and the related resource for that topic. From this a conclusion can be drawn about college. College is a place to grow and mature so you can create a strong family.
1. Create a full and complete algorithm of the market's operation. (Keynes. Carnap, Boole, and Mandlebrot.)
2. Create a way to partner with the market (avoid Boyd and Thomas X and use Diodge, Chopra, Tufte and Cabot-Zinn)
3.
learn about making money (learn why John Bogle owned his corporation's stock instead of his corporation's mutual funds. Learn from Willaim J. O'Neill how to start with 500 bucks and in 27 months have the funds to create the IBD empire of financial information)
I just finished writing the chapters of part of a book that included the role of college. I went six years and got 7 letters to append to my name. But one day my instructor job department head read me the WSJ for an hour page by page. I learned that a salary was not the main event but trading was.
To trade while using your own fully complete system to take the full offer of the market, you need only to learn the following techniques:
1. criteria
2. filters
3 formulae
4. rules
5 strategies
6. baskets,
7. libraries.
For the CW all of this has been done and is available in two forms:
1. drag and drop, and
2. look up and, under instruction, completing panes that create the 1 through 7 above.
Three days of formal instruction will get this to a place where you can use the phone and gotomeeting and turn your computer over to an IT technician who can solve any problem you create from lack of facility.
For CW, the work to get either 1 or 2 above was created by teams using C++ type programs. But both 1 and 2 can do the correct alternative to the CW which is RDBMS. I dropped learning both SQL and Haskell after I got three days of training. using C++ user disguised friendly items 1 and 2. Worden has the best Drag and Drop. I used the second alternative.
So the prep for expert non-CW money making comes down to training on how a platform creates the ingredients of trading systems. Almost no one uses trading systems that are based on fully coded systems of how the market operates (algorithms plus market specific applications)
To do this you get libraries from library creators. You find these people by networking. You have to pass the test of the creator. I use checklists in the ends of chapters of the trading book text I wrote for doing the test.
Go to college to major in something you like; change majors as you go through college. Meet a like minded female or male. Then go to a three day course on using the tools of programming trading systems. Or go to the next three day course and then go to college. The people taking the course are there for a reason; one or more will live near you.