Engineer looking to make a career change into trading (PART II)

[LEAPup]

Quote from sneakoner:

I don't plan on quitting my job for as long as it takes me to become proficient and profitable in trading.

And yes, I guess you can call trading more of a hobby than a career (at this point). But once I learn the ropes, I'd like to turn this hobby into a career.

As long as I don't quit my job, money won't be an issue.

Trading is your hobby? What a gem this thread will be!

Again, the difference between God and an engineer is God doesn't think he's an engineer...

Best advice I can give you is to turn over your financial affairs to a TRUE Professional (which you won't), and take up building model cars.

Best of luck in playing with your money as your "hobby." I'm at least glad you're doing what you're doing as those of us who are serious, TRADE FOR A REAL LIVING, and don't see the markets as a "hobby" will enjoy separating you from your money.

Where do you guys come from? Are you REALLY born on planet Earth?

 

[LEAPup]

Quote from sneakoner:

lol well i'm not a very successful engineer

but in all honesty, engineering has just taught me how to think and how to work hard and figure out difficult concepts.

it hasn't forced me to think in terms of absolutes,

even in my field, if you're off by 10%, 20%, you're fine

Off by 10 to 20% and ok?!?!?

You've got to be kidding me!!!! Is this a joke?

 

[volente_00]

Quote from bone:

What a petty, generalized value statement. Quite the opposite of my real-world experience as a trader in terms of engineers whom I personally know who are traders. Including myself.

Well you and your people must be an exception because the engineers I know who tried trading can't trade 4 quarters for a dollar. They are too busy asking questions and making trading harder than what it really is.

 

[bone]

Quote from volente_00:

Well you and your people must be an exception because the engineers I know who tried trading can't trade 4 quarters for a dollar. They are too busy asking questions and making trading harder than what it really is.

Most everybody I have ever met tries to make trading harder than it needs to be. I don't think that engineers have a corner on that market action.

 

[LEAPup]

Quote from Maverick74:

This is your big mistake. To make it in this business, you need to be passionate about trading, not about making money. Big big difference. You lost the battle before it even began.

You're wasting your time Mav. He's an engineer... They sadly run in my family, and I know them all too well. Anal retentive, and knows it all doesn't come close to summing it up for them.

Just be glad they take their financial lives in their own hands as we need the liquidity they provide. lol.

Engineers remind me of that commercial where the doctor is on the phone telling the guy who wants to control everything himeslf, "make an incision in your stomach that's about two inches..."

 

[LEAPup]

Quote from bone:

Most everybody I have ever met tries to make trading harder than it needs to be. I don't think that engineers have a corner on that market action.

Bone, if you were an engineer, you are a rare exception. I've NEVER met an engineer that was "teachable" as they already know everything there is to know after reading two books, and opening a schwabb account.

I'm just glad to have them on board none the less as they are liquidity providers, and keep market makers smiling.

 

[bone]

Quote from LEAPup:

Bone, if you were an engineer, you are a rare exception. I've NEVER met an engineer that was "teachable" as they already know everything there is to know after reading two books, and opening a schwabb account.

I'm just glad to have them on board none the less as they are liquidity providers, and keep market makers smiling.

1. If you are a market maker, you are not smiling these days.

2. I am a Nuclear Engineer with a creative streak and several international patents to my name, so I would agree that I am 'a bit off the beaten path' as it were.

3. I could personally care less who takes the other side of my trades.

 

[LEAPup]

Quote from bone:

1. If you are a market maker, you are not smiling these days.

2. I am a Nuclear Engineer with a creative streak and several international patents to my name, so I would agree that I am 'a bit off the beaten path' as it were.

3. I could personally care less who takes the other side of my trades.

I like you bone. Here's my reply:

1. Depends on what you're making a market in.

2. 99% of the engineers I know need to be wearing straight jackets.

3. I don't care either, as long as an engineer or some other know it all provides the liquidity I need.

The best time to find liquidity is when you're on the wrong side of the trade...

Btw, nothing against ALL engineers. I've found that 99% are completely un-teachable. You're probably the 1% which is a rarity.

I told my Sister to move to cash in Jan 2008, and she said, "well, I think we've reached the 'low' point in the markets." I reminded her that I am a performance only RIA (meaning I don't get paid if I don't produce results.) To this day she won't admit that her 70% DRAWDOWN was a result of her knowing more than professionals. I told her the same thing I posted above: "the difference between God and an engineer is God doesn't think he's an engineer.

Losing $420,000 buying and molding was her problem not mine. And yes, she can barely look me in the eye after this even though I never said the I told you so kind of crap.

Engineers serve a very useful purpose. BUT, they either need to be engineers, OR come up with thier own PROFITABLE trading SYSTEM, and be Traders. Both don't work for engineers, and never will...

 

[uesr33]

Quote from LEAPup:

I like you bone. Here's my reply:

1. Depends on what you're making a market in.

2. 99% of the engineers I know need to be wearing straight jackets.

3. I don't care either, as long as an engineer or some other know it all provides the liquidity I need.

The best time to find liquidity is when you're on the wrong side of the trade...

Btw, nothing against ALL engineers. I've found that 99% are completely un-teachable. You're probably the 1% which is a rarity.

I told my Sister to move to cash in Jan 2008, and she said, "well, I think we've reached the 'low' point in the markets." I reminded her that I am a performance only RIA (meaning I don't get paid if I don't produce results.) To this day she won't admit that her 70% DRAWDOWN was a result of her knowing more than professionals. I told her the same thing I posted above: "the difference between God and an engineer is God doesn't think he's an engineer.

Losing $420,000 buying and molding was her problem not mine. And yes, she can barely look me in the eye after this even though I never said the I told you so kind of crap.

Engineers serve a very useful purpose. BUT, they either need to be engineers, OR come up with thier own PROFITABLE trading SYSTEM, and be Traders. Both don't work for engineers, and never will...

You certainly have a passionate bias against all engineers, and your last post finally revered the source of your emotions (your passion against engineer).

Does it ever occur to you that you are just exactly like those "engineers" who you "dislike" so much?

A hint: you are just like your "engineer" sister! that "thing" about "engineer" runs in your family, runs in your blood line, sadly

 

[jinxu]

Quote from uesr33:

You certainly have a passionate bias against all engineers, and your last post finally revered the source of your emotions (your passion against engineer).

Does it ever occur to you that you are just exactly like those "engineers" who you "dislike" so much?

A hint: you are just like your "engineer" sister! that "thing" about "engineer" runs in your family, runs in your blood line, sadly

I have to agree with LeaPUP. Most engineer I've met have a mentality that they know everything about everything. One friend I have who is majoring in civil engineer said that he could figure out how to beat the market since he spent so much time learning from cnbc about it, yet when I asked him what he knows he really doesn't know anything about it. I wonder why not with all that cnbc he's been watching.

And btw, I majored in chemical engineering and graduated with a high GPA. But I also had an interest in the stock market while I was in school. After I got my degree, I decided to go full steam and figure out the stock market on my own. What I found out was that the better I got at trading, the worst I was getting at using my engineering skills. Which suggest to me that the two skills for either profession are very incompatible.