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

[uesr33]

Quote from jinxu:

........ I wonder why not with all that cnbc he's been watching.

As I had said in my earlier post, the main reason people fail in trading is the mis-information: they mistaking the garbage and lies as valid market knowledge.

That is not their fault, because there is virtually no valid market knowledge available anywhere, all the books and sources like CNBC are at best garbage, with many being out-right lies designed to deceive and mis-inform new comers so that they have continuous supply of "liquidity", and there are those scums who know nothing about trading who sell "information" to new comers to make a profit for themselves at the expense of the financial ruin of these new comers .

CNBC is worse than garbage, is poison. Too bad the engineers couldn't figure that out.

 

[FrankSlaughtery]

not to beat up on the engineer but saying you can be "off by 10 to 20% and still be fine" is beyond stupid.

if an independent trader (like most et'ers) loses 10% no one is effected except him (ok his family but it won't destroy them or him).

if a bridge collapses b/c an engineer was off by "only" 10% then a lot of people are screwed.

your profession doesn't matter. everyone on here came from all walks of life and job experiences. what does matter is having an edge, the discipline to stick to a plan and passion for the markets. hope this takes some of the sting out of my above critique.

 

[uesr33]

There is one thing that comes before the edge, discipline, and passion for trading, and that is attitude!

Winners have winning attitudes, commonly refers to as "positive mental attitude", but that says nothing about what it really entails. Anyone who is serious about trading should have a serious examination of their attitudes before they do anything about trading.

The attitude of one can be "off by 10 to 20% and still be fine" will lead to one predictable outcome in trading, and I am sure most of you know that that outcome will be.

 

[ammo]

engineers see by design,the market has structure, if you can see a part of it ,you on on a quest to understand all of it,wall street operates on that premise,and like vegas if they rig it ,it will forever throw you off ,even if its only rigged 5-10% of the time(slot machines for example or program traders taking advantage of the spread between futures and cash every time its over or under)fuel and air mixture on a gas engine vs credit and interest rates,too rich or too lean on the mixture gives poor performance,rambling on a bit but the scenarios of comparisons are endless

 

[Arnie]

To the OP:

How comfortable are you with uncertainty?

Because there is a lot of that in trading and especially in the actual trades.

 

[sneakoner]

Quote from LEAPup:

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

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

were you beaten as a kid by your father? is that why you have such a chip on your shoulders against engineers?

if you have half a brain you'd realize that engineers always design things with a factor of safety

if a beam is meant to hold 10 lbs, we design a beam to hold 15 lbs instead. therefore being off by 10-20% wouldn't matter because there is a factor of safety involved

 

[sneakoner]

Quote from Arnie:

To the OP:

How comfortable are you with uncertainty?

Because there is a lot of that in trading and especially in the actual trades.

i'm going to find out once i go live with a small account shortly

 

[bone]

If you can calculate the bending moment of that beam, then you understand the dynamics behind the stresses imposed by the load.

The rest of you silly dipshits would just load it until it breaks.

Engineers understand and can express the mechanical universe. And it does help with trading. Anyone care to wager that the upper tier algo shops and the well-known progressive black box firms have more engineers than liberal arts majors on the staff ?

 

[local]

Quote from bone:

If you can calculate the bending moment of that beam, then you understand the dynamics behind the stresses imposed by the load.

The rest of you silly dipshits would just load it until it breaks.

Engineers understand and can express the mechanical universe. And it does help with trading. Anyone care to wager that the upper tier algo shops and the well-known progressive black box firms have more engineers than liberal arts majors on the staff ?

What an utterly pathetic post. Do you address your "clients" the same way ? (I don't really think you have any clients, posting 10 times/day doesn't leave you much time does it ?) An engineering background is irrelevant to a commercial trading position. i.e. there is another side to trading besides the "black box" firms.

Regards, local

 

[bone]

Quote from local:

What an utterly pathetic post. Do you address your "clients" the same way ? (I don't really think you have any clients, posting 10 times/day doesn't leave you much time does it ?) An engineering background is irrelevant to a commercial trading position. i.e. there is another side to trading besides the "black box" firms.

Regards, local

You would have no clue as to what possibly happens outside of that grain pit you stand in every day. In fact, you are stupid enough to stand in a pit where as of yesterday's settlement sheet Globex did ten times the volume in grains as the pit did. Idiot floor trader.