fast arithmetic and trading: a factor?

[rosy]

Quote from Batman28:


now can anyone tell me how figuring out 45/35 - 23/53 in 5 seconds makes a good trader?

if you're still trading in a pit then fast mental arithmetic is essential. However, the order flow now is electronic and computers do the number crunching and marketmaking. The human makes sure the programs do not crash and changes some parameters

 

[ozzy]

I also think this is important. The desire to win can play an important role in this game. But its not the end all be all. I played several sports at a high level, that didn't stop me from blowing huge amounts of money unnecessarily. Many other factors are involved.

Quote from psytrade:

I saw Andrew Priston interviewed on Report On Business back in February, and when asked what he looks for in potential traders, he responded that he looks for those who are competitive athletes.

 

[gnome]

Quote from RedManPlus:

No...
By including pool and bowling you demonstrated that you have problems with basic logic.
You missed the point entirely.

Perhaps you might benefit from taking Logic 101 or equivalent at your local community college.

rm+

Good thing there's more than one way to skin the market... You'd have missed bigtime on me. I was once offered a job as a forensic chemist, won 3 divisons of the US Investing Championships, and had a #1 rated investment advisory service for 5 years. And, "fast arithmetic" plays zero factor in my method. (BTW... Logic is not my short suit.)

Sounds like your ego is WAAAY bigger than your ability.

 

[cashmoney69]

Quote from Batman28:

hi,

i know that a number prop firms who recruit trader trainees.. and I have attented 1 of these tests and have 1 with optiver coming next month - but im going to cancel it because I know what the test is like now and im not going to waste my time.

my question is this, seriously: do you really have to be a math-genius to be a good trader/work for these guys? i think its bollox.

what the hell does lightning arithmetic skills have anything to do with trading? sure you need to have a mathematical mind, and be good at math generally - but the people they look for are true geniuses.. I mean the test I sat before was like 80 questions in 4 minutes. and optivers test is even harder - 80 questions in 8 minutes, -1 for wrong answers, -2 for missed questions and u gotta get like 55 just to go to the 2nd and 3rd tests..

its just ridiculous.


For me, trading is most importantly a matter of good judgment. a math genius can never be a successful trader if he or she cannot make good judgements, has no sense of value of the product and timing.

now can anyone tell me how figuring out 45/35 - 23/53 in 5 seconds makes a good trader?

Thanks.

if your scalping...holding stock for a couple seconds to a minute..well, whats 20.55 - 19.17 * 1200 - 10 ?...huh..AHH! too late, the answer is 1646.00. You will have to do this kinda stuff in your head in a matter of seconds for every trade you take. Which is why I dont scalp.

- nate

 

[gnome]

Quote from cashmoney69:

if your scalping...holding stock for a couple seconds to a minute..well, whats 20.55 - 19.17 * 1200 - 10 ?...huh..AHH! too late, the answer is 1646.00. You will have to do this kinda stuff in your head in a matter of seconds for every trade you take. Which is why I dont scalp.

- nate

There are better reasons than this for not scalping.

 

[menelaus]

I traded equity options in the pit and math is NOT that important, yes you have to figure your hedge deltas quickly, price spreads, and monitor put-call parity relationships, but seriously, taking advantage of resting orders, fading smart orders, pushing long gamma winners, covering poor positions, and overall risk management most important things.

Screen based=math less important.

 

[psytrade]

I havent traded options for a living, but on the screen during the day, I'm guessing its like poker. Is this at all accurate?

 

[kareltje_3]

Quote from Batman28:

and optivers test is even harder - 80 questions in 8 minutes, -1 for wrong answers, -2 for missed questions and u gotta get like 55 just to go to the 2nd and 3rd tests..

Are you sure this is right? -2 for a wrong answer and -1 for a missed question seems to make more sense.

I'm going to do the test in a few weeks. Do you have any more info about the first test and the kind of questions (relative more multiplying or subtracting questions, etc.) And do you have an idea about how the 2nd and 3rd test will look like?

Thx in advance

 

[JakeMc5]

Quote from cashmoney69:

if your scalping...holding stock for a couple seconds to a minute..well, whats 20.55 - 19.17 * 1200 - 10 ?...huh..AHH! too late, the answer is 1646.00. You will have to do this kinda stuff in your head in a matter of seconds for every trade you take. Which is why I dont scalp.

- nate

Actually i think you'll find the answer to that problem is -22993.45

Try this...

20.55 - (19.17*1200) - 10, that is the order of operations...

 

[cashmoney69]

Quote from JakeMc5:

Actually i think you'll find the answer to that problem is -22993.45

Try this...

20.55 - (19.17*1200) - 10, that is the order of operations...

Or what about: (20.55-19.17)1200 - 10 which is 1646.
---

Yes, but because other posters have said that math skillz in

trading arnt "that important", my mistake is now void