Well said. I used to work for Dreyfus and one time a company payroll got accidentally distributed in an e-mail with profiles of the companies top officers. No names mentioned but the highest paid was also the only guy on the list that didn't attend college. If anybody here works for them they know exactly who I am talking about.
Highest level of education?
- Thread starter indahook
- Start date
Depending on trading style there is a lot of value in a solid background in statistics.
I trade mainly mechanical systems, and it's very easy to get fooled by the apparent good performance of a "promising" system. I feel that my academic background has helped me weed out those mistakes.
Commitment, dedication and focus are as (if not more) important than a particular academic background. Often, though, you'll find people with advanced degrees have those three character traits (else they wouldn't have completed a Ph.D. for instance).
I trade mainly mechanical systems, and it's very easy to get fooled by the apparent good performance of a "promising" system. I feel that my academic background has helped me weed out those mistakes.
Commitment, dedication and focus are as (if not more) important than a particular academic background. Often, though, you'll find people with advanced degrees have those three character traits (else they wouldn't have completed a Ph.D. for instance).
A GPA is to students what a 7 figure income and credibility is to a business man. No more no less. It's a benchmark. You don't necessarily need a high GPA, but it's a good way to show what you're made of.
College helps you gain confidence and focus. Some people like that, some people don't need it. I spent 4 years in college and frankly, it was a joke. Could've done fine without it but it helps in a wobbly economy to have a "name" on your resume that people can identify.
It's like driving a ferrari, you drive it for recognition, not cause it's a fast car.
College helps you gain confidence and focus. Some people like that, some people don't need it. I spent 4 years in college and frankly, it was a joke. Could've done fine without it but it helps in a wobbly economy to have a "name" on your resume that people can identify.
It's like driving a ferrari, you drive it for recognition, not cause it's a fast car.
Depends on your style of trading... I am one of those who made a transition from the Street to my pyjamas, which coincided with the bull market...
My Ivy League crap and my Street experience counts for nothing vis-a-vis the kind of trading I do (simple daytrading with charts)... I gotta agree with indahook (re: his comment on not needing anything past high school math in order to deal with simple money management issues)... the rest is simply discipline, the ability to adapt, and the ability to execute consistently...
Only guys going to work for hedge funds or i-bank derivative desks need complex mathematics and programming languages (but I will concede that I do some tinkering around with programming for my trading, even though it is strictly not necessary)...
My Ivy League crap and my Street experience counts for nothing vis-a-vis the kind of trading I do (simple daytrading with charts)... I gotta agree with indahook (re: his comment on not needing anything past high school math in order to deal with simple money management issues)... the rest is simply discipline, the ability to adapt, and the ability to execute consistently...
Only guys going to work for hedge funds or i-bank derivative desks need complex mathematics and programming languages (but I will concede that I do some tinkering around with programming for my trading, even though it is strictly not necessary)...