Tim, Check out AHG journal. Read it all. Gift.
Successful traders keep silent
- Thread starter timvodas
- Start date
What the hell does it mean to "be profitable" Heck, I'm sometimes profitable sometimes not. Could you be specific w/ that statement?
So many traders say it took x amount of years to become profitable. What the hell does that really mean? lol
Your not looking in the right places and your entire outlook is tainted. If you think negative, that is what you get back.
When people make these kind of statements I like to ask
- how much do you make?
When people make these kind of statements I like to ask
- how much do you make?
Go to a trading firm. You will see for yourself exactly how they make their money. In fact, they often train you because they need you to make money for them.
Otherwise, if there is no symbiotic relationship, why would anyone tell you how they trade? That said, in the late 80's and 90's, for example, Goldman Sachs used to allow their quants to publish much of their research. It was great reading Emanuel Dermans' papers. In recent years, that has been scaled back quite a bit, but there is still lots of ideas out there that if you were qualified to understand them, would make you money.
Conclusion, there are traders and institutions that either train you to make money, or publish ideas that are money makers. You won't find it here on ET because most of these people don't even know what trading is supposed to be.
As to trading being simple, all you do is click a mouse and enter a trade and vice versa on the way out (or some other form of the same thing). That is a terrible way to look at things. What you are doing is similar to saying: Clouds are 80% water. Human beings are 80% water, therefore human being are clouds. Human beings and Chimpanzees share 98% of their genetic makeups...
You can trivialize anything, and you are focusing on the trivial aspects of trading.
nitro
Otherwise, if there is no symbiotic relationship, why would anyone tell you how they trade? That said, in the late 80's and 90's, for example, Goldman Sachs used to allow their quants to publish much of their research. It was great reading Emanuel Dermans' papers. In recent years, that has been scaled back quite a bit, but there is still lots of ideas out there that if you were qualified to understand them, would make you money.
Conclusion, there are traders and institutions that either train you to make money, or publish ideas that are money makers. You won't find it here on ET because most of these people don't even know what trading is supposed to be.
As to trading being simple, all you do is click a mouse and enter a trade and vice versa on the way out (or some other form of the same thing). That is a terrible way to look at things. What you are doing is similar to saying: Clouds are 80% water. Human beings are 80% water, therefore human being are clouds. Human beings and Chimpanzees share 98% of their genetic makeups...
You can trivialize anything, and you are focusing on the trivial aspects of trading.
nitro
At our firm, the head traders have mock sessions with all the clerks on many different options strategies. They get trained how to make both pit traded markets and electronic markets, and how to look for edges, and which strategies to employe for each. We meet each morning and have a strategy for that day on what we want to accomplish and why.
They also get trained on the software by the technical side of the firm, and they get to engage with the programmers to customize software to the way they like to see things and the way they like information presented.
Finally, we are all on a private chat, constantly pointing out edges, and you are expected to participate as an extra set of eyes. All trades that are made are chatted, and often the head traders make commentary as they build positions in realtime.
All these things taken together make for an experienced trader after about a year of serving as a clerk for the other traders. If you know what you are doing, you get promoted to a trader and a clerk takes your position and learns from you.
In my experience, if you are trading firm money, you are almost always trading a specific edge(s) and you are groomed and trained.
nitro
They also get trained on the software by the technical side of the firm, and they get to engage with the programmers to customize software to the way they like to see things and the way they like information presented.
Finally, we are all on a private chat, constantly pointing out edges, and you are expected to participate as an extra set of eyes. All trades that are made are chatted, and often the head traders make commentary as they build positions in realtime.
All these things taken together make for an experienced trader after about a year of serving as a clerk for the other traders. If you know what you are doing, you get promoted to a trader and a clerk takes your position and learns from you.
In my experience, if you are trading firm money, you are almost always trading a specific edge(s) and you are groomed and trained.
nitro
Sounds like a traders utopia,I'm feeling a bit envious!
I suspect that I'm typical of traders over here,sitting in my cave chipping away at the rock face, rarely getting to swap ideas or strategy with other traders. Lack of opportunity makes for a long and slow learning curve and a bookcase full of virtually useless tomes. Do you mainly specialize in equity or futures options! What time frames do the traders at your firm generally operate in, and/or what do you prefer!
Regards
Johno
I suspect that I'm typical of traders over here,sitting in my cave chipping away at the rock face, rarely getting to swap ideas or strategy with other traders. Lack of opportunity makes for a long and slow learning curve and a bookcase full of virtually useless tomes. Do you mainly specialize in equity or futures options! What time frames do the traders at your firm generally operate in, and/or what do you prefer!
Regards
Johno