University student who whould like some advice
- Thread starter Powerpritt
- Start date
As a person assesses the potential of a trading career, several Questions come up. One theme of the questions iswith regard to where trading is to be done. Another thme revolves around the theme of information for trading.
It is probably not possible to conclude that working for anyone else is a possibility.
You will also have to conclude that both FA and TA form the mix of required information.
By looking at the money velocity of profits, you find that the limiting factor is market capacity.
In the end, with all things considered, you wind up with three fractals for trading and, because of capacity limitations, you sweep from the smaller capacities into the larger capacities. Fortunately, there is a direct relationship between capacity and money velocity of profits.
You can take a fixed profit measure and apply it to the three market genres. By doing this you see how long it takes to accumulate that profit measure.
Use 30% since it is the value that shows you that you can't consider working for anyone.
In intraday trading, 30% is made in a portion of one day.
In position trading, 30% is made in 12 to 16 days.
In sector rotation, 30% is made in 8 to 10 weeks.
Here is a chart that shows the characterisitcs of these three common approaches.
As suggested elsewhere with regard to working for others, 30% is a number that is used to describe the annual bottom line of such companies. Any amployee, no matter what position in such a regime, will not be making more than a portion of the bottom line. This is sort of inefficient. The reason is obvious; TA is absent in these operations.
As a person assesses the potential of a trading career, several Questions come up. One theme of the questions is with regard to where trading is to be done. Another revolves around the theme of information for trading.
It is probably not possible to conclude that working for anyone else is a possibility.
You will also have to conclude that both FA and TA form the mix of required information.
By looking at the money velocity of profits, you find that the limiting factor is market capacity.
In the end, with all things considered, you wind up with three fractals for trading and, because of capacity limitations, you sweep from the smaller capacities into the larger capacities. Fortunately, there is a direct relationship between capacity and money velocity of profits.
You can take a fixed profit measure and apply it to the three market genres. By doing this you see how long it takes to accumulate that profit measure.
Use 30% since it is the value that shows you that you can't consider working for anyone.
In intraday trading, 30% is made in a portion of one day.
In position trading, 30% is made in 12 to 16 days.
In sector rotation, 30% is made in 8 to 10 weeks.
Here is a chart that shows the characterisitcs of these three common approaches.
As suggested elsewhere with regard to working for others, 30% is a number that is used to describe the annual bottom line of such companies. Any amployee, no matter what position in such a regime, will not be making more than a portion of the bottom line. This is sort of inefficient. The reason is obvious; TA is absent in these operations.
Jack, I personally have no problem having read your ridiculous posts for these past few years.
But I have a huge problem with you laying your crap on a student who is sincerely looking for some guidance.
Honestly, this is what I would expect from an asshole.
You're old enough to know better.
But I have a huge problem with you laying your crap on a student who is sincerely looking for some guidance.
Honestly, this is what I would expect from an asshole.
You're old enough to know better.
Your best bet to simply get the grasp of FX is to start with something that shows slow methodical money management.... Oanda is likely the best out there for this due to the ultra micro amounts of the trades.
I'd suggest a basket approach to trading where you don't have to micro manage and get killed by the spreads. Re balance your account once per day or so. This methodology works well for a few % per month, which in this economy is 24 times what your going to get at any bank.
good luck!
I'd suggest a basket approach to trading where you don't have to micro manage and get killed by the spreads. Re balance your account once per day or so. This methodology works well for a few % per month, which in this economy is 24 times what your going to get at any bank.
good luck!
I just had to give u some advice- as I WISH someone had given me some when I was in school...
Forget about the business/economics classes instead take intro to probablity/statistics and then switch majors to Psychology.
Then start seeing a shrink and work on EVERYTHING you can to learn about yourself and what makes u tick etc.
Then learn how to play poker and Backgammon
AND then go trade em up-as u will be a few steps ahead of the crowd!
Forget about the business/economics classes instead take intro to probablity/statistics and then switch majors to Psychology.
Then start seeing a shrink and work on EVERYTHING you can to learn about yourself and what makes u tick etc.
Then learn how to play poker and Backgammon
AND then go trade em up-as u will be a few steps ahead of the crowd!
Great induction man. To answer your question, English is not my native language therefore I occasionally make a stupid mistake like that.
I guess that could work but I would not enjoy taking psychology classes ;-) Thanks for the advice though.
Next year I might get in the Honours Programme which means that I can take extra courses (also from different faculties), I might take a psychology course then.
Someone else already suggested just to play around with Oanda, because there you can work with very little cash.
I will look a bit more into programs like InvestorRT and Tradestation and just learn by backtesting and making strategies in those programs.
Any other thoughts of trading with little cash versus spending my money on one of those expensive programs like InvestorRT and the like?
I sometimes examine trading ideas with Microsoft Excel spreadsheet. Excel has lots of math functions such as average, standard deviation, maximum, minimum and plots graphs too.
Trading simulation software might seem expensive but it's probably cheaper than a few mistakes.
Trading simulation software might seem expensive but it's probably cheaper than a few mistakes.