WE are the 95%!

Quote from Ash1972:

You really do seem quite confused. Yes, having a degree or MBA from a good school will help you gain junior level entry into an investment bank, which, as an institution, does have an edge. The degree in this case is a hoop you must jump through to get employed by the entity with an edge.

Possession of higher degrees in itself does NOT give you any edge in the markets - nor will it keep you solvent. The people who broke LTCM, Lehmans, RBS and lots of other fine institutions were some of the most highly educated people around.
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Getting a Higher Education increased knowledge. Those guys broke LTCM , lehman, RBS and others are perhaps working another firms. That is what Higher Education can do. When 1 firm goes down, they have an excellent resume to work for another and on and on and on; something small traders cant do. Each different firm they work for increased knowledge and gain network/ make new important friends. That is what Higher Education can do.

By the way, it is math and computer science degrees and not MBA will land a trading job in the house. They are called quantitative trader. Only salesman get an MBA degree. They are called broker.


More than 90% of small traders lose. They just lose!
 
I see.

So what you're actually saying is that even if you're a poor trader, with the right degrees you can tout yourself around the big banks and some of them will be impressed with the fancy qualifications on your CV. Yes, I agree with that :)

But what you're forgetting is that a small trader can develop a real edge which is unrelated to what degrees he/she may have.
 
Quote from Ash1972:

I see.

So what you're actually saying is that even if you're a poor trader, with the right degrees you can tout yourself around the big banks and some of them will be impressed with the fancy qualifications on your CV. Yes, I agree with that :)

But what you're forgetting is that a small trader can develop a real edge which is unrelated to what degrees he/she may have.
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Perhaps that small successful traders were a former lehman quantitative trader and a MIT grad. Don't u think so?
 
Quote from emg:

Perhaps that small successful traders were a former lehman quantitative trader and a MIT grad. Don't u think so?
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MIT grad, yes, why not.

Lehman quant trader? The point is those strategies can usually only be applied by institutions, and ultimately they did not work out (for Lehman anyway).
 
Quote from SnakeEYE:

We are the 95
We are the 5
We are the 0 who make a brighter day
So let's start giving

:D :D
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You keep moaning sweet nothings like that and I'll plug every orifice you got, including your EYE.
 
Don't forget small traders! Higher education is the key to become a successful professional trader.

Don't be lazy and go back to school
 
Quote from pcp198:

I want to be clear, this thread was created to give support to those who have lost large parts of there life, both in time and money to trading.

Brokers and system sellers promote charts and moving averages as tools you can use to gain an edge, sales of their products and services depend on it.If you still study charts for an edge, you are not ready to participate.
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I don't think 95% is how many fail. Many publications have shown it to be over 50% who win.

Also, technical indicators are a good way to fall back on trading if your system fails.

Don't buy systems. Everyone knows they have a certain life, and the fact that people are buying them means the edge shrinks for every person who trades on it.
 
Correction, your a loser. Don't you think 95% of wannabe lawyers and doctors fail? If its worth doing tons of people will fail and the few who want it bad enough won't.
 
Quote from emg:

The question is,what makes Albert Einstein the most intellects in human history?


M-A-T-H
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The question is, why can't emg spell while pretending to know so much about so many things?

I-N-T-E-L-L-I-G-E-N-C-E
 
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