Bingo! In my opinion an in depth study of mathematics is a lifetime endeavor. Also as one matures in their understanding of mathematics, new discoveries are found and better data models are developed that can be applied successfully.
What characterizes the most successful people on Wall Street?
- Thread starter Phill Twist
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Bingo! In my opinion an in depth study of mathematics is a lifetime endeavor. Also as one matures in their understanding of mathematics, new discoveries are found and better data models are developed that can be applied successfully.
Wall street relies on an endless supply of dumb money and dumb luck. Sure there are some good deal makers but trading like commodities or stocks- insider trading probably accounts for most of the successes, butthere are some genuine talents I'm sure. Confidence is key and that comes from success-and the more you tarde the luckier you get. Paper trading is a waste of time if you can blow up rich people's accounts while learning, then it's a great result for you. Many high nett worth clients are rubbish traders and lose bundles. Many account managers lose bundles. Managing risk is one thing, but if you can win most trades big and lose small you have a formula for success, no tricks or mystery-example buy when something passes up through a moving average, sell when it does the reverse-look for a reward of 4 times what you will lose when it goes against you. Easy to back test, easy to trade on any time frame