Who makes the best traders?
- Thread starter jasrlew
- Start date
Seems to me you would save a lot of time and money by simply automating your trading. Why find the 'perfect' person to simply act brain dead and follow all signals without second guessing them. This is what computers do. The person is unnecessary.
If you do want to hire a person, hire him/her to program new strategies for you. These strategies can then be implemented/automated.
-Eric
there are plenty of back doors into the bulge bracket system if you don't have ivy credentials. either know someone and be reasonably intelligent or a bombshell chick, or work your way onto the floor in an IT job (where the bar is a bit lower), and work hard to make friends, and wedge your way into being someone's assistant. I saw a handfull of people do this successfully who are traders now coming from mid-tier universities.
the only reason i got in with my good state university degree as opposed to an ivy is because it was freakin 1998.
in my opinion, this isn't a place anyone wants to be anyway. if you have a sincere entrepreneurial drive, wouldnt you rather be independent anyway and steer the whole ship yourself... just my story.
the only reason i got in with my good state university degree as opposed to an ivy is because it was freakin 1998.
in my opinion, this isn't a place anyone wants to be anyway. if you have a sincere entrepreneurial drive, wouldnt you rather be independent anyway and steer the whole ship yourself... just my story.
Interesting replies, thought I'd give my two cents worth.
In my humble opinion I find that the correlation between education and performance is next to nil. Sure it's nice to have an Ivy League education with a bunch of letters behind your name but what the Hell does that have to do with profitable trading?! I feel that to be successful in the markets you have to have a understanding of human emotions more than a 'quant' aptitude. I'll back a technical analyst who understands fear & greed before a slick, unexperienced kid MBA from Harvard or wherever any day! Again just my experience, but the understanding the markets is not number theory it's understanding people and their emotions. When your nervous and scared you probably should be buying, when your euphoric (as many people are now) you probably should be selling. I for one have had three very good years and am completely self taught. If you want to be a exceptional trader, educate yourself read,read and read some more. I feel the successful traders are those who have control of their emotions and have strict adherence to their trading programs (good times & bad) and the failures are those who trade based on emotions (ie not following stop losses). Think about that. Just my two cents. happy trading z.
In my humble opinion I find that the correlation between education and performance is next to nil. Sure it's nice to have an Ivy League education with a bunch of letters behind your name but what the Hell does that have to do with profitable trading?! I feel that to be successful in the markets you have to have a understanding of human emotions more than a 'quant' aptitude. I'll back a technical analyst who understands fear & greed before a slick, unexperienced kid MBA from Harvard or wherever any day! Again just my experience, but the understanding the markets is not number theory it's understanding people and their emotions. When your nervous and scared you probably should be buying, when your euphoric (as many people are now) you probably should be selling. I for one have had three very good years and am completely self taught. If you want to be a exceptional trader, educate yourself read,read and read some more. I feel the successful traders are those who have control of their emotions and have strict adherence to their trading programs (good times & bad) and the failures are those who trade based on emotions (ie not following stop losses). Think about that. Just my two cents. happy trading z.
Come on think about it..
The best traders have the best tools....
These tools you cant buy, usually a private secret weapon..
These tools make the trader turn a trading profession from a degree of difficulty from 10/10 to 2 /10...
Trader Motto : He who has the best spade, WINS !
(note : Spade is referred to a tool !)
The best traders have the best tools....
These tools you cant buy, usually a private secret weapon..
These tools make the trader turn a trading profession from a degree of difficulty from 10/10 to 2 /10...
Trader Motto : He who has the best spade, WINS !
(note : Spade is referred to a tool !)
As an Ivy League graduate (Princeton '03), I'd like to comment.
I agree that a simple degree per se doesn't mean jack in the trading world. However, judging from my experience at Princeton, I will say this:
I went to school with some seriously bright people. Yes, some of them were just overachievers and just book-smart. But, the majority of the people I knew were simply "good" at everything they did. They seemed to be able to figure things out quite quickly and make all the proper adjustments when attacking a problem. For them, they would exhaust every means and rack their brains in order to achieve success. For many, they didn't know anything short of perfection. They always seems to know "how to find a way".
I'm sure there is a huge number of non-educated traders who make a very good living. However, my point is that Ivy League grads have already sort of "proven" themselves in the eyes of prestigious firms who are looking to recruit. Hence, they would rather play the "odds" and hire from the Ivy's. A common set of problem solving skills and work ethic are pretty much already assumed.
I agree that a simple degree per se doesn't mean jack in the trading world. However, judging from my experience at Princeton, I will say this:
I went to school with some seriously bright people. Yes, some of them were just overachievers and just book-smart. But, the majority of the people I knew were simply "good" at everything they did. They seemed to be able to figure things out quite quickly and make all the proper adjustments when attacking a problem. For them, they would exhaust every means and rack their brains in order to achieve success. For many, they didn't know anything short of perfection. They always seems to know "how to find a way".
I'm sure there is a huge number of non-educated traders who make a very good living. However, my point is that Ivy League grads have already sort of "proven" themselves in the eyes of prestigious firms who are looking to recruit. Hence, they would rather play the "odds" and hire from the Ivy's. A common set of problem solving skills and work ethic are pretty much already assumed.
