You Can't Trade Without A College Degree!!

Quote from Frank Thomas:

Yeah it's great, then he can automate his 20% yearly performance ... cool.


It is more then that. It is the closest thing anyone will get along the lines to being "taught" how to trade... And it will only cost him like 25k.... that is probally less then going the self-taught way.
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You know, I don't run around this place trying to act like I'm the "God" trader that so many other liars do.

I don't "brag" about what I can or can't do.

But because some kid here with no trading profits at all is trying to "call me out" as some idiot, I'll give an example of one of my recent trades which is pretty typical of my style. I've also ridden FXP on a couple of waves recently amongst other successful swing trades.

Yes I *mostly* invest. But I consider myself a level-headed risk to reward investor/swing trader. I take profits when they give them to me and I look for setups that will be profitable as quick as possible, but I'm not afraid to *wait* if the setups take a while to develop.
 
Quote from tradestrong:

Here's an example of one of my "preschool" investment maneuvers. No actually, I said "invest" to simplify what I do. My style is actually a hybrid. I take huge profits when they present themselves to me. I'm more of a "position" type trader.

UYG 2007-11-27, 10:26:52 2007-11-30 41 39.509998
UYG 2007-12-10, 10:55:27 2007-12-13 -41 49.2500

Notice how close to the bottom and the top that UYG traded in that time frame. Pretty damn good if I say so myself. I actually have bought more down at the current levels.

Silly me though. I don't know what I'm actually doing. Do educumate me on your paper trading.


:D
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Now see that's exactly what I mean.

Investors focus on trade entry ... and 90% of the vendors out there try to sell traders on that paradigm.

But good trading is all about leverage, risk management and discipline.

Thanks for allowing me to point that out.

Yep, worlds apart. :)

I
 
Quote from Icarus5:

Now see that's exactly what I mean.

Investors focus on trade entry ... and 90% of the vendors out there try to sell traders on that paradigm.

But good trading is all about leverage, risk management and discipline.

Thanks for allowing me to point that out.

Yep, worlds apart. :)

I
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What the fuck do you think trade entry is? It's about risk management. What the fuck do you think position trading is? It's about leverage.

And what the fuck do you think "waiting for good setups" is? It's discipline.
 
money is only one way to measure the cost.

ICARUS5,

What you are talking about makes the money part seem like nothing. I hope i dont ever have to go through some of the emotions I have gone through on this journey ever again. Being in a less then desirable position, staying up all night watching the asian and European markets, reading every article you can find over and over again, looking at charts till your eyes are red, smoking 2 packs of smokes in a night, taking a cash advance on the credit card to pay rent, this list could go on and on......

But being able to do what you want to when you want to, PRICELESS!
 
Quote from tradestrong:

... I'm not going to thump my chest about my performance, but before lining up with others who "claim their superiority" without even acknowledging whether they make any money, you jump right with "the crowd". I hope that's not what your personality is like, because I actually respected your opinions in this thread ...
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Frank Thomas was paying you a compliment.

OK, we've gone just a little bit off-topic of the thread title, so I'll let it be.

We all know who we are.

Good trading to you Frank.

I
 
Quote from Icarus5:

Frank Thomas was paying you a compliment.

OK, we've gone just a little bit off-topic of the thread title, so I'll let it be.

We all know who we are.

Good trading to you Frank.

I
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I already figured it out and changed the post well before you cut and paste it and you know it.
 
Quote from Frank Thomas:

What you are talking about makes the money part seem like nothing. I hope i dont ever have to go through some of the emotions I have gone through on this journey ever again. Being in a less then desirable position, staying up all night watching the asian and European markets, reading every article you can find over and over again, looking at charts till your eyes are red, smoking 2 packs of smokes in a night, taking a cash advance on the credit card to pay rent, this list could go on and on......

But being able to do what you want to when you want to, PRICELESS!
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Whew!

Tell me about it Frank.

We've ALL been there!

That's why I now just focus on intra-day scalping and assymetric growth of capital so that I can scale-up as quickly as possible while decreasing risk as I increase my position sizing.

That's the sweet spot. :)

I'm not the only math whiz around here though, giles177 was actually conducting a clinic in the processes involved on another thread, I tip my hat to anyone who comes on these boards and is willing to give it away. :cool:

Oh, he's another self-made trader, btw.

Coincidence? I think not.

I
 
Quote from Frank Thomas:

But in all seriousness, I think having a software/math/finance background is probably the best possible combination if somebody does decide to go to school.

Tradestrong,

I agree with that. You should look into that MSFE degree, since you already know something about trading and have the software degree. It really is good practical stuff.
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It does sound like an interesting degree. I might look into it at sometime in the future.
 
This is such a bias question in the first place guys. I mean you have that one guy who said the whole market is going efficient and the more quant stratagies you have the better you are. He said that 90% of trading is black box and modeling. He said the days of a street hungary kid going on to make millions is over.

I would wagor that he won't be trading within 5 years. With that kind of attitude he is royally screwed! The markets are efficient in "our" minds. What really makes a market efficent? Last time I checked it was when supply and demand for that particular product was equal. That will never happen because there isn't a set equation that makes the markets efficient. There isn't a set goal that makes the markets efficient. It is all determined by the way people think. Some think its overbought some think its oversold. They may use black box/quant stratagies to determine whether "they" think its overbought or oversold. They may be using the "feel" of the market to determine overbought/oversold. They may use any combination of technicals or fundmentals to also determine fair value. In the end its all just an opinion. There is no sound scientific way to get markets efficient.

I remember when I was talking to my high school guidence counceler. We were getting in a roundup over something but I can't remember what it was about. Anyway he told me something that I will remember always. He said "Brogan, you probably know more about investments than anybody in this building but there is one thing you don't have that we have, a college degree which you are going to need to work in investments."

I will never forget what he said to me. He is a measily little worm who thinks hes hot shit because he has a degree that says he can slave away in a school building for the rest of his life helping little shits like me and earning around $40,000 a year. I will never let that happen to me......ever. The world is brainwashed by the fancy words the colleges have given you like phd's, ivy league, scholorships, etc. The average human being is suppose to be the smartest thing on this planet. From my experience they have to be some of the stupidest most nieve critters I have ever seen. They are sheep. They do whatever anybody else wants them to do. They are easily manipulated and can be easily fed lies. The true key is to harness that weakness and use it to your advantage.
 
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