|
PureBytes Links
Trading Reference Links
|
I'm certainly no "guru" ( thank G ) and I'm not sure I even qualify
as a pro trader, but I think once ones trading starts to produce more
income then ones job/career then one begins to look at it
differently. As far as hurdles go, the biggest one I know of is that
it's more about what one keeps then what one makes. This seems
straight-forward enough but I can tell you that looking at MaxDD's in
a system report is nothing like feeling them in your account. The
danger in system development, followed by the trading of those
systems, assuming that one has done due diligence to ensure that the
techniques one has come up with are viable going forward, is not to
be surprised if you have DD's that at least approach what your system
has demonstrated in backtesting. A general rule of thumb I use in
determining whether or not I'll actually trade a particluar
mechanical system is to look at the stats and take half the CAR and
twice the DD's and if I can still stomach the results then maybe,
just maybe I've found something tradable.
--- In amibroker@xxxxxxxxxxxxxxx, "jtelang" <jtelang@xxxx> wrote:
> Yuki (and other guru's),
>
> I'm sure some of you folks initially had a different primary career
> and then transformed yourselves into successful pro traders. It'd
be
> very interesting to hear from you about the experiences. For
example -
> what were the hurdles? How long were you trading on the side
before
> going fulltime? What was it that finally convinced you to go
> fulltime? etc. etc...
>
> If you guys find it interesting and willing to comment, I think
many
> would be interested to hear about it.
>
> Jitu
>
> --- In amibroker@xxxxxxxxxxxxxxx, Yuki Taga <yukitaga@xxxx> wrote:
> > Hi Phsst,
> >
> > Tuesday, October 28, 2003, 2:50:04 AM, you wrote:
> >
> > P> <[when I write "we", I add you to the great holygrail-less team
> > I belong.>>
> >
> > P> Dimitris,
> >
> > P> I am honored, not to mention eminently qualified to join this
> team. I
> > P> think I even have credentials... :-)
> >
> > P> I enjoyed working (past tense) for my bread too. Sometimes it
was
> > P> hard, but more often it was fun.
> >
> > It's a comment I can easily identify with. Quite a number of
years
> > ago when I first starting looking for a mechanical system, and
> really
> > knew *nothing* about them, I thought I had found something great
> > rather quickly, which has probably happened to many of us. I
> thought,
> > well, this is it; I don't have to do anything now except plug
this
> in
> > and let it trade; my market watching days are basically finished.
> >
> > I well remember my almost immediate reaction to that "revelation",
> > too. Somehow, it was a giant letdown, a sense of almost instant
> > boredom, and even serious regret. No longer would I be profiting
> from
> > my own wits, but from some cold, applied set of market behavior
> rules
> > that I had happened to chance upon (I hadn't really of course; the
> > system turned out to be profitable, but way too volatile for me,
and
> > probably for most). But for quite a few days I was in kind of a
blue
> > funk about having "found" a trading system. Fortunately, I hit a
> > major drawdown rather quickly with that early attempt at trading a
> > system, and life became interesting again. ^^_^^
> >
> > Yuki
------------------------ Yahoo! Groups Sponsor ---------------------~-->
Rent DVDs Online - Over 14,500 titles.
No Late Fees & Free Shipping.
Try Netflix for FREE!
http://us.click.yahoo.com/vhSowB/XP.FAA/3jkFAA/GHeqlB/TM
---------------------------------------------------------------------~->
Send BUG REPORTS to bugs@xxxxxxxxxxxxx
Send SUGGESTIONS to suggest@xxxxxxxxxxxxx
-----------------------------------------
Post AmiQuote-related messages ONLY to: amiquote@xxxxxxxxxxxxxxx
(Web page: http://groups.yahoo.com/group/amiquote/messages/)
--------------------------------------------
Check group FAQ at: http://groups.yahoo.com/group/amibroker/files/groupfaq.html
Your use of Yahoo! Groups is subject to http://docs.yahoo.com/info/terms/
|