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> I'm certainly no "guru" ( thank G ) and I'm not sure I even qualify
> as a pro trader
Fred, you're too modest.
One followup question... In retrospect, do you think there's any
better/shorter way of going about it (initial learning curve and
career jump, I mean)? I'm asking wrt to becoming a CTA, for
example... Or taking a few of those Series 5, etc. exams and seeking
a trading job? From what I understand, its not easy to get into a
trading job if its not one's career path to start with early in life.
Anyone has any thoughts on that? I'm just curious to know what more
options are available to one, other than trading on your own to make
it a primary career, if one wants to attempt a switch-a-roo? I myself
am fairly comfortable with my own research and results so far (within
the grail-less zone, of course), and also sure I'll do fairly well in
the coming years, but I'm wondering if I could accelerate the process
by just switching the career some other way.
Thanks.
Jitu
--- In amibroker@xxxxxxxxxxxxxxx, "Fred" <fctonetti@xxxx> wrote:
> 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
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