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Jitu,
I took the Series 3, 66, and the MTA level 1 exam, and I can tell you that after all the effort I could impress people at cocktail parties with my knowledge of technical analysis and securities laws but my trading account continued to dwindle.
I chose this path because I had enough of corporate America, and wanted to run things my way rather than being managed by egotistical idiots. God help you if you've decided that big trading firms are for you, and though you'll impress people at cocktail parties I seriously doubt that the experience will do much for your trading account.
Kind Regards from your fellow Texan,
Garyjtelang <jtelang@xxxxxxxxx> wrote:
> I'm certainly no "guru" ( thank G ) and I'm not sure I even qualify> as a pro traderFred, 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. ^^_^^> > > > > > YukiSend BUG REPORTS to bugs@xxxxxxxxxxxxxSend 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 the Yahoo! Terms of Service.
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