Qualifications

[Robertral]

So you'd call someone who left school at 16, no qualifications, yet was earning £4 million pa by the time he was 21 a boffin would you?

I dont want to sound too harsh here - and I hope you dont take offence at this, but you obviously haven't been involved in the markets too long have you kid.

Maybe your idea of a 'shed load' and mine are at very different ends of the spectrum.

Go stick your head in a book, or go back to Uni for another 6 years if you think it will give you an edge (for someone else). Id rather be taking money out of the markets for real, not reading about it or developing theories about it.

Ok, do you think these 16 yr olds now a days can be earning £4M pa by the age of 21????
What do you class as a big earner??? and I mean dont pick the outlier that eanrs £40M a year....

SOme 16yr old leaves school, and by the age of 21 is making £4M a year???? maybe 1/1000000 yeah....but otherwise, go back to sleep and dream man!!!!!

 

[alpha_monkey]

The guys in structoring make shed loads more than the traders........structored products is the place to be......

re twalker:
if we're all in it for the cash and the thrill of the deal i know where i'd rather be. but then, i'm just a eurostoxx spot jockey....... whoops.

 

[Robertral]

re twalker:
if we're all in it for the cash and the thrill of the deal i know where i'd rather be. but then, i'm just a eurostoxx spot jockey....... whoops.

is that you tim???????

 

[alpha_monkey]

is that you tim???????

don't think so. where does tim trade?

 

[BBB]

Robertral - Does your boss know you are on the internet in HIS time? Get back to work son. Quick, better start crunching those numbers for him. Never mind, soon be lunch time and you can have your hour of freedom.

As for the 21 year olds - some are not trading anymore. Some went to IPE, some went on the screens.

The markets are still there, and so therefor are the opportunities. The fact that you cant see this suggests you don't have any confidence in yourself or your ability, or that you just dont understand the markets. Im not saying its easy or simple, just that it can be done - and not by superhumans.

Just a guess, but by what you have posted, I would think that you probably haven't grasped what drives the markets, and you would rather hide behind an equation that you do understand in order to get a grip on things. I may be wrong here, but I'd also assume that this type of person would also rather work for someone else for a safe even salary than put their balls where their thinking (equation) is. You're afraid to be wrong.

Good luck.

 

[TWI]

"I'm resourceful, I'm creative, I'm young, unscrupulous, highly motivated, highly skilled. In essence what I'm saying is that society cannot afford to lose me. I'm an ASSET"

How interesting.

 

[Robertral]

Robertral - Does your boss know you are on the internet in HIS time? Get back to work son. Quick, better start crunching those numbers for him. Never mind, soon be lunch time and you can have your hour of freedom.

As for the 21 year olds - some are not trading anymore. Some went to IPE, some went on the screens.

The markets are still there, and so therefor are the opportunities. The fact that you cant see this suggests you don't have any confidence in yourself or your ability, or that you just dont understand the markets. Im not saying its easy or simple, just that it can be done - and not by superhumans.

Just a guess, but by what you have posted, I would think that you probably haven't grasped what drives the markets, and you would rather hide behind an equation that you do understand in order to get a grip on things. I may be wrong here, but I'd also assume that this type of person would also rather work for someone else for a safe even salary than put their balls where their thinking (equation) is. You're afraid to be wrong.

Good luck.

Amazing...what's your problem dude????
I have a load of confidence in my ability, but I know the line between fantasy dreams and reality.....those £40M days have gone, only a select few can earn anything near that....You keep on plugging away at your home computer and maybe one day when you fall asleep at your computer, because you have finished your 2 trades for the day, and you will fall into a dream world where you are on £40M a year.......happy day dreams old boy!!!!
I hate to come down to this school boy level, but "you started it"

 

[Airthrey Capital]

"I'm resourceful, I'm creative, I'm young, unscrupulous, highly motivated, highly skilled. In essence what I'm saying is that society cannot afford to lose me. I'm an ASS"

Even more interesting...

 

[Robertral]

"I'm resourceful, I'm creative, I'm young, unscrupulous, highly motivated, highly skilled. In essence what I'm saying is that society cannot afford to lose me. I'm an ASS"

Even more interesting...

Wow so quick....so witty......

 

[TWI]

There is also a "...not" in there that once removed makes it far more pleasing and much more worthy of respect.

 

[Airthrey Capital]

Wow so quick....so witty......

Thank you.

 

[splasher]

I doubt if a truly great trader could tell you exactly how he is great but i bet he loves the markets and believes that coming to work is the best thing in the world.
The great ex floor traders mentioned on other threads were great on the floor and are great in offices huh TW?
I bet they come in every day and work all day, sure they probably have long exotic holidays but when they are home they wouldn't waste a day sitting round at home watching TV they will be in their office trading.
The difference is they love what they do, have a feel for markets and the confidence to trade what they see.
I'll bet that great IPE locals didn't punt some oil around between £22 and £27 and then deceide to disappear with their winnings, the taste will have kept them trading it evey day up to £38 in and out.

A degree doubtless helps entry to the banks but to really trade you've got to be doing it because you love it and the money is an additional benefit.

I'm sure BBB and TW have plenty of examples of traders who don't need to be there but are in every day, that i believe is the difference, all the rest is just noise

 

[BBB]

Robertral - I dont make 2 trades a day actually.

I MAKE 3!

On a good day I've been known to make 4 so run that through your non linear, multi correlation, random number generator.

Anyway, who mentioned £40million a day?? Not me - it was £4million pa. £4 million isn't uncommon amongst good traders. I hope you dont make these kind of mistakes when your crunching those numbers for your boss.

''only a select few can earn anything near that'' Its these kind of words that make me form this opinion. 'only a select few' That makes me laugh. Who's doing the selecting? Unless it's you, you aint ever going to be one of them are you. Im only trying to help you see the potentials open to someone who is so resourceful and such an asset .

Q What do you call a PhD at Merrill Lynch?
A Teaboy.

No thanks.

 

[BBB]

Splasher - thats right. It's love of what you do that makes you successful, not qualifications. Some of the best guys I know fall into 2 types - those who trade all the time, or those who just trade for a few hours a day or a week and go enjoy life the rest of the time - they still enjoy trading but also want to spend more time with their family and friends.

I'm between the two. I enjoy trading very much (obviously), but I dont trade every day, but when I do I am fully inthere with little thoughts elsewhere. I probably trade 3-4 days of the week. Sometimes there just insn't anything for me for the way I trade so I stay out.

Our friends in the bank cant do that. Trade or you're fired. Make x% or you're fired. MAke me my money or you're fired. What do you mean you want to go home and see your family or go out with your mates? You've only done a 14 hour day you lazy sod. - no thanks.

 

[steve34]

dear all,

I read with humour all these past threads, it is not everyday that I laugh out load.
As someone with no degree and only a cse in maths (if you remember them) I can only agree with bbb. Icouldnt read a chart 3 months ago I can just now. But trade the market both up and down with instinct and balls taking profits where I can.
My thoughts if due any note are you can just take things far too seriously get too much information and never go with anything.
Wouldnt life be dull

Anyway great thread :cheesy: :cheesy: :cheesy: :cheesy: :cheesy:

 

[neil]

"I'm resourceful, I'm creative, I'm young, unscrupulous, highly motivated, highly skilled. In essence what I'm saying is that society cannot afford to lose me. I'm an ASS"

Even more interesting...

 

[Robertral]

Robertral - I dont make 2 trades a day actually.

I MAKE 3!

On a good day I've been known to make 4 so run that through your non linear, multi correlation, random number generator.

Anyway, who mentioned £40million a day?? Not me - it was £4million pa. £4 million isn't uncommon amongst good traders. I hope you dont make these kind of mistakes when your crunching those numbers for your boss.

''only a select few can earn anything near that'' Its these kind of words that make me form this opinion. 'only a select few' That makes me laugh. Who's doing the selecting? Unless it's you, you aint ever going to be one of them are you. Im only trying to help you see the potentials open to someone who is so resourceful and such an asset .

Q What do you call a PhD at Merrill Lynch?
A Teaboy.

No thanks.

BBB - I certainly didn't mention £40M a day...I said "those £40M days"....pretty different!!!! I hope you don't make those kind of errors when you do your 4 daily FTSE a day!!!!!!
Also don't get jealous of us guys that use a more mathematical approach to our trading than just sticking our finger in the air and saying "hhhhhhmmmm I got up on the left side of the bed today..I will buy the FTSE today"

Crunching numbers???? a little more than that old boy....Trader / Qaunt.....Now go back to throwing darts at your copy of the FT.....

 

[BBB]

Steve 34 - Good stuff. Keep at it.

Its not just trading either.

Look at Bernie Eccleston. In fact, look at most of the self made millionaires in this country. Most of them have very little in the way of a formal education. A lot of them have had to come over a lot of personal disadvantages to get there - but they have.

 

[Robertral]

Steve 34 - Good stuff. Keep at it.

Its not just trading either.

Look at Bernie Eccleston. In fact, look at most of the self made millionaires in this country. Most of them have very little in the way of a formal education. A lot of them have had to come over a lot of personal disadvantages to get there - but they have.

Get with the times........now please be quiet...some of us have more than 5 deals going through their book

 

[BBB]

I dont have a problem with a mathematical/statistical approach Robertral - or anyother method. I know people who use it well - but only because they also use intuition and dont rely on it 100%.

So what are you doing if not crunching numbers? Crunching BIG numbers, or crunching fractions?

I dont throw darts at the FT either. I throw darts at the Wall St Journal - the sample size is larger so Im assured a more random result. You should know that.

Speaking of random numbers - a good intuitive trader CAN make money with random entries. Can your palm pilot or what ever it is you use to trade on?