|
|
#22
02-23-2006, 11:21 PM
|
|||
|
|||
Re: Quickest path for me to become a trader
[ QUOTE ]
from the comments of this thread, it seems like trading is much harder than poker even though they require many similar skills. what do you think who have done both? [/ QUOTE ] Well I have no opinion on day trading or trading equities. As far as derivatives trading goes, it simply has much higher barriers of entry than poker. It requires more capital and it is harder to get meaningful experience cheaply. The skill sets are similar, although successful sportsbetting (especially sportsbetting statistical arbitrage) is very similar to derivatives trading. 
|
|
#24
02-24-2006, 10:11 AM
|
|||
|
|||
|
Re: Quickest path for me to become a trader
Thanks for this, I knew you were an expert. I'm looking for a solid options pricing model on the web. I'm sure you can point me to 1 or 2 you know are good. How about a couple suggestions?
|
|
#25
02-24-2006, 10:13 AM
|
|||
|
|||
|
Re: Quickest path for me to become a trader
Anyone just starting out is not going to have the capital or the risk tolerance to take advantage of being on their own. [/ QUOTE ] Definetly not true. I was a prop trader for Andover for a yr with no experience. I started with 25,000 which for any pro poker player should not be that hard to come up with. The MOST IMPORTANT thing in trading is to have a good teacher.... Generally, you will be getting 10x buying power so you will technically have 250,000 to trade but you will almost NEVER be fully committing that 250,000. Your first 6weeks you will mostly be watching your teacher and trading along in 100-200 block shares just getting a feel for the keyboard ( have to be excellent with the keys)..and eventually you will be trading 1000 shares+. But now, with all of the black box trading programs, unless you have someone who can write programs, JUST trading is realllly tough and will probably be obselete soon. Just my opinion.. Good luck Summary: If you are going to start trading, make sure you get a top-notch trader that will be profiting from your trading so that its really worth it for him to take the time to teach you correctly. When you start out, you will be paying higher $$ for tickets you write and he will be earning $$ off of every ticket you write so he will have a vested interest in you doing well... Hope i helped
|
|
#26
02-24-2006, 11:16 AM
|
|||
|
|||
|
Re: Quickest path for me to become a trader
[ QUOTE ]
Thanks for this, I knew you were an expert. I'm looking for a solid options pricing model on the web. I'm sure you can point me to 1 or 2 you know are good. How about a couple suggestions? [/ QUOTE ] sorry, i can't really talk about trading strategies or anything of that nature.
|
|
#27
02-24-2006, 11:24 AM
|
|||
|
|||
|
Re: Quickest path for me to become a trader
Hey Paluka,
I'm interested in your top 10 books on options and futures and other derivatives. I own Larry McMillans OPTIONS AS A STRATEGIC INVESTMENT and MCMILLAN ON OPTIONS. What are the top 10 options and futures books in your opinion? No need to qualify-- just list them. Thanks in advance Now
|
|
#30
02-24-2006, 01:20 PM
|
|||
|
|||
|
Re: Quickest path for me to become a trader
Its one of the toughest business to get into...you have to start at the bottom and work yourself up...turnover rate is really high...
If i were you i would look into getting a CFA....you could take the first level twice a year... and try moving to NYC...thats where all the jobs are~
|
 |
|
|
Linear Mode
