Day Trading Stocks & Futures

[cinderblock]

Most traders are "engineers" or "pure science" or math grads first and CFA later. CFA is only required to fulfill SEC laws. No one really cares about the CFA degree. No one really cares about MBA either

If you are a math whiz, they wouldn't care if you completed your degree! This is specific for "trader" profiles.

 

[sumosanammain]

Out of, say, 100 instl investors and 100 newbies, how many will "succeed" in trading? - Starting from scratch.

Depends on they psychological profiles.
I would say, more newbies would succeed as they are eager to learn, and know that they are not experts.
Also, a lot depends on how the first few trades pan out. If the first few trades are winners, that newbie is doomed to fail, most of the time.
I would say, without mental conditioning, no one can make it big. There is a difference in making money and keeping it

 

[sumosanammain]

Most traders who work in banks are CFAs. CFA is more oriented towards fundamental analysis. They do also learn TA, but that is not considered as the 'main subject'. The Techinical analysis part in those organisations is handled mostly through computer systems. You do not see many Technical Analysts spanning the organisation. Risk management teams are different and they drive it again through computer controls. Software people are paid well in Investment banks.

TA is mainly for entry/exit timing and also for splitting the trades into smaller lots.

Take away their teams, put them in a room with trading infra and capital, and watch them loose. I say that, as I have seen this happening

 

[sridhga]

Most traders are "engineers" or "pure science" or math grads first and CFA later. CFA is only required to fulfill SEC laws. No one really cares about the CFA degree. No one really cares about MBA either

If you are a math whiz, they wouldn't care if you completed your degree! This is specific for "trader" profiles.

Are you referring to prop desk?
But in Mutual funds people do respect CFA as well as Top MBA schools.

 

[Smart_trade]

nice sumo bhai, i'm imagining you & kids getting down from a Rolls and eating roadside golgappas

Why should we do ANYTHING to gain acceptance from anyone.
If my child wants a car, I will buy one. Not to show my relatives that I have arrived in life.
My children love both fine dining as well as street food, equally. I know a relative who never takes his children to eat street food. His children crave street food, but they are not allowed to get down from their jaguar and eat street food.

Traders want people to respect them atleast not disrespect them...atleast I got that impression from the posts here.....for people to respect you the success is measured in wordly possessions like flats, cars...you cannot wear your Dmat statement/ bank statement around your neck for people to respect your success...else dont expect any respect from people...that is a stage of self actualisation for traders.....

 

[Smart_trade]

Reliance PP over 6 % up....you can like Reliance, hate reliance but you cannot ignore Reliance........

 

[sumosanammain]

Traders want people to respect them atleast not disrespect them...atleast I got that impression from the posts here.....for people to respect you the success is measured in wordly possessions like flats, cars...you cannot wear your Dmat statement/ bank statement around your neck for people to respect your success...else dont expect any respect from people...that is a stage of self actualisation for traders.....

Why should I expect respect from anyone. I have people around me who love me for what I am, Not my financial status. I have been almost bankrupt about a decade ago. I still had those friends. I still do. Who cares what people think. I would never do anything to show off. Not that I havent ever done it. I have been guilty of going overboard, getting my sister married. Showing off. Didnt make much of a difference to me. So, i realised, I am better off making my family happy.

Once a person stops expecting anything from anyone, he goes into a zen state. I am still not there, though on the way.

 

[Smart_trade]

Why should I expect respect from anyone. I have people around me who love me for what I am, Not my financial status. I have been almost bankrupt about a decade ago. I still had those friends. I still do. Who cares what people think. I would never do anything to show off. Not that I havent ever done it. I have been guilty of going overboard, getting my sister married. Showing off. Didnt make much of a difference to me. So, i realised, I am better off making my family happy.

Are bhai Sumo...the whole discussion started from one trader saying that people dont respect traders........you are a special case...you are above self actualisation.......

 

[Smart_trade]

Anyways...my last post on this topic...it is more important to book profits on my stocks bought yesterday....

 

[kharikumaar]

this drunken sailor movement of bank nifty today must have taken out lots of stops , both sides