Should I study Economic or Finance? | Page 2 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Is quantitative finance (or mathematic finance) necessary? 5 replies

Emacsen Study, Study, Study 0 replies

outside day study 1 reply

Vwb Chapter 3 Study 84 replies

Thread Admin: Should I study Economic or Finance?

Posting Controls

Edit Thread Title

Edit Time Remaining: Expired

Linked Trade Explorers

Attached Poll

There is currently no poll. Add Poll

Should I study Economic or Finance?

  • #21
  • Aug 10, 2008 12:33pm Aug 10, 2008 12:33pm
Quote
Some traders can benefit from having programming skills, while others don't need much more than a simple chart to become highly successful.
The dispassionate discipline of a logical mind is useful regardless, it is a skill taught in coding. And how do you think valid chart patterns come to be recognized? Thru statistical analysis. Should these patterns change an ability to search for new ones will prove invaluable.

The trend in this business is more automation. Anything you need to learn about economics you can pick up in a single class, anything you need to learn about finance you can pick up from Suzy Orman or a book on the subject. Any professional in any field will continue to stay educated on a variety of subjects over their life, so you can expect to read a lot over time.

All of that information is handy in it's own way, to be sure, but what formal topic is your time best spent on in university in order to pursue some trading-related (non-analysis) field? Follow the trend... the trend is not to hire more ppl with an MBA or a masters in economics (or finance) for sure.

That was 30 years ago, and when those managers are replaced... what do you think the new ones will look for?
  • #22
  • Edited 12:57pm Aug 10, 2008 12:55pm | Edited 12:57pm
I have after reading FF threads for 6 weeks found myself a bit jealous at those that are able to comprehend and engage in "programming." At the same time I wonder how valid all of this programming really is. Maybe you guys and gals can help me get a better grasp on this stuff. We know the market movers use S&R, Fibs and many other things. We know that in using them ourselves we are essentially following the money and that is a good thing. Emulate the market movers and piggy back their posistions right?
What I dont understand is all this metatrader, programming, indicator heavy stuff and especially the expert advisors.....isn't all of this stuff mumbo jumbo....or is just some of it mumbo jumbo and how can one tell the difference?....and is anyone incenuating that one day or as we speak there could be a migration toward these programming, indicator based ways of trading on the part of market movers....instantly giving it more validity?
The way is narrow
  • #23
  • Aug 10, 2008 1:09pm Aug 10, 2008 1:09pm
If you want to be a trader...study human nature www.socionomics.com hit the Historys hidden engine icon to start your path
  • #24
  • Aug 10, 2008 1:28pm Aug 10, 2008 1:28pm
Quoting 12345abc
If you want to be a trader...study human nature www.socionomics.com hit the Historys hidden engine icon to start your path
I am watching it right now. Very interesting correlations.
  • #25
  • Aug 10, 2008 2:10pm Aug 10, 2008 2:10pm
The further you investigate the clearer the pictures off the charts become....
  • #26
  • Aug 10, 2008 2:53pm Aug 10, 2008 2:53pm
Quoting karmostaji
Study the chart
Lol, that could be useful.
  • #27
  • Aug 10, 2008 3:39pm Aug 10, 2008 3:39pm
Quoting Rabid
The dispassionate discipline of a logical mind is useful regardless, it is a skill taught in coding. And how do you think valid chart patterns come to be recognized? Thru statistical analysis. Should these patterns change an ability to search for new ones will prove invaluable.

The trend in this business is more automation. Anything you need to learn about economics you can pick up in a single class, anything you need to learn about finance you can pick up from Suzy Orman or a book on the subject. Any professional in any field will continue to stay educated on a variety of subjects over their life, so you can expect to read a lot over time.

All of that information is handy in it's own way, to be sure, but what formal topic is your time best spent on in university in order to pursue some trading-related (non-analysis) field? Follow the trend... the trend is not to hire more ppl with an MBA or a masters in economics (or finance) for sure.

That was 30 years ago, and when those managers are replaced... what do you think the new ones will look for?

I have no doubt there will be more automation in the future.

I personally believe that humans can perceive many things that a computer cannot. Things like intuition, market sentiment, subconscious market understanding. A human can develop a certain 'feel' for the market and that can give him a better degree of flexibility than a more automated approach. Of course there are negatives to this approach as initially you have to deal with more emotions, lack of discipline, but I feel that I have the capacity to overcome them and develop the skill necessary to make my type of trading work. Those are some of my core beliefs about trading and they help to shape the type of trading methodology/system that will fit my personality.

I guess it just depends on what your goals are in life. Do you want to be working for another company? Or do you want to be a trading your own account?

If you want to be working for another company, then you may want to add programming to your skill set as you just mentioned above.

If you want to make it on your own, well then that gives you a bit more flexibility in what you want to study.
Private message me for a link to my order flow website.
  • #28
  • Aug 10, 2008 3:55pm Aug 10, 2008 3:55pm
Quote
I guess it just depends on what your goals are in life. Do you want to be working for another company? Or do you want to be a trading your own account?

If you're working on your own it doesn't matter what you study, since nothing you can study will adequately prepare you for trading live except trading live. So what's the point of the topic then?
  • #29
  • Aug 10, 2008 5:03pm Aug 10, 2008 5:03pm
Quoting Rabid
If you're working on your own it doesn't matter what you study, since nothing you can study will adequately prepare you for trading live except trading live. So what's the point of the topic then?
Let me clear it up.

Do you want to be trader for another company or do you want to be self employed as a trader? With both you do trading live.

You said in your previous post that employers will be looking to hire traders that have programming skills. Thats fine, but if your not planning on being a trader for a company, you can scratch that reason off your list for learning programming.

The thread starter gave little information as to what he is looking for other than that he loves forex. Anyways this is all in response to your post about "what trader wouldn't benefit from better programming skills?"

All I'm trying to say is that it really depends on your methodology/system in regards to whether better programming skills will really help you. You responded that automation is the trend. Thats fine and it may give him another reason to pursue the programming route.

But he does have other options as there are many different ways to trade, some which don't require programming skills.

Even if more automation comes, I'm not afraid as I know what my edge is and no computer statistical chart pattern finder can take it away from me.
Private message me for a link to my order flow website.
  • #30
  • Aug 13, 2008 11:50am Aug 13, 2008 11:50am
Fundamental trader should learn Economic, finance, geographic, politics, psychology, astronomy and medical.
  • #31
  • Aug 13, 2008 12:31pm Aug 13, 2008 12:31pm
Quoting blucky
Fundamental trader should learn Economic, finance, geographic, politics, psychology, astronomy and medical.
Don't forget Tarot cards.
  • #32
  • Aug 13, 2008 1:22pm Aug 13, 2008 1:22pm
Quoting Ronald Raygun
Don't forget Tarot cards.
and a crystal ball
  • #33
  • Aug 13, 2008 10:08pm Aug 13, 2008 10:08pm
Quoting Ronald Raygun
Don't forget Tarot cards.
Quoting rogerdoger
and a crystal ball
  • #34
  • Aug 14, 2008 2:37am Aug 14, 2008 2:37am
economic
  • #35
  • Sep 4, 2008 8:22pm Sep 4, 2008 8:22pm
Quote:
Originally Posted by Ronald Raygun http://www.forexfactory.com/images/buttons/viewpost.gif
Don't forget Tarot cards.

Quoting rogerdoger
and a crystal ball
Don't laugh too fast about tarot cards and crystal balls...

You'd be surprised at how the some of the "big boys" make decisions behind closed doors. If you think that divination - like the use of the i ching - sounds far fetched, just read The Money Game by Adam Smith. It is considered a classic.

http://www.amazon.com/Money-Game-Ada.../dp/0394721039

Success is not necessarily a left-brain endeavor. All these "alternative" ways of gaining insight tries to tap into the right-brain knowledge
  • #36
  • Last Post: Sep 4, 2008 8:48pm Sep 4, 2008 8:48pm
Here is the only tool you will need..... Master FX tool
Same Whore .... Different Dress
0 traders viewing now