rustyrussel Posted November 19, 2008 Report Share Posted November 19, 2008 Hi all Apols from a noob if its bindun but I was wondering - what is your job in the real world? I run a hotel by the seaside and can actually lay claim to having a job I enjoy, I know how rare that can be! Just wondering really, I guess we're from all walks of life but be interesting to hear your stories... RR Link to comment Share on other sites More sharing options...
Pugwash Posted November 19, 2008 Report Share Posted November 19, 2008 I work for a small marketing company as a sysadmin. We have huge clients, clients you have heard of, and I manage the servers for the sites we do for them. It's diverse and interesting and, due to the nature of the clients, we're not suffering as much as other marketing companies getting culled by cut-backs. Link to comment Share on other sites More sharing options...
rustyrussel Posted November 19, 2008 Author Report Share Posted November 19, 2008 Spending all day working with computers would tempt me away to rwg more then strictly helpful Even though I'm full on at work I still manage quite a few crafty reads Link to comment Share on other sites More sharing options...
hambone Posted November 19, 2008 Report Share Posted November 19, 2008 I am an art gallery director. Been in this business all my life. Link to comment Share on other sites More sharing options...
rustyrussel Posted November 19, 2008 Author Report Share Posted November 19, 2008 I am an art gallery director. Been in this business all my life 3 extremes already, interesting stuff..... Link to comment Share on other sites More sharing options...
McRae Posted November 19, 2008 Report Share Posted November 19, 2008 I fiddle with race cars for a living... 4 weirdos... Link to comment Share on other sites More sharing options...
RobbieG Posted November 19, 2008 Report Share Posted November 19, 2008 Owner/principle trader of a small private equity long/short hedge fund. We also have a new business unit which develops automated trading and hedging system software for investment banking and larger fund of funds clients. The goal in the relative short run being to white label enough of my software systems to replace the income from managing client capital, which is lucrative but brutal... Link to comment Share on other sites More sharing options...
rustyrussel Posted November 19, 2008 Author Report Share Posted November 19, 2008 Owner/principle trader of a small private equity long/short hedge fund. We also have a new business unit which develops automated trading and hedging system software for investment banking and larger fund of funds clients. The goal in the relative short run being to white label enough of my software systems to replace the income from managing client capital, which is lucrative but brutal... Can you teach me all you know, I'll swop you a PAM253 with a shattered crystal Link to comment Share on other sites More sharing options...
b16a2 Posted November 19, 2008 Report Share Posted November 19, 2008 Third year law student who has just been accepted onto a FTSE 100 grad scheme when I graduate, and they're going to sponsor me through the rest of the year......out to celebrate Link to comment Share on other sites More sharing options...
rustyrussel Posted November 19, 2008 Author Report Share Posted November 19, 2008 Third year law student who has just been accepted onto a FTSE 100 grad scheme when I graduate, and they're going to sponsor me through the rest of the year......out to celebrate nice one, I only hope there's still a FTSE 100 worth being a part of when you graduate Link to comment Share on other sites More sharing options...
houndoggie Posted November 19, 2008 Report Share Posted November 19, 2008 I pull teeth, amongst other things. Link to comment Share on other sites More sharing options...
rustyrussel Posted November 19, 2008 Author Report Share Posted November 19, 2008 I fiddle with race cars for a living... 4 weirdos... pffft. I WANT YOUR JOB (probably) Link to comment Share on other sites More sharing options...
RobbieG Posted November 19, 2008 Report Share Posted November 19, 2008 Here's all I know: 1. Nobody can predict market direction. Anyone who says they can just wants to get your money. 2. Small but consistent profits are easy to achieve if you can manage greed and fear. 3. Leverage can turn those small profits into big ones with very manageble risk if you have confidence in your model. Not to be confused with confidence in the individual trades. 4. Succesful long/short technical trading is just like playing blackjack in Vegas. I am a good card counter so most of the good blackjack seats in Vegas are unavailable to me. They won't let me play. There is a reason for that. It is because in the long run I can neutraize the house edge and I figure to win. They don't like that. It doesn't mean however that I will win every session. After all it is a game of chance. Or is it? Yes and no. Math is math and there are small but consistent profits in the long run if you can play long enough to achieve your expectation. In trading the S&P500 every day I can play long enough, but I don't win every day. Far from it. Last year I won 42% of my trades and booked a 72% annual return in my principle asset class. That return un-levered would have been 12%. But I had the confidence to lever at 6:1. That is the dirty secret of trading models. Most don't return much but if the confidence of the math distributing the same every month is high it gives you the confidence to correctly bet more without taking on additional risks. Simple and elegant but it took me 20 years to figure out how to do it in the way that works for me consistently. 5. Quite simply put everyone could do what I do if they had the discipline. It is 100% mechanized. But most can't or won't because of psychology or discipline or both. They just can't sit and lose a lot without thinking they are failing. They also probably don't understand how to manipulate the math to better understand what it is that they do. Most want to react to what they see and I realize that what I see is not rational. The best thing I can do is not try to have an edge and be purposefully unbiased so as to make the game of trading most like a gambling game. That is to say an even money proposition. The closer the numbers are to 50/50, they easier it is to evaluate the management of individual trades so as to achieve the cardinal rule. Win some. Lose some. But always try to win a hair more than you lose... Link to comment Share on other sites More sharing options...
notimetowaste Posted November 19, 2008 Report Share Posted November 19, 2008 New doctor. I figured I need to pay off student loans rather than buy gens for now. Reps are addicting. Although dealing with customs and shipping seems to suck. DJ Link to comment Share on other sites More sharing options...
spooky driver Posted November 19, 2008 Report Share Posted November 19, 2008 I'm a male nurse in the NHS Link to comment Share on other sites More sharing options...
rustyrussel Posted November 19, 2008 Author Report Share Posted November 19, 2008 Here's all I know: 1. Nobody can predict market direction. Anyone who says they can just wants to get your money. 2. Small but consistent profits are easy to achieve if you can manage greed and fear. 3. Leverage can turn those small profits into big ones with very manageble risk if you have confidence in your model. Not to be confused with confidence in the individual trades. 4. Succesful long/short technical trading is just like playing blackjack in Vegas. I am a good card counter so most of the good blackjack seats in Vegas are unavailable to me. They won't let me play. There is a reason for that. It is because in the long run I can neutraize the house edge and I figure to win. They don't like that. It doesn't mean however that I will win every session. After all it is a game of chance. Or is it? Yes and no. Math is math and there are small but consistent profits in the long run if you can play long enough to achieve your expectation. In trading the S&P500 every day I can play long enough, but I don't win every day. Far from it. Last year I won 42% of my trades and booked a 72% annual return in my principle asset class. That return un-levered would have been 12%. But I had the confidence to lever at 6:1. That is the dirty secret of trading models. Most don't return much but if the confidence of the math distributing the same every month is high it gives you the confidence to correctly bet more without taking on additional risks. Simple and elegant but it took me 20 years to figure out how to do it in the way that works for me consistently. 5. Quite simply put everyone could do what I do if they had the discipline. It is 100% mechanized. But most can't or won't because of psychology or discipline or both. They just can't sit and lose a lot without thinking they are failing. They also probably don't understand how to manipulate the math to better understand what it is that they do. Most want to react to what they see and I realize that what I see is not rational. The best thing I can do is not try to have an edge and be purposefully unbiased so as to make the game of trading most like a gambling game. That is to say an even money proposition. The closer the numbers are to 50/50, they easier it is to evaluate the management of individual trades so as to achieve the cardinal rule. Win some. Lose some. But always try to win a hair more than you lose... As I said I'm just a hotel owner by the sea, however, when I consider how it is out there atm I feel like I got it easy. I spose you think you warrant the Pam253? you gotta do better then that man. Link to comment Share on other sites More sharing options...
RobbieG Posted November 19, 2008 Report Share Posted November 19, 2008 Well I gotta figure when my industry is down 35% or so and I'm up nearly double that YTD, I pretty much would have to set the line at one of every gen PAM in the lineup for starters as a fee for shared knowledge. I was thinking of instituting a watch in liue of cash bonus system with our clients anyway so maybe you can be the alpha dog on that front? Link to comment Share on other sites More sharing options...
rustyrussel Posted November 19, 2008 Author Report Share Posted November 19, 2008 Well I gotta figure when my industry is down 35% or so and I'm up nearly double that YTD, I pretty much would have to set the line at one of every gen PAM in the lineup for starters as a fee for shared knowledge. I was thinking of instituting a watch in liue of cash bonus system with our clients anyway so maybe you can be the alpha dog on that front? Kudos to you man, lemme think about it.... OK! thought about it...................... NO...! I would need tangibles bro not maybes Link to comment Share on other sites More sharing options...
bvc Posted November 19, 2008 Report Share Posted November 19, 2008 Made a Link to comment Share on other sites More sharing options...
rustyrussel Posted November 19, 2008 Author Report Share Posted November 19, 2008 Made a Link to comment Share on other sites More sharing options...
maxlawbr Posted November 19, 2008 Report Share Posted November 19, 2008 I'm a Lawyer (own a small law office), and work in a construction company. Link to comment Share on other sites More sharing options...
jjfesq Posted November 19, 2008 Report Share Posted November 19, 2008 Partner in a NY Law firm. I live for trying cases in court! Link to comment Share on other sites More sharing options...
rustyrussel Posted November 19, 2008 Author Report Share Posted November 19, 2008 I make that 12 weirdos and counting... unsurprisingly we're all different - still interests 2c what goes on, there are (so far) no 'ordinary' jobs - not sure if that means anything. Link to comment Share on other sites More sharing options...
bvc Posted November 19, 2008 Report Share Posted November 19, 2008 Depends mate. do I owe you money? Link to comment Share on other sites More sharing options...
rustyrussel Posted November 19, 2008 Author Report Share Posted November 19, 2008 Depends mate. do I owe you money? errrr. 'yes?' Link to comment Share on other sites More sharing options...
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