Banks like Credit Suisse need a trader with programming skill to succeed, sorry who are into cavemen fossil chart click trading?
Sorry for all those ‘cavemen’ losing their jobs. For the masses learning Python, it will work for a little bit you will quickly hit many walls.
The industry expects you be a solid programmer but the fossils known aas day traders and retails traders are going by the way of the Dodo. Another useful article found at QuantNet.com
A recent NYT article sheds light on how the trading landscape has been changing on Wall Street, due to technological advances as well as regulatory reforms such as the Dodd-Frank financial legislation.
The article makes clear that technology has been and will play a HUGE part in the industry as an increasing volume of trading occurs over automated exchanges as required by laws or other factors.
“The increased use of automated platforms means that more programmers are needed, but fewer employees over all.”
The trading desks at Credit Suisse are demonstrations of how changes have transformed the type of trading and traders needed for the job.
It says when you trade, you are going against the big boys and the playing field is not level as a result. It says to keep your emotions in check but this is why systematic or automated trading could be better since it removes the emotion. The forex market can make you super wealthy or get eaten alive. The secret to succeeding is understanding how the money makers work. Understand the market and why it is there to serve you. It says never to bet based on candles or other technical trading concepts. You are up against the smartest institutions in the world so think carefully about your strategy. In conclusion:
All is fair in love and war, and trading seems to have a strange blend of them both. No one is going to trade like you, and successful trader understand this principle. If you want to win and raise the percentage of loser, you’ll need to inject your own autonomy into the process. You will never win trying to do it like someone else, be your own person and show your brilliants to the rest of the trading world. The next time you act to place a trade, remember who you are trading against and consider what you see as fact or fiction. Be in control of your emotions and PLAY YOUR GAME.
data mining vs data visualization, what is the differences?!?!?! what knowledge/skills should acquired in order to successful in these 2 area?
Data mining is the process of sorting through large amounts of data and picking out relevant information (from Wiki). It is used to gather the historical or real-time information needed for identify patterns in how data attributes change over time. in the data. Patterns in your data may allow you to identify opportunities for predictive analysis, trend forecasting, etc.
Visualization refers to the methods analysts use to present the data and findings (conclusions, further questions) related to that data.
Know different importance of fundamental analysis vs technical analysis to succeed in the forex market
While fundamental analysis tries to estimate the value of an asset, technical analysis does not care at all about determining its underlying value. Technical analysis just looks at the charts; you can concentrate solely on price movements. Simply put, technical analysis focuses on the supply and demand in the market to decipher what will happen next. If you’re going to rely on technical analysis, make sure you understand the very basics very well. Once you know the basics, you’re already set to start recognizing formations and will be able to use technical patterns to trade currencies.
Which Should You Use?
A well-informed trade in any market requires a combination of both fundamental and technical analysis. The question is to what extent you should rely on each. How many factors should you take into account? How deep should you dig into either? Which holds more weight? If one reveals optimism and the other pessimism, which should you rely on? When you figure out the answer to these questions, which may vary for each currency pair or stock or whatever you’re trading, you will be able to answer an even bigger question: what kind of trader are you and what is your overall strategy?
Either way, one thing is for sure: it is impossible to predict market movement, and choosing one while totally ignoring the other can be a very costly mistake or recipe for disaster. Employing both strategies is your best option. For instance, if use fundamental analysis to find an undervalued currency, you should then utilize technical analysis to determine the best time to purchase that currency. You can gain more from the investment in the currency if you purchase it when the currency is being oversold.
There are many services out there that have their own strategies and algorithms based on fundamentals or technicals or a combination of both, and some are more proven and successful than others. If you decide to use a service, be sure to do research on all the available options.
You will need to stay open-minded and recognize that your strategy will change and sometimes you need to re-evaluate. The time of season may also affect your decisions – for example, fundamental analysis, which depends heavily on financial statements, may be more influential around earnings season, whereas technical analysis may be more appropriate in determining how the season/month of the year typically influences currencies or stock prices.