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I doubt you have a real execution edge in vanilla equities unless you are running some sort of a DMA system. My sense is that your tricks are likely to be just part of your retail-size edge (i.e. you are more sophisticated than an average retail size trader, so you get away with being undetected).

Mhmm. Large trader registration is required if you are doing 2 million shares or $20 million in dollar volume a day (or 10x of that a month).

Nope, not biggest. Bank of America lost ~20 million on their "arbitrage" portfolio in 2014 - forgot to early exercise their long calls.

Why is it stupidity? The guy is simply asking for a way of signal normalization other than time. For example, for some applications (especially intraday trading), using volume bars makes a lot of sense.

A systematic trader should (and after a while always does) know that things don't work forever and that you can get carried out on an event etc. With regard to uncertainty she's similar to a discretionary trader; in fact I'd argue that systematic trading is a continuum with different traders...

LOL. Someone has been reading wallstreetbets :)

Considering the conversation I had with them yesterday about my IRA, you are WAAAY overqualified :D

Hedging is the wrong word for this crossword puzzle, the real word starts with the letter "M" :D

Windows Server is far more reasonable than their retail offering. Still, the amount of control Linux provides is order of magnitude higher. For some of us, it's useful and for some crucially important. Windows 10 Home pushes ads continuously as notifications. Windows 10 Pro also shows...

That's not true. Lack of applications for the daily life is what makes Linux difficult to use as a desktop user. LibreOffice is nowhere near equivalent to MS Office, you are being delusional. Same goes for Gimp - there is a reason why graphic designers are paying for the Adobe suite of...

You do realize that pretty much all systematic trading is done on linux servers? If your shop uses windows for your trading boxes, you are an exception. My shop uses Linux for all of our server needs, Windows for the desktop (cause it runs Bloomberg, really) and OSX for developers. So I do...

So I read the contract definition and it's going to be settled with powdered water that has to be physically delivered. I am not sure how that works.

Actually, the further East you go, the flatter the index skews get. The must be something in the water there :)

Maybe he means stuff that's trading at the min increment? I've been a market maker across multiple asset classes and have never heard anything referred to as "unit" except for 1 million dollars.

Well, milk isn’t, for example :)

This is not an SEC rulebook, but is an opinion presented by a consultant way back in 2000. The definition in the FINRA rule book specifically states that you have to have advance knowledge of the upcoming transactions. Otherwise, everyone who's recommending a trade to their aunt will be guilting...

apropos: https://www.bloomberg.com/opinion/articles/2020-12-06/which-covid-19-rules-are-useless-too-many-of-them

Gas molecules are much smaller than droplets. Unless, of course, you are shitting yourself in the process and thus creating droplets.

Very few things out there that offer perfect protection. A condom is usually combined with spermicidal lubricant, an air bad with a seat belt etc. However, the fact that protection devices fail (or are designed to protect others, not the user) does not mean that we should not use them.

It's not and no, the traders (PMs) did not know which trades will be shadowed by the algo. It's a separate team that is running this strategy and the PMs in the prop pool are not aware of the trades (you can see why, right?). It's not front-running, however the fact that they did not disclose...