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Very good. Outstanding. The first category... You are exactly correct. Any program related to economics or business... Or any courses related to the Securities Industry... Serve only ONE purpose... And that is to manufacture a COG in the MACHINE... A reasonably smart, brain-washed...

The beautiful thing about trading... Is that one can chose the level of variance... In contrast to poker... Where high variance (luck factor) is insurmountable... Except by pooling winnings with other top players. In trading... One can be successful with a high variance strategy...

"Stupid Quants" is the theme of this thread... If you had bothered to read it. Sorry that you took a big hit this summer... And that it's all so personal for you. In contrast... Many more experienced traders... Knew EXACTLY how to take advantage of this year's meltdown... And can't...

If you actually trade stock in volume... Say millions of shares/month... Then your annual IB fees might run into 6 figures... And a $5/day charge for FIX connectivity is trivial... and silly to complain about. At these volume levels... IB really has no direct competition at the retail...

Great textbook analysis... But world class traders operate well beyond the textbooks. All the events I mentioned were different... But each created a general, irrational market panic... And fearful markets have certain common characteristics... Such as liquidity crunches and their...

A serious trading firm doing 1000s of trades/day... With capital into 7 figures and up... Would use FIX to completely replace the very limited TWS platform... With a proprietary platform that is custom designed... To trade whatever specialized niche that firm is trading... Which is...

Actually... That's not the way it would work. There are 2 main things that keep operations "secret": (1) Iron-clad non-disclosure agreements. These are VERY enforceable in court... And just the threats and fear factor is effective. (2) Very few people can build a firm to compete...

If you are really that paranoid... And your trading business has real value... Then you would just get a dedicated line... ISDN or other cuirciut... Cost $200/month and up... And your security problems are over. 64K circuit plenty for even 1000s of orders/day. Big deal.

The market is not rigged... It's just a random system... (Except for RAMPANT insider trading)... And no one can predict anything. The vertically integrated Securities Industry... Which INCLUDES the entire business media and sites like ET... Has only ONE purpose to exist... And that is...

If you trade millions of shares/month... It's all about fees and maybe Stock Loan. Nothing else matters. Most serious trading firms that use IB... Completely replace TWS with custom trading platforms using FIX... So even the broker's platform is irrelevant.

IB has a long-standing policy... Of constantly releasing software... that is not properly beta tested. They also have a policy... Of LYING to engineers like me... Whenever I call in to try and get information about problems with TWS. For example... Both Customer Service and Tech...

The idea that last summer's credit crunch... Was a 25 SD event... is idiotic. These panics happen every 2-3 years... Russian crisis in 1998... Y2K panic December 1999... Tech meltdown in 2001-2... Energy meltdown in 2004... Sub-prime real estate meltdown 2007. Normal, common...

I see this a lot with obscure startups... These guys have near ZERO traffic: http://www.alexa.com/data/details/traffic_details?q=&url=www.rtsgroup.de Sorry... But if I don't see GROWING traffic... Over a 1-2 year period... It's bye-bye... Because my business is not a guinea pig.

"Quant" is now officially a meaningless term... Just like "hedge fund". The fact is... That any market-neutral fund... That quantitatively exploits market inefficiencies... Would have had EASY record profits in Third Quarter. We did. Because greater volatility ALWAYS means greater...

My understanding is that "unbundled commissions" = Flat IB Fee + 3rd Party Charges. The Flat IB Fee goes down with volume... 3rd Party Charges are static. But it's never that simple... SMART is carefully designed to pad IB profits. For example... IB is rapidly expanding it's Listed...

(1) IB paper trading is meant to learn basics... not back-test strategies. (2) I wouldn't use even IB's live data for anything... They won't even give you an NBBO quote... They won't give you a quote for their own IDEAL ecn... Which I get through a 3rd party. To trade ETFs.... spend the...

NO. There is a popular misconception... That a trader becomes successful when he "finds a strategy". Why is this FALSE? Because... Any profitable strategy only works for a finite amount of time... Whether it's days or weeks or months or years. A great trader has the TALENT +...

It's becoming clear that you do this... But it's more than "marking"... You are constantly cancel/replacing orders... According to the OP. As of August 1st... And the abolition of the short sale "uptick rule"... ** To an exchange **... All sell orders are handled in an identical way...

Yes... DDE is 20 year old technology... And it was crap the day it was released... But an amazing number of, even high end, quote distributors... Are still pushing it on retail level users. For example... The ONLY API for Thomson ONE... Is a 5 year old Excel DDE implementation. In...

You are misinformed... They actually handed out cyanide capsules.