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As of today, I do not know of a single prop firm in Chicago who are currently and actively hiring new traders on a short-term contract with a draw salary. I used to know about 50 of them. It is possible for an experienced trader to negotiate for a few months of draw if the track record...

Any opportunity like that gets arbed down to zero in a big hurry. Promise.

Eurex definitely isn't what it used to be. 1. They got chopped up trying to poach business from CME. 2. They didn't get into European energy in the late 90's and early 2000's when they had a window of opportunity to take that business from the IPE floor, like they took the Bund from...

Miz: You have been starting dozens of fresh threads and crowding the forums with simple and naive questions about exchange procedure and market mechanics THAT CAN ALL BE ANSWERED WITH A LITTLE WORK ON YOUR PART. Each electronic trading exchange has all of these issues covered in the details...

Well, as usual the bottom line is in fact the bottom line. Exchanges, prop firms and clearing firms get paid for executed orders. Even a HF algorithm strategy that derives income from exchange rebates by providing liquidity is in fact executing orders. So, you are dealing with a supply...

I have several clients who use IB, but are not able to trade the implied exchange-supported spreads. Why not? That would eliminate their reliance on automation to get fills for those markets.

Then you can always fade yourself - which of course could induce schizophrenia.

"to free up desk and office space for these big-bank-big-time traders" 1. These types will demand a very high level of IT infrastructure performance if their domain is HFT - surely every big prop firm thinks that their build and staffing is at that level, but a firm like Tower Capital might...

"its always the jews. now u will be silent till the next occasion for hysterics" x2 totally uncalled for, WTF? idea: man up and try quoting on the market - a bit of introspective accountability is in order. besides, IB just squashed your existing strategy.

Just as a general sidenote, I have been working my way through exchange quoting issues since the mid-90's. I use the "SmartQuote", "Slop", and throttle settings on TT Pro to control my message submissions. In essence, I don't actively quote until the price level is where I intend to do my...

"I have never heard of any FCM restricting messaging more than the exchanges, except IB." So, to that end this thread serves a very useful purpose to other ET members - namely, increasing awareness that certain trading strategies involving even modest levels of message submission can be...

If you are trading futures and think that switching FCMs will solve your messaging problems - get ready for heartbreak. I have gotten member rates on MF, RCG, and Advantage and they are all incredibly compliant to the exchange messaging policy. It is possible to get relief, authorized or...

You should be trading flat price front month crude oil futures with your background and strategy. Don't cheat yourself out of a truly visceral experience - you sound bored and a bit unsure of yourself.

My experience is with futures, and of course all electronic futures exchanges have very strict Message-to-Fill Ratio Policies, and it is usually just less than 20:1. CME, ICE and Eurex have those circulars posted on their websites buried in the exchange regulations. An FCM has absolutely no...

Which makes the consistent money, your "gut instinct" or your trading system? Emotions like fear or greed and instincts are not consistent - trading is the ultimate accountability game. Individuals can be impulsive or indecisive by nature. Physical factors like blood sugar levels and...

I have used TT since 1998 and the AutoSpreader since 2000. I have a couple of clients using the CQG Spreader since the first of the year. For basic strategies it is fine; for more complex arbitrage strategies a client has been incurring some stability problems.

http://www.bloomberg.com/news/2010-07-06/schonfeld-dismisses-50-traders-as-electronic-trading-takes-a-bigger-role.html Well, the Bloomberg article quotes them as firing 15% of their traders, and that number is 50 individuals - which would leave them with about 290 traders. If they're...

The occasional Republican governor means nothing - Illinois government, local and statewide, is and always has been completely controlled by the Democratic Party. This is really a national case study on how the Democratic Party Platform is doomed to fail: buying votes from people who don't pay...

"However, if a trader had scalable consistency, he wouldn't be looking for a job because he would too busy getting filthy rich" Not necessarily - a few of my clients have secured proprietary trading positions , and I was able to speak with the principals involved in their interview and...

Sounds like you don't have much confidence in the markets or your strategy at the moment, so my advice would be to keep taking modest amounts of profit out of the market until your emotional state improves to the point where you feel comfortable about more risk.