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Strategies come and go, and you never know what your next big system winner will be. If you have a small account, do one good trend system, and one good counter trend system. This should help reduce drawdowns. Check out Kevin Davie's website - he is a systematic futures trader who has a...

Diversify. I trade about a dozen systems in stocks and ETFs. Some look for trends, other are mean regressive. NEVER STOP RESEARCHING.

I second GoToMyPC. I use it daily to run my program when I am away from my desk. It is extremely reliable, and I can login on my iphone or any PC. Every cloud solution that I tried was either too slow, or two expensive.

I put my first option trade on at about 30 in the early 90's. Lost early in my career, had brief periods of profitability, and at the ripe old age of 52 I re-entered prop trading with a new mindset. Making more money trading over the last two years than my mechanical engineering job, but...

One downside of a (good) prop firm is the registration. You have to pass the test which isnt too bad, but you have to get fingerprinted. Yes an invasion of privacy, but required to be in the game. Otherwise I have been very happy as a prop trader. Better execution, plenty of leverage, and a...

Haven't read all the replies, but there are good prop firms that will teach you, and provide research, but you will have to be there, and not trade remotely. Start small, diversify, and scale up as profits grow.

I worked for an engineering firm in Stamford in 2008, and we were doing work at SAC Capital, Steven Cohen's old firm. Our project manager was working at the firm when they lost 30% in one day. He said you could hear Cohen screaming from his office.

Managing money is a long road. Really hard to raise money unless someone knows you well, and has the cash. As a prop trader, you have enough to properly fund an account, and many firms don't care about overnight as long as you stay within your capital account. But a lot of leverage overnight...

I agree, increasing TIER 1 capital requirements effectively cuts leverage and profits.

I agree that it won't get appealed, but much better than Hillary's idea of adding taxes to financial trades, at least this is what I heard.

Dodd-Frank forced banks out of speculative activities such as trading. I feel that there will be more opportunity if Dodd-Frank is relaxed IMHO.

Good news for traders

Get some good research, and put a solid back-tested program in place. You can join quantpedia.com for $500 (not affiliated), and find many Phd level research papers. It is working for me.

This totally goes against a lot of Phd research. Fading a stock after earnings has shown to be winner for many years.

First of all, try to get some sleep. 4am?

You know what they say - buy the rumor and sell the news. Short it.

I bought a Dell dual quad core server off lease on ebay for about $600 two years ago. I have used it to run some algos and it has never crashed. I also use it to crunch models after hours. The only downside it puts out a lot of heat.

I trade equities and ETFs for a prop trading firm. Would love to beta your software. Thx, John

Best portfolio analysis software for the money. You can also run a fully functional demo for free.

He is probably one of the most successful hedge fund managers of all time, and probably is/was the best emini trader all time. In his prime he would make over 1/3 of the funds return by tape reading the emini market. Google him, he lives in Greenwich CT.