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Not to derail Mav's thread - but can you also share some of the general story of how you made your start in the business?

I think there are a couple of ways for money to go into your pocket: The company is bought out The company pays dividends Companies should pay dividends once they reach a point that they aren't making efficient use of their cash. At that point, they should declare a dividend or buy back...

http://www.youtube.com/watch?v=RXJKdh1KZ0w

To explore what would make the ideal prop firm, I think it's useful to look at what the sources of friction in the market are: * capital: some have it and can't use it, some don't have it and could use it Let's ignore those who don't have it and couldn't effectively use it if they did...

I like your advice braincell, especially the pointers on how to know when your system is not performing as expected. 14 years * 252 trading days/year would make 3528 trades for evaluation. Is that really needed for statistical significance? Further, it seems there may be significant...

I'd recommend Interactive Brokers for OP - despite the Java involved with Gateway or TWS. I don't really care myself how the bits are getting shifted around so long as it's reliable. It's just a lot more flexible of a setup than you can usually find for a retail guy. There are many projects...

Kudos to you all for giving it a go. If open-sourced, clients would still need a couple of components: - data - some number of servers to make the cloud optimization worthwhile One increase in efficiency I'm looking to do with my custom backtesting system is to save derived data, so...

Looks like www.algodeal.com is offline and likely out of business. That's too bad, I liked their idea. Do you think any other companies will crowdsource the process from idea to execution? I think part of AlgoDeal's problem was that they let anyone do it but had not much in the way of...

No, they are successful traders but want to spend some time abroad without paying an arm and a leg. That part I get because I've stayed in European hotels with stained carpets, water spotted furniture, and moldy cieling bathrooms, for like $300/night.

Don't tell anyone that I wasn't watching. They might revoke my residency permit.

I admit I thought it was about living expenses. I assumed you had turned the corner in trading and realized how much of a bankroll you'd have if you weren't living in NYC. I get it now, mostly - and I'm not at all disparaging about any remaining parts of your quest I don't get. :D

He mentioned Bangkok and Mumbai and I immediately thought Pittsburgh might be just the ticket. :D But, yes, I see now he's mostly talking about Europe.

I think you could get what you want in Pittsburgh in a decent neighborhood with access to the cultural stuff for under $900/mo (including Verizon FiOS or some other fast connection). I realize this isn't the bartering type of deal you were looking for, but.. I'm having trouble understanding...

Is there a bull pennant on the daily chart the last few months? That's what I've been looking at and probing some long entries for the last few weeks, trying to avoid getting chopped and picking up a few points along the way.

+28.44% net (+42.87% gross) but overall stats aren't great Trading ES only live since August. 359 round trips High watermark was +68% after a great 3-week streak from mid-Oct. So, currently in a 39% drawdown during the less volatile times since then. I'm working to trade less when...

I think Buddha said: "When the student is ready, the teacher will appear."

Gave this some thought awhile back after noticing how in-lockstep these prices can seem. Keep in mind that both CL and ES are influenced in realtime by currencies. I think those small related movements during the day are better explained that way than by micro-adjustments in economic...

Thanks very much for this reply.

Thanks! I have the NFA invoice. I'm just wondering if I can do the due diligence/records on my own or if it is strongly recommended to hire someone. I think I can do it on my own. Another question: is there a comprehensive list of where CTAs submit their numbers to? (Barclay, ITR etc)

heech (or anyone) - how much did it cost you to set up the CTA? I've formed LLC and passed Series 3 - I need to do fingerprinting and disclosure docs. No performance info in DDs, as I have not managed anyone else's money before. Purpose is to start with family and friends to build a record...