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daniel_m, wow. You remember huh? haha. I still remember your many comments. hehe. Yes, things have improved. And I'm glad I STUCK with prop trading as opposed to getting back to the institutional world. Though, I still have the choice open to me and still get calls every so often. And I...

In case you guys have been totally brainwashed by the "prop trading" hype/snake oil, etc. traders at most firms do get PAID to trade/invest long term. I mean either on the sell side as market makers. Or buy side institutional traders. Or institutional fund managers. quant funds. hedge funds...

Don, Well, I have to agree with you on this point but only to a certain point. :) Wall Street jobs aren't exactly going away per se. Just certain TYPES of Wall Street jobs. Wall St has always been on the forefront of change and cutting edge technology. It's just a matter of time before things...

thank goodness i didn't take their offer in '97 sincer merrill and ms gave better ones. . ------------------------------------------------------------------- Goldman Sachs to hand out pink slips By Jenny Spitz, CBS.MarketWatch.com Last Update: 12:42 PM ET Feb. 7, 2003 NEW YORK...

I think trading for a living is probably the MOST difficult/toughest job out there. But the light at the end of the tunnel is that it's POSSIBLE! It's doable for some... Perhaps not for everyone... I think everyone goes through these learning stages. And some people never pass certain...

Personally, I don't want that much leverage. I'm just saying that those kinds of leverage are pretty "normal" in the fx spot markets. Leverage is something not be joked about...

That's normal in fx markets. FXCM offers 100:1 leverage. And in some instances 200:1. enjoy.... ;)

hi all, I noticed that e-Signal also offers "paper trading". Is that just for equities? Or can one papertrade eminis, other futures, etc.? And how realistic is the paper trade simulation? using real-time data feed right? Accurate pic of P/L in RT? also, eSignal still has this free...

jskri: True, that every Street firm has prop traders. But a vast majority of so called "traders" are really market makers. Probably around 95-98% of trading desk on the Street are built to provide liquidity to their institutional clients. I've worked on such trading desk. However, a small...

YoungNAmbitious: I don't know if I can answer your question directly, "How come no one here seems to want to work at the trading desk of an investment bank. " That is a poll for you to figure out. But, I'll try to answer ther other questions. You wrote,"If I remember correctly a lot of...

Corso482, That's some good points you made! Obviously, there's always a slim chance that you could still fail at anything! hehe. BUT given all the preparations one can/should make as you stated above, then the chance of failure is very very very low I would imagine. I think here are some...

plumlazy: EXACTLY! Just because you made profit in the 30sec to 5mins that you hold a position on an intraday basis does NOT necessarily mean the person on the other side of your trade is losing money. If a big longer-term trader buys 10,000 shares on a superrally day(like yesterday) and...

fkeane! Good point! I think as a society and more so Hollywood makes one feel bad about "quitting" as though one didn't try hard enough or whatever. It's nice to dream big and shoot for the moon, but in life as well as in TRADING, cutting your losses is very important! It's OK to fail! And...

tnteo, I tend to agree with you. I believe the "traditional" definitions of scalpers are those who 1)work the bid/ask spread 2) take "small profits". I guess that definition varies from people to people, but that's the notions of scalpers for a long time. Now, there are people who thinks...

http://www.nytimes.com/2002/11/15/technology/15SUPE.html NEC Machine Again Leads Speed Ranks SAN FRANCISCO, Nov. 14 — The twice-a-year ranking of the world's fastest computers, to be announced Friday at a supercomputer industry conference in Baltimore, will include two new entrants based...

Actually, NO! Mutual funds who managed a few hundred billions(like Vanguaard, Fidelity, Janus,etc.) don't use that much computing power. They are NOT quants. They use traditional fundamental analysis which any simple PC with spreadsheet and some fundamental database can do. Quant hedge funds...

Yeah. Grossman runs a pretty nice hedge fund. I've read about him over 2yrs ago. In fact, all the "new finance" professors who don't believe in EMH are setting up hedge funds and laughing their way to the bank while they teach on the side. Prof. Andrew Lo of MIT Sloan set up a fund recently in...

Jem, DarkHorse, et al: Yes, I believe the market is HIGHLY inefficient and at many times very IRRATIONAL. But it doesn't make it easier to make money. Everyone now can look back with 20/20 hindsight and said the market was overvalued- Naz 5000 and Dow at 11000. But remember Greenspan...

vladiator: Hi all. I'm back. I haven't written in a while, but I like to add to this. I think most people in the general public - casual observers, investing publics, daytraders, and even institutional portfolio managers/traders - misintrepret the real idea behind EMH. The real idea behind...

Yeah... I have some of the same problems sometimes. I noticed that I'm usually "right" on the direction but a lot of times a little "early" like you said, then I get "shaken out" because the move was too adverse. I'm not sure how one would go about solving it, but I guess there 2 ways: 1)...