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Yep. I almost forgot about Multex! Yeah, the internet has really level the playing field. Institutions really overpay for financial databases when a lot of it is now available on the net for free or negligible cost. But, I guess our data provider has to guaranteed cleaniness/accuracy of...

Yeah, I've been wondering about that myself for a lil bit. I guess it all depends on the stocks you are trading and the type of day. Obviously, if you are trading microcaps or small caps issues, I'm sure the upper limit is probably only a few thousands shares at a time if the daily volume is...

Being an ex-quant, I've done multi-factor models for stock selection based on fundamental factors like(earnings revision, p/e, p/cf, dividend yield, and a whoel host of others). And I can say, you do NOT have to spend your life at the library or on the net getting the info. They are readily...

Yeah... That kind of volatility 21pts intraday move is hella risky unless you catch it early enough. You wrote,"Sure, great traders can trade. But when I see people talking as though this market is just a little tougher than that of a year or two ago, that anyone who tries hard enough can...

Yeah, personally, I think if you are a good trader then it doesn't matter what market we are in. Obviously, a tough, choppy market makes its HARDER to make money. But if you follow your discipline then you should be OK. OMC! DAMN!! I didn't see that. Last Wednesday huh? It opened 72 and the...

this is what a bear market feels like and stop listening to those stupid analysts who keep on telling you it's time to buy. They have been saying that for the last 2yrs and the results show that their recommendations have resulted in some eye-popping returns of -70%-99% and in some case -100% or...

wow. that's pretty scary on in the intraday prop trading scene then... kinda like a bear market wasteland... even on the institutional level there are serious shakeouts...

what's your definition of "not making any money these days." I think isn't it different for everyone? Maybe some people are used to making it big butnot just doing average and they feel like they are not making any money. And then there are beginners who aren't really making any $ cuz of...

Yep. For short-term intraday trading, I think "Street Smarts" is better than ANY ANY academic credentials! Period. I've done both (institutional and prop trading). I think intraday trading is about speed and reading the tape. TA, etc. That, I think will never be taught in a formal setting...

Yeah, that's probably true to some extent but not totally true. Really smart people want to "create thing". I was an ex-quant for institutions and now a trader. And a lot of quants come from really extremely academic backgrounds. Like ex-professors from top schools or top notch flawless...

An MBA doesn't apply much to trading because it's too "light weight". It's a lot of fluff. Having been to one to the top schools in the country, I see the MBA program as really fluffy though "fun" and light on the brain. You learn more skills studying math,physics, compsci, engineering that...

That's really good to hear. There's more than one way to skin a cat as they say. :) Good trading to all!

Yeah, NYC isn't cheap. That's why I'm not in NYC! haha. Anyhow, I'm not saying one is better than the other. It's all dependent on who you are and what you want. I guess one thing is though, as the title of this thread "base salary + payout" most prop trading shops don't have base which can...

Just a lil correction. Most MM do NOT in general get a payout % of revenues. Maybe a few very very senior MM do. Only prop traders(a smaller, selective group) on Wall St actually gets a payout. And the payout is significantly smaller then the prop trading shops that are discussed on this...

Yep. You are right. The buy side , especially hedge funds, are usually the route for prop traders. It's a better package for them too. And more capital to play with too. The Street isn't as glamorous as people think.. I rathe rbe running money or trading than serving clients as on teh sell-side.

The "bubble" you speak of is mostly in equities, M&A, and i-banking(i.e. IPOs), etc. But in other areas like fixed income, especially, credit derivatives, it's a THRIVING and growing area. As the economy gets worst and more companies go bankrupct, credit derivatives play a crucial role for...

Yep! The dollar has been declining! Makes the GBP looks even better! 1.3 was the rate I last checked a few months back.

Don, You wrote:"Just for an example, what job would I be qualified for? (don't even think about what you thinking about saying here..:-) )." Huh?? How do you know what I was thinking? I wasn't thinking anything. I don't really know the kind of jobs you would be qualified for. Just ask...

Re: 2002 FX Salary for London quote: -------------------------------------------------------------------------------- Originally posted by trader99 just incase you guys were wondering.. Remember, the multiply that amount by roughly 1.3 to get US Dollars. It's not equities but just...

So, let's do some math here. Head of Proprietary Trading 120,000 243,000 That's about $363K Sterling/Englis Pounds * 1.3 = $471K USD So, it seems like some of the traders at Worldco or Bright made $2M last year or something? Much better than these gus! LOL!