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What you said is yes and no. A prime broker is the hedge fund's prinicpal brokerage account. And it's not true that they don't provide funding, they do provide a source of funding through a division called "capital introduction" groups. Goldman Prime Brokerager has one of these divison. So...

Dude, that's so MISLEADING when someone throws numbers like that. No one(or at least no one publiclly documented) can compound 25% a month foryears on end! I mean maybe of a few months or even a few years like the tradign legends, but then at the end they sometime sloss substantial amount like...

HUH?? you wrote:"It is even harder if it is mechanical but you do not know why the system is taking the trade. :D" why?? Hopefully you know why the system did it because you wrote it! If you don't then at least you should have the strategy summarized. That's why it's a BAD BAD idea in...

Don, Not to attack BT or anything, b/c I'm really neutral. But doesn't Bright hold back like 20% or something? I think I've read that on this post. Excuse me if that was misinfo. just wondering.. trader99

Zhuge, Dude, you gotta read the contract VERY VERY careful before you sign on. That's a pretty low payout for a prop trading firm. And in todays' tough market, it's difficult to make $10K/month. The only exception is if it's a bona fide institutional proprietary trading desk(i.e. Goldman...

darkhorse! I'm back! And this time, we agree again. haha. How funnie is that? Anyhow, discipline is only half of the story. Of course, if you don't even have discipline then you got even less to ride on to trading success. If you don't have discipline to follow your own trading rules...

I think that's where the confusion lies. I like to see "real trading" as speculation. There's a big difference between speculation and gambling though the subtleties are often missed by the general public. True speculation is taking on calculated risk. You know the odds are in your favor when...

Now that MER settle and Solly is reforming its analyst pay, will we ever get "real" research on wall st.? I don't think so! It's still a selling machine.. That's why the best honest analyst go on the buy-side, because that's where their money goes with their mouth. trader99...

Momo, thanks for the suggestions. I've been making gross positive and progressively net positive days. The thing is as I've written before is I don't want to go broke before I can get really really good at this prop thing. Whereas, in the insitutional world, you are guarantee a base salary...

From what I can tell, his two books on Futures and then Stocks are IDENTICAL almost done to the last word. Maybe changing the words futures for stocks. haha. That was an easy way to make a quick buck for him! but i must admit, the book themselves and explanations on TA isn't that bad. I...

any Wealth Lab Developers out there? looks like a cool site! if you are an expert -level at this software or know someone who is please let me know? or if you know some sample code to learn from besides the ones on the website then let me know. thanks, trader99

True. That's what I've been saying all this time on this thread. haha. And BTW, new MBAs do NOT become portfolio managers right away. They are like assistant PM or associate or research analyst for a few years under the mentorship of a more experienced PM or even CIO(Chief Investment Officer)...

Well, let's get the facts straight. Marty Schwartz in Market Wizard's interview was CONFUSED between program trading and index arbitrage. And Jack Schwager frustrating tries to explain the difference to no avail. Program trading is NOT index arbitrage. And even now, close to 2 decades...

Well, here's an article from the FT(Financial TImes) about recruiting at an IB, which is NOT the same as a hedge fund, because hedge funds do NOT usually hire new college graduates. They want some with more experience. Anyhow, I hate to read this gibberish about recruiting practices of IB...

man, this ET forum is a real time killing. Damn it. hehe. If I didn't have an email notice everytime I get a new post. haha. Yes, it's just the lowest commissions. not bids as it bid/ask. trader99

One last post on ET for the day! This is such a time sink! hehe. Perhaps, during the HEY days of '99-00 when we were using principal bid trading it seemed so fast to dump a $100M. Perhaps now it might take a little longer. Here's an example: Back in '99, tons of tech stocks were...

I really need to get back to work. But here's an explanation to satisfy your doubts. I guess you have NEVER heard of "principal bid trading" ??? Do you know a company called ITG and their QuantEx trade execution platform? We as well as many quant funds use their principal bid trading...

Here we go again. Oops. What I REALLY REALLY meant to say is this. Gosh, I have to always clarify. It's not that difficult to move a $100M around. I did NOT mean to say it's not difficult to make triple digits returns on a $100M. of course, it's NOT easy to make triple digit return with any...

It's a well known fact that there is an INVERSE correlation between size and performance of funds. Because naturally the bigger you get the harder it is to move money around faast. And that's why the best fund managers leave these huge complexes like Fidelity, Janus, Barclays,etc. to go work at...

Maverick74: Dude! I don't need you to give me the benefit of the doubt shit. I wasn't here parading my resume/credentials/income/whatever. It just that these topics came about when everyone on this thread for some reasons started this debate about institutional vs daytrading,etc. SCREW...