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I suppose you could do it through a retail operation but it's not in the same ballpark as what goes on among institutions and hedge funds as the OTC money market offers better interest rates than you get in a retail broker. Eg. a retail trader might sell yen paying 0.5% and get 5.25% on GBP on a...

Last Thursday was one of the best yielding days in carry trade history so it's clearly not over yet. BUT The Friday-Monday period before it was among the worst (esp Tokyo session on Monday - check out GBP/Y pair). It gets done a lot in banks - they/we borrow 10 yards of yen on money...

Would contest that prop shops damage your CV all that badly. most of the people I used to work with are now at places like Morgan Stanley, JPMorgan, Merrills, Dresdner, Mitsubishi, Bank of China, HSBC, ABN Amro, etc working as analysts. Not too bad really. The remainder found it very easy to...

Choosing a prop firm over an i-bank is like saying you've considered a job as chief polisher to Eva Longoria's nipples but decided to do teaching instead. for the following reasons, in poker dictum: 1. Pot Odds Ask your friend Mr X how many of his graduate group at the prop firm were...

you can overlay the profit curves on backtests for several strategies on CQG. there is a London based consultancy company called Oasis who can come and give you a lecture on how to do this. in my/our case what the guy did was took 3 strategies, one trend following, one counter trend and...

a good idea is to get personal recommendations eg, I went to a fund management expo and had a buffet with some analysts and investment managers. I called up a guy from my old school who went to Cambridge and had worked at MS and I asked could I use him as a referee and he said yes. that kind of...

I dunno how much of an impact your being of African origin has made on the proceedings.... but I do know that I am Irish and I applied for approx 400 City jobs before I got offered one. I did so on the advice of a Scottish music biz lawyer who told me "if you really want to do it, keep...

position that goes against you. eg long and it goes down, these guys would just keep buying.

Martingale system is based on "Gambler's Fallacy" that if one event happens it is less likely to happen again. This is stupid enough on a roulette wheel but in a trending market it is about as mad as you can get. That said, I have witnessed many bund traders who doubled into losing...

When I worked for prop shops people were sacked every second week, whole graduate groups would go every June and many others would leave within the first two years. In one instance a guy left after one day, he was no farmer, but he knew the smell of bull. Now I work for a bank and I have yet...

what will I do? the same things I did about 5 weeks ago.

I agree with the 'bove. I very much depends on the training program offered. look into stuff like employee retention rate, products traded (more sophisticated the better), clients, market share. eg. if it's a 20 man futures shop with a 50% turnover formed in 2003: run like hell. but if...

I find that one often leads the other, and given that they are so correlated, that was always a good play.

the belief that I have no weakness

I assume that properly optimised means backtested many times with the variables subtly altered, and on a 3d chart it gave a smooth profit curve regardless of variables. I know how to optimise but I don't (lazy).

short brent oil on a 10 day low close at $71.35 exit at just over $59 on a 10 day high close

used to do dry fly as a teenager in Ireland, freshwater, mostly trout. haven't done it it in ages, looking forward to retirement in about 40 years....

Rotter is a Czech, I think he grew up in Germany. he now lives in Switzerland. he used to work here in Dublin. he started off as a clerk on DTB (now Eurex) for a German bank, then he lost a lot of money trading options on his own account. he got a job at a Jap bank (forget which one) where he...

bloody good question. in 02 the bund was an easy trade. then the order book went crazy and you couldn't read it, so I switched to systematic technical trading. then the ECB went into a lull and fixed income wasn't volatilie enough in the euro area. so I went over to US treasuries. then as...

hmmm vix could be at a low because in the atmosphere of demand for more alpha (eg loads being poured in hedge funds which have higher alpha) risk premiums are slashed (see credit spreads market) and therefore volatility slows. the VIX is said to be the level of implied volatility priced into...