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IMHO, a degree or two never hurt, but not every firm that hires traders puts as much importance on education. Some traditional firms do. The hedge fund group we run the allocation for could care less what school the FX traders we're dealing with attended. It's all about their stats and what we...

EFX has some of the highest commissions in the industry. This makes it impossible to run high frequency scalping or arb systems with them. IMHO their platform sucks and if you're a trader that does a lot of size, their annoying 10,000-unit partial fills are a nuisance.

It's a BBBBIIIGGG upgrade from Currenex, but you need to be an ECP to qualify to trade there (http://www.vcapfx.com/ecp.pdf). We are in charge of allocating capital to FX traders from a group of hedge funds, so our clients meet the ECP requirement. We're setting up a group of traders there in...

If it works for FX, I might be able to help you. We are part of a group that's in charge of the allocation and due diligence of FX traders for a group of hedge funds. In our group we also have some very bright, PhD systems traders that run hundreds of models - but they are all FX related. If...

Obviously "who you know" helps, but this has always been the case. It's human nature and this will never change. Nevertheless, if a trader sucks he will suck no matter who he knows. He might be given an opportunity, but will be quickly discarded when sh!t starts hitting the fan. Neither a...

You're right. If it's curve fitted on 6 months of data, it will probably fail going forward. Nevertheless, I want to speak to you FXTRADER40. I just PM'ed you.

Personally, I think it depends on the trading position or role you want to have. We do the due diligence for different types of FX traders for a group of hedge funds. They will fund a good trader that has verifiable statements even if he doesn't have a college degree. There is a lot of demand...

They are not a true ECN. I'm not sure that such a thing exists despite various claims. If a true ECN environment would exist at this time, banks wouldn't be posting the same liquidity they do now on "almost-ECN" systems. Unfortunately, banks still call the shots and they're a bunch of...

Currenex is just the technology (platform) provider. You need to go to a Currenex broker to open an account. They are listed on the Currenex website. Some brokers accept retail accounts, but the lowest account minimum requirement that I'm aware of is $25,000. If you plan on news trading, get...

What's up Viper-dude? The institution (allocator) that we're working with (that funds our traders through their hedge funds) recently set up a few test accounts at vCap futures for some traders to trade on the CAX (Currency Aggregated Exchange). That's supposed to go live in a week or so (famous...

And if you do that, you'll be blacklisted faster than you can say "hubba-bubba."

Thanks, ssblack. Even if I "hire" a trader, doesn't he still have to register with the NFA (even if the firm is registered)? Who is at risk; the owners of the firm or me for being the series 3 registered AP for the firm? Thanks.

Because I already did that and they were rude and unhelpful. The guy I spoke to was a moron. It seems that everyone has mixed feelings/experiences about the NFA.

I already spoke to a lawyer, but he did not point out the issue with new Rule 2-29(b); so that's why I wanted to get the opinion of other traders that might know about this.

This is the release on October 4th: http://www.nfa.futures.org/news/newsNotice.asp?ArticleID=1979 Notice I-07-41 October 04, 2007 Effective Date of Amendments to NFA Compliance Rule 2-39 NFA has received notice that the Commodity Futures Trading Commission has approved amendments...

Yes; I was told this is the case if we get into futures, but not for forex. Does anyone have experience with what I'm talking about?

That's exactly what I want to do.

I had a conference call with an attorney for an FCM we work with last week about this, but I want to know the opinion of the real soldiers in the trenches. Please note: we don't do any futures or are planning to ever; spot forex only. We have a few forex retail IB sites, but during the...

You cannot scalp quickly using $50M; no matter where you go. Even if you try scalping with $10M, you might still experience problems with fills, especially during volatile markets. All scalping systems can handle limited assets because of the issue with liquidity. That's why hedge funds and...

It depends when you scalp too. If you are trying to scalp the economic numbers and releases (that is, right when the numbers come out or briefly afterwards), you will probably experience delays or rejections wherever you go (especially at Oanda or another dealing desk broker). You can try...