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Note to self, don't write posts while eating breakfast ... I meant to write "agricultures" ... heh

Good thought. First of all, 100k a year is not a lot of money, go to a wall street and take a look, a lot of support staff would make 100k including bonus. They are an integral part of the team, no different from anybody else. When I was part of a hedge fund, we made sure that we compensated...

First of all, there are very few successful electronic exchange platforms, and interestingly most of those exchanges are public (CME, ISE, DB), therefore there is no reason or otherwise for the exchanges to provide a "backdoor" for the specialists. The public fallout of such existence would...

It just means that I have two working orders at the same time, that's all. Of course the trick is not just having two orders at the same time, it is how the two working orders in relation to each other, and in what sequence and price they are put on, which is the bulk of the tuning. In a way...

Similar systems then, you trade with a different symbol opposite direction, I take opposite side of the market. Heh.

Interesting, so it is a strict pairs trading system then. I haven't played around with equities too much. My system mostly trade futures and options in a pseudo market making (I don't put on two-sided markets, I put on one-sided orders in sequence to simulate the behavior), and when I get on...

I wonder what this means. I am sure that Man tried to sell the Chicago / NY / Miami operations to local entities, and frankly I am surprised that other prop firms didn't just buy up the entity. I am wondering (and this is pure speculation) if this means that, one, Refco overpaid for...

There are a few more types than that. Keep in mind that the hedge funds that run automated trading systems do so in the "non-MM" category, they can not market make by definition, and yet they still run statistical arb models, inter-market spreading, or just outright position taking plus...

Let me define a high frequency automated trading system, keep in mind I have seen human traders input in 10-15 trades in < 3-5 seconds. I would classify high-frequency trading systems at least at 100 trades a day (and that would be considered small). The few decent sized hedge funds that I...

Havin spent some time with market making firms, you will be surprised how small capitalized some of the MMs are. I have seen small locals with < 1M, which is reachable for some retail customers.

Much lower than 60%, 50% or more of the trades are push trades. Obviously commission and fees come to play here.

You know, you can do the research yourself. Every eletronic exchange have published their matching algorithms in a publication or another, it is just a matter of looking for it. The CME, CBOT, LIFFE production descriptions directly describe the electronic algorithm itself. I haven't...

Interesting, I run a couple of automated trading systems that generates at least a few hundred trades daily (more than a thousand if all the systems together). But my algorithm is "pseudo market making", which requires a lot of trades (by definition). Actually my win % (if there is such a...

Journal of Financial Economics, Journal of Finance, Journal of Computational Finance, Quantitative Finance. Journal of Financial and Quantitative Analysis, Journal of Banking and Finance are lesser in quality. However, none of these journals deal with trading at all. In general, it is fairly...

There are some usual suspects (Southwest Securities, Merrill Pro, Penson, then there are some smaller firms). PM me if you want contact into those firms. Disclaimer, I am an independent professional trader, but I worked on the institutional side for quite sometime.

I am sorry, but unless your record have been expunged, you should answer "yes" to the question "have you ever been charged with a felony". See the EPIC (Electronic Privacy Information Center) page on Expungement to get your record expunged. http://www.epic.org/privacy/expungement/

Every exchange has different rules regarding felony charges / convictions. I know of two individuals who got their memberships / registration revoked become of prior felony charges, one even for possession. It caused significant headaches for their backers.

It is becoming pretty impossible to find a decent 1 bed or above for under $2k in Manhattan. I live in Manhattan, but I bought my apt a couple of years ago, I have seen nice 800 ft apartments renting for $3k / month or so. It may sound strange for people not in NYC, but it is hard to find a...

This is a fairly decent list. What's wrong with Lime Brokerage?

I would say that it depend on the software platform, some software engines has trouble dealing with large number of synthetic stops, so when the stop price is reached, the slight delay in the trigger would mean that the actual order won't reach Globex in time (since we are talking about ES and...