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This seems right. One disadvantage of intraday pairs is that the upside is limited while the potential downside is unlimited. If news comes out, and there is a breakout in a given stock while its corresponding leg remains stationary, we get crushed on that pair, since the odds of a mean...

For a beginner with very little previous knowledge, what books/sources do you guys recommend for learning python? Thanks.

Yes, this is a good summary. My desk does intraday equity pair stat arb; the actual code was written in python by a quant. My role is a combination of research/trading/risk management/operations. I am constantly making adjustments to algorithms, what pairs we trade, stop-loss, etc., based on...

Yes, GETCO is an amazing shop. They're dominating HFT of equities. Compensation is ridiculous, and very few people ever leave the firm. They're super secretive for obvious reasons. In terms of difficulty of getting a job there, I would say it's one of the toughest places to get into, alongside...

Here's my ranking of prop trading firms. most of them are in chicago. 1. GETCO 2. Jane Street (they're in NYC) 3. DRW 4. SIG (offices in multiple cities) 5. Jump 6. IMC 7. Optiver 8. Transmarket 9. Chicago Trading Company 10. Sun 11. Ronin 12. Spot

Speaking of Misha Malyshev, did citadel end up paying him the $100 million they owed? the guy was a beast, his high-frequency unit made the firm like $2 billion. and he's apparently a really nice guy to boot.

I talked today to a guy who works in alumni career services at my alma mater, and he said he talked to a morgan stanley partner just this week and that the stories of them hiring several hundred traders are false. According to him, banks aren't really hiring traders right now.

I'm wondering if there are any traders here in Chicago who enjoy playing poker. It will be good to get a group together and play occasionally.

My guess is either Mark Warner or Hillary Clinton. The problem is that no democrat can raise as much money as Clinton during the primaries, where funding is crucial. Warner is the only democrat, due to his tech background, who has a donor base entirely separate from Clinton. The other candidates...

I'm a hardcore democrat, but a Hillary nomination will be a disaster for my party. I don't hate her, but her attempts to be a centrist are futile and laughable at best (ie. flag burning amendment, grand theft auto, etc.). If she were the nominee she would get around 45-47% of the popular vote...

I'm wondering if anyone has applied for the equities trading job at allston trading in chicago. Has anyone heard anything back from them yet?

Has anyone heard of darwin capital in chicago? I heard vaguely that they trade fixed income products, but I can't find their website or any contact info. If anyone has information about them, I would really appreciate it. Thanks.

When I used to work at CME people used to talk about this young Russian guy named Igor, who is supposedly the biggest e-mini S&P trader in the world. He works out of an office in CBOT and makes millions per year. His name is mentioned with awe, respect, and fear. One pit trader told me that Igor...

Hey guys. I just joined ET and am looking for other traders in chicago. It will be nice to meet up at a bar or something.

I used to work for a guy at the chicago mercantile exchange, where I electronically traded euribor spread futures. I got laid off in august and now I'm interviewing with other firms. No, I don't have a series 7. Where are you located? Are you interviewing with firms?

At the better prop firms, they will offer you a draw of $2000 per month and give you about 50% of the trading profits. You normally do not need to contribute capital. I highly recommend that you stay away from places that require contribution, unless you just have money to burn. If you're a...

I was recently offered an interview with them for their equity trader position. The guy told me over the phone that salary is negotiable during the interview. I thought the whole thing sounded a bit fishy. I'm in Chicago so I'm not gonna waste my time by flying to new york. You should take a job...

The partner told me they've been around for about six years and have around 150 employees and growing. For some unusual reason, I just can't find anything on them.

Hey guys. I just interviewed with a prop firm in chicago called great point capital. They trade NASDAQ stocks and use the anvil platform and clear through sungard. There is nothing on the website about them. If anyone has information about this firm I would really appreciate it. Thanks.