79 consecutive trade of 15% return would turn $10,000 (a reasonable starting size) into $623,920,690. And that's using the low number of 15% instead of the "or better." Somehow, I doubt it!
Exxon has a profit margin of about 10%. With gasoline trading at $1.62 per gallon (QU on the NYMEX), their profit is just 16 cents per gallon. On the other hand, gasoline taxes in the US average 42 cents.
On IB, get your statement for the year 2005. There is lists all your closed positions and the P/L for each. There's a summary too. I find between the 1099s and the yearly statement, I have all I need to do my taxes.
I went short the S&P on November 25, 2005 at the close. The S&P closed at 1268.25 (my SPY price was 127.04). Now, the market is at 1269.54 (127.09).
We may not be in a downtrend, but we aren't in an uptrend either.
Actually, the best edge is an edge that doesn't fit into those three categories. Coming up with an edge nobody else has thought of is the best one of all.
I open ES and ZN charts and watch them move as when the FOMC announcement comes out. And then, I sit on my hands and do nothing since I have an ATS. It's a good strategy and generally works.
I should also add that hedge funds and institutions had a bad year last year. More money flowed out of hedge funds in Q4 than into them. And returns were lackluster. The same is true at the institutions, which are basically private hedge funds. Therefore, they aren't hiring as much as they...
Maverick74:
So true. I have seen this first hand. And even if you have the knowledge and experience, it will still be hard to get a quant/systems development job without an ivy league education or prior experience at a big hedge fund or institution (which you can't get without the ivy league...