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The most stable job: Fund(Operation) Administrator. Back Office Accountant. Most hot: Trader. Quants.

Being a prop firm (capital provided by the firm) trader for a while in Chicago. You're always left in a void. Basically, you have to be flipping and flopping firms moving to the next hot firm. There's always a firm that is doing well but there's always a limit to the number of traders in...

I think auction houses are more for floor traders. Upstairs traders can't do it. It's a bit like poker.... Online player vs Table players.

For a trader, their track record is simply the only valuation they have. If you want to do other roles like research, IT, Back-Office and others ... then that's a different story.

Making 100K is important... of course. But making money in the a norm. Who's stupid enough to invest in someone who's been losing in the past? What's more important is the quality of how you made that 100K.

Reading the topics... should be a great place to network for Marketing / Sales people.

This is not a matter of risk management. In a very simple, backtesting environment, you can get a +80% profitable setup just by placing a limit order on the selected tops and bottoms (yes... it depends on the market, though) Usually, with this, you'll have a larger losing trade. That...

Obviously, Baron will be caught by the SEC for insider trading... :D

It's not hedge fund material so far. For a discretionary trader, I would look at a consistant 100+% return each year (Considering that most discretionary traders have extremely high margin/equity compared to outright systematic models). Another issue is discretionary trader have some...

1. Join a prop. firm 2. Watch and learn from top traders in the firm. 3. Trade small size. Don't go through all the vendor stuff. Exchange sponsored training is generally a lot better than retail training material.

Sure... traders in the building don't wear suits.

Depends. Limit Orders are usually held by the exchange. Stop Orders vary, usually held by the brokers or liquidity providers. This really depends on the exchanges.

They are real. Just sticking to the facts... All are able to program in some sort of language, enabling them to test and develop new models. They all trade other models other than the "original" methods taught by Bill and Richard. That said... Viability of the "Turtle Method" and...

For a newbie, trading the system in a one lot is the best way. There's more to systematic trading than quantitative analysis/reserach/development and all the computer stuff.

Let's wait a few weeks and see if he says the same thing, after he loses money...

Hedge funds now??? Minimum: Programming and Quantitative Analysis. Best: Successful track record for over 5 years when it comes to discretionary traders. (3 years if it's systematic) Nothing really changes.

1. + 2. has been going around from 10 years ago. Generally, if you want to trade models you developed, you will be given 20% of the profits of you make through the model. You will be expected to do pay and implement the models on your own. This is especially with automated trading. Prop...

I can see you read alot of books... Are you talking about/to yourself?

It's not a matter "can't be done" It's a matter of rationality. It's Statistics 101... Find and read about St. Petersburg paradox... you'll get the point. If you still want to debate, please run some (valid) tests to prove it.

I have to say that everyone has it. When you're trading with a bunch of other traders in a firm, we start chatting about the dumbest shit you can ever think of. When I was trading from home, I was in a chatroom(ET chat) chatting about the dumbest shit you can ever think of. There's...