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******************************************************************************** Reconcile report produced on 2021-05-03 22:57:15.440012 ********************************************************************************...

True. Well I hate to disagree, but it is much more likely that you will get to a 7 or 8 figure net worth as a well paid employee in the finance sector, even if you forced to invest conservatively through PA trading. Working in finance you are also being paid to learn the kind of stuff a retail...

Euribor GAT

Life becomes much simpler if you think of your position in MTM terms and don't care about open or closed equity, or even individual trades. Just a single series of positions where you have or lost money in a given stock. GAT

I was also on a trading desk (also swaptions, and exotics) after a 3 month analyst training programme. I was actually *on* the desk before then, but I wasn't allowed to actually trade until the programme was up and I'd passed my FSA exams. It's not easy to get an IB front office trading...

He asked what route I took. I told him. I appreciate it is not relevant to him. But I also gave him some advice that might be more helpful to his specific CV. I don't know what a 'state school' is because I'm British, but I can imagine it's a lower teir university. GAT

Investment bank grad scheme, then moved to the buy side. Another option you might consider is getting a back or middle office type job and working your way in from there. It is possible, although not as easy as if you can walk straight into the front office. The other thing that might help is...

As it's friday permit me to be long winded and introspective. When I was a kid I wanted to be a progammer (actually I wanted to be a systems analyst, which at the time was a rather grand job which basically involved telling programmers what to do. It seems to have morphed into business analyst...

Another thing that can happen (not quite the same as the multiplier change but still causes problems) is a specification change. For example, changing the notional coupon or possible years to maturity on the deliverable basket for a bond future. This has happened a few times. GAT

With IB you can specify the multiplier when you get the contract. In fact you have to for some contracts which are ambiguous. So if you always do this you will get an error if the multiplier ever changes. GAT

Risk that I have bugs in my code, I've entered a parameter wrong... you name it. GAT

I'd do what the system tells me.... having said that I wouldn't deploy all my money in one go; I'd probably add instruments and potentially risk capital gradually. But that's about reducing operational risk rather than market risk. GAT

In the case of (3) I'd treat the spread as a synthetic instrument, and calculate it's costs accordingly. GAT

Depends on the contract. In an extreme case, we'd be liquidating a position over a few days. But normally it would take at least a week. No we didn't go near the auctions. With the size we were doing it was better to trade continously throughtout the day rather than drop a huge order in at the...

I've had similar thoughts about adding futures without real time data. Problem is, if your price is too far away from the current spread (which you can't see) the order will be rejected. Do IB have an order type which is just 'put in a limit at the current side eg buy at the offer, sell at the...

Soffex merged with DTB and became Eurex. So Soffex is effectively a heritage brand name. GAT

~ 22 years GAT

https://qoppac.blogspot.com/2021/04/trading-and-investing-performance-year.html GAT

Fascinating to see someone from the 'dark side' in this discussion! 1) The markets where you could be waiting tens of minutes... or longer... for fills tend to be those with large size (much of which isn't intended for execution) and little volatility. I'm thinking of STIR markets, especially...

Ha! Obviously I meant I'm following this thread now. Also good to see another UK based trader. GAT