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Actually, I haven't totally gotten rid of countertrend trading bias. :( I have only lessen its insidious effects. Today was a perfect day for shorting. For me to short correctly, I like to catch the beginning of the trend. Since I missed the beginning of the short trend, I was so afraid of the...

Just posting news! It's NOT me. Just saw an interesting headline and posting it here. http://www.cityam.com/284088/hedge-funds-star-traders-being-booted-out-limelight-favour

It's a trial run. In any random sample you can get high win rate. But it doesn't mean shit as I found out if one trade can and does wipe out all the small gains. Lol It's a small test. Relax. If this was over thousands of trades then I would be impressed. But it ain't. Just testing various...

That's why many Wall Streeters went and are going to tech and startups with a more relaxed culture. Life is short.

I said i-banks. When I say banks I meant i-banks. Sorry for the confusion. Commercial banking was never on my mind. Anyhow, what you said is true.

Xela, You said it best. I should NOT use "timeframe's risk-management parameter in another timeframe's trade"! Win rate is a useless metrics. I'm not sure which timeframe I should stick with...

GS built most of their systems in-house. Depending on the systems, they sometimes buy from outside vendors. Other banks might do it differently. And yes, good GS quants can get $450K. So do good quants/traders at prop shops and hfs. I-banks regularly recruit at those schools...

Xela, You've just identified my problem! I scalp, scalp, scalp. 100% win rate. Then one scalp doesn't automatically go my way I hold on and used a higher timeframe signal that says it's still good to stay in(which it is but at that timeframe NOT at the scalping timeframe). But then I can't...

haha. I'm NOT even sure the article is about a real sr trader. While it's still possible to learn to code, I wonder how far he will get at a i-bank with his newly learned programming skills. Most banks would hire the best compsci majors coming out of Stanford, CMU, MIT, Berkeley, etc. to work...

Maybe. I NEVER said my scalping was really profitable. I only said it had a high win rate, which is deceiving metric. Since one big loss can wipe out all the small gains. Still working on that... My native style(if one can call it that) is to hold longer. Maybe there's a happy middle ground...

Yeah, I hear what you are saying. I've been experimenting with scalping. My win rate(which is always deceptive) is almost 100%(at least high 90s). If buy then offer out a few seconds later I always win. I find it exhausting to trade like that. Maybe I just need to train myself. Just...

This is why some high earners are scraping by according to one blogger. https://www.financialsamurai.com/scraping-by-on-500000-a-year-high-income-earners-struggling/

Haha. Yes, that's what I trying to do now in between my biz/job/family duties. Back then, I was a free man. Younger with little obligations. Also back then I had access to large capital from the firm risk-free. You could buy as many shares as your manager let you. There were guys throwing...

I didn't write the article. Why are you asking me? I'm just posting industry news. Earlier in my career, I started out in quant research at an investment management firm. There were also "traders" at these large mutual funds/investment management companies. All they really did was executed...

You must understand that most "traders" at banks are just execution traders. Those are the traders that have been replaced by machines. Traders who run their own book are prop traders. Very few traders are prop traders at banks. After Volcker Rule, banks shut down their prop trading desks. Some...

I totally agreed with your points. I was just merely posting an industry news article. Most people don't have enough trading skills period(manual or auto trading). Even for people who work at these banks, they are just using their tech skills and getting paid for them, but NOT all are actually...

https://news.efinancialcareers.com/us-en/312931/algo-trader-trading-programmer-coding/?mi_u=546,535,002&utm_campaign=JS_EDI_MC&utm_source=AMS_US_ENG&utm_medium=EM_NW&mi_locale=us-en "I had a great 25-year run as a Wall Street trader, but I have had to adapt to stay relevant. I have focused on...

While I agreed with you broadly, I would qualify that statement with "it depends" on the type of trading you do. Some trading requires lots of academic training as just the entrance fee. Rentech and other quant firms hire PhDs and other quantitative types and specifically said they don't want...

Finishing up my taxes for 2017. IB allows me to look at my last 3 years of Form 1256 which is basically futures contracts. I'm glad I examined that data in detail. I take it back! My biggest losses were NOT due to shorting index futures! Whew! Amazing what looking at data vs anecdotal memory. I...

While true, you will be "fired" if you blow up your account. haha