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To think hedge funds invest up to 30% of thier revenue to technology and quants. If they only knew for 150 bucks they can locate good trading opportunities. Heh funny, Greg

Option market makers are spread across several exchanges. Seperate firms have primary market maker responsibilities at these exchanges. This makes it tough to believe there's a conspiracy to identify buyers/sellers they interact with. They only can see who the representing clearing firm is...

Many times it will be somebody posting a market based on the relative value of another making it look like mindless tinkering. ...greg

Exchanges mostly if not all use last sale to elect a stop order. Systems like ours depending on the strategy will use either a TWAP or bid/ask. ....greg

Heh a secret code....very funny. ....greg

Many traders get distracted by wanting to get adding liquidity rebates. Often they overlook the impact of execution cost in missing a market. Especially true with any type of arbitrage strategy. I analyzed a few pairs traders executions and realized putting in Stealth, Waves and Priority was...

It's not easy getting around a distance problem. Being at least 25 msec away makes it a tough scalping environment. But there are shortcuts. For example have a algo server based in NY, where you tweak parameters. Several guys in California trade this way. ...greg

Market makers generally roll position to beta correlated products and will hold overnight or for days when needed. Also most maket makers are part of a large firm that has a global manager that handles overall systematic risk. (Large index move up or down) ...greg

If the development firm you deal with is reputable and plans on staying in the financial services business a NDA will cover your risk. In my experience traders often discount their personal value added in running a system. Most systems we automate for traders have some 40 parameters that will...

We've recently started using stop entries for portfolios that have gone beyond 1 standard deviation. Idea is to catch them upon their return towards fair value. (VWAP & Previous Close) Example of a trap: Portfolio: CAT.DE Weights: 1, -1 Previous Close: 2.49...

Sorry, I've been absent from this venue for a while. We do this for equities. Up to 5 levels of priority to order your executions. Waves to limit legging exposure. In addition you can have several components in your portfolio, this helps folks create products with less volatility vs...

Ok my original statement is still true, pick your BD very carefully. If they have to advertise and have training programs ever few months to keep the lights on, focus isn't 100% on the business of making money trading. Making it an unlikely choice for a career trader. ...greg

Very good ! Just like the local groups from the trading floor. So they value retention, great. If you could get me a contact number or email. Thanks...greg

Most prop trading firms run it as a pure dollar business and know the odds of a new trader being successful. Depressing concept but think of it this way. 80% of new traders fail and while in the process are going to trade say 1M shares over that period. So a typical starting pitch is a...

Sounding a bit self destructive. I guess if you have yet one trade to do what would it be. The root of this posting is "Trading for a Living". How's about buy it just above the 1 StdDev set a stop just below and move on to the next trade. buy/sell repeat. Only way to succeed is don't get...

Most technical analysis is based on what is most probable to happen next. With that in mind, I got an idea trade more products. Don’t cherry pick your opportunities and wonder why it didn’t make money you need a larger sampling. That and always know your standard deviation for each...

My suggestion to anybody just off the floor is to not freeze up. On the floor you were flipping positions often based on information and or brokers giving you the edge for varying sizes. Off floor key off of standard deviation as your risk control and be available to trade on every...

Reading Market Players Yes the players have changed, also more hidden identity/orders then ever before with new ATS's. Sometimes you can get tells looking at display size who maybe who, but is only a guess. Bottom line is your research material is dated and now you must tape read or...

Trading Office Setup This thread started with a comment about an office not really helping with a traders performance. I'd like to say the environment you trade in is key. It will give you focus and hopefully more information then you would get otherwise. A matter of fact you should fill...

I believe the major difference between success and failure of a trader is the ability to move from one strategy to the next without emotional attachment. Having a good strategy is like having the fastest sailboat in the fleet, you still need to read the water for wind shifts and still need to...