Algo/Auto/HF Trading

syswizard · Mar 25, 2013

Are there any prop firms out there that support traders who run trading systems ? I know this was discussed a long time ago, but that was over a year ago.

Also, the firm must support a decent programmable platform like Multicharts. I once tried using Laser, but it kept blowing up and they wouldn't fix it. I think Sterling Pro falls into the same category.

bone · Mar 25, 2013

Not remotely in terms of the futures complex. Every Chicago firm that I am aware of requires their W-2 employee traders to be physically located at the firm.

syswizard · Mar 25, 2013

Quote from bone:

Not remotely in terms of the futures complex. Every Chicago firm that I am aware of requires their W-2 employee traders to be physically located at the firm.

I hear you. But doesn't this seem like a great idea ?
I mean everyone's been saying the old prop model is dead and discretionary trading is dead as well.
Why not this ?

dealmaker · Mar 25, 2013

Quote from syswizard:

Are there any prop firms out there that support traders who run trading systems ? I know this was discussed a long time ago, but that was over a year ago.

Also, the firm must support a decent programmable platform like Multicharts. I once tried using Laser, but it kept blowing up and they wouldn't fix it. I think Sterling Pro falls into the same category.

Just about any large prop firm will do that however, you will have to disclose your edge.

syswizard · Mar 26, 2013

Quote from dealmaker:

however, you will have to disclose your edge.

You mean show them the source code ? I don't quite "get it".

Also, most of the large prop firms do not have an easily programmable auto trading platform. That's been the really big problem.

dealmaker · Mar 26, 2013

Quote from syswizard:

You mean show them the source code ? I don't quite "get it".

Also, most of the large prop firms do not have an easily programmable auto trading platform. That's been the really big problem.

Are you kidding, Sterling and Redi are the easiest in the industry. They can't let you run any program without understanding what you are doing, I am sure they don't want to be another Knight Trading.

jb514 · Mar 26, 2013

Quote from dealmaker:

Are you kidding, Sterling and Redi are the easiest in the industry. They can't let you run any program without understanding what you are doing, I am sure they don't want to be another Knight Trading.

Prop traders generally have a risk check the Knight scenario is fairly unlikely. A firm that doesn't let you trade outside the office is really strange. I trade colocated most of the time but I'm usually in the office. A lot of guys trade from home too.

You should be able to do what ever you want. No one has ever looked at my code nor is there anyone at the firm that codes(other than a few traders).

coachd · Mar 26, 2013

my programing knowledge is very very limited and I was able to program within Sterling without even thinking about it. In the past I also heard that Hold Brothers Graybox is also very easy

syswizard · Mar 26, 2013

Quote from jb514:

A firm that doesn't let you trade outside the office is really strange. I trade colocated most of the time but I'm usually in the office. A lot of guys trade from home too.

You should be able to do what ever you want. No one has ever looked at my code nor is there anyone at the firm that codes(other than a few traders).

Pray tell JB, who are you trading thru ?

bone · Mar 26, 2013

Quote from jb514:

Prop traders generally have a risk check the Knight scenario is fairly unlikely. A firm that doesn't let you trade outside the office is really strange. I trade colocated most of the time but I'm usually in the office. A lot of guys trade from home too.

Again, just to add this caveat once again, this is certainly true for an equities prop business model where the trader contributes capital.

I am not aware of remote futures trading using that business model. Futures exchanges ( the CME principally ) generally speaking require member electronic firms to pay their employees on a W-2 and for the firm to take on all of the risk. So, no way on God's green earth those firms are going to let a newbie trade remotely.