cool stories from a proprietary trading firm

[vanzandt]

Which basically confirm how I thought proprietary businesses traded, by averaging into positions:


bold here added by me

At

https://www.reddit.com/r/path%3D%252Fr%252Finvesting%252Fcomments%252F480qjf%252F

Wow....
Thats some cool Bobby Axelrod "Billions" stuff. And accurate. I remember when Bear went down. People on the Yahoo finance boards at the time were going nuts screaming about buying it below $35. Intuition told me something was up. I didn't buy. I actually mocked them for fun.
That was a very enjoyable post though.... as the one guy said.... keep em coming.

 

[dealmaker]

Wow....
Thats some cool Bobby Axelrod "Billions" stuff. And accurate. I remember when Bear went down. People on the Yahoo finance boards at the time were going nuts screaming about buying it below $35. Intuition told me something was up. I didn't buy. I actually mocked them for fun.
That was a very enjoyable post though.... as the one guy said.... keep em coming.

Let's not forget Cramer recommending BSC as a buy/ long, one day prior to going under.

 

[SoesWasBetter]

Wait, what? You worked for him and he CHARGED you money? Am I missing something?


I assume I made that list of sharks? On a serious note, anyone on the institutional side of the business eventually has to become a "mentor". After a certain point, you need to hire people and train them, otherwise you end up doing everything yourself.

That's right, and none of them advertise here or anywhere else.

Thanks for making my point for me

 

[vanzandt]

That's right, and none of them advertise here or anywhere else.

Thanks for making my point for me

Is it gonna end Soes?

 

[sle]

That's right, and none of them advertise here or anywhere else.

Well, most do advertise directly, use a head-hunter or, for really junior people, recruit on campus. There is a lot of competition for good people, to be honest (or maybe I am a loser that can't attract talent )

I am still confused about the business model of mentorship for a fee and since we are talking, might as well interrogate you. Is the idea that some senior guy, who is already trading his capital and needs help doing the scut work, gets some poor idiot to help him AND charges money for it? Isn't that equivalent of asking the prostitute for money after you fucked her? (pardon my analogy, if there are ladies passing by)

 

[SoesWasBetter]

Folks think they can buy a clue
They can't

For the most part, those with a real clue, don;t have the time or desire to share it with goofballs.

 

[fordewind]

here comes the rain again....

 

[Chris Mac]

You really have to be just a Master of One thing...Japanese traders CIS and BNF come to mind here.
They only follow and trade the broad index on a daily, or overnight and/or a swing basis.

WRONG, "part art part science" Lougar ! Again you talk you talk and you know nothing !
CIS and BNF day trade japanese stocks for years, and some international futures.
ZERO swing trade.
It's better to remain silent and be thought a fool than to speak out and remove all doubt

CM

 

[lawrence-lugar]

WRONG, "part art part science" Lougar ! Again you talk you talk and you know nothing !
CIS and BNF day trade japanese stocks for years, and some international futures.
ZERO swing trade.
It's better to remain silent and be thought a fool than to speak out and remove all doubt
CM

Calm down, angry bitter failed trader. Don't take your frustrations out on me.
There's so many jumpy, anal people here.

I mentioned day trading, and overnight, and maybe swing...because whatever little information there is on CIS and BNF...it briefly mentioned those things vaguely years back. If I recall, they both started out with stock, but then traded the broad index only. They kind of had to, they got too huge.
Swing by definition is more than one day, or just overnight...I think CIS did some trades longer than just those holding periods.

The bottom line, compounding is a powerful thing. It's bigger than the atom bomb dropped on the Japanese.
If you were dropped in an ocean, you can create a small tidal wave...if you have the trading skill. Devastating killer tidal waves can't be created in swimming pools or lakes.
Make Trading Great Again 2018...High-Five`

 

[Chris Mac]

Calm down, angry bitter failed trader. Don't take your frustrations out on me.
There's so many jumpy, anal people here.

I mentioned day trading, and overnight, and maybe swing...because whatever little information there is on CIS and BNF...it briefly mentioned those things vaguely years back. If I recall, they both started out with stock, but then traded the broad index only. They kind of had to, they got too huge.
Swing by definition is more than one day, or just overnight...I think CIS did some trades longer than just those holding periods.

The bottom line, compounding is a powerful thing. It's bigger than the atom bomb dropped on the Japanese.
If you were dropped in an ocean, you can create a small tidal wave...if you have the trading skill.

CIS and BNF apply same strategy : buy/short at the opening stocks with huge interest and take profit fast. And yes, compounding is a powerful thing, I agree. CIS started with 10 000 dollars 15 years ago. But this is another subject

CM