Creating own trading system
- Thread starter j2ee
- Start date
that I strongly disagree with and have never heard before. For trading architecture development yes, for strategy development a resounding no. You would not be fumbling around in the way you are if you had managed risk for prop books for years and understood market dynamics. I am saying that because that is what most hft shops are after, I get 2-3 calls by head hunters a week who try to lure me to hft shops. The reason I decline to even speak to houses such as Getco is that their compensation structure stinks big time. You get paid mostly discretionary bonuses which are very loosely tied to the performance your strategies generate. If your strategies perform badly you are out, if they perform greatly out still end up with your relatively measly 400-500k even if you generated 20 bucks in a year. Compensation structures such as that are heavily stacked in favor of the firm and I do not see how I end up with a better deal than running on my own. Plus your IP is out the door, as soon as you walk in with strategy ideas or a new algorithm it is taken apart and gone.
Fact remains that most hft houses fumble to hire those with direct market experience, be it on the prop trading, market making (preferred) or systematic trading side of things. Please tell us how a Physics Phd adds value to a hft team. He/she may understand how to sample and analyze data from a statistical and mathematical perspective but he/she knows nothing about market dynamics, extreme events and market reaction to such events, you can't just tell anyone to take a look at some time series for a few weeks and voila, there you go, you created a new micro market dynamics expert. And anyway, hft algorithms are extremely simplistic, complexity wise, no need for an IT wiz kid.
Fact remains that most hft houses fumble to hire those with direct market experience, be it on the prop trading, market making (preferred) or systematic trading side of things. Please tell us how a Physics Phd adds value to a hft team. He/she may understand how to sample and analyze data from a statistical and mathematical perspective but he/she knows nothing about market dynamics, extreme events and market reaction to such events, you can't just tell anyone to take a look at some time series for a few weeks and voila, there you go, you created a new micro market dynamics expert. And anyway, hft algorithms are extremely simplistic, complexity wise, no need for an IT wiz kid.
my last post to you (because I think you got enough advice, time to put in some of your time to get to work on your part):
This below is the typical "let's catch the idiots" type of job ad. Nobody in their right mind who has the luxury to call 2+ sharpe ratio (non hft, 5+ hft) strategies his/her own should EVER fall for those offers. Those guys are harvesting strategy ideas and once you walk them into their office your death is sealed. They may either abuse you as coding monkey, if you know how to program well, or let you sit around for a while before you get "let go". I heard the same stories over and over and it does not matter whether we talk about small hft shops or the Millenniums of the hedge fund industry.
This below is the typical "let's catch the idiots" type of job ad. Nobody in their right mind who has the luxury to call 2+ sharpe ratio (non hft, 5+ hft) strategies his/her own should EVER fall for those offers. Those guys are harvesting strategy ideas and once you walk them into their office your death is sealed. They may either abuse you as coding monkey, if you know how to program well, or let you sit around for a while before you get "let go". I heard the same stories over and over and it does not matter whether we talk about small hft shops or the Millenniums of the hedge fund industry.
can you pls stop posting bullshit and just think before you post? Nobody does things because clients give permissions to do so. Any player in this industry tries to bend the rules as much as justifiable from a risk and compliance perspective. In the end regulators and governments set the rules not clients. Companies try to work around rules and try to utilize loopholes. One of such loop holes is to let desks trade prop books under a "facilitation" umbrella, a type of trading where the bank buys risk from clients to offload it in the market at the same or later point. Facilitation desks have leeway in how long they want to warehouse such positions. Great place to sneak in a prop book or two. Please do not talk about things you know nothing about.
funny, as you seem to say that in every thread in which you add zero value, participate not at all, but troll and wait till the page count reaches 30+ before you unpack your ax. This is a fucking website with mostly total idiots and morons and I would love to be booted off the site. Admin do you hear me? I am done with this thread. What a waste of time. Carry on morons!!!
Quote from Equalizer:
This would have to be one of the funniest threads on ET. EVER.
Clearly your meds ain't working (remember those deleted maniacal rants of yours in the MC .net thread?).
First you waste time answering uber troll's (j2ee) rants, and then - FINALLY - the penny drops and you figure out he is a complete and utter idiot posting bullshit.
In case you haven't figured it out yet, there is no need to add anything to a site of pure comedy. Not even on comedy central do we laugh at characters like yourself or j2ee. Anyone, who has shown that a modicum of effort has been expended to figure the answer(s) to their question(s), and asks serious questions shall receive serious answers. All others asking stupid questions should be laughed at.
Take it for what it is. Either enjoy the comedy and prodding the deranged monkeys, or phuck off. Yes we know you were previously banned under a different handle.