How did you learn the intricate rules of trading Futs and Opts ?

[Baozi]

LOOL We all know who this is directed towards!

I feel like this is how the standard PM to dest goes.

Everyone : "Hey Dest, how do you choose your butterfly strikes"

Dest : "I look at a local vol model before I flip delta and gamma. Then I see if the payoff is bimodal. If it's not I create a truncated distro to model the area under the curve. After that I price the risk reversal and check the polar coordinates of the dgamma/dvega".

Everyone : "That's awesome! Can you explain it again in english."

Dest : "Sorry I can't get into details".

Gotcha!

 

[traderwald]

You forgot to include one important choice in the poll: OJT, in other words, learning by doing.

I agree .. I guess most of the votes for the 'Other' option are for 'Hands on trading' ..

Not sure if there is a way to update the Poll.

 

[voldrop]

I recently started follow @destriero. It seems like he's using some complex tools to do his modeling, nothing near to what a typical retailer would have access to

 

[Overnight]

I recently started follow @destriero. It seems like he's using some complex tools to do his modeling, nothing near to what a typical retailer would have access to

He's not a typical retail trader.

 

[voldrop]

No he’s a pro. I’m reading a book about him. He was using neural nets in early 2k’s for entry signals. Most people didn’t know what that was back then. I wonder what kind of models someone like him would use. I’m sure it’s everything custom with ai for entry signals and trading in multiple world markets, otherwise someone can’t hope to trade like that.

 

[Overnight]

No he’s a pro. I’m reading a book about him. He was using neural nets in early 2k’s for entry signals. Most people didn’t know what that was back then. I wonder what kind of models someone like him would use. I’m sure it’s everything custom with ai for entry signals and trading in multiple world markets, otherwise someone can’t hope to trade like that.

Well, he's not a cyborg, either. He's a human being, hehe. Maybe pose a question here for him? If you prick him, does he not...bleed?

 

[voldrop]

He said in his journal recently that he was being questioned by the SEC for posting here and is leaving for good

 

[Kevin Schmit]

I wonder what kind of models someone like him would use. I’m sure it’s everything custom with ai

Rumor has it that he has the last known working copy of Ranger (formerly TICShell). Running on an old pizza-box SparcStation held together with duct-tape and baling wire. AFAIK only 12 copies were sold before some FX vol group in London bought the whole thing and it disappeared. Would have been circa early 1996, IRRC. Borish left TIC shortly thereafter, same with Hirshfield. Lead developer was a guy named Adler out of the Technion, with a one syllable first name -- Dan or Ben or something like that.


Edit: Borish left Tudor in 1994, according to Wikipedia. And he was in charge of the Ranger project. So my memory is obviously faulty on that 1996 date.

 

[contra]

 

[Kevin Schmit]

View attachment 206353

Yeah, that's Ranger.

When I first saw your post I thought "WTF? Does Contra have a copy too?" But now I see it is an old screengrab, probably scanned from one of the sales brochures.

If you've still got Ranger marketing material lying around, you've probably been in this business as long as I have.

The group in London who bought the Ranger Project were the Fenics guys. Again, IIRC.