I have a system, now what

Quote from dude_03:


I agree this is a more reasonable approach.
But exactly, the problem is that I don't have an actual track record, so I expect to be asked to give up the Intellectual Property...

does anyone have any experience on this?

Do you guys think it may be different if I join prop firm?

Thanks again
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Why don't you go talk to them and see if there's an offer to be worked out. You might be (1) a reasonable seasoned quant on the sell side with enough background that a big boy quant shop might want to fish you in and work something out with you, or (2) a junior quant working on some desk risk model, in which case, your trading model is likely worth a whole lot less than you think.

In any case, you might want to consider trading on your proven human capital rather than some untested IP.
 
So, with your numbers I got some more feel of where exactly you are currently in your trading strategy development life cycle. From your numbers, my guess is you will discover a lot more things about the market over the next year and your improved strategy a year down the line would be much better compared to what you have now.

hilo gave you good practical advice. You may go that way.

However if you find getting a foot in the door is hard, then I would say: come up with your 50k and start trading the strategy on auto. Or if compliance stops you, trade through your uncle or your girl friends account. Give yourself 1 more year at your job and keep improving your strategy. At the end of your 1st year, you would have gained real trading experience and made some money and saved some more. Good luck.
 
Quote from hilojack:

The advice from ct10gov is right on. Find another shop that does quant strats. Don't forget, you also have experience as a quant which is always a marketable skill to a prop desk/hf/CTA.

You may have to take a pay cut in salary to get in door, but if you go in explaining that you have strategies, that you want to put into production then at least your role is clear. So you can model the strats while you are working on other things for the shop. Essentially this starts out as them demo trading it for a while, then committing a small amount of capital, then more as it does well.

With a strategy that only places a handful of trades a day, you have ample time to do other things, including come up with other strategies.

I know of many firms that operate this way, including the one that I work with.

Good luck.
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Would you mind sharing here or via PM the names of these firms?
 
Quote from dude_03:

Interestingly, it's not for the money itself. A quant career can be very profitable and almost riskless/stress free, and mine is well launched at the moment.

If we count the number of people who "made it" trading, I think odds say that I should stick to quant.
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-1
 
Quote from dude_03:

I have been working for >2y years as a quant in a prop desk in a bank, while developing a automated system overnight and on the weekend.
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A lot of banks will run prop algo strategies.

You may have to merge your stuff with some client flow in order to sell it.

Just find the right bank, or the right group within your bank.

Probably best not to mention the bit about trading-on-your-own-account, you sneak sneaky quant :p
 
Quote from dude_03:

Would you mind sharing here or via PM the names of these firms?
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Just about any firm in chicago would listen to your idea. You wouldn't need to go into detail; they would know if it makes sense.
 
Quote from oldtime:

the poor guy has been talking to computers so long, he doesn't even know how to talk to human beings anymore
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Yeah, machines are rational, some human beings don't talk much sense.

Or please prove me wrong, always happy to see things from new points of view.

And if it's for the remark about people who made it trading - agree, not clever to say something like this in a forum called Elite Trader, but well, I think that's reality.
 
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