Quote from shadybrady:
I worked with M&N out of their now defunct office in Austin, Tx satellite office, so take what i have to say with a grain of salt....
Our 'training' consisted of us working out the basic math equations used to determine the yield curve spreads in their trades (which were ultimately calculated with their software) and then huddling around the senior trader for the rest of the day, watching the markets move, but not getting any hands on experience as far as using their software and getting comfortable with execution, which is 75% of the game with M&N. This went on for roughly two months before Chicago sent down any computers loaded with the simulators. From the moment we started trading on the sim, we were expected to have a full grasp of the technology and execution, as if you could learn to drive a formula one racecar by watching speedvision for 8hrs per day for two months.
The next six weeks were rife with technology issues as their proprietary software was unable to calculate and/or accurately display the spreads during high volume trading. There were literally entire days that the rookies couldn't trade because we had to decrease the bandwidth usage to allow the senior trader to trade. Our situation was not helped by the fact that the senior trader was hemoraging money out of every orifice of his body and when he asked for the money to upgrade our lines, Jim & Dave decided to cease funding the office. They didn't feel that we were progressing as rapidly as they had hoped, which was ironic considering our ability to trade was hamstrung by their unwillingness to invest in the infrastructure in the first place.
The last time i was given the opportunity to post about my experience with M&N, Jim characterized me as a 'bitter former trader' who was hiding behind the anonymity of my ET moniker. Embarassingly enough for him, he was still sending me their proprietary trading information, the supposed lifeblood of his eponymously named firm, to an email address that was all but anonymous. While i respect his pit trading pedigree, i find it hard to take seriously someone who has their head stuck up their own ass as far as Jim has his.
Quote from shadybrady:
I worked with M&N out of their now defunct office in Austin, Tx satellite office, so take what i have to say with a grain of salt....
Our 'training' consisted of us working out the basic math equations used to determine the yield curve spreads in their trades (which were ultimately calculated with their software) and then huddling around the senior trader for the rest of the day, watching the markets move, but not getting any hands on experience as far as using their software and getting comfortable with execution, which is 75% of the game with M&N. This went on for roughly two months before Chicago sent down any computers loaded with the simulators. From the moment we started trading on the sim, we were expected to have a full grasp of the technology and execution, as if you could learn to drive a formula one racecar by watching speedvision for 8hrs per day for two months.
The next six weeks were rife with technology issues as their proprietary software was unable to calculate and/or accurately display the spreads during high volume trading. There were literally entire days that the rookies couldn't trade because we had to decrease the bandwidth usage to allow the senior trader to trade. Our situation was not helped by the fact that the senior trader was hemoraging money out of every orifice of his body and when he asked for the money to upgrade our lines, Jim & Dave decided to cease funding the office. They didn't feel that we were progressing as rapidly as they had hoped, which was ironic considering our ability to trade was hamstrung by their unwillingness to invest in the infrastructure in the first place.
The last time i was given the opportunity to post about my experience with M&N, Jim characterized me as a 'bitter former trader' who was hiding behind the anonymity of my ET moniker. Embarassingly enough for him, he was still sending me their proprietary trading information, the supposed lifeblood of his eponymously named firm, to an email address that was all but anonymous. While i respect his pit trading pedigree, i find it hard to take seriously someone who has their head stuck up their own ass as far as Jim has his.