Reality for an Individual Trader

learner2007 · Mar 8, 2017

Zzzz1 said:
Of course anyone with ok trading skills is ALWAYS better off at a prop desk and equipped with a fixed percent take-home agreement than someone sitting at home.

Really? There are skilled traders who enjoy the financial and other freedoms of independent traders. You should try it, if you have the ability to join the real world of trading, that is!

Zzzz1 · Mar 8, 2017

that was well before algorithmic trading took over.

JSOP said:
I heard the Goldman Sachs hiring process is the toughest in the world. They did all that just for hiring people to push buttons??!! That's a huge waste of money if you ask me. I thought they wanted the best of the best of the best, the cream of the cream of the crop??

I dunno. Goldman Sachs is something that I never understood.

Buy1Sell2 · Mar 8, 2017

JSOP said:
Do pros REALLY receive market-breaking news like NFP numbers, Fed rate decisions and etc. faster than individual traders?

No--they don't.

Zzzz1 · Mar 8, 2017

google "elementized news feed"

Buy1Sell2 said:
No--they don't.

Buy1Sell2 · Mar 8, 2017

I don't need to. I already know that they don't.

Spectre2007 · Mar 8, 2017

JSOP said:
I heard of that but HOW do they get that news faster and earlier than an individual trader who has subscribed to the same news feed? That's my question.

A famous trading firm out of Chicago when pit trading was being phased out.. was started by a couple floor traders. They co-located and front ran the news by milliseconds,.. coded a program that read the news and triggered trades. Similar to was done in Forex bucket shops by someone I know. The bucket shops lost a couple mil..

Zzzz1 · Mar 8, 2017

you mean you think you know but obviously you don't

I know you don't

Buy1Sell2 said:
I don't need to. I already know that they don't.

Zzzz1 · Mar 8, 2017

Lol, and others made hundreds of millions a year. Geez.

Spectre2007 said:
A famous trading firm out of Chicago when pit trading was being phased out.. was started by a couple floor traders. They co-located and front ran the news by milliseconds,.. coded a program that read the news and triggered trades. Similar to was done in Forex bucket shops by someone I know. The bucket shops lost a couple mil..

recession2016 · Mar 8, 2017

Zzzz1 said:
Lol, and others made hundreds of millions a year. Geez.

even if you have the news ahead of time, you don't know how the market will react; it's gambling

Zzzz1 · Mar 8, 2017

ok, Virtu & Co must be gambling then (Virtu pioneered among many other fields in hft the trading of elementized news). If it's gambling then you must of course be right...

recession2016 said:
even if you have the news ahead of time, you don't know how the market will react; it's gambling