Remote algo trading firms

S

Seanye_West

Hey everyone, first post here.

I apologize in advance if this question has been asked multiple times. But I am looking for some informational on firms that allow remote algo trading? And what does a normally structured deal look like?

A little about myself, is I am currently a fourth year med student, but my undergrad degree is in mathematics and I have a masters in applied and computational mathematics. Never really had an interest in finance or trading until last year, and I started messing around with it and after many ideas, backtesting etc. I now have a profitable intraday trading model (on paper). Looking to actually trade it live but have very little idea as to where to start or what to expect when it comes to navigating the prop trading world.

Anyway, thank you to anyone who can give me a nudge in the right direction.
 
Seanye_West said:
Hey everyone, first post here.

I apologize in advance if this question has been asked multiple times. But I am looking for some informational on firms that allow remote algo trading? And what does a normally structured deal look like?

A little about myself, is I am currently a fourth year med student, but my undergrad degree is in mathematics and I have a masters in applied and computational mathematics. Never really had an interest in finance or trading until last year, and I started messing around with it and after many ideas, backtesting etc. I now have a profitable intraday trading model (on paper). Looking to actually trade it live but have very little idea as to where to start or what to expect when it comes to navigating the prop trading world.

Anyway, thank you to anyone who can give me a nudge in the right direction.
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Do you need a prop firm? Can you fund the account with your own funds?

Bob
 
Robert Morse said:
Do you need a prop firm? Can you fund the account with your own funds?

Bob
More...
Hi Bob,

Thank you for your reply. I have about 15000 I can use for trading but that won't allow me to day trade under the pattern day trading rule as I understand it.

I would have to wait till next July when I start residency in order to have the 25k. I guess I can hold off trading until then but I much rather not.

I am proficient in R and remotely familiar with python so I am also looking a firm that can assist in taking the model and actually coding it while I maintain IP ownership
 
Maybe you could spend a few years working on code, swing trade futures, and when you get full MD salary you could scale up. If you are smart enough to write good Algo during med school I'm sure you can come up with something for swing trading.
 
Doctors seem to be the largest profession that are active traders, IMHO. I am sure you will meet plenty in your future career. You may get a leg up with trading/investing in biotech, medical supplies, etc. There are a lot of options these days for automated algo trading - you may want to consider a subscription to 'Technical Analysis of Stocks & Commodities' to learn more about the various brokers & platforms.
 
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Focus on the mathematical ideas. Seems you're already there. That's where the big money ideas are...

Maybe one day you will be running your own Rentech, TwoSigma, etc...if that's what you want.
 
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Thank you for your suggestions.

@comagnum you are correct with you assumption in regards to physicians being active traders. That is actually how my interest was peaked. On of my attending I was speaking to is a very active trader and he got me started on this path. I will also take a look at Technical analysis of stocks and commodities like you suggested.

@baggerlord swing trading is something that I did look at first but found that my idea worked much better on the intraday scale. It also took me a long time to even develop my first model. Going back to the drawing board to work on something for a longer time frame will be months for me at best. I have the disadvantage of having to learn finance as I go, but at this point it might be my only option.

@wave I will be sticking to mathematical ideas mostly because that is all I know. I have no financial background what so ever. Running my own RenTec or TwoSigma is really ambitious but you never know. I appreciate the encouragement and will keep plugging along.
 
What are you trading equities, futures, options, FX, etc?

I was looking for algo prop firms a while ago, but didn't find anything that seemed to make sense for me. I have a bit more capital (low 6 fig), so my motivation was to get lower commissions and possibly cheaper data access through the firm rather than having to pay a 3rd party data vendor (which would have cost me $800-3000/mo + exchange fees).

Most prop firms I see mentioned don't really offer a lot of capital (at least at first) and are quite protective of their capital (understandable). Because you would likely not get much capital and possibly have to modify your algo to comply with the firms risk and other restrictions, by the time you get to the point that they give you decent capital, you may have just been able to save up yourself.

If you do happen to find a reputable algo prop firm, please post here as I'm interested as well. Good luck.
 
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