Remote Traders With Live Track Record Seeks Backing/Prop Firms

[sle]

I work in a proprietary firm before joining hedge fund as Derivatives Portfolio Manager.

I can put my own 50k today, but what can you do much with 50k?

Something does not compute here, right? By now, you should have the connections to find another gig as well as have enough cash to sit on the beach for a while.

Of course, the other opposite is yours truly who is stuck in the office at 3 am on Saturday morning.

 

[kimikaze88]

Something does not compute here, right? By now, you should have the connections to find another gig as well as have enough cash to sit on the beach for a while.

Of course, the other opposite is yours truly who is stuck in the office at 3 am on Saturday morning.

The previous firms I work for do agree on every of my situation but some terms that I cannot accept.

1) They will give me 10:1 leverages and all risk on me. For example I willgive them 50k and they will give me 500k account.

2) All risk is on me and they want 20% cut. Ok, I think this is a fair deal.

3) On top of that, they will charge me another 8% per annum for 450k. It will be carried forward.

4) They are using some sorts of broker in Hong Kong that the commisions are far worst than IB. Almost double the amount. (I believe they markup some there).

By calculation with the charges of 8% per annum and my trading cost expected around 6% per annum, this means I have to extract minimum 14% per annum to consider getting my cut or BE point.

I am not in the office and at my home by the way. It is funny that someone questioning my private life rather than asking what track records you have.

Anyway I will tell you before someone asking. My track records are fully verifiable with HK brokers or NYMEX, EUREX, ICE, CME through order book and under my own name.

 

[traider]

I introduce my situation first before going into question.

I was hired to Shanghai, China as a trader back couple years ago. I work in a proprietary firm before joining hedge fund as Derivatives Portfolio Manager. Last year, I quit my job and came back to my own country, Malaysia. I tried Google on prop firm and found elitetrader discussing.

Currently I am looking for prop firm that able to take remote traders. I need to highlight couple problem:

1) I am from Asia
2) I hope to trade remotely rather than flying here and there anymore
3) My strategy mainly focus on Futures and Options (MUST)
4) Overnight holding (MUST)
5) I don't want to become billionaire (So please don't tell me TST or E2T because I can't earn 6% every month consistently and I don't do speculation trade)
6) 10% risk and expected 15% - 30% ROI (Depend on market volatility) (Low risk, low return, high risk then make sure ready to go bust)

I can provide statement for year 2016 daily exchanges trading activity with USD 2.5mil account. Please take note that firm increased by partly to 2.5 because they only gave me USD 100,000 in the beginning. Maybe people wondering where is 2017 and 2018? This is because after I accept the offer as Derivatives Portfolio Manager with another hedge fund firm, my job is to internally hedge Single Underlying Structured Notes with market. That is my situation currently.

PS: Please also advise any prop shop that able to leverage 5:1 - 8:1 maybe. Probably that's my last option.

Can you specify what are the markets you need access to? Asian? American?
What is your strategy style? Is it some form of statistical arbitrage? Do you have systematic models or is everything purely discretionary.
What type of market access and latency do you need for your stratgies?

 

[kimikaze88]

Can you specify what are the markets you need access to? Asian? American?
What is your strategy style? Is it some form of statistical arbitrage? Do you have systematic models or is everything purely discretionary.
What type of market access and latency do you need for your stratgies?

At last I see someone with more constructive questions.

1) European and US markets.
2) Statistical arbitrage with Synthetic positons
3) Part of discretionary because high rely on volatility movement.
4) I don't need super good market access or latency.
5) Even SmartQuant with IB API works.

 

[silveredge]

It won't surprise me at all there are some haters with some criticism. Some people loves to concentrate on three digits return but when you manage millions, tell me about it. I can put my own 50k today, but what can you do much with 50k? A contract of Germany Dax margin maintenance cost you about Euro 11k and of course it is easy when you trade speculations type of trading. But if you need to build Delta One with couple of instruments, what is 50k? I doubt about that.

if you trade spreads, a 500k account is enough to get started. so you only have 50k after working as a trader, how is it possible, my former assistant in hk has saved more than that? you should just be realistic and go look for a job in singapore, low-level execution-type trading or whatever, save up to at least a quarter mil then rethink if you are any good or just shit material. think about it, average people like you are everywhere in hk and singapore. you are not gonna get anywhere with your lowly junior exp/pocket but poor senior attitude. you are like one of the million of junior actors, dreaming of a hollywood sponsorship.

 

[sle]

Anyway I will tell you before someone asking. My track records are fully verifiable with HK brokers or NYMEX, EUREX, ICE, CME through order book and under my own name.

The stuff you do, is it primarily systematic?

 

[kimikaze88]

if you trade spreads, a 500k account is enough to get started. so you only have 50k after working as a trader, how is it possible, my former assistant in hk has saved more than that? you should just be realistic and go look for a job in singapore, low-level execution-type trading or whatever, save up to at least a quarter mil then rethink if you are any good or just shit material. think about it, average people like you are everywhere in hk and singapore. you are not gonna get anywhere with your lowly junior exp/pocket but poor senior attitude. you are like one of the million of junior actors, dreaming of a hollywood sponsorship.

Thank you for your great advice and I appreciate that.

 

[kimikaze88]

The stuff you do, is it primarily systematic?

Yes, primarily systematic. A little similar to AutoCallable Notes and Phoenix Notes types of dynamic hedge but more frequent, not prior market close.

 

[traderjo]

just a side note about AutoCallable Notes!
Are they just a covered call?
what sort of upside participation/ yield and downside trigger?

 

[kimikaze88]

Not really just a covered call. What I mean is the type of hedging Callable Notes but with higher frequencies of balancing position.

Usually if we write a Phoenix/Phoenix Autocallable, downside trigger risk already diversified to the buyer. Hence, hedging will more focusing with Underlying and Bond position prior to market close. But in this case only trade with exchanges Futures and Options, I have to rebuild the dynamic hedging with higher frequencies to protect downside risk by giving up upside participation. This is part of the reason I am giving up a huge percentage of gain into trading cost to mitigate the risk of market exposure.