Why are some branches more profitable than others? What attracts good traders to leave one branch for another?
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Swift Trade secret to success?
- Thread starter profit1.000
- Start date
there are 100+ branches of swifttrade now....and i would guess (now i said guess so i could be off) that there are 15 or less of those hundred branches that know how to trade millenium profitably. And stop calling it arbitrage because arbitrage implys instant free money....and millenium is far from instant and free.....it is just a strategy that when performed correctly can be quite profitable...but it can also be very very costly when done wrong.....
so even if my guess of 15 branches having traders that trade millenium is off....the most it would be is 25....so that would leave 3/4's of the branches in swift trading other strategies besides millenium....and obvioulsy these branches are profitable or they wouldnt be open.
so even if my guess of 15 branches having traders that trade millenium is off....the most it would be is 25....so that would leave 3/4's of the branches in swift trading other strategies besides millenium....and obvioulsy these branches are profitable or they wouldnt be open.
Which firms in the US have NYFIX?
Quote from madmunny:
And stop calling it arbitrage because arbitrage implys instant free money....and millenium is far from instant and free
Holy relax! i just asked a question because i know nothing about this...i'm a hedged trader (but short and long term) so i know there's no perfect strategy, just managed risk - because we all know there's risk in everything you do.
so even if my guess of 15 branches having traders that trade millenium is off....the most it would be is 25....so that would leave 3/4's of the branches in swift trading other strategies besides millenium....and obvioulsy these branches are profitable or they wouldnt be open.
Maybe not, a few years back when i was in swift i would say our office didn't really have a strategy and collectively the traders weren't making money... but the office didn't shutdown and from what i've heard is now doing quite well.
Quote from madmunny:
And stop calling it arbitrage because arbitrage implys instant free money....and millenium is far from instant and free.....it is just a strategy that when performed correctly can be quite profitable...but it can also be very very costly when done wrong.....
Look, you Millenium boys need to stop getting so sensitive on the topic and stop letting it attack your pride. As the saying goes "better lucky than good" so just be happy that you were lucky be one of the early entrants to work the Millenium gimmick, which the Hamilton branch milked for at least 2 years like a money printing press. It was basically arbitrage at first, but after a few years, the gimmick has been spread out and nowdays it is far from instant and free. Just like bullets, the first few guys made a killing, because it was so easy as large market shorts sat for hours waiting to get hit down. Then it spread out, got more competitive, and the early adopters that survived became like the wolves running games on the new prey (i know you guys start gaming the new entrants). Plus, NYFIX & the institutions caught on, just like NYSE & institutions caught on with bullets.
It was a great gimmick, still is, to a much smaller extent. I've stated it before, the guy who originally started it is a smart mofo and thinks the right way. So stop getting all frissy whenever someone calls out Millenium "strategy" for what it really is. Don't know if you have done so yet, but there is another ATS that may have the same exact opportunities with similiar barriers to entry that Millenium used to have.
I donât know where this millennium thing came from I have been at swift for about 6 months now and am already consistently profitable and have never once use millennium and know for a fact that not one person in my branch has. If you want to ask me what swifttrades secret is the community people actually help each other here.