Quote from Don Bright:If you think there is or ever has been any type of "program" that will guarantee profits, I would love to see it.
Your Luddite is showing again. Most of today's trade is executed by automated systmes. What you miss when you bash HFT is that they are simply better at scalping ticks than you ever were and they do it using technologies that seem far, far from your understaning.
Almost anything you can define precisely enough to teach/train can be programmed.
We offer capital, training, and continuous support. Sorry, no free money or blue sky or dreams. Just support for serious people. Don What's missing is a better than even chance of success. With no stake in trader success it leaves you looking like a broker with sub-standard technology.
Don,
The problem is that what you offer is not enough. The results produced are the reason for the decline in your shop and in the industry.
Your model screams that you have no faith in your ability to produce profitable traders. A model that relates your shop's profits to those of your traders would add credibility to you and your industry. As it is, you earn while most of your applicants fail.
I will never forget my feeling of shock when you told me in no uncertain terms that 1) No one makes any money trading futures and 2) there was no software that could help anyone trade or learn to trade.
Even today I am shocked by the hubris you display when you flog your program and even more so when you speak of offering automated systems. If these systems were worth anything at all - what would you need traders for?
Given your attitude about technology it is no wonder that you are unable to demonstrate any that is even near the state of the art. You indicate that you have sniffed around a bit - maybe you have been sniffing in the wrong places.
I don't believe that the future of prop trading has anything to do with anything that is done at your shop and until that hits home enough for you to make some changes in your training, technology and business model, I think it will stay lonesome in your shop and you will have plenty of time for poker.
I am a published author and while my next work is about short term trading, trade decision support technologies and systems development - it will most probably also discuss what I see as the ins and outs of this industry and this kind of deal.
To be fair and professional - if you think you have either concepts, models or technology that might change my impression and would care to enlighten me - I would be happy to drop in, I live close by.
Jack
