This is one of many posts you will see on this.
Source: http://www.reddit.com/r/IAmA/comments/9s9d7/iama_100_automated_independent_retail_trader_i/
macdude 1 point2 points3 points 6 months ago[-]
Top of Form
you should do an IamA!
Bottom of Form
mindhacker 2 points3 points4 points 7 months ago[+] (29 children)
mindhacker 2 points3 points4 points 7 months ago[-]
Top of Form
- What is your technical background?
- Your financial background?
- How much do you make on an average per annum?
- Do you work alone? If yes, would it be better if you had a team?
- Finally, how can one reach the position you are in currently, in terms of time, knowledge, investment etc.
Thanks!
Bottom of Form
mejalx [S] 15 points16 points17 points 6 months ago* [+] (28 children)
mejalx [S] 15 points16 points17 points 6 months ago* [-]
Top of Form
- BS Operations Research/BS Computer Science. I worked as a software developer at a technology consulting firm.
- I was making 65k/year for several years. After expenses I was an average middle class employee. I started trading with around 35k and then later borrowed additional money from family and friends.
- After taxes, business expenses (I operate through a single member LLC), I earned a little under 7 figures in 2008. I’ve since ramped up volume, but I’m lagging behind last year.
- Yes, I work alone. I am in contact with others traders, but mostly we just bullshit around and speculate on the future of our economy. I’d love to have a few people to bounce ideas off of and to get more perspectives. I’ve entertained the idea of going past a single member LLC and attempt to expand, but the business is cut-throat and I’ve only got a few good edges.
- I was honestly clueless when I first started trading. I’ve got to admit I got roped in by the great advertising, flashing lights, indicator loaded charts, and of course the lure of fast/big money. It didn’t take me long to abandon all of that garbage. From there on, I, being a computer science guy, decided to stick with automated non-TA based strategies. I was also lucky enough to have an incredibly experienced trader teach me the ropes and a couple of really important lessons. I never looked at the market the same way and developed my strategies upon those principles. It took me around 7 months from inception to have a working trading model with a sizable edge, which I started trading with 26k (down from 35k at start). There were a couple of books that helped me along (On modelling, derivatives, etc), and my stats knowledge also came in handy.
Bottom of Form
mindhacker 6 points7 points8 points 6 months ago[+] (6 children)
mindhacker 6 points7 points8 points 6 months ago[-]
Top of Form
Very interesting read. A couple more questions if you don’t mind.
- What is the most counter-intuitive thing you have learnt over the years?
- What are the hours like? (time during trading hours + time spent developing the platform)
- What kind of hardware do you run on?
- What languages do you use?
- Is your competition similar to you (computers background, single person LLC) or are you unique?
Thanks again for your valuable time.
Bottom of Form
mejalx [S] 13 points14 points15 points 6 months ago[+] (5 children)
mejalx [S] 13 points14 points15 points 6 months ago[-]
Top of Form
- I’ll have to get back to you on that. First thing that came to mind was how I developed a complete detachment from the money at stake, but that’s sort of lame. I feel like it should be some market parable, like the triend is your friend until it ends? Let me get back to you on this.
- I usually do a 8-6 routine. Since I’m mostly automated, I can work on research during the day.
- It’s all commodity hardware running linux. I’ve got three servers colo’d in New Jersey. I have a little control center in my office from which I keep tabs on everything.
- I’m ashamed to say, but my infrastructure is basically a rig job. My goal was to get running as quickly as possible and I’ve basically glued various components together, which means I’m mixing C++, Java, Python. I try to do most of my work in Python and then I’ll drop back to C++ for performance requirements. I’ve been trying to harmonize things, but that task usually takes the back burner to strategy research/development.
- I know of/met a handful of traders who are automated like myself. I’m sure there’s quite a few of us out there, but the game is controlled by larger players.
Bottom of Form
evilbunny 1 point2 points3 points 6 months ago[+] (4 children)
evilbunny 1 point2 points3 points 6 months ago[-]
Top of Form
NOTE I now post my TRADING ALERTS into my personal FACEBOOK ACCOUNT and TWITTER. Don't worry as I don't post stupid cat videos or what I eat!
