Why being a quant trader is the smartest and most profitable thing you will ever do!!
I just sent this to someone:
I really like SOME 3rd party platforms a lot like Deltix or QuantHouse. Here are a few items you need to consider:
1. Are you able to afford anywhere from $6K-$9k a month? TradingTechnlogies X_Trader will most likely be in the same range. Are you really wanting to be held hostage depending on this type of trading platform leasing service. From my POV, I am not sure I would follow that path. All in all, you want to own the source. No licensing restriction or limitations with absolute sky is the limit scalability. Most of all, you are not tied to one broker or data provider as some retail platforms will have you locked in at.
2. If you choose a more affordable trading cloud based service (i.e. < $1K/month), are you comfortable with having your potentially profitable secretive strategies on another server that could be stolen? All in all, I don’t trust these operations no different I am leery on ANY trading brokerage with a market making division. Sorry to say but I heard nightmare stories let alone putting your secret sauce strategies on these remote servers? I want to own my own hardware in my own secured environment. Notice I have listed OWN three times in the last sentence. |->. You want to control your own trading operation from end to end. ALL OF IT!
Here’s what I got:
If you want to be a successful quant trader (or really any high speed automated/algo trader), 90% of your job will be programming. Unfortunately you cannot get around it no matter how you slice it.
As for outsourcing those skills, I would not even venture down that path. You would have the same issues I listed above where you lose control or even have your trading ideas stolen. If it happens, good luck in trying to have a lawyer chasing some coding thief in another far away country. Uh uh. No thanks.
If you have control of a local trading and coding army or team, that is a different matter.
You mentioned you want to get a system quick to market ASAP. I have a trading course that shows the whole enchilada ranging from real time data capture, archiving, the most advance software on the planet for trading ideas called Matlab, and most of all the charting!! I will say you will love it with the pretty colors at night during the holiday season. I have seen a neural network charting demo with green and red trading decisions which looks great around Christmas. Anyhow, you get the idea.
After that, I choose programming languages that are fairly easy to pick up. I have studied many programming languages but honestly I like .NET and C# the best! Even if you are new to it all, some of my suggested books will get you up and learning really quick. The key is to being driven and wanting to learn to implement. Yes..any successful entrepreneur knows….you need to work at it to achieve success. Sorry to say for the lazy people. There is no such thing as a trading system in a box which will make you a billionaire the next day. If you do, you will make a sleazy salesmen very happy as he is laughing all the way to the bank with your hard earned money. The banking and trading brokerage industry call that the dumb money. I don’t want people to fall into the scam (I mean investment opportunity or program or system). We are here for the long run as in three years already.
Oh yes, we got community of an awesome webinar group where we help each other out. Check out my Linked In or Meetup groups or Youtube channel for that. We are here to help and make you REALLY successful no matter what your level is at.
Hope this helps,
BryanFACEBOOK ACCOUNT and TWITTER. Don't worry as I don't post stupid cat videos or what I eat!