One of my Facebook members sent me over a book that was suggested to be the Bible for all trading prop shops. As I have been lately on a rant on a variety of things, this one takes the cake. Many desperate people will gladly trade in these questionable firms. Many will think they are part of Wall Street. In fact, they are nothing but a monkey working for an old dinosaur firm that has no technology like today’s bigger modern firms.
Here is the book you may want to read about
It may be useful for some but let me tell you about how prop shops work. Back in the day, I had a hot shot young programmer approach me about describing his old job description. This entailed working for a prop shop to reverse engineer any valuable trader the firm may have had. They wanted to replicate their own trader’s success without their permission or knowledge of it. This is how corrupt the founders of these firms are. When it comes to cloud trading on these so-called crowd sourced platforms, you need to ask yourself if anybody’s lifting your trading intellectual property. This over the long run, is why many of them will probably not succeed or have any stellar performance.
In the end, I need to stress to control not only your own destiny but also own the source code for your trading infrastructure from end to end. This means you have no dependencies when it comes to your algorithm trading outside of your broker or data provider. Without it, you will depend on some highly limited software black box trading platform or be constrained in the capability to scaling out your trading ideas. Over time, you will lose your trading edge compared to the machines. It’s already happening now and you know it!
As you know, we are winding down this last opportunity that I will be giving to the world on all my source code that I’m already implementing for this NEW upcoming Quant Analytics service. There will be no extensions to all the late comers, me too generation, or none of that. Without exception, all access to my video walk-throughs and source code will be removed in coming weeks. Time ticks and it starts now!
2 DAYS AWAY Interactive Brokers API Q&A LIVE on Dec 10 at 10 AM EDT
Removal of Interactive Brokers API Workshop content Dec 17. As said, this will be turned into a standalone product in the range of $500+ with no bundling to any membership.
So if you want to get access to the last remaining days of both product, you should join now for obvious reasons!
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!