Tag Archives: prop shop

Are you a sucker who will lose to some prop shop or day trading desk?

Are you a sucker who will lose to some prop shop or day trading desk? Learn how to automate your quant strategies or financial models

Are you a sucker who will lose to some prop shop or day trading desk? Learn how to automate your quant strategies or financial models

https://quantlabs.net/blog/2013/09/are-you-a-sucker-who-will-lose-to-some-prop-shop-or-day-trading-desk-learn-how-to-automate-your-quant-strategies-or-financial-models/

This was queued up by a discussion of someone who wants to invest into a ‘prop shop’. This came up with meeting with the local prop shop as described below. It amazes me there are literally fools, idiots, or even suckers who fall for this. One lady lost $40k within a week. Maybe she deserved it because the markets don’t care about your money. Why do you think I am after an automating your trading strategy with what I am building?
Or join me on my march to an automated trading system with source code. I am hoping to release this bad boy real soon. Lots of workshops are being planned for my QuantLabs.net Elite Members.

–> JOIN NOW FOR IMMEDIATE ACCESS <–

Membership benefits listed here.

Thanks hoping for you to have a very decent trading day

Bryan

P.S. Sign up to my Daily Digest to get all my trading research on a daily basis. All your info is kept private!

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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!

Sucker who will lose to some prop shop or day trading desk? Learn how to automate

HI there

Are you a sucker who will lose to some prop shop or day trading desk? Learn how to automate your quant strategies or financial models

https://quantlabs.net/blog/2013/09/are-you-a-sucker-who-will-lose-to-some-prop-shop-or-day-trading-desk-learn-how-to-automate-your-quant-strategies-or-financial-models/

This was queued up by a discussion of someone who wants to invest into a ‘prop shop’. This came up with meeting with the local prop shop as described below. It amazes me there are literally fools, idiots, or even suckers who fall for this. One lady lost $40k within a week. Maybe she deserved it because the markets don’t care about your money. Why do you think I am after an automating your trading strategy with what I am building? Wanna be a sucker? Go for it!

Or join me on my march to an automated trading system with source code. I am hoping to release this bad boy real soon. Lots of workshops are being planned for my Quant Elite Members.

–> JOIN NOW FOR IMMEDIATE ACCESS <–

Membership benefits listed here.

Thanks hoping for to de well in thisse tough markets ahead

Bryan

P.S. For those that don’t know, I am not offering a Daily Digest service where you can get all my blog reseaarch and discoveries delivered to you each and everyday I work!

Go here for more details

HOW DO YOU START A PROFITABLE TRADING BUSINESS? Read more NOW >>>

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!

Sucker who will lose to some prop shop or day trading desk?

Are you a sucker who will lose to some prop shop or day trading desk?

Learn how to automate your quant strategies or financial models

Go here for more details 

This was queued up by a discussion of someone who wants to be part of a ‘prop shop’. This came up with meeting with the local prop shop as described below. It amazes me there are literally fools or even suckers who fall for this. One lady lost thousands within a week. The markets don’t care about your savings. Why do you think I am after an automating your trading strategy with what I am building? Wanna be a sucker? Go for it!

Or join me on my march to an automated trading system with source code. Lots of workshops are being planned for my Quant Elite Members.

–> JOIN NOW FOR IMMEDIATE ACCESS <–

Membership benefits listed here. 

Thanks hoping for you to have a nice Weekend.

Bryan

HOW DO YOU START A PROFITABLE TRADING BUSINESS? Read more NOW >>>

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!

Stop being a sucker and start beating the prop shops at their own game

Up to this point, your trading account’s probably been like fresh meat fed into a grinder to make sausage.

 

Not sausage for YOU, though.

 

Nope — it’s the prop shops and day trading desks who are stealing your lunch day after day and week after week.

 

And that’s not exactly a lot of fun, as you know from bitter experience.

 

So instead of getting bullied in the trading playground again and again …

 

… why not learn how to automate your quant strategies or financial models?

 

After all, you don’t have much to lose …

 

… and a whole LOT to gain by doing it!

 

You see, a friend of mine came to me asking if he should invest in a ‘prop shop’.

 

Except it wasn’t.

 

Basically, it was just a trading room where greenhorn traders aren’t actually provided with anything “proprietary”. Instead they’re given just basic trading education and then some hand-holding as they lose and lose and lose.

 

Sounds like LOTS of fun, right?

 

Not!

 

Now, it amazes me there are literally fools, idiots, and suckers who fall for scams like this. One lady lost $40k within a week at one of these “prop shops”. Maybe she deserved it because the markets don’t care about your money.

 

Or maybe she was just swindled …

 

… and nobody deserves THAT!

 

The key to winning is knowledge.

 

That includes how to do it right …

 

… while keeping your emotions out of it with an expertly programmed system YOU created yourself. Something you have total control over.

 

Something you can have complete confidence in, because you know EXACTLY what went into it.

 

Now, it WILL take a bit of work, but you’ll have something that’s yours. Something that works.

 

(And why be scared of a bit of effort as long as it’s productive? Because when you think about it, money never accumulates in the accounts of LAZY traders … does it?)

 

So don’t be scared. Be excited!

 

Because I’ll show you how to work smart. And how to get it right immediately without any wasted time. (Or money!)

 

So why not join me on my march to create automated trading systems complete with transparent, easily-tweaked source code?

 

There are LOTS of workshops coming up soon for my QuantLabs.net Elite Members.

 

–> JOIN NOW FOR IMMEDIATE ACCESS <–

 

You’ll get a HUGE leg up on your efforts to become a genuinely consistent winner with automated trading that really works.

 

So check out the link for all the benefits.

 

You really will save thousands of dollars and years of wasted time by letting me show you what delivers (and what doesn’t).

 

–> JOIN NOW FOR IMMEDIATE ACCESS <–

 

Have a very profitable trading day,

 

Bryan

HOW DO YOU START A PROFITABLE TRADING BUSINESS? Read more NOW >>>

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!

This guy does want to be sucker for day trading or prop shop shenanigans, I just need to make it easier

This guy does want to be sucker for day trading or prop shop shenanigans, I just need to make it easier
This was in response to

Are you a sucker who will lose to some prop shop or day trading desk? Learn how to automate

On 2013-09-27 13:24, MANI KANNAN wrote:
> Hi Good Day Sir Bryan
>
> I have been watching  through your hard work put in to set up
> automate trading…  I don’t  want to be sucker!!!!
>
> But I don’t have programming skillset to start with ,nor time  to
> learn !
>
> I am keen to join the your club!!! No  pro..
>
> But my requirement  is  small time  mum and dad investor , retail
> client with  small working capital and  less time in learning curve.
>
> Out of the box  desktop software, few clicks here and there.
> backtested  algos ,read to deploy, simple.
>
> Like ninjatrader. Ablysis, multichart, API with interactive broker.
>
> If you can get me there ,,,,,,,
>
> I will jump on board…..
>
> Thanking you for your time
>

Thanks for letting me know. I understand your perspective as many people do.

HOW DO YOU START A PROFITABLE TRADING BUSINESS? Read more NOW >>>

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!

Are you a sucker who will lose to some prop shop or day trading desk? Learn how to automate your quant strategies or financial models

Are you a sucker who will lose to some prop shop or day trading desk? Learn how to automate your quant strategies or financial models

This was queued up by a discussion of someone who wants to invest into a ‘prop shop’. This came up with meeting with the local prop shop as described below. It amazes me there are literally fools, idiots, or even suckers who fall for this. One lady lost $40k within a week. Maybe she deserved it because the markets don’t care about your money. Why do you think I am after an automating your trading strategy with what I am building. Wanna be a sucker? Go for it!

Join my FREE newsletter how I plan to automate my trading models for profit

 

I respond with -->
Its a simple setup, well trading rooms are in general, this setup is something I pictured you doing actually?

They can take in 12 traders and sounds like most are green traders, they really provide nothing proprietary, 
just give basic trading education and hold the green guys hand till he gets going.

--> I figured it was this setup so it nothing special. Hey, I could automate each trader with a different strategy that could make them successful.

  xxx.com This is his site that he referenced as not operating on his business card.  They only trade equities at his Prop Trading Room, yet this is forex, they show who they use on this web page.  But to be honest I discussed automated trading with them and they were not really aware of what took place yet his forex website indicates automated trading.

---> I think they live in the 1800s so maybe not a good fit for you

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HOW DO YOU START A PROFITABLE TRADING BUSINESS? Read more NOW >>>

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!

Does Deltix and FinancialLogix make a great Forex combo with potential HFT right for a hedge fund or prop shop?

I just got this from someone who queried me about this:

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I saw this
‘https://quantlabs.net/blog/2013/04/youtube-video-demo-of-introducing-the-ultimate-trading-machine-with-deltix-and-soon-matlab-simulink-for-potential-hft/’

and this
‘http://www.automatedtrader.net/news/Algorithmic%20Trading%20News/137264/-alacrity-fx-selects-financialogix-group-as-technology-partner

And wonder which is best.
CEP has been around via Streambase for a long time too.
A few packages now with FIX adapters.

Personally alacrity-fx are in a space i like.

If you have reviewed financialogix in the past I would be interested to hear it.

So many packages so little time.
Thought it couldnt hurt to ask.

oops my bad, it seems they are both Deltix

i.e.
‘http://www.automatedtrader.net/news/automated-trading-news/74435/p–deltix-and-financialogix-announce-integrated-automated-fx-trading–solutionp’

My response:
Does this now make Deltix and FinancialLogix a great combination to do Forex with potential HFT right out of the box for institutional players? Sounds like it to me.

HOW DO YOU START A PROFITABLE TRADING BUSINESS? Read more NOW >>>

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!

Youtube video on Raising capital oppourtunites for trading, HFT operation, prop shop, or even a hedge fund?

Youtube video on Raising capital oppourtunites for trading, HFT operation, prop shop, or even a hedge fund?

Yes this does get strange. I think I need to open a discussion about this since the launch of this site. Who knows where it will end up but as I always say, thanks to all that support this and what i do. People have been awesome and believe me, I wish I could thank each and every supporter out there!

Get my free newsletter to see where this goes!

 

HOW DO YOU START A PROFITABLE TRADING BUSINESS? Read more NOW >>>

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!

Are quant prop shop trading companies using CentOS, Red Hat, or Ubuntu Linux for production trading systems?

Are quant prop shop trading companies using CentOS, Red Hat, or Ubuntu Linux for production  trading systems?

Here is a profile of a trading firm using Ubuntu server. With the latest release, are many prop shops choosing this Linux version for the reasons listed below. Let me know your thoughts. We find it a toss up between CentOS and Ubuntu for our deployment solutions. My question is which one is more secure?

Chicago-based financial services company chooses Ubuntu and cuts server infrastructure by 70 per cent

Financial services company Equitec was running its mission-critical, proprietary trading software on 100 Windows-based servers. After experiencing a series of performance issues, the company decided to upgrade to Ubuntu 8.04 LTS. Now Equitec can run its entire workload on just 30 Ubuntu-based servers, which equates to a dramatic hardware, space and power saving of 70 per cent for the same performance. Additionally, Equitec has experienced significant reduction in systems management overheads, running its critical common workloads and its trading system with a minimum of fuss, outage or maintenance. The company is seeing a very real reduction in the total cost of ownership (TCO) of its IT infrastructure through switching its servers to Ubuntu.

Business challenge

Financial services companies must ensure that their business-critical processes run without interruption. With real money at stake, completing and recording trade agreements is central to their success. Equitec Group, LLC needs to run its transaction and pricing activities around the clock. The company must be confident that its IT infrastructure can support its day-to-day processes, while running as efficiently as possible.

Equitec found that its existing Windows-based server infrastructure was not delivering the efficiency that the business demanded. Igor Chudov, Senior Software Developer, Equitec, says: “At a certain point, we started to have performance problems with the network that seemed to be Windows-related.”

The company’s IT team was responsible for maintaining and managing 100 servers in all. This was becoming a time-consuming process that needed an IT administrator to perform frequent manual system upgrades.

Chudov says: “We were working hard on cost of ownership and we didn’t want to spend too much time managing and installing each server. Nor did we want to have to keep installing each server from a custom CD. We wanted all those things to manage themselves.”

Chudov decided to introduce new software that could simplify the scripting of server management and installation tasks. He wanted to ensure that all the scripts could be viewed and managed from a central console. Equitec also wanted the new infrastructure to work seamlessly with the proprietary

trading software on which the business runs. It also needed to be compatible with the HP ProLiant machines that the company primarily used, along with the Dell servers on which they ran some functions.

At the same time, the company needed to ensure that its traders could continue to use their familiar Windows desktops. With a tight budget and aims to reduce the TCO of its infrastructure, Equitec decided to use common tools and software so that the improved IT experience did not come at a premium.

The Ubuntu Server solution

Chudov was sure that he wanted to move the servers to a Linux platform, which he’d been working with for years. After evaluating the options, he rejected Red Hat Fedora and decided to introduce Ubuntu. He explains: “I found that the Ubuntu platform was a lot easier to automate.”

The Red Hat Package Manager (RPM) manager process did not make the grade. Chudov says: “There were a lot of circular dependencies. You had to be a genius to figure out what to install first. I didn’t want to mess around with something like that.”

Nearly all of the Equitec servers now run either the long-term support (LTS) version of Ubuntu Server Edition, Ubuntu 8.04, or Ubuntu 8.10. As a result, upgrades and system tweaks are all managed by scripts.

In addition to the Windows-to-Ubuntu upgrade, Equitec has moved its database from Sybase on Windows to the MySQL version that comes with Ubuntu. The database is backed up daily and continually replicated. Each backup involved around 100 megabytes of data.

Equitec completed 90 per cent of the project in just four months. The traders kept their familiar Windows desktop and tools, while half of the company’s software development team runs Ubuntu, and half run Windows.

Results

Ubuntu server infrastructure improves performance

The company’s proprietary software continues to operate as before, but without the network latencies that helped spark the migration in the first place. Now, Ubuntu runs the common workloads – such as email and file and print – that keep Equitec running without interruption.

Centralised infrastructure simplifies management and saves time

With a central console for its server management tasks, Ubuntu eases systems maintenance and ensures that IT administrators can spend more time on business-critical activities.

Chudov says: “When someone wants to set up an extra function, they can do that from a central console.” They can write scripts to run batch-mode functions and can avoid physically transferring data from server to server.

Efficiency boost delivers potential hardware savings of 70 per cent

As Ubuntu requires less processing power than Windows to perform the same tasks, the company has seen a dramatic improvement in the efficiency of its server infrastructure. As a result, it has reduced the number of physical servers it needs to perform its business-critical tasks by 70 per cent.

Chudov says: “We had about 100 servers in use and now 30 are running the workload. We’re trying to find use for the remaining 70. I’m optimistic we’ll find something for them although it’s obviously better to have 30 than 100.”

http://www.ubuntu.com/products/casestudies/equitec-financial-services-chooses-ubuntu-server

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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!

Is this the best way to start up a quant hedge fund or prop shop anywhere?

Is this the best way to start up a quant hedge fund or prop shop anywhere?

A great discussion I came across within a new Hedge Fund group I just joined within Linked In.
ou don’t need any sort of trading history to register as a hedge fund. Pretty much any Joe Blow with money to pay a lawyer can establish a hedge fund. You will most likely need/want the trading history for marketing purposes.
Regarding that, you have a few of options. Probably the easiest would be to go ahead and establish a relationship with a fund administrator when you start trading the private account. Depending on what your fee structure will be when you actually launch the fund, the admin. can/will analyze your monthly trades and calculate your hypothetical net asset value as if you’re already operating as a fund. So, if you’re going to use the standard 2/20 fee structure, the admin. will hypothetically pull out those fees to give you an pretty good idea what your monthly returns will be net of management and incentive fees.
If you want to use the private account’s returns for marketing the fund, you’re going to have to pay for verification or an audit of those returns anyway, so you might as well get in front of the eight-ball and do it from day one. It will probably save you money to pay the admin. monthly, as opposed to paying them to go back in time and verify trades that may be hard to value.
If you’re trading on exchanges and have brokerage accounts (stocks, options, forex, etc.), it shouldn’t be hard to do any-of-the-above. If you’re trading more abstract instruments, I would strongly recommend getting on board with an admin. before you start with the private account. Depending on your assets under management, what you’re trading, and how hard you bargain shop, you’re looking at paying anywhere from $500 – $15,000 per month for new fund administration. As you will see, necessary fees like admin. costs can eat up profits pretty quickly. I hope that helps!
As a proprietary trader, I went through the process of having my prop account audited for a marketing document, but the truth of the matter is, raising seed capital and establishing a track records as a “Fund Manager” is what matters to institutional investors. If I were you I would put your capital into a brokerage account under the funds name and “internally launch” the fund, thus establishing a track record as a fund and paying for the audit monthly through a 3rd party admin firm. This would take place after establishing the domicile and acquiring all legal docs. through the state/country you are domiciled in as well as docs for the sale of fund interest which you will want to hire a lawyer to do, and a business plan written by management, in extreme detail.

Launching an ‘incubator fund’ may be an ideal solution for you guys. In fact, it’s a great way to ‘wean’ into a full-fledged hedge fund, and is a really popular approach these days. The process is simpler, and start-up costs are considerably lower. It gives you the flexibility of time to develop your business plan & final Fund offering docs, and it enables you to build a performance record with your own funds before going live with investors, which you can in-turn provide to potential investors. It is restricted in terms of not allowing you to take on outside investments for compensation during the incubation phase, but it doesn’t sound like this is an issue for you since you’ll be trading out of a private account
Check out www.etops.ch or drop me a mail. We are working with new HFs, set them up plus operate them very efficiently on an outsourced basis. Result is full institutional stability from the outset at very efficient costs.

HOW DO YOU START A PROFITABLE TRADING BUSINESS? Read more NOW >>>

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!