Tag Archives: recommendations

Recommendations for Matlab vs open source Octave Scilab and the student edition

Recommendations for Matlab vs open source Octave Scilab and the student edition

From a commenter

i,
1. Do you recommend $99 student version or is it too crippled for any useful work?

–> Yes you are crippled as your datasets cannot be bigger than a few hundred
2. Do you recommend Octave / Scilab as a replacement?

–> For basic non toolbox Matlab stuff, it is possible but I am using lots Matlab toolboxes which Octave and Scilab are not compatible with
3. Do you know by any chance, if free trial of Matlab and all the toolboxes will do the job, though for a week or so?
–> I understand they give away 3 month trials
Thanks in advance

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What to do recent PHD grads to get a decent quant front desk job in a bank? Here are my recommendations

What to do recent PHD grads to get a decent quant front desk job in a bank? Here are my recommendations

I just did my local Meetup last nite. A large percent were PHDs and about one third were looking for work. You would think there is little opportunity for these folks in terms of banking. It seems it could be very competitive for entry level jobs or non interesting work. It seems the only positions filling up are Risk Management or Model Vetting. Many seem not interested to be on these teams. I don’t blame them but they definitely want to be in Research or Front Office activity. I am sure these teams hiring have pick of the litter looking for people with CFAs and grads of Ivey League level schools. I am sure grades will matter too. So does this mean PHDs don’t have opportunity?

Other s comment about how the banks hire only subpar grads who cannot deliver what is expected. I really cannot comment on this one due to the fact I am not in these environments. I choose not to be as these 500 page laundry lists of key skill sets are impossible to find. Or they want you perform brain surgery on last minute notice to perform a 650% return within a 5 minute notice. It seems the expectations from hiring managers might be what we call: slightly too high.

Anyhooo…what does a PHD do? Get your entrepreneurial hat and start learning. After my recent trip to London, it seems many banks are following the Google lead of looking for ‘quant’s that are literally brands within themselves. I am definitely not one of them but have some recommendations on what to do:

  1. Learn as many popular math algorithm techniques taught in academia. Understood and live and breathe these. I am starting this process in my Membership for  Premium Members
  2. Do development and get good. For analytics/prototyping, use R and/or Matlab. No questions on that.  Matlab is used more in industry. Also, stick with the popular languages like C++, Java, or C#. If you had to pick one, no doubt C++ is what is going to get you the highest paying and keep you in demand. Also, it is  a tough language to master but it is definitely a guaranteed career path for you in the banking field with a PHD. Do ignore the usual flaming wars that go on in the programming field. As said, if you need to focus on one, C++ is the definitely the way. To get an edge, know Java too.
  3. The Windows and Linux is always important. If you want edge, learn Linux/Unix shell scripting. It will allow you to become first choice in the pack of applications. Things like PERL come to mind here especially on the technology infrastructure side.  NOSQL and databases help but I would definitely not put that as a priority to already a long list of stuff.
  4. Excel is definitely worth knowing. It helps to know VBA but it is considered you can learn on the job but it may help
  5. What about those extra credential s like CQF, CHRP, etc? Uh…probably just cash grab for the organizers. Serious hiring managers don’t really put a lot of attention on those so why rack up extra debt for marginal return? If you want to go into management, do CFA no questions asked.
  6. So now you know? Get noticed to build your brand. Do it through Blogging or organizing events or do presentations. Those sorts of things look real nice on your resume.

 

Remember these tips are for beginners who are struggling to get a career. Remember, you are up against highly experienced developers, traders, analysts, etc who are most likely applying for the same job you are. Banks and hiring managers owe you nothing unfortunately but in this crappy job market, these are the sort of things you need to do. It sucks I know, but you got to do what you got to do.

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Any Recommendations on Cost Effective Data Feeds & Best Broker API for quant development?

Any Recommendations on Cost Effective Data Feeds & Best Broker API for quant development?

 

Does anyone have any recommendations on cost-effective data feeds? I am working on automated trading strategy that requires pricing updates 3 times a day for stocks, options and a few indices (rates & equities).
Additionally, which broker has the best API. Right now I’m strongly leaning toward Interactive Brokers but welcome any recommendations.
==I would recommend IB too. Their API can be programmed in a fair few languages, execution cost is one of the best.

 

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Societe Generale EUR/USD Forex Trading Recommendations

Societe Generale EUR/USD Forex Trading Recommendations
Forex – Societe Generale EUR/USD Trading Recommendations forex-quebec.comStrategists at Societe Generale advise to go short on the EUR/USD, entering the trade at 1.3100 with a stop at 1.3250 and a target of 1.2600.
–Recent reports suggests that the Euro Rises Against Dollar, But Remains Vulnerable: http://t.co/ukZu0YqT–EUR / USD closed at 1.3075 Friday. We have a potential Head & Shoulders bearish reversal formation on the daily chart with around 1.30 being the neckline and the head at 1.3484 with the right shoulder at 1.3211. Therefore, I recommend shorting the pair once it is below 1.30 with a stop loss at 1.3217 and a conservative 1st target of roughly 150 pips lower or 1.2850. Of course, the ultimate target would be a re-test of the recent lows around 1.26. Good luck all .
–Agree with bearish view but lacks momentum.
–I am already short and 100 pips plus. I will let the profits run until the revers.If you want to know how I maximase my profits using multiple orders just give me a message.

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Quant Book recommendations?

Quant Book recommendations?

I’d be very interested to hear from others in this group about any books that they would recommend, or avoid, on the subject of developing trading systems.

I am currently reading Stridsman’s “Trading Systems that Work: Building and Evaluating Effective Trading Systems” (McGraw-Hill, 2000). I have one or two other books on the subject by the likes of Perry Kaufman and J Welles Wilder – but I’m always interested on any more recent writing on the subject.

=====

I would widely recommend AVAfx’s own “Forex Strategies”, which features professional, life-tested rules of thumb to trading forex, indexes and commodities. You can get the book for free when at http://www.avafx.com/Ebook/

—–

On that note… any good books that are in digital form? So I can download it to my iPad, PC,. or eBook reader?

I’ve been able to build up a good portfolio of my programming texts and pdf manuals, but wanted to add some ‘light reading’ 🙂 Looking to replace my outdated books like Handbook of Fixed Income Securities …

—–

《Beyond Technical Analysis: How to Develop and Implement a Winning Trading System》 (Wiley Finance)

 

—–Thanks for the recommendation. Chande’s book does look quite interesting.

Still waiting for AVA fx to e-mail me their book

—-

 

I’d have to recommend “Trade your way to financial freedom” by Van K. Tharp. He adresses the various building blocks of a sound strategy. I think I have read it atleast three times.

=====

I’d agree – Tharp’s book is definitiely worth reading.

8

 

thanks for the book suggestion. Can I use the concepts in this book with any forex software? Are you using the strategies outlined in the book?

 

 

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Any recommendations on trade execution from MatLab, if any?

Any recommendations on trade execution from MatLab, if any?

I’d be interested in that too.

Also live datafeeds feeds for Matlab.

bloomberg API maybe?

Not released, yet, but might be of interest:
http://www.tadeveloper.com/

Just a heads up. MATLAB has difficulty handling any form of realtime data. It can hang up quite often and is not designed to react in any consistent, performant, realtime way. Don’t make the mistake of trying to turn MATLAB into a high speed algo trading system.

That being said I can still see a use for trade execution based on analysis in MATLAB. MATLAB has an outstanding array of tools for financial analysis and the ability to go direct to an execution would be very handy. Just don’t expect it to be super fast.

Great Idea, I was thinking about it myself, as matlab is the best tool for Algo R&D.
One of my students demonstrated a prototype based on matlab and Interactive Brokers api. The Idea is to use IB COM api, that fires events as TR data comes and matlab function gets executed. On that function you can put any execution logic. But this is just prototype.

I am using CQG with their MATLAB API – http://www.cqg.com/Support/FAQ/CQG-API-MATLAB-FAQ.aspx this allows trade execution to the exchange. Currently forward testing a system that trades ICE Brent with this solution, CQG provides a simulation account. I have been very happy with the results and our system goes live in June, will then get an idea of how the live environment differs from the simulation environment so I cannot comment on that aspect just yet. The system we are going live with is medium frequency and its just at the boundary of what MATLAB can handle. The support from CQG has been good and they provide code samples to get you started.

I bought an OS-neutral program from Max Dama (see MaxDama.com). It connects to IB’s API.
email me or Max if you would like

I’ve been using Quant2IB for several years now. I trade both long term and intra day and its been very good. http://www.exchangeapi.com/index.htm.

An alternate method is TWS-Link available at http://trade-commander.com/
This connects IB to numerous platforms including Matlab.

 

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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!

Any recommendations on trade execution from MatLab, if any?

Any recommendations on trade execution from MatLab, if any?

I’d be interested in that too.

Also live datafeeds feeds for Matlab.

bloomberg API maybe?

Not released, yet, but might be of interest:
http://www.tadeveloper.com/

 

Just a heads up. MATLAB has difficulty handling any form of realtime data. It can hang up quite often and is not designed to react in any consistent, performant, realtime way. Don’t make the mistake of trying to turn MATLAB into a high speed algo trading system.

That being said I can still see a use for trade execution based on analysis in MATLAB. MATLAB has an outstanding array of tools for financial analysis and the ability to go direct to an execution would be very handy. Just don’t expect it to be super fast.

Great Idea, I was thinking about it myself, as matlab is the best tool for Algo R&D.
One of my students demonstrated a prototype based on matlab and Interactive Brokers api. The Idea is to use IB COM api, that fires events as TR data comes and matlab function gets executed. On that function you can put any execution logic. But this is just prototype

I am using CQG with their MATLAB API –http://www.cqg.com/Support/FAQ/CQG-API-MATLAB-FAQ.aspx this allows trade execution to the exchange. Currently forward testing a system that trades ICE Brent with this solution, CQG provides a simulation account. I have been very happy with the results and our system goes live in June, will then get an idea of how the live environment differs from the simulation environment so I cannot comment on that aspect just yet. The system we are going live with is medium frequency and its just at the boundary of what MATLAB can handle. The support from CQG has been good and they provide code samples to get you started

 

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!