International markets traders banter

[Trembling Hand]

Wow, a pile of sellers just got absorbed and then the price rocketed up thru the HOD...nice.

CanOz

I'd been trying to play that move all friggin day. CUT TO BITS!! By the time it happened I've only got back half my days losses.

Here is what my transport will be looking like now,

 

[CanOz]

LOL! Nice wheels...

Been watching the HSI most of the morning while puttering away...Took a few trades on the sim and got chopped up as well. Messy old trend...

CanOz

 

[ThingyMajiggy]

Executing through NT on sim I managed to get short at 21428 lol.....now that's skill, seeing as we didn't even trade down there! so that kinda ruined my day.

Anyone else with IB and got a frozen Eurex feed? Dax/Bund etc. haven't moved for half hour for me

 

[captain black]

Anyone else with IB and got a frozen Eurex feed? Dax/Bund etc. haven't moved for half hour for me

Yeh, same here Sam.

 

[captain black]

..and we're away again

 

[havaiana]

Bonds not moving in correlation to the rest of the market last night, interesting to see how that plays out today

 

[boofis]

US bonds smashed me last night, that bounce on the announcement was ridiculous

 

[CanOz]

Yeh, same here Sam.

I switched to kinetick for Eurex...so far so good.


CanOz

 

[CanOz]

US bonds smashed me last night, that bounce on the announcement was ridiculous

Lol, did you get goggled by google?

 

[ThingyMajiggy]

I switched to kinetick for Eurex...so far so good.


CanOz

Just for Eurex? Will check it out.

It came back online not long after that so wasn't too bad, still crap but least it didn't die for hours like it can sometimes, managed to make back all I had lost from my spastic Asian session, love the dax :blover:

 

[CanOz]

Yup, ten deep on the DOM too.

Esignal has no depth at all. IB. Has too many in between the bid and ask.

CanOz

 

[havaiana]

sounds like he had it tough...

The $665 million man: 41-year-old 'Wizard of Oz' returning to Sydney with a fortune

"He demanded that a cup of coffee be delivered to his desk at the same time every day, even if he wasn't in."

"...his wrath towards cleaners who moved the carefully arranged mini-bottles of vodka on his desk"


http://www.theage.com.au/business/t...h-a-fortune-20121019-27uz8.html#ixzz29hWVHakH

 

[havaiana]

Nice options attack...

Mystery trades hit ANZ, CBA stocks

http://www.canberratimes.com.au/business/mystery-trades-hit-anz-cba-stocks-20121018-27ssj.html

 

[Gringotts Bank]

sounds like he had it tough...

The $665 million man: 41-year-old 'Wizard of Oz' returning to Sydney with a fortune

"He demanded that a cup of coffee be delivered to his desk at the same time every day, even if he wasn't in."

"...his wrath towards cleaners who moved the carefully arranged mini-bottles of vodka on his desk"


http://www.theage.com.au/business/t...h-a-fortune-20121019-27uz8.html#ixzz29hWVHakH

Interesting article thanks.

He had two good years (50+%), the rest were poor or mediocre.

And at 41 he retires with $665mill?

Someone got screwed.... and I guess it's the investors. Do these guys just take whatever cream they like off the top?

"Coffey, whom billionaire founder Louis Moore Bacon called "one of the most impressive traders in the world" when he hired him four years ago, has had mixed performance since joining the New York-based fund. That had fuelled speculation among investors that he might leave".

 

[boofis]

Lol, did you get goggled by google?

I got goggled alright, was waiting for the unemployment claims announcement and then bam I'm on the wrong side of the market haha.

 

[havaiana]

I had a goal this week of keep my average loss to less than 1.5 ticks (1 tick in the 10 year is .005). Looks like i have blown it in one of my last trades for the week with this 3 tick loss! Now i need another loss to fix it

Goal next week, find more trades...

 

[ThingyMajiggy]

Goal next week, find more trades...

Good luck with that. Have you ever tried our curve? Spreading 3s10s? Might be more opportunities is all, or with the bills.

Other than that, TH's analogy is pretty much spot on. Unless you're sitting on the exchange hitting into numbers(like most prop guys do) then it's like watching paint dry, but if you can make it work then go for it

 

[havaiana]

Good luck with that. Have you ever tried our curve? Spreading 3s10s? Might be more opportunities is all, or with the bills.

Other than that, TH's analogy is pretty much spot on. Unless you're sitting on the exchange hitting into numbers(like most prop guys do) then it's like watching paint dry, but if you can make it work then go for it

I tried spreading for a bit on demo, definitely was not one of my strengths. I figure if i need to go down the spreading path it will just be easier to learn a new instrument.

I don't see that much of an advantage being prop in terms of how i can trade (obviously there are other advantages), the speed is a factor, but the treasuries move pretty slow in asia. Transaction costs are not a factor, they were very similar to what i get now with a no min volume retail account. Having never been prop myself or personally know anyone who has, is there something else i'm missing in terms of the actual trading?

If I can squeeze in a few more trades a day would be plenty to make a living on, there has been no volatility this past week either.

 

[ThingyMajiggy]

I tried spreading for a bit on demo, definitely was not one of my strengths. I figure if i need to go down the spreading path it will just be easier to learn a new instrument.

I don't see that much of an advantage being prop in terms of how i can trade (obviously there are other advantages), the speed is a factor, but the treasuries move pretty slow in asia. Transaction costs are not a factor, they were very similar to what i get now with a no min volume retail account. Having never been prop myself or personally know anyone who has, is there something else i'm missing in terms of the actual trading?

If I can squeeze in a few more trades a day would be plenty to make a living on, there has been no volatility this past week either.

Yeah fair enough, I was the same re spreading, just offered it in case you hadn't tried it/thought of it yet, plus that was what a lot of the prop guys were doing, those who traded bonds(most of the floor).

The advantage of prop other than speed/knowledge is size and you're trading their money, if you do well they will up your size significantly and they take the losses, not you personally, where as you willl have to pay expenses to live etc. from your account now, so if you make a mistake it could stuff things up.

The thing is, this is fairly volatile for our bonds, I was told it was not uncommon to see 1.5-3 tick daily ranges before the whole GFC/Europe nonsense and volatility come on the scene.

 

[Trembling Hand]

Having never been prop myself or personally know anyone who has, is there something else i'm missing in terms of the actual trading?

Chances of making money long term are weighed very much in favour of prop. Most traders blow up after drawdown periods makes their position size not viable for a living. That doesn't happen with prop. Your takings (bills living money etc drug habit),tax, drawdowns do not effect position size.

if you have ever traded as long as this old timer you will realise what a MASSIVE advantage prop has over their retail competitors in a zero sum game.