Prop Shops in Australia

[skyQuake]

Dunno why, but have been thinking about this point recently.

If their edge is purely mathematical or derived from technology, they wouldn't need traders to sit in front of screens, some algo would do it all.

So perhaps their biggest edge comes from pulling liquidity at certain points...knowing when to make a market and when not to. This would be based on the emotions of other traders, the kind of thing a computer cannot predict and adapt to easily.

In their game, the biggest edge is speed. Optiver currently fighting with Tibra over properitary software disputes in the courts... sh*tfest!

 

[Naked shorts]

In their game, the biggest edge is speed. Optiver currently fighting with Tibra over properitary software disputes in the courts... sh*tfest!

Then what is the purpose of having traders sit in front of screens? How is the adaptability and initiative of a human adding value?

 

[Timmy]

Then what is the purpose of having traders sit in front of screens? How is the adaptability and initiative of a human adding value?

You need someone to turn the computer on.

 

[white_goodman]

this is hilarious

 

[Trembling Hand]

this is hilarious

Yeah very good.

 

[skyQuake]

You need someone to turn the computer on.

or someone to turn it off when the marketmaking algos become self aware.

 

[white_goodman]

or someone to turn it off when the marketmaking algos become self aware.

have they been programmed to follow the 3 laws of robotics?

 

[Timmy]

when the marketmaking algos become self aware.

That's when the algos join forums and start bagging out other algos ("Ya' high latency, mean reverting, POS")

ps - love the video thanks White!

 

[white_goodman]

Here's one to add to the list:

http://www.silkroadcapital.com.au/

looks like a dsicretionary firm similar to Propex...

 

[Naked shorts]

Here's one to add to the list:

http://www.silkroadcapital.com.au/

looks like a dsicretionary firm similar to Propex...

Found this
http://twitter.com/silkroadcapital

Wonder if its the same people. They are following Britney Spears

 

[Timmy]

Here is a list of prop firms on a wider scale than just Australia. From 2007, so might be a bit outdated.

List of Proprietary Trading Firms

I have had problems getting that page to load sometimes, here is the Google cached version as well:

http://74.125.153.132/search?q=cach...ading-firms-735.html&cd=1&hl=en&ct=clnk&gl=au

&DYOR

 

[Trembling Hand]

A nice little spiel on the failures of prop traders:

http://www.smbtraining.com/blog/the-failure-rate-of-a-proprietary-trader

 

[white_goodman]

big fan of the smb blog, is there any nws on when Bellas book is out?

 

[MRC & Co]

A nice little spiel on the failures of prop traders:

http://www.smbtraining.com/blog/the-failure-rate-of-a-proprietary-trader

"Prop traders" is a very very broad category.

But can someone pls copy and paste what's on the link onto this thread? It won't work on my computer...........

BTW, who is 'Bella' White?

 

[MRC & Co]

"Prop traders" is a very very broad category.

But can someone pls copy and paste what's on the link onto this thread? It won't work on my computer...........

BTW, who is 'Bella' White?

Ok, got it, thx TH.

 

[white_goodman]

"Prop traders" is a very very broad category.

But can someone pls copy and paste what's on the link onto this thread? It won't work on my computer...........

BTW, who is 'Bella' White?

Hes the MD of SMB im prety sure, hes in the midst of writing a book "way of the prop trader" or something like that

 

[MRC & Co]

Hes the MD of SMB im prety sure, hes in the midst of writing a book "way of the prop trader" or something like that

Bella is a he? Lol, thought that was a chicks name.

Ok, cool, thx.

 

[SMB Capital]

Mike Bellafiore's (Bella) book One Good Trade: Inside the Highly Competitive World of Proprietary Trading will be out this August. Thxs for asking.

 

[MRC & Co]

Mike Bellafiore's (Bella) book One Good Trade: Inside the Highly Competitive World of Proprietary Trading will be out this August. Thxs for asking.

Ah, now I get the name!

A book from an actual trader, should be interesting! Don't see too many of them around, generally they talk about 'triangle breakouts' and 'H&S' etc

I thought the same Largesse, incredible response time!

 

[Largesse]

Mike Bellafiore's (Bella) book One Good Trade: Inside the Highly Competitive World of Proprietary Trading will be out this August. Thxs for asking.

impressive response time