Trading Environment

[julius]

I now know that inconsistency is a signal that your not trading to "your" niche.

TH would you be able to expand on this ?

 

[mickson]

Sounds like mickson is more after a trading arcade, as he owns his own prop firm already.

I have managed to make contact with 2 operations that seem to offer what I am looking for. The term trading arcade is a new term to me, but I understand what it represents, do you have a few names for me in the Sydney region. If I am exploring opportunities I might as well cover as many as possible.

Thanks

 

[MRC & Co]

Hi Mickson,

Unfortunately, the only one I have read about is the one mentioned (however, its not a trading arcade).

I know a couple of day-traders in Sydney, but none work out of a trading arcade, only from home.

TH may know more.

 

[mickson]

Sounds like mickson is more after a trading arcade, as he owns his own prop firm already.

I have managed to make contact with 2 operations that seem to offer what I am looking for. The term trading arcade is a new term to me, but I understand what it represents, do you have a few names for me in the Sydney region? If I am exploring opportunities I might as well cover as many as possible.

Thanks

 

[mickson]

Oops

 

[Joe Blow]

Oops

Hi Mickson,

I have removed the unnecessary

tags from your two previous posts. Please note that for 20 minutes after you have submitted a post you are able to edit it to make any corrections. Simply click on the 'Edit' button which you will find located next to the 'Quote' button. Although it disappears after 20 minutes so be quick it you need to make any alterations to your posts.

 

[Trembling Hand]

TH would you be able to expand on this ?

Have started a thread about this here,

https://www.aussiestockforums.com/forums/showthread.php?p=275640&posted=1#post275640

 

[Trembling Hand]

Here is another one I just remembered. Mostly options market making but I think also some prop set up as well. In Sydney of course

http://www.tibra.com.au/home_tt.html

 

[mickson]

Thanks Mate!

By the way my close family live in Melbourne; my wife, kids and I went to spend the easter weekend there. Cool place.

 

[whitey1982]

anyone had more than a couple of weeks time at propex?

i've had a couple of mates that have worked there for about a year or so, but moved on pretty quickly. given 10k initial capital and a weekly allowance that doesn't really suffice.

pretty difficult putting on trades that 'have' to be winners to pay the mortgage. they both now work with me in a dealing room at an ib, and words to the effect of 'chop shop' were used to describe propex. sounds like a good gig initially, but wondering if anyone as any thoughts on them?

 

[whitey1982]

try the other option market makers as well. they have cash desks too which prop. obviously market making is the core business, but a couple of them definitely emplore cash strategies on top of traditional market making.

optiver, imc, suquehanna, timberhill, liquid capital.

 

[Trembling Hand]

i've had a couple of mates that have worked there for about a year or so, but moved on pretty quickly. given 10k initial capital and a weekly allowance that doesn't really suffice.

Really. That doesn't sound like the propex that I know. When was it and what were they trading(markets).

Is the IB trading room a trade execution desk or a prop trading desk with profit split?

 

[whitey1982]

yeh, just broking mate. tedious at times and real quiet atm, but what can u do. spend half my time punting the markets myself on the mobile.

so, going from a trading gig to broking is an interesting move, but they've told me they're pretty glad they did. i guess more stability at an ib, but i'm not too sure.

they were trading spi and hang seng.

 

[whitey1982]

would have been roughly two years ago

 

[Trembling Hand]

would have been roughly two years ago

That's around the time I was sniffing around there. But no one was trading HSI after getting stitched up with some dodgy results on a sim that showed slow fills. they looked profitable then when they went live they got all messed up. But they had gone by then.

I couple of guys here are looking at having a stint there soon so they will no doubt be able to shed some light on things.

Tells us won't you when your desk sets a new all time low volume from clients. No doubt that will be the bottom when everyone has given up!!

 

[MRC & Co]

yeh, just broking mate.

Broking or trade execution? Aren't they completely different?

Brokers are the glorified salesmen and execution the guys who actually execute buys and sells, generally on predefined parameters?

I have looked into both (actually came close to taking an overnight futures trading position, but from what I could make out, was really just execution), stockbroking, not sure about the salesman type of things. Managed funds would be a lot more interesting, especially where you can also short (also nearly got a job in a company which does this, but didn't have my RG146 complete which was apparently a requirement).

Have also talked to Propex and am waiting for them to get back in contact, they said it will be within the next few weeks, but better hurry, have a couple of other nice names offering me jobs which will look good on the resume.

 

[whitey1982]

no, execution/broking - same thing. well, in the environment i work anyway.

managed funds - tough to get into and a long path. most come from an analyst background. you'd want ur honours/masters at a minimum and be looking at doing ur cfa too.

 

[MRC & Co]

no, execution/broking - same thing. well, in the environment i work anyway.

managed funds - tough to get into and a long path. most come from an analyst background. you'd want ur honours/masters at a minimum and be looking at doing ur cfa too.

Yeh, I know brokers do a bit of execution, but there are also trading desks, which simply execute from what I am aware (usually derivatives)..........

Managed funds, yeh, DAMN hard to get into, though I do have a pretty good contarct in the field, but I haven't heard masters or further qualifications above honours are overly important. At least with companies such as AMP, QIC etc and these guys are huge in the managed funds industry!

 

[MRC & Co]

try the other option market makers as well. they have cash desks too which prop. obviously market making is the core business, but a couple of them definitely emplore cash strategies on top of traditional market making.

optiver, imc, suquehanna, timberhill, liquid capital.

The vast majority of prop is quant though these days, right? Other than the MMs.......

Except those dodgy places which call themselves prop, but make you bring some of your own cash to the table!

 

[Nick Radge]

Fusion derivatives is another one. Most of the old Propex boys went across to Fusion awhile ago. I play golf with a number of them and they're all very happy with it. I also know the guys that run Fusion so if you want a name and contact just PM me.

Nick