Hey man....if my memory serves me correct, the mkt was dead, we were all bored, we were all sick of playing HORSE ,somehow the dating game ended up on the TV and you said "I will take action on which dude she chooses". Its not your fault that the rest of the desk was extremely knowledgeable on handicapping the dating game. From what I remember, we all took some longshot who looked like a troll. He must have been "a nice guy" because she picked him.
People spell it wrong coz phenetically (ok, now i made a spelling boo boo) that's how it sounds... but obviously if you say it it sounds kinda stupid "if you loose (sounds like moose) then you leave..." ya, it sounds kinda off huh?
Ahhh... but that wasn't the only bet. When the Bulls got totally dismantled the instant Jordan retired, you said they'd have the very worst NBA record the following season. My reply was to give you 5-1 (I think) odds on that prediction...which you lost to me.
Prop (Proprietary) Trading usually refers to market activities with the firms (Brokerage Firm, Investment Bank, Bank or Trading Firm) own money that aims to make money but does not support other activities of the firm such as market making and VWAP activities, or relies on mathematical or systematic stuff such as arbitrage or statistical arbitrage. Normally this means that Prop Trading can be a very diverse array of activities, but it usually involves speculative positions on the direction of the market, both short and long term. Then we have Arcades: firms that invite people to come and share their infrastructure and access to financing but you have to trade your own money. Some arcades then take a cut of your profits, charge you fees for the infrastructure as well as clearing and brokerage. Many Arcades add to that financial backing: they put up money for you to trade with and take an even larger share of your profits and share your losses. Some Arcades are independent businesses and some are set up by clearing and brokerage firms Many Arcades are rather depressing outfits with less then state of the art set ups in terms of technology and infrastructure. But there are exceptions. My advice would be: if you are young (in your 20s) get the right education and apply to a trading firm or investment bank. There you get to learn how the pros do it and your upside potential is much bigger, plus you get paid and get a business card. if your are old (in your 40s) find a really good arcade that work on fees only principle at a brokerage firm (Etrade runs them for example) and trade away. if you need more money, find an investor.
A business card is definately the reason to go with a particular firm! Your post is like a term paper with research from an encyclopedia bro.
Well I was merely using the concept of a business card as proxy for the idea of a real career in a business.
Dantes made many valid points in his informative post. Ebo, have you <b>ever</b> posted anything remotely useful or interesting on these boards? As far as I've seen, you're nothing but a pure troll, here to perform the sole function of degenerating ET's signal to noise ratio.
Rear End: I admit I have been a bit sarcastic in some of my posts, who the fuck are you to judge the quality of one's editorial content? yours truly