Got it! You mean, go to a prop firm and trade his stuff. Yes, probably the best thing to do. Although he sounds pretty much set on a "private" hedge fund type of environment. nitro
Yeah, Exactly I'm not the greatest trader in the world, I'll trade someone else's picks, I'm not proud.
I had a question about that issue too. How is that enforced? Along similar lines, what if, hypothetically speaking, someone publishes his findings in an academic journal (say, Journal of Financial and Quantitative Analysis, or Journal of Finance), is there any way to still have the results protected? Probably not, I guess... Any precedents? Not that I'm gonna get it published any time soon, but in the future I might, a simplified version of it. thanks for all your feedback.
If you publish, you let the cat out of the bag. A good person for you to talk to is Doyne Farmer at: http://www.predict.com/html/introduction.html I am certain you know about them. As you may be aware, they are academics and have gone the route you are considering. How is it enforced? Well, I didn't want to find out. nitro
Given my limited (read "absent" ) experience as far as direct access is concerned, would you guys recommed TradeStation for a newbie like me? Seems like they still have some "smart routing" capabilities at least for the initial period when I'll be needing those. The underlying language might also come handy if I choose to automate the strategy (although I'm not sure that will be feasibly given the variables I'll have to use...) Thanks in advance. PS If I open an LLC account, I guess I'll be stuck paying the higher professional user fees... Any way I can qualify for a non-professional in my case, using OPM? Thanks again, getting real life advice and help from you guys has been more than a breath of fresh air after having been in the acedemic environment all this time... In this couple of days I have already found a bunch of things I'd never see in textbooks I have a feeling a lot more is coming....
IMO, since SuperSOES implementation smart routing systems lost their significance (not that they were real good anyway). It's just "hit ECN or SS market maker" now, rules became simple like shovel. If you don't want to chose between them for yourself, active ECN (REDI or ARCA) will do all the job for you. It could get a little more complicated on small caps but from what I gather you are not going to trade them anyway. I don't have experience with tradestation, my point is, don't make smart routing's presence or lack an issue to impact your choice. Vad
take a look at my site and you will find a link to a simulator you can try in realtime. This is the best way to test the software with a real world situation and no risk. Try the different packages from the various providers and see what you get from each one. There are a great deal of offers out there and each one is catered to the trader's needs. I think that don and those guys have a great platform and I think TS is a wonderful tool but I also know that realtick is preferred by some and then again others like something else. Find your niche and develop a good resource base. Trade till you drop and the get up and do it again. For the next 4 weeks trade in different simulator and compare and then in may post your analysis.