Mark Conway "professional stock Trading" Sentenced to 7 Years in jail

Discussion in 'Professional Trading' started by Nana Trader, Jun 9, 2007.

  1. #11     Jun 12, 2013
  2. While you were in jail, the trading industry has undergone a few changes. The money-making method of yours (making up fake trades, fake trading statement, fake profit) is no longer popular. The new ways of making money are:

    1. Front-running customers' orders very fast, so fast that it is done in a split second, you need a fast computer and good software (they call it algorithsm in the industry) to do it.

    2. Co-location with exchange servers, and see orders before others do, and take actions accordingly. You need to pay the exchanges or be part owners of the exchanges.

    3. Get insider information. This is not a new method, but the evolution of it is new. I am still trying to find out how it is evolving, considering some big insider traders are under scrutiny.

    4. Get into a dark pool, no regulations there, pretty dark in there.

    5. Subpennying. Well, it's a market makers' game. You need to become a market maker to make the easy money.

    Again, welcome back! Good luck. Don't get caught.
     
    #12     Jun 12, 2013
  3. #13     Jun 12, 2013
  4. Eight

    Eight

    OMG, what next?
     
    #14     Jun 12, 2013
  5. jem

    jem

    Welcome back...
    are you allowed to trade.
    will you be making amends.

    Did prison suck?



     
    #15     Jun 12, 2013
  6. wow what a thread.

    Mr CON-way in prison; and now back into trading. Hopefully, Mr CON-way learned some trading lessons about the risks associated to conning. :)

    ... just shows that the guy did not learn his trading lessons when it was cheap to learn these. Now paying jail years as a lesson from not learning to cut losses, to respect risk. Obviously, should he have cut losses, respected risk, he would never have felt the need to start lieing and con-niving.

    So : no short cuts in trading. Better learn the lessons
    in a cheap way. :cool:
     
    #16     Jun 13, 2013
  7. Lol, this thread is funny. Here i am thinking this is recent, its from 07. I doubt this is the same person anyways. But still a good read.
     
    #17     Jun 13, 2013
  8. cmb

    cmb Guest

    #18     Jun 16, 2013
  9. Huskeez

    Huskeez


    Haha i was the same !
     
    #19     Jun 26, 2013
  10. Pipflow

    Pipflow

    Sad that a good trader ruined his life and career. :(
     
    #20     Jun 27, 2013