Excellent post. Probably one of the smartest things I've ever read on this site. No wonder it's over most people's heads. While I agree with most of your position, regarding automated statistical trading, particularly in shorter time frames, you show complete ignorance and even stupidity in your first paragraph. First of all, prop shops do not show disdain toward automated systems, in fact most of them prefer them because of greater revenues and easier risk control. This statement shows ignorance on your part. You may have a tiny weeny little point because there is no shop that actually fully caters to automated traders except maybe Schonfeld or Genesis which do it only to a certain degree. Second of all, until some amazing AI is created, no computer program will ever beat a human trader on news trading or any trading action that is driven by emotions rather than numbers. In fact, computers get killed on news because they are random, out of the ordinary events. This statement shows your stupidity and hints that you do not have much experience and suggests that your are fluff with no real substance. Fear and Greed make markets innefficient and create trading opportunities. If you eliminate that, you eliminate the opportunities.
Automated stock market? We're still a long ways away if we ever get there. Neural networks are interesting, but the results are hardly intelligent at this point. Even if a computer is to make tremendously good trades, it must also do so without being redundant in it's thinking. Once a pattern is formed, other traders will capitalize on it. It's like Elliot Wave theory, at least to me: Does it really exist, or do so many traders beleive it exists that it actually forms in the market? One could make the arguement that Elliot Wave exists mainly in markets heavy in technical traders. I'm so confused I don't even know what my point is anymore! Maybe that to have computers exclusively, they would would have to do so without forming any technical patterns. True AI would be needed, that bases it's decisions on all available fundamental data.
Hello, I am also considering Caliber Financial. Could you please give me more information on their fees and commissions? How are they different from Hold brothers? Caliber Financial told me that they would take of 20% of my profits where Hold Brothers would only take 1%. Why there is such a big difference. I would appreciate any input and feedback. Thank you. Best regards.
Hello, I am also considering Caliber Financial. Could you please give me more information on their fees and commissions? How are they different from Hold brothers? Caliber Financial told me that they would take of 20% of my profits where Hold Brothers would only take 1%. Why there is such a big difference. I would appreciate any input and feedback. Thank you. Best regards.
Trade Vision Capital www.tradevisioncapital.com It's kinda like Bear Capital as well, just figured you could add that to the list.
They probably do a per-ticket commission schedule? You pay very little in commissions, but they take a % of your profits. If you still pay high commissions, then they better be something special, like amazing training, mentoring, all the bells and whistles. EDIT: looked on their website, looks like they do just that. So there is your answer. Don't know specifics on commissions though.
Thank you for your reply. I will probably go ahead with them. I am a recent graduate in Finance. I have never traded but I would like to pursue this career path for now...
Just start slow, starting with equities is wise IMO. Trade 100 shares and make sure they will allow you to trade a way you want to. Not doing "rebate trading" or any of that other crap. Make sure they train you well and can ask the mentor question and use that to your advantage. Not many people get the opprotunity to sit by a mentor, so if you do, take advantage of it 110% and ask questions about risk management, and how to determine good trades from bad trades and all that, squeeze him good for all the info you can. Wish I could afford to go to a really nice college and join a firm like that