I am looking to set up a prop trading account with a firm in Canada. Have shortlisted a couple of firms already (would rather not share names in this thread as I am sure they monitor these threads) and wanted to get some feedback on the firms I have shortlisted and also to find out about other Canadian prop firms that people have positive experiences with in terms of execution, data providers, ease of pulling capital out when needed. If you are currently trading with a firm in Canada or have traded with one in Canada, please ping me on simplybland@gmail.com Thanks in advance!
I know of a firm near Toronto that has an SPY trading algo, if you want to send me a message I can loop you in with them, might be a great place to begin your search since the SPY is so liquid and widely traded, and the algo is somewhat of a black box strategy. I traded an algo for a programmer that was based out of Markham for the last few years, and I did spend 2 weeks up there last April.
not trying to steal anything, just wondering what is the basic concept behind this algo if it only trades SPY? trending following, scalping, long/short vs basket? ?
No worries Blueraincap. The big picture view of it, and this may be too simplistic, is that once the SPY goes into what the algo considers the standard deviation level to send out its signal, it takes a position essentially fading the trending move, but will/can also take a contra position to offset that. In other words, SPY is going up for instance, it goes short after a certain period(of course the SPY may or may not come back to the mean, whatever goes up sometimes comes down and sometimes does not), but then can/will take a counter long position of a stock with a high relative strength, so they don't offset but allow for a hedge so to speak if needed, if needed because the market is not coming back in. And this can be applied to other markets obviously besides equities. If you need more information I can loop you in with the developer.