Starting Black Box co.

Discussion in 'Professional Trading' started by GoinBig, Nov 16, 2011.

  1. are you able to automate your strategy yourself? if so, you should run it using your own money. in an economy like this, why bother giving your skills to some bank when you could be building your personal wealth? and if your box is actually profitable, they will be coming after you instead of you searching for them :)
     
    #11     Nov 21, 2011

  2. Agreed.. Why do you need to worry about another job if your system works. Shouldn't you be implementing it all along with your own money and making you rich?

    There are so many people here talking about their own trading systems and trying to sell them to others. I don't get it. If it was so good, why do you even need to sell it?
     
    #12     Nov 23, 2011
  3. newwurldmn

    newwurldmn

    Selling your system as a stand alone product (as opposed to a reason to hire you) will be difficult. Banks won't want to buy a system from some schlub. The same goes for hedge funds and prop shops.

    1. They know that the developer is more valuable than the system.
    2. Like you, they think they are better at building systems than the next guy.

    If your system is good and you have auditable track record you might be able to sell yourself for a job running it at a good prop shop or a hedge fund.

    Remember, however, given the state of affairs on Wall Street, an outsider has a tougher time than ever getting a job there.
     
    #13     Nov 23, 2011
  4. GoinBig

    GoinBig

    Nevermind, I will be taking the product slow but steady to the market; and ofcourse I won't mind another job if it is good enough.
     
    #14     Nov 23, 2011
  5. OK...let's see....


    You're going to leave a high-paying consulting job to start a high-risk startup with an unproven trading system....Good luck with that....
     
    #15     Nov 23, 2011
  6. newwurldmn

    newwurldmn

    Don't forget "a high risk startup" over-saturated, unpredictable, highly releationship driven and volatile business.
     
    #16     Nov 23, 2011
  7. this should be a canned response on this forum
     
    #17     Nov 23, 2011
  8. It's not hard getting in to talk to people. Everybody is looking for the next payout. Firms are not hard to find - if you have a decent 30 second phone pitch, they'll bring you in for a chat.

    Google will reveal more small/medium sized firms to talk to than you will have time to meet. Here's a dozen in one article about, of all things, ping pong....

    http://dealbreaker.com/2011/05/hedge-fund-verition-group-smokes-the-ping-pong-competition/

    You're going to have to go into salesman mode, no way around it. Relationships matter - start building some.
     
    #18     Nov 23, 2011
  9. GRECHA

    GRECHA

    Nice article re:ping pong. If that's the kind of work ethic traders are up against, i've got work to do.
     
    #19     Nov 23, 2011
  10. Hi OP.

    Give a read to the article beginning on page 53 of the latest Bloomberg/Businessweek.

    I remember the first presentation the subject of the article did at a TradersExpo long long a ago.
     
    #20     Nov 23, 2011