Im all for less educated, less experienced people working orders for ibanks. Sounds like more money to me.
Buy side firms basically just get their trades done through a VWAP algo these days. Nothing fancy, no real trader needed.
like if less institutional money means these fired folks go out and start prop trading their own accounts...then yeah i can see how that might be better for me. but if theres just less money in the market..i dunno
Well put. I'm a relatively small local who has no problem providing a home for the risky money out there and I trade next to a number of others just like me that would say the same. As a professional trader armed with the knowledge to know what to do on a day like last friday, why would I ever want to 'hang it up' on the basis that some bank desk that placed large prop bets can no longer get the leverage to do so?
that is good news for all traders, these houses will do what they are paid to do fill the customers paper and not front running it, and ripoff the customer. just put it in the market. all of these prop desk were just fucking the customer paper and not trading. all of these prop desk were located in the same area as the filling brokers and feeding off of it.