Proprietary Trading
Discussion
Flipfloptrader said:
La Liga said:
I'd make sure off the bat that your expectations are realistic as to just how hard it is.
This webinar by someone who is quite active socially is worth a watch: https://www.youtube.com/watch?v=NDkE6RHke9U
What do you trade La Liga? What would you change if you could?This webinar by someone who is quite active socially is worth a watch: https://www.youtube.com/watch?v=NDkE6RHke9U
What would I change? Not much. Every trader needs failure to succeed.
Flipfloptrader said:
Does anyone have any strong recommendations? I don't trade huge volume, on average anywhere from 1 mio to 2 mio a day at present.
IG.I also keep my account funded around the FSCS threshold with the rest in the bank in case.
Flipfloptrader said:
Not one aspect of my trading is gambling, but thanks for the info. I also do not trade stocks or use any 'software'.
I'm more than happy carving my own path like I am.
Can I ask what you mean by that? If it's not gambling then it's arbitrage, and every set of trades makes you a profit.I'm more than happy carving my own path like I am.
Edited by Flipfloptrader on Monday 5th June 06:32
If any set of trades makes a loss, then it's gambling.
As with others above, I trade for a living, and have done so for a lot of years now. I have the house's edge on my side, but still am exposed to risk, so still, to some extent, understand that what I do can be described as gambling.
Gambling carries a negative connotation. When people use the word they often mean it in a negative way, so it's an understandable inteptrataion.
To be accurate, a professional gambler and the professional trader have the same things in common, as do the amateur gambler and amateur trader.
To be accurate, a professional gambler and the professional trader have the same things in common, as do the amateur gambler and amateur trader.
James_B said:
Can I ask what you mean by that? If it's not gambling then it's arbitrage, and every set of trades makes you a profit.
If any set of trades makes a loss, then it's gambling.
As with others above, I trade for a living, and have done so for a lot of years now. I have the house's edge on my side, but still am exposed to risk, so still, to some extent, understand that what I do can be described as gambling.
Exactly what La Liga says. The poster who said what he'd seen looked more like gambling than trading to my mind was applying no skill was being involved.If any set of trades makes a loss, then it's gambling.
As with others above, I trade for a living, and have done so for a lot of years now. I have the house's edge on my side, but still am exposed to risk, so still, to some extent, understand that what I do can be described as gambling.
It's been a tough last 3 weeks with 9 days spent in hospital with a burst appendix and a follow on infection and then I've spent the last week at home slowly getting back up to speed. Amazing how tired I get at the moment but had a solid day in front of the screen today and looking forward to cracking on with the 2nd half of the year.
Trading wise, the markets seem in a bit of a summer lull at present with most pairs I watch struggling for volatility and it's definitely been a case of being patient and picking the right spots to enter.
Trading wise, the markets seem in a bit of a summer lull at present with most pairs I watch struggling for volatility and it's definitely been a case of being patient and picking the right spots to enter.
Finally got round to building a new PC for my trading:
Case:Corsair Carbide 270R Windowed Black Mid Tower
Motherboard:Intel H270 Chipset mATX
CPU:Intel Kaby Lake i7 7700 4-Core 4.2GHz
CPU Cooler:120mm Tower Air Cooler
RAM:16GB DDR4 Black
Primary Storage Device:512G SATA3 SSD Pro Edition
Graphics Card:Nvidia GTX 1050 TI 4GB OC
Network:WiFi Dual Band N PCI-E Adapter
Power Supply:500w ATX 80 Plus Gold
Operating System:Windows 10 64bit Home Edition USB
Should speed things up a touch.
Case:Corsair Carbide 270R Windowed Black Mid Tower
Motherboard:Intel H270 Chipset mATX
CPU:Intel Kaby Lake i7 7700 4-Core 4.2GHz
CPU Cooler:120mm Tower Air Cooler
RAM:16GB DDR4 Black
Primary Storage Device:512G SATA3 SSD Pro Edition
Graphics Card:Nvidia GTX 1050 TI 4GB OC
Network:WiFi Dual Band N PCI-E Adapter
Power Supply:500w ATX 80 Plus Gold
Operating System:Windows 10 64bit Home Edition USB
Should speed things up a touch.
Just playing devils advocate but I've never appreciated how the speed of a domestic PC has any influence on the speed of the order routing down the pipe to the clearer or the speed of the clearer's pipe to the exchange?
If a particular style of trading requires extremely high speed pricing and order routing then you need to focus on dedicate lines to the clearer and to chose a clearer who is next to the exchange? And if the trading style isn't that sensitive then a standard PC is sufficient. Also, if the PC is being bogged down with trading programs then you need to split these among separate PCs rather than beef up the PC as at times of high activity you mustn't have trading software slowing execution software etc.
If a particular style of trading requires extremely high speed pricing and order routing then you need to focus on dedicate lines to the clearer and to chose a clearer who is next to the exchange? And if the trading style isn't that sensitive then a standard PC is sufficient. Also, if the PC is being bogged down with trading programs then you need to split these among separate PCs rather than beef up the PC as at times of high activity you mustn't have trading software slowing execution software etc.
DonkeyApple said:
Just playing devils advocate but I've never appreciated how the speed of a domestic PC has any influence on the speed of the order routing down the pipe to the clearer or the speed of the clearer's pipe to the exchange?
If a particular style of trading requires extremely high speed pricing and order routing then you need to focus on dedicate lines to the clearer and to chose a clearer who is next to the exchange? And if the trading style isn't that sensitive then a standard PC is sufficient. Also, if the PC is being bogged down with trading programs then you need to split these among separate PCs rather than beef up the PC as at times of high activity you mustn't have trading software slowing execution software etc.
Nothing related to needing high speed pricing, just the case of wanting a new PC with a reasonable spec. I'd like it load quickly (which it will) and be able to do some light GoPro editing and general trading stuff.If a particular style of trading requires extremely high speed pricing and order routing then you need to focus on dedicate lines to the clearer and to chose a clearer who is next to the exchange? And if the trading style isn't that sensitive then a standard PC is sufficient. Also, if the PC is being bogged down with trading programs then you need to split these among separate PCs rather than beef up the PC as at times of high activity you mustn't have trading software slowing execution software etc.
DonkeyApple said:
Just playing devils advocate but I've never appreciated how the speed of a domestic PC has any influence on the speed of the order routing down the pipe to the clearer or the speed of the clearer's pipe to the exchange?
If a particular style of trading requires extremely high speed pricing and order routing then you need to focus on dedicate lines to the clearer and to chose a clearer who is next to the exchange? And if the trading style isn't that sensitive then a standard PC is sufficient. Also, if the PC is being bogged down with trading programs then you need to split these among separate PCs rather than beef up the PC as at times of high activity you mustn't have trading software slowing execution software etc.
Sounds like a great excuse to buy a second PC, OPer. If a particular style of trading requires extremely high speed pricing and order routing then you need to focus on dedicate lines to the clearer and to chose a clearer who is next to the exchange? And if the trading style isn't that sensitive then a standard PC is sufficient. Also, if the PC is being bogged down with trading programs then you need to split these among separate PCs rather than beef up the PC as at times of high activity you mustn't have trading software slowing execution software etc.
My year wraps up next Friday as we're off on a 4 week trip back to the UK. Looking forward to the time off as I'm mentally pretty tired, trading intraday for up to 8-9 hours isn't all that simple.
I look back to when I left full time employment at the start of February and can't believe the year it's been. Onwards and upwards!
I look back to when I left full time employment at the start of February and can't believe the year it's been. Onwards and upwards!
Flipfloptrader said:
Finally got round to building a new PC for my trading:
Case:Corsair Carbide 270R Windowed Black Mid Tower
Motherboard:Intel H270 Chipset mATX
CPU:Intel Kaby Lake i7 7700 4-Core 4.2GHz
CPU Cooler:120mm Tower Air Cooler
RAM:16GB DDR4 Black
Primary Storage Device:512G SATA3 SSD Pro Edition
Graphics Card:Nvidia GTX 1050 TI 4GB OC
Network:WiFi Dual Band N PCI-E Adapter
Power Supply:500w ATX 80 Plus Gold
Operating System:Windows 10 64bit Home Edition USB
Should speed things up a touch.
Ended up with a H270 mobo with an i7 7700, 2444 16GB RAM, 512GB Samsung Evo 960 SSD and an EVGA 1050Ti GPU.Case:Corsair Carbide 270R Windowed Black Mid Tower
Motherboard:Intel H270 Chipset mATX
CPU:Intel Kaby Lake i7 7700 4-Core 4.2GHz
CPU Cooler:120mm Tower Air Cooler
RAM:16GB DDR4 Black
Primary Storage Device:512G SATA3 SSD Pro Edition
Graphics Card:Nvidia GTX 1050 TI 4GB OC
Network:WiFi Dual Band N PCI-E Adapter
Power Supply:500w ATX 80 Plus Gold
Operating System:Windows 10 64bit Home Edition USB
Should speed things up a touch.
I also went with 2 new Samsung 32" curved 1440p monitors and I should be all set for the next few years. Love the speed increase of booting up and loading programs with the SSD.
Approaching the 1 year mark since I left full time employment and concentrated on my trading. I don't know whether it's gone quick or slow when I think back.
I'm after some advice on a situation that has been playing on my mind more and more lately.
A good friend decided he wanted to invest some money back when I was still working full time, around 3 and half years ago. I agreed and we've never had any formal agreement, just an old fashioned gentleman's agreement and I've never charged any fees.
Long story short, his investment is now worth a considerable amount and it's got to the point that he's relying on me to get him to early retirement so he can buy a farm in the UK and retire. We're off to Pebble Beach for his 40th to celebrate what has been a massive ride.
I'm all too aware how dangerous forecasting the future is but all being well within the next 24-36 months he should have enough to buy his farm. However, a few things are on my mind. There isn't a conversation we don't have where trading/money isn't involved and bar our interest in golf and movies, I genuinely doubt how close we'd really be if it wasn't for the situation we're in. He has zero passion for cars and well, I have a huge passion for them.
I've treated my wife to a few presents leading upto her birthday and Christmas and noticed a few remarks about spending money etc. I'm not sure where or how it got to the point I have to explain my own spending but it's highly annoying! I cannot wait to see the reaction when my Trackhawk arrives towards the end of March, haha.
I think the ultimate issue I have is, why am I taking him all the way to his dream? And I can't really answer that. I've almost decided that I'll go to the end of this year and call it time and he can use the money how he sees fit.
Comments welcome...
I'm after some advice on a situation that has been playing on my mind more and more lately.
A good friend decided he wanted to invest some money back when I was still working full time, around 3 and half years ago. I agreed and we've never had any formal agreement, just an old fashioned gentleman's agreement and I've never charged any fees.
Long story short, his investment is now worth a considerable amount and it's got to the point that he's relying on me to get him to early retirement so he can buy a farm in the UK and retire. We're off to Pebble Beach for his 40th to celebrate what has been a massive ride.
I'm all too aware how dangerous forecasting the future is but all being well within the next 24-36 months he should have enough to buy his farm. However, a few things are on my mind. There isn't a conversation we don't have where trading/money isn't involved and bar our interest in golf and movies, I genuinely doubt how close we'd really be if it wasn't for the situation we're in. He has zero passion for cars and well, I have a huge passion for them.
I've treated my wife to a few presents leading upto her birthday and Christmas and noticed a few remarks about spending money etc. I'm not sure where or how it got to the point I have to explain my own spending but it's highly annoying! I cannot wait to see the reaction when my Trackhawk arrives towards the end of March, haha.
I think the ultimate issue I have is, why am I taking him all the way to his dream? And I can't really answer that. I've almost decided that I'll go to the end of this year and call it time and he can use the money how he sees fit.
Comments welcome...
what would have been the situation if you had blown the lot of your mates money rather than give him a good return?
how much percentage wise will he have increased his 'investment' by?
he must have good faith in you to have given you in the first place with no strings attached?
maybe let him know the situation and he may want to stay for the ride or pull half out or whatever , but the investment he made may have made all the difference to your success as far as he's concerned
well done on the transition anyway , good luck going forward
how much percentage wise will he have increased his 'investment' by?
he must have good faith in you to have given you in the first place with no strings attached?
maybe let him know the situation and he may want to stay for the ride or pull half out or whatever , but the investment he made may have made all the difference to your success as far as he's concerned
well done on the transition anyway , good luck going forward
It sounds like his money is in your account and he is suffering from the classic fear that somehow it’s all a con etc?
If his money is in your account then I would move it out to an account in his own name and just connect it up to yours to mirror. Most brokers have a PAM system these days.
Ultimately you are going to lose him as a friend if you have a bad year and you get nothing if he has a good year so there is absolutely nothing in this relationship for you only downside anyway. Especially now that you are no longer a trader but an unpaid pension plan.
If his money is in your account then I would move it out to an account in his own name and just connect it up to yours to mirror. Most brokers have a PAM system these days.
Ultimately you are going to lose him as a friend if you have a bad year and you get nothing if he has a good year so there is absolutely nothing in this relationship for you only downside anyway. Especially now that you are no longer a trader but an unpaid pension plan.
Flipfloptrader said:
Approaching the 1 year mark since I left full time employment and concentrated on my trading. I don't know whether it's gone quick or slow when I think back.
I'm after some advice on a situation that has been playing on my mind more and more lately.
A good friend decided he wanted to invest some money back when I was still working full time, around 3 and half years ago. I agreed and we've never had any formal agreement, just an old fashioned gentleman's agreement and I've never charged any fees.
Long story short, his investment is now worth a considerable amount and it's got to the point that he's relying on me to get him to early retirement so he can buy a farm in the UK and retire. We're off to Pebble Beach for his 40th to celebrate what has been a massive ride.
I'm all too aware how dangerous forecasting the future is but all being well within the next 24-36 months he should have enough to buy his farm. However, a few things are on my mind. There isn't a conversation we don't have where trading/money isn't involved and bar our interest in golf and movies, I genuinely doubt how close we'd really be if it wasn't for the situation we're in. He has zero passion for cars and well, I have a huge passion for them.
I've treated my wife to a few presents leading upto her birthday and Christmas and noticed a few remarks about spending money etc. I'm not sure where or how it got to the point I have to explain my own spending but it's highly annoying! I cannot wait to see the reaction when my Trackhawk arrives towards the end of March, haha.
I think the ultimate issue I have is, why am I taking him all the way to his dream? And I can't really answer that. I've almost decided that I'll go to the end of this year and call it time and he can use the money how he sees fit.
Comments welcome...
What a horrible position to be in. Have a couple of mates who lean on me a bit more than they possibly should but certainly not to this extent!!! I'd get out.I'm after some advice on a situation that has been playing on my mind more and more lately.
A good friend decided he wanted to invest some money back when I was still working full time, around 3 and half years ago. I agreed and we've never had any formal agreement, just an old fashioned gentleman's agreement and I've never charged any fees.
Long story short, his investment is now worth a considerable amount and it's got to the point that he's relying on me to get him to early retirement so he can buy a farm in the UK and retire. We're off to Pebble Beach for his 40th to celebrate what has been a massive ride.
I'm all too aware how dangerous forecasting the future is but all being well within the next 24-36 months he should have enough to buy his farm. However, a few things are on my mind. There isn't a conversation we don't have where trading/money isn't involved and bar our interest in golf and movies, I genuinely doubt how close we'd really be if it wasn't for the situation we're in. He has zero passion for cars and well, I have a huge passion for them.
I've treated my wife to a few presents leading upto her birthday and Christmas and noticed a few remarks about spending money etc. I'm not sure where or how it got to the point I have to explain my own spending but it's highly annoying! I cannot wait to see the reaction when my Trackhawk arrives towards the end of March, haha.
I think the ultimate issue I have is, why am I taking him all the way to his dream? And I can't really answer that. I've almost decided that I'll go to the end of this year and call it time and he can use the money how he sees fit.
Comments welcome...
Flipfloptrader said:
Approaching the 1 year mark since I left full time employment and concentrated on my trading. I don't know whether it's gone quick or slow when I think back.
I'm after some advice on a situation that has been playing on my mind more and more lately.
A good friend decided he wanted to invest some money back when I was still working full time, around 3 and half years ago. I agreed and we've never had any formal agreement, just an old fashioned gentleman's agreement and I've never charged any fees.
Long story short, his investment is now worth a considerable amount and it's got to the point that he's relying on me to get him to early retirement so he can buy a farm in the UK and retire. We're off to Pebble Beach for his 40th to celebrate what has been a massive ride.
I'm all too aware how dangerous forecasting the future is but all being well within the next 24-36 months he should have enough to buy his farm. However, a few things are on my mind. There isn't a conversation we don't have where trading/money isn't involved and bar our interest in golf and movies, I genuinely doubt how close we'd really be if it wasn't for the situation we're in. He has zero passion for cars and well, I have a huge passion for them.
I've treated my wife to a few presents leading upto her birthday and Christmas and noticed a few remarks about spending money etc. I'm not sure where or how it got to the point I have to explain my own spending but it's highly annoying! I cannot wait to see the reaction when my Trackhawk arrives towards the end of March, haha.
I think the ultimate issue I have is, why am I taking him all the way to his dream? And I can't really answer that. I've almost decided that I'll go to the end of this year and call it time and he can use the money how he sees fit.
Comments welcome...
Either a) give him all his money back immediately, or b) from Feb 1st start charing him a 2% management fee per year plus 30% of profits. As someone else pointed out you have no upside, only downside. You are mad! I'm after some advice on a situation that has been playing on my mind more and more lately.
A good friend decided he wanted to invest some money back when I was still working full time, around 3 and half years ago. I agreed and we've never had any formal agreement, just an old fashioned gentleman's agreement and I've never charged any fees.
Long story short, his investment is now worth a considerable amount and it's got to the point that he's relying on me to get him to early retirement so he can buy a farm in the UK and retire. We're off to Pebble Beach for his 40th to celebrate what has been a massive ride.
I'm all too aware how dangerous forecasting the future is but all being well within the next 24-36 months he should have enough to buy his farm. However, a few things are on my mind. There isn't a conversation we don't have where trading/money isn't involved and bar our interest in golf and movies, I genuinely doubt how close we'd really be if it wasn't for the situation we're in. He has zero passion for cars and well, I have a huge passion for them.
I've treated my wife to a few presents leading upto her birthday and Christmas and noticed a few remarks about spending money etc. I'm not sure where or how it got to the point I have to explain my own spending but it's highly annoying! I cannot wait to see the reaction when my Trackhawk arrives towards the end of March, haha.
I think the ultimate issue I have is, why am I taking him all the way to his dream? And I can't really answer that. I've almost decided that I'll go to the end of this year and call it time and he can use the money how he sees fit.
Comments welcome...
marky1 said:
Either a) give him all his money back immediately, or b) from Feb 1st start charing him a 2% management fee per year plus 30% of profits. As someone else pointed out you have no upside, only downside. You are mad!
This 100% but just (a). You cant legally do b.... Imagine you have a bad run - down 25%. You tell him just as your trackhawk arrives. He'll probably be down the cops accusing you of all sorts....I'd never trade for friends or family.
DonkeyApple said:
It sounds like his money is in your account and he is suffering from the classic fear that somehow it’s all a con etc?
If his money is in your account then I would move it out to an account in his own name and just connect it up to yours to mirror. Most brokers have a PAM system these days.
Ultimately you are going to lose him as a friend if you have a bad year and you get nothing if he has a good year so there is absolutely nothing in this relationship for you only downside anyway. Especially now that you are no longer a trader but an unpaid pension plan.
Does a PAMM require any regulation from the trader? If his money is in your account then I would move it out to an account in his own name and just connect it up to yours to mirror. Most brokers have a PAM system these days.
Ultimately you are going to lose him as a friend if you have a bad year and you get nothing if he has a good year so there is absolutely nothing in this relationship for you only downside anyway. Especially now that you are no longer a trader but an unpaid pension plan.
DonkeyApple said:
It sounds like his money is in your account and he is suffering from the classic fear that somehow it’s all a con etc?
If his money is in your account then I would move it out to an account in his own name and just connect it up to yours to mirror. Most brokers have a PAM system these days.
Ultimately you are going to lose him as a friend if you have a bad year and you get nothing if he has a good year so there is absolutely nothing in this relationship for you only downside anyway. Especially now that you are no longer a trader but an unpaid pension plan.
We've had separate accounts since we began as I didn't want any joint account association.If his money is in your account then I would move it out to an account in his own name and just connect it up to yours to mirror. Most brokers have a PAM system these days.
Ultimately you are going to lose him as a friend if you have a bad year and you get nothing if he has a good year so there is absolutely nothing in this relationship for you only downside anyway. Especially now that you are no longer a trader but an unpaid pension plan.
I had a pretty good chat with my wife about it yesterday and I'm going to sit down with said friend and explain my issues/worry and that I'll be terminating the trading relationship after the new financial year.
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