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Anyone heard of SpreadProfessor?

  #8 (permalink)

Elite Member
Singapore + Singapore
Trading Experience: Advanced
Platform: TT / CQG / BBG
Favorite Futures: Commodities
Posts: 4 since Feb 2013
Thanks: 1 given, 1 received

Here are my thoughts...

Trading is a tradecraft and has been traditionally passed along, at least in the banks, in an apprenticeship type model. You find someone who is more experienced than you who is willing share their experience and knowledge with you, and will show you (partially) how they do things. No one wants to lose their job to a young whippersnapper.

Pete is obviously a trader. He is a bit rough around the edges, at times curt, can be domineering, and is very convicted about his ideas. (We've butted heads a few times of course. So I can sympathize with what some members are saying) But so is practically every other experienced trader on the desk. If he were very smooth in his client management skills, I might question his trading abilities, and think he came from the sales side of the desk.

What you're paying for is not a 'system' in the sense of a set of rules that you can execute every single time and make money. And if you're looking for that you're already asking the wrong questions from the beginning. You're paying for the apprenticeship from a more experienced trader to teach you how he thinks about 'spread trading' across multiple asset classes and what from his experience has worked for him. Like with all things, you need to do your own homework, and make it your own.

As for the comments about incorporating fundamentals... if you're experienced and you know how to do the analysis, you're going to be doing already. If you don't have experience, you are really fooling yourself into thinking you know the market by incorporating your understanding of 'fundamentals' after reading Oil 101, the FT, or worse investment banking research.

I'm not discouraging people from doing fundamental analysis. But it takes years of specialized experience, and information on flows (which you don't have btw), to understand what's going on on the short term basis. The more medium-term fundamental setup doesn't really change that much each year either. And you can only trade one or two markets with that type of knowledge. So a px-action system can offer a better winning %-age than your ideas on your one or two markets, and give you more breadth.

I'm not a very good intra-day trader so I can't really comment on that front. However, I know the prop guys at Schneider here in Singapore are all losing their shirts this year. Everyone with TT Pro, Autotrader, and co-located server-side execution, thinks they can design some algorithm to arb the Nikkei or Gold, or scalp the Simsci faster than everyone else with the same setup. But, there's not a whole lot money left, IMO, and based on people's returns. But if you can make money consistently that's great.

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