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Should I take dive and trade my own account ?
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Created: by kolmogorov Attachments:0

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Should I take dive and trade my own account ?

  #11 (permalink)
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kolmogorov View Post
I have backtested and have success with the back testing.

Unfortunately, backtesting is not sufficient. For a myriad of reasons, whether discretionary or algorithmic, you have to trade your method live for an extended period to know if it is going to work. Someone once said if backtesting and optimization were the tenants of profitable trading, then all traders would be profitable (it may have actually been me, but I honestly can't remember at this point ). Trust me, most aren't. If you can't trade it, then I would at least run it in simulation going forward for a sufficient period and then run the backtest for the same period and compare the results. Understand that even sim fills will not 100% mirror live fills.

But in the end if you have had enough and you just don't give a shit anymore, then it really doesn't matter what I say. I just don't want you to end up with the shock of your life if/when you realize it isn't going to work as you anticipated. Good luck!

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  #12 (permalink)
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Keep the job and let your wife to trade for you or hire some student and give him or her rules to trade in your wifes account. Should be way cheap than loosing your income. Удачи.

Trade to live. Not live to trade.
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  #13 (permalink)
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vegasfoster View Post
Let's assume he was programming algos, is that gonna help him as a retail trader? I don't think so, but I don't really know, I just know I would highly recommend figuring it out first.

Agreed. Just puzzled as to why a guy from a hedge fund with above average networth seek advice here.
This is just a bit out of character from those who I know with a similar status/career in this industry.

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  #14 (permalink)
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mattz View Post
Agreed. Just puzzled as to why a guy from a hedge fund with above average networth seek advice here.
This is just a bit out of character from those who I know with a similar status/career in this industry.

There are lots of HFM's and small institutional traders on futures.io (formerly BMT). I've heard from many over the years. Most just don't make it public info due to legal.

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  #15 (permalink)
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kolmogorov View Post
Hi there!
Am new to this forum. I am computer programmer and have worked at successful hedge fund for last 10 years. I make a good living. I am 40 years old, married with no kids but we soon plan on having 1 or 2.

I have about 2.2 million saved and am looking to trade futures on my own. The hard part is leaving my job because it pays well with great benefits. I am confident I can make 10-15 pct a year trading on my own. Taxes of course would decrease this amount. My wife is not a big spender so no worries on that front, plus she want to work part time pulling in 30k a year.

My reason for going on my own is mainly because firm I work for has changed too much. Politics have taken over and the people in charge I don't really believe in. They have positions due to politics rather than skill. In old days the skilled folks ran things. Returns have suffered due to this.

I know I'm smart enough to do. My main concern is will I be too lazy to get up and do the work everyday without someone looking over my shoulder to make sure I work.

Would you guys do it in my situation ? I am weighing good secure income against less secure income but independence and freedom and challenge.

How confident are you that you can make 10-15 pct? What makes you think this? Have you practiced with live trading previously? The bigger question here is why you want to leave a good paying job and trade instead. If it is to avoid the politics than I'd highly suggest you find a different job at another hedge fund even though politics are everywhere. If you really want to trade and it's your life passion then the above question about being able to make 10 percent should already have some evidence to stand by. Not to discourage you but back-testing alone will not suffice for a clear future expectation. Honestly if I was in your situation, and trading were my life passion, I'd let a good portion of my money sit in some low yielding safe investment and live off off the interest as I use a small 100,000 account trading 1-3 contracts max. If all else fails then the interest alone should make up for the losses.


Last edited by Itchymoku; October 11th, 2013 at 11:09 PM.
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  #16 (permalink)
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Big Mike View Post
There are lots of HFM's and small institutional traders on futures.io (formerly BMT). I've heard from many over the years. Most just don't make it public info due to legal.

Sent from my LG Optimus G Pro

I donít disagree and I think I have corresponded with some on and off futures.io (formerly BMT). I just never seen them seeking career advice and discussions were in the context of trading. I donít want discourage a discussion, just found this entire full story a bit odd. Again, I have a different experience with this type of clientele. Please help the guy because I am always open minded that I could be completely off.

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  #17 (permalink)
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If you're worried about being too lazy to trade, from personal experience, I have been on edge the past year after losing a lot of hard earned money. That gives me the motivation to read, study, and trade 60+ hours a week. The only worry for me is never becoming profitable for the long-term. I refer you to my "End of Day Trading" thread for an intense discussion on the issue of the future of day trading for steady income.

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  #18 (permalink)
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@kolmogorov

Are you still around or checking your PM? I just realized that I know a very established group of guys (15-20 years of fund experience per person) who will be interested to have you as an equal managing partner (10-20% owner). Honestly, the main limiting factor is that you might have to move to Chicago or nearby. Otherwise, I think you'd be interested to work with them because you'll be able to leverage their exchange memberships and existing software, data and hardware (they spend about $0.5M per month on colocation). It's a good deal and I wanted to buy them out except that they didn't fit into the culture.

PM me if you're interested and I can arrange a phone call.

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  #19 (permalink)
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kolmogorov View Post
I would like to do this but with my current job I'm not allowed to trade due to company rules ( signed contract ). I have backtested and have success with the back testing.

Perhaps have a good lawyer look over the contract for any loop holes? And if there are any, have him on retainer.

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