Hi,
I was wondering if someone has been in a similar situation.
I am a web developer by trade (.Net). And over the last 2 years I have been traveling around Asia while educating myself about trading and automated strategy development.
I have successfully created a few profitable strategies that are still working today (and many that worked for either a very short time or didn't work at all in live market conditions)
I am now in London trying to apply for job that mix coding and trading and I am not getting any luck so far.
Is the experience of a retail trader disregarded by financial institutions?
As anyone from futures.io (formerly BMT) landed a job in London or New york after beeing a retail trader (automated or not) for sometime?
Thanks,
Chris
Can you help answer these questions from other members on futures io?
I can't say I am living from it as yet. Like many traders I have my demons and I need to learn to accept my bots loose money some months and accept it (as long as it doesn't go beyond my max drawdown). In the past I tried some discretionary trades on bad months. This resulted in more loss that wiped previous months wins. I am hoping I have remembered the pain it generated and that I wont try again. I believe if I can stick to algo I am on the path to be profitable.
The reason I want to work in the industry is that 1) I like this industry, 2)I am a sociable and miss having work mates and team work. 3) I believe I could learn more yet bring maybe a different mindset than math phd's.
Other than that and not specific to a job to a job in Finance, I believe having a regular stream of income is always beneficial as a trader. I could go back into web development but I am bored of this industry. I find it quite repetitive after a decade in it.
I have sent a dozen of applications in London but no reply or a call back. Does anyone on futures.io (formerly BMT) work in finance in London or know people who do?
Below the pref report of my favorite strategy over the current ES contract during the last 2.5 months. (Commission not included). And yes I do trade it live with real money.
Performance All Trades
Total Net Profit $13225.00
Gross Profit $40125.00
Gross Loss $-26900.00
Commission $0.00
Profit Factor 1.49
Cumulative Profit $13225.00
Max. Drawdown $-3925.00
Sharpe Ratio 9.89
Start Date 3/06/2015
End Date 26/08/2015
Total # of Trades 168
Percent Profitable 42.26%
# of Winning Trades 71
# of Losing Trades 97
Average Trade $78.72
Average Winning Trade $565.14
Average Losing Trade $-277.32
Ratio avg. Win / avg. Loss 2.04
Max. conseq. Winners 6
Max. conseq. Losers 8
Largest Winning Trade $1250.00
Largest Losing Trade $-637.50
# of Trades per Day 2.13
Avg. Time in Market 620.1 min
Avg. Bars in Trade 22.8
Profit per Month $5105.85
Max. Time to Recover 14.68 days
Average MAE $275.00
Average MFE $474.41
Average ETD $395.69
The following user says Thank You to Christophe for this post:
its always hard to get a job when you are not working. you can always try just getting your foot in the door in a company doing something else and work your butt off and network inside and then try and transfer to the dept you want to work. i worked for an investment bank for 8 years and unless the candidate came from another bank or another department in our bank we didnt even bother interviewing them. we definetly filled more positions internally than with outside candidates.
The following user says Thank You to US Bond Trader for this post:
I have only seen the new posts only a couple of days ago. Finally got the chance to watch all the 5 parts.
I have learned a lot about the difference between investment banking and Edge funds.
I believe if not mistaken that out of the dozen of CV's sent only one was for an investment bank. The rest were for Edge funds.
One thing that puzzled me is that he seem to conclude that starting trading your own money is the best way.
I am not denying this. But he's doing this presentation to a crowd of students. As he mentioned in the first part, most of them would be in debts.
That's where he lost me. How would those students raise the capital to fund a decent trading account to start with?
Is the university setting just a prop to give his speech more credibility to a much bigger online audience?
I have previously watched Anton Kreil in Million Dollar traders which I found to be pretty good entertainment TV (from what I can remember) but I don't think I have learned anything from it.
He also never clearly mentioned the risk of trading your own money in the videos but emphasizes on the quality of his training.
Like many futures.io (formerly BMT) users I believe the education anyone would need is available here and there for free.
Again the videos are totally worth watching for the Edge fund vs Investment banking comparison point of view. So thanks again for sharing.
PS: Anton Kreil co star, Lex Van Dam, is also selling his own educational program.
