This is a day trading forum. Maybe they do not consider themselves day traders, so this forum does not appeal to them. Also they may not have the time to hang around here. Or they have already moved on to www.wilmott.com
I know for a fact there are many here, but they don't post much in the public. I know this based on the PM's I get where they tell me their role and/or share some details.
How to get them to post in public, I don't know. It's the great mystery of the forum universe.
Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.
Need help? 1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first. 2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses. 3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make. 4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance. 5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers. 6) Help using the forum? Watch this video to learn general tips on using the site.
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The following user says Thank You to Big Mike for this post:
A close relative is a broker in the City of London and a close friend is head of global equity trading for a major international bank.
Whenever I speak to them about trading, I'm struck by one thing - their complete ignorance when it comes to technical analysis. All they have used in their careers is VWAP as they get judged on their ability to get the best price for the trades and that is assessed by bettering VWAP.
Both are multi millionaires who have had long and successful careers in trading for Institutional investors.
The following 5 users say Thank You to David for this post:
Speaking from the equity side of institutional trading...
1. Teams are broken down by sectors. Depending on how active the sector is dictates how many traders cover said sector.
2. Every security in that sector has many institutional holders, which the salespeople cover. As the trader
your expected to know everything about your sector and the stocks that trade in it.
3. If a large print, news or price movement occurs, your job is to inform salespeople so they can be the 1st
call into the institutional holders, why? because they have the inventory. Also, should always be indicating
a menu in which your willing to buy or sell large quantity of all your active names.
Overall, Banks have/had deep pockets. But the order sizes can be large and in turn move the market around.
Where you and I see Bollinger bands, the banks know where the holders of xyz have/had interest in the past and thus a vested interest in where their large holdings trade.
Prop desks @ the banks= different area, usually focus on whats hot (ie what GS is doing) call it GS envy.
The following 4 users say Thank You to Little Joe for this post: