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  • #19,421
  • Mar 22, 2010 1:09am Mar 22, 2010 1:09am
Saxon,

If you dont mind, what is your "fund" avereraging per month % wise.

Thanks

Quoting Saxon
I dunno, it all sounds good on paper and helps sell a book, but the guys saying that junk probably don't follow it. It takes some balls to do that. Also, it is a completely subjective quote and by subjective I mean subjective to the trading environment and TF. There are a lot of "Ooo Ahh" "That's so deep" quotes out there (buy on the rumor, sell on the news) but a lot of them, I feel, are BS.
Annoying Precision
  • #19,422
  • Mar 22, 2010 1:20am Mar 22, 2010 1:20am
Quoting erikte279
Saxon,

If you dont mind, what is your "fund" avereraging per month % wise.

Thanks
We shoot for 5% safety buffer, and 15% standard. Right now I am trading on an account that was opened on March 8 and has a 22.776% return. Will be closing it in April.
  • #19,423
  • Mar 22, 2010 1:22am Mar 22, 2010 1:22am
Saxon,

Also, in your professional opinion what credentials should a trader possess to realistically expect to be "hired" on as a trader for hedge fund ect...

Thanks again,
Annoying Precision
  • #19,424
  • Mar 22, 2010 1:39am Mar 22, 2010 1:39am
Is anyone else getting impatient waiting for this wedge breakout?
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #19,425
  • Mar 22, 2010 1:45am Mar 22, 2010 1:45am
Quoting erikte279
Saxon,

Also, in your professional opinion what credentials should a trader possess to realistically expect to be "hired" on as a trader for hedge fund ect...

Thanks again,
It depends on the size of the fund you want to get into (Boutique?). I could go into this for a while, but I will try to keep it short.
If you want to get into a hedge fund the statement, "it's not what you know but who you know" is sadly true; even with big banks. There is the
exception where some shining star comes in for an interview and wows you ya know, but chances are, a lot of hedge funds were started by
a group of friends and they like to hire who they know. Also, when I was at GS, a lot of hedge funds would have lateral transfers, that is,
VPs at GS would go and work over at some hedge fund. Also, a lot of those GS guys started their own.
When it comes to what you need on your resume, usually a BS degree will get you into a Analyst position in a bank, an MS and PhD will get you
an interview at a big HF. Also, what you can do is start a research paper on some hedge fund topic
you like and present it to the HF a long with your resume. I proposed and quantified a dual alpha inherent in algorithm trading while I was
at GS and it was a good conversation starter. Go to SSRN's website and search around for some ideas. Also, you can do what I did, and start
your own. If you are good at something, then why should someone else make money on you, you should make money on you. If you trade Forex
and are good at it and get consistent returns, then you will have NO problem getting investors. If you want me to give you some advise on
the best way to get a Forex Boutique going, I can walk you through it and give you some of my contacts that can help expedite it for you.
I honestly think that if you are good at trading then start your own HF. Sounds daunting, but it isn't as hard as you think. Big Hedge Funds
are just a big group of "good ol Boys" that are going to get passed up by the boutiques. Look at your personal FX returns, and if they beat
some benchmark, say the S&P or some other Standard, or what not, then you are good enough to compete. If you are trading .1 lots on your 5K account, then you will
trade 10 lots for 500,000 client capital. Nothing really that much different. I hope this helped and if you have any questions then shoot me
an e-mail or something and I will be more than happy to give you some advise.
  • #19,426
  • Mar 22, 2010 1:46am Mar 22, 2010 1:46am
Quoting Saxon
It depends on the size of the fund you want to get into (Boutique?). I could go into this for a while, but I will try to keep it short.
If you want to get into a hedge fund the statement, "it's not what you know but who you know" is sadly true; even with big banks. There is the
exception where some shining star comes in for an interview and wows you ya know, but chances are, a lot of hedge funds were started by
a group of friends and they like to hire who they know. Also, when I was at GS, a lot of hedge funds would have lateral transfers, that...
Also, trader positions at large HFs are usually outsourced and they pull in FICC traders from GS, MS, Deutch, etc...
  • #19,427
  • Mar 22, 2010 1:51am Mar 22, 2010 1:51am
Quoting MarcVUM
Is anyone else getting impatient waiting for this wedge breakout?
Hey Marc,
What's up. If you get bored, just throw a 100MA and a 50MA up and you can trade small swings and get 10 or so pips every hour or so. Use a 5M and trade off 100MA. I have been doing it for a little while and done pretty well. Make sure you watch distance between MA and Horizontal resistance as swings are getting smaller
Attached Image (click to enlarge)
Click to Enlarge Name: 100ma.jpg Size: 99 KB
  • #19,428
  • Mar 22, 2010 2:03am Mar 22, 2010 2:03am
Quoting Saxon
Hey Marc,
What's up. If you get bored, just throw a 100MA and a 50MA up and you can trade small swings and get 10 or so pips every hour or so. Use a 5M and trade off 100MA. I have been doing it for a little while and done pretty well. Make sure you watch distance between MA and Horizontal resistance as swings are getting smaller
Hey Saxon. I picked a few swings but using the 15m. I vowed never to use the 5m chart ever again a couple of years ago after blowing a good size account! Don't like range trading if it's not necessary but since I get bored easily it's hard to resist.

Looks like we got a break just now.
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #19,429
  • Mar 22, 2010 2:05am Mar 22, 2010 2:05am
Thanks!

I'm not quite at the point where I would feel comfortable trading others funds, I still need to refine myself further. I'll keep your email bookmarked.
Certainly a motivator to work smarter and harder

Thanks a million ,
Erik


Quoting Saxon
It depends on the size of the fund you want to get into (Boutique?). I could go into this for a while, but I will try to keep it short.
If you want to get into a hedge fund the statement, "it's not what you know but who you know" is sadly true; even with big banks. There is the
exception where some shining star comes in for an interview and wows you ya know, but chances are, a lot of hedge funds were started by
a group of friends and they like to hire who they know. Also, when I was at GS, a lot of hedge funds would have lateral transfers, that...
Annoying Precision
  • #19,430
  • Mar 22, 2010 2:08am Mar 22, 2010 2:08am
Quoting MarcVUM
Hey Saxon. I picked a few swings but using the 15m. I vowed never to use the 5m chart ever again a couple of years ago after blowing a good size account! Don't like range trading if it's not necessary but since I get bored easily it's hard to resist.

Looks like we got a break just now.
yep but looks like it bounced back up
  • #19,431
  • Mar 22, 2010 2:15am Mar 22, 2010 2:15am
Quoting OvT
yep but looks like it bounced back up
If it does continue down, look to the 00 and the Fib for some friction. If volumes pick up a lot, then you might be able to take a grab with the stop hunters in the 00
Attached Image (click to enlarge)
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  • #19,432
  • Mar 22, 2010 2:19am Mar 22, 2010 2:19am
She's got to break through the Daily/4Hr S at 9112...
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #19,433
  • Mar 22, 2010 2:31am Mar 22, 2010 2:31am
Heres a link to the barrons 2009 top 100 hedge fund rankings.

http://www.marketfolly.com/2009/05/b...-2009-top.html


The average yearly return for a 3 year period for the middle crowd is about 16% a year.
Annoying Precision
  • #19,434
  • Mar 22, 2010 3:08am Mar 22, 2010 3:08am
Quoting blurbear
Looks like one more low below 9128 before a more sustainable rebound. Will just place small buy orders 9100 and 9085 and go have fun elsewhere, maybe cable

On second thoughts, put in another additional small buy order 9115.
9115 done, next 9100 and 9085.
  • #19,435
  • Mar 22, 2010 3:14am Mar 22, 2010 3:14am
Quoting MarcVUM
She's got to break through the Daily/4Hr S at 9112...
I dont see that support - i see a pretty clear run down to .9085 - have you got a chart handy
Attached Image (click to enlarge)
Click to Enlarge Name: aud3.jpg Size: 125 KB
BTC Return This Year: na
  • #19,436
  • Mar 22, 2010 3:22am Mar 22, 2010 3:22am
god morning everyone

whos still shorting AUD?

Im short on AUD.USD anybody has an opinion on AUD/JPY cross rate?

the rollover is good on longs.
  • #19,437
  • Mar 22, 2010 3:33am Mar 22, 2010 3:33am
Quoting M.A.C.Doug
I dont see that support - i see a pretty clear run down to .9085 - have you got a chart handy
sorry, i can't post the chart right now but go to this link: http://www.actionforex.com/technical...-200603205734/
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #19,438
  • Mar 22, 2010 3:40am Mar 22, 2010 3:40am
Ok... here's the chart 1hr. The bottom BB is holding her up along with the Daily/4hr S.
Attached Image (click to enlarge)
Click to Enlarge Name: au.jpg Size: 141 KB
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #19,439
  • Mar 22, 2010 3:42am Mar 22, 2010 3:42am
Quoting MasterOfFibo
i plan to sell and TP at 9125
closed
  • #19,440
  • Mar 22, 2010 4:16am Mar 22, 2010 4:16am
It's currently staying within the downward channel that started this morning, so I have sold @ 9127 with stop at 9150.
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