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The Really Useless Thread

  • #3,221
  • Aug 25, 2011 2:09pm Aug 25, 2011 2:09pm
Quoting PayTheLimit
what abour rat girl? MIA?

Ratboy got fecked in the ~rse too many times by the market and is in for surgery.
  • #3,222
  • Aug 25, 2011 2:10pm Aug 25, 2011 2:10pm
Quoting cloggie
Ratboy got fecked in the ~rse too many times by the market and is in for surgery.
so your sure its a he,eh? what about the pic?
Look Sharp/Trade Tight
  • #3,223
  • Aug 25, 2011 2:10pm Aug 25, 2011 2:10pm
Quoting PayTheLimit
are the algos even turned on?
Oh, they're on all right. This falling range can even be a signature some times, for the reasons like in that video archie or somebody posted couple nights ago on algorithms. If there's no slope, they can drive their trigger points right together.
  • #3,224
  • Aug 25, 2011 2:12pm Aug 25, 2011 2:12pm
Quoting needpips
have we gotten back to 44 yet?.......by the way, Im eyeing 4290
10 day sma, fib of the drop and previous range support (turned resistance?) appears to be capping it for now..

edit: larger tf candles are pointing to an interim bottom being in, but let's see...
  • #3,225
  • Aug 25, 2011 2:12pm Aug 25, 2011 2:12pm
by the way Cloggie, I have completely used your down time theory .... I get more accomplished..... this time of the day blows (but I still have my targets with alerts....)
  • #3,226
  • Aug 25, 2011 2:12pm Aug 25, 2011 2:12pm
Quoting OldQuant
Oh, they're on all right. This falling range can even be a signature some times, for the reasons like in that video archie or somebody posted couple nights ago on algorithms. If there's no slope, they can drive their trigger points right together.
what where the first algos I wonder, was it those program trading guys..futures/cash?.
Look Sharp/Trade Tight
  • #3,227
  • Aug 25, 2011 2:14pm Aug 25, 2011 2:14pm
actually 44 to (4420 [ asia & LO ])
  • #3,228
  • Aug 25, 2011 2:16pm Aug 25, 2011 2:16pm
Quoting PayTheLimit
what where the first algos I wonder, was it those program trading guys..futures/cash?.

I worked with a bunch of guys back in the 80's on arb trading for Ty as we couldn't be bothered staying up so late, getting in the way of some serious drinking, wished now I had paid more attention.....Not being clever enough to get into that has been my only regret over the years.
  • #3,229
  • Aug 25, 2011 2:19pm Aug 25, 2011 2:19pm
Quoting PayTheLimit
what where the first algos I wonder, was it those program trading guys..futures/cash?.
There were apparently some in the early 70's, according to Jerry Goodman ("Adam Smith"). But, yeah, it was the guys like the Ritchie brothers (CRT) and the crazy Hull who figured out the futures arbs that really brought it up.
  • #3,230
  • Aug 25, 2011 2:21pm Aug 25, 2011 2:21pm
Quoting cloggie
I worked with a bunch of guys back in the 80's on arb trading for Ty as we couldn't be bothered staying up so late, getting in the way of some serious drinking, wished now I had paid more attention.....Not being clever enough to get into that has been my only regret over the years.
Well I missed the boat on it too..
Look Sharp/Trade Tight
  • #3,231
  • Aug 25, 2011 2:24pm Aug 25, 2011 2:24pm
don't you need a phd to get into a city/wall st firm as a quant analyst?
  • #3,232
  • Aug 25, 2011 2:25pm Aug 25, 2011 2:25pm
Quoting FibbinArchie
don't you need a phd to get into a city/wall st firm as a quant analyst?
nah.. just a target school like MIT
  • #3,233
  • Aug 25, 2011 2:25pm Aug 25, 2011 2:25pm
Quoting FibbinArchie
don't you need a phd to get into a city/wall st firm as a quant analyst?
Yeah, I interviewed for one of these firms. They guys there were all PHDs in Math and Computer Science from MIT. I mean, heavy duty stuff...
  • #3,234
  • Aug 25, 2011 2:26pm Aug 25, 2011 2:26pm
Quoting OldQuant
There were apparently some in the early 70's, according to Jerry Goodman ("Adam Smith"). But, yeah, it was the guys like the Ritchie brothers (CRT) and the crazy Hull who figured out the futures arbs that really brought it up.
yea those guys where in early..I do still remeber noting the buy/sell numbers for the spooz everyday...the easiest way to spot those programs was in the TICK on the spot side..in the pit it was either the First Boston or Plaza brokers, Goldman was way behind back then...
Look Sharp/Trade Tight
  • #3,235
  • Aug 25, 2011 2:27pm Aug 25, 2011 2:27pm
Quoting PayTheLimit
Well I missed the boat on it too..

We got a Sun system in the late 80's and then I just lost the plot, I couldn't keep up with it anymore. It is the only reason I use a MT4 based charting now, my goal is to finally automate my trading myself here.
  • #3,236
  • Aug 25, 2011 2:28pm Aug 25, 2011 2:28pm
Quoting darimik
nah.. just a target school like MIT
probably equates to a first from an oxbridge uni in the uk, equivalent to ivy league..
  • #3,237
  • Aug 25, 2011 2:29pm Aug 25, 2011 2:29pm
What's interesting to me is how the HFT carries their own destruction inside themselves. Whenever you give the pattern recognition programs enough data points to work on, they can find the signatures in a matter of hours, instead of months like the old lower freq pa based or arb based methods.

Once they have your pattern, its like somebody stealing your pin number. They gotchya.
  • #3,238
  • Aug 25, 2011 2:31pm Aug 25, 2011 2:31pm
Quoting attila
Yeah, I interviewed for one of these firms. They guys there were all PHDs in Math and Computer Science from MIT. I mean, heavy duty stuff...
you need to get started young to get to that level and still fit in a 30 year career...
  • #3,239
  • Aug 25, 2011 2:33pm Aug 25, 2011 2:33pm
Quoting FibbinArchie
you need to get started young to get to that level and still fit in a 30 year career...
The team lead was a little older but the others were in their twenties..
  • #3,240
  • Aug 25, 2011 2:35pm Aug 25, 2011 2:35pm
Quoting FibbinArchie
don't you need a phd to get into a city/wall st firm as a quant analyst?
Yeah, to get into the skunk works teams of the big sell sides.

But buy side or even mid tier bank desk quants, not as much. A solid guy out of IT, who knows the machines, the feeds, and can demonstrate to the head trader that he'll work his a$$ off and understands the game and the goal, he can move to the desks pretty fast.
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