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Ex Institutional Trader

Quoting nv_trader
Congratulations to forexvegan, fxbishop, skyway, srt, [color=#333333]whatfx...
The only way you can reward me is by teaching us how to fish or let me know if you are going to have paid signals in due time. The only reason I like signals is to see if your thinking matches with mine. If so I am more confident in the trade. More than half the trades so far I don't take, not becuase I dont agree, but because I want to make sure I see what you are seeing on my end. Thanks again for the great thread. Looking forward to seeing more.
Faith ends where worry begins, and worry ends where faith begins.
Quoting forexvegan
{quote} The only way you can reward me is by teaching us how to fish or let me know if you are going to have paid signals in due time. The only reason I like signals is to see if your thinking matches with mine. If so I am more confident in the trade. More than half the trades so far I don't take, not becuase I dont agree, but because I want to make sure I see what you are seeing on my end. Thanks again for the great thread. Looking forward to seeing more.
Hi forexvegan,
Very well said. I share your point of view and I totally agree with you.
  • Post #143
  • Quote
  • Edited 10:53am Dec 11, 2013 10:20am | Edited 10:53am
Market is a bit quiet at the moment as it goes into some corrections. I closed the cable at the 10am GMT close for those very reasons - i.e. the daily leg went into a confirmed correction. There'll be plenty more opportunities.

Quoting Quidsey
{quote} of course, has to be HL, thanks.
No problem, anytime.


Quoting 21vs7
{quote} Thanks nv trader. Yes, saw few big trading floors and rarely a trader had more than two pairs. Plus, they were not connected at all. Only with corp sales sometimes. Getting the hot potato. Saw one forward trader which was getting a flow onto his desk. Numbers were ridiculous. And he had to close the risk as gently as he could do. Fun stuff. I thought there were higher position keeping on the makers side. Plus, was really keen on the idea of cross currency plays. Hm. OK, it does not change a thing thou. Like the Arsenal also. Visited one...
No problem. What you say about the hot potato is true, made me laugh.

Quoting hanover
{quote} NV, Well, thanks for the kind words, but at the end of the day, forex is about making money, as opposed to engaging in debates on semantics. I'm merely a programmer who dabbles in forex. Hence you're a long way ahead of me. This is already a very interesting thread, and I look forward to reading more of your comments. Your views on Elliott waves are spot on, for whatever my opinion is worth. David PS: My wife and I have two dogs also. Molly is a black lab/staffy cross, and Mimi a Maltese/Pomeranian cross.
Hi David, thanks for the kind words. Interesting combination of dogs. I don't have any crosses but similar to you I have a staffy which you saw on my chair in the picture of my desk (Tiger) and I also have a pomeranian (Goldie), see attached. People get scared of the staffy on dog walks but it's the pommy you got to watch out for!
Attached Image (click to enlarge)
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Quoting MrsTeapot
Hi NV Wow I have a lot to catch up on; stayed logged in and just come back to the computer after a busy weekend. Thanks for all your time for all your comprehensive posts; looking forward to digesting it all file:///C:UsersTempmsohtmlclip11clip_image002.gif
No problem any questions just ask. Still my favorite username btw, mrs teapot .

Quoting NJaNeer
{quote} Thank you for the honest answer. The questions didn't have much to do with trading, but I am intrigued on how they manage the risk and what capabilities they have to do that. I completely understand that worrying about how they trade is bad for retailers, but understanding how your opponent thinks is very important to me in a zero sum game. We as traders have to constantly fine tune our trading as the market changes to diminish any edges being used and sometimes the best way to do that is to know your opponent.file:///C:UseocalTempmsohtmlclip11clip_image003.gif...
No problem as I said if you want to know more about these activities then you can skype me anytime and we can arrange to talk at some point on a quiet Sunday. Thanks for the questions.

Regards, NV
(skype: nv_trader, email: [email protected])

REAL LIVE ACCOUNT:

***http://www.myfxbook.com/members/nv_t...-trader/749457***
Hi all,

Thanks for such a good thread Nv trader! It makes me feel Lucky today as I've joined for once at the beginning of a probable long thread
I've read your historical trading activities on myfxbook and tried by my own to find the same entry and exit points.
Here's the result for the EURAUD trade taken on the 3rd december.
I suppose that you've looked for an entry on the 1h timeframe right ? I just can't explain myself how you've taken profits at 1.5153 and according to me the exit is by far the most important thing to deal with.Am I wrong ?
There's another thing I have some difficulties with.
If I understood correctly, I don't care about the candles before the candle of the month.But on the 3rd, I also do not have candle of the week, cause currently creating it. So, on the 3rd, how can I guess if I have to look for a long or a short side? Hope it makes sense ( it's not my native language

Can't wait to learn from you
Attached Image (click to enlarge)
Click to Enlarge Name: Nv trader.PNG Size: 125 KB
Resources/Books & 20% target close

I have had a lot of messages about what books and resources I would recommend or have used myself. Let's be honest 99.9% of what's out there is utter rubbish. I've put the following information below so I can just refer people to it when they ask, which they inevitably will.

If I said you can study XYZ and in a matter of months you will be made for life then I would be no better than those contributing to that 99.9% statistic. So in keeping with the ethos of the thread I am just going to tell it like it is.

Trading psychology books as I have explained in a previous post (Psychology) I found about as useful as a handbrake on a canoe. There are no direct "learn to trade" type books I can recommend either, all gimmicks in my opinion. The only material I found useful over the years were the "bibles" I kept on my desk at work and still do in my home office:

Options Futures & Other Derivatives
Option Volatility and Pricing
Trading & Exchanges: Market Microstructure
Algorithmic Trading & DMA
Taleb on Risk: Dynamic Hedging

Granted, most are not related directly to the spot market but the foundations I learned from them have been invaluable in helping me bring my PA theories to life.

Aside from my Financial Engineering degree, I have also done the following courses which are open to anyone:

CFA Course of Study - Chartered Financial Analyst. Took me 3 years part time to complete whilst working but personally I found it not very relevant to these markets, more useful for an equity analyst.

CQF Program Structure - Certificate in Quantitative Finance. Took me about a year, again whilst working. It was brilliant but very tough. I met some incredibly smart people during this course.

In terms of online resources it won't surprise you that I have really struggled to find anything useful. I have managed to get some good ideas from the following two forums although I don't really use them much these days:

Wilmott Forum
Nuclear Phynance Forum

I totally accept that if you go down the mathematical route it is a matter of seriously rolling your sleeves up and spending quite a few years gaining the requisite knowledge for model building to bring your PA ideas to life. No different to mastering any other highly professional activity I suppose.

However, I will say that although I have yet to see any of the more traditional approaches you see on the general forums such as baby pips, FF, T2W etc work consistently I am not ruling them out before people get too disheartened. People have asked me what helped me, if you can make some of the more simple approaches work then kudos to you, it would be foolish of me to rule anything out. After all, I am no different to anyone else here, I am just a normal guy that uses a different approach, albeit relatively more complex and in doing this thread I thought it would be useful for people to see how tough it is to crack this industry.

Every approach has its flaws. I am not perfect, as I have mentioned in the very first post I ever put here, I do have some small losing months it's just that I try and look at the bigger picture. Which brings me on nicely to my next subject:

20% target close

OK everyone so I think I went in to a fair bit of detail about some of the core ideas behind my trading after hitting the initial target. I have now set a target of closing above 20% before I go into some more basic building blocks that may or may not help get people thinking if nothing more.

I am not under any illusion that the return I have generated up to now makes me a trading guru that you should listen to. In fact I still feel a little embarrassed to be sitting here giving all this advice given the trading history is not as comprehensive as I would like it.

Just a quick word on expectations if I may. I will get to 20%, but timing is out of my hands. Over a calendar year I tend to average about 10% non compounded per month in line with the last month however it is not a straight line return. I do as I have said in previous posts have some small losing months and some bigger than average months and some average months as you would expect from any probability distribution. Whilst I have no control over that the drawdowns are small. For example a 4 month stint may look a little like the following -5%, 5%, 10%, 20%. A very healthy return but net 0% the first 2 months of the sequence. That's how trend trading works, if the entire market is subdued then you just won't be getting much but you can bet your bottom dollar you will get it back later. So who knows maybe the next 2 months may be flat even slightly down you just can't tell. The key is to keep hitting that edge because your testing proves that it works over a large enough sample and stopping after 1 month of a small loss or flat is just pathetic. In that case you are in the wrong game.

So just to sum up I am happy to answer general questions on what I have shown so far but I won't be adding any new material till I close above 20% and that could be a few weeks so please be patient as the timing is up to the market.

Regards, NV
(skype: nv_trader, email: [email protected])

REAL LIVE ACCOUNT:

***http://www.myfxbook.com/members/nv_t...-trader/749457***
Analysis for Thursday 12th December 2013

Good evening,

Based on Daily closes, possible:

a) Long NZDUSD
b) Long CADJPY
c) Long NZDJPY

It's likely I will be up at 2am GMT for a few minutes to set NZDJPY because it looks close to giving a potential setup. We shall see. Not much else as market's are correcting after the recent bid.

Goodnight, NV
(skype: nv_trader, email: [email protected])

REAL LIVE ACCOUNT:

***http://www.myfxbook.com/members/nv_t...-trader/749457***
Quoting nv_trader
Breaking the market down If you really think about it you can capture the entire market in one single bar or candle. One single bar that contains the high, the low, the open and the close of the entire history of a currency pair. Call it a 100 year timeframe candle (assuming the market has been in existence for 100 years). You can then break that candle down into 2 or 3 candles. You can then break those 2 or 3 candles into 2 or 3 further candles. You can keep doing this until you reach the 1 second chart. Obviously in practice this is not necessary,...
brilliant post!!! thanks many thanks for yout time explainning your zen approach trading!!! I enjoyed a lot reading, you are helping community..hope you the best and all sucess, happiness and sunshin life!! all the best bro, ill be here following and supporting on the good and bad moments! take careawsome work!!
Hi,

A 20 year London trader , that use to call everyone "muppets" used midnight London for his 4 hour candles. You are using the 5:00 pm EST (10PM GMT) to sync your candles. Can you speak to this. Also what broker you use for spot.

thanks


The muppet man was Cloggie, many here will smile at the mention.
i liked cloggie ,this thread is good so far and at least it is live ,no other trader aka strat, daddy bear or any of them so called gurus can do that, nice and refreshing nv
student
Quoting nv_trader
Taleb on Risk: Dynamic Hedging
That you're still referring to Taleb's Dynamic Hedging as a "bible" on your desk even when you're no longer an institutional operator deserves my wonderment and respect. Salut!

Interesting thread you have here.

Subscribed!
I'm not trying to convince anyone. I'm not in the "convincing" business.
Hello Nv_trader:

From my humbly opinión i must say only three things about this thread and you.

1. Excellent thread.
2. Excellent trader.
3. Congratulations for Arsenal clasification in Champions League. R.Madrid is waiting for your team....

Kindest Regards.
That which you give to others, life will return it in spades
Quoting seeit
Hi, A 20 year London trader , that use to call everyone "muppets" used midnight London for his 4 hour candles. You are using the 5:00 pm EST (10PM GMT) to sync your candles. Can you speak to this. Also what broker you use for spot. thanks The muppet man was Cloggie, many here will smile at the mention.
Hi,
Looks like he's using AAAFx as mentionned on myfxbook
Quoting nv_trader
Analysis for Thursday 12th December 2013 Good evening, Based on Daily closes, possible: a) Long NZDUSD b) Long CADJPY c) Long NZDJPY It's likely I will be up at 2am GMT for a few minutes to set NZDJPY because it looks close to giving a potential setup. We shall see. Not much else as market's are correcting after the recent bid. Goodnight, NV (skype: nv_trader, email: [email protected]) REAL LIVE ACCOUNT: ***http://www.myfxbook.com/members/nv_t...-trader/749457***...
nv_trader,

I'm enjoying your thread. I'm still a newbie (less than 200 paper trades at this point)

Good call on NZDJPY. I did Long NZDJPY last night EST for 50pips by this morning. I still have a long trade in. It's been going and going and going since August.
Quoting seeit
Hi, A 20 year London trader , that use to call everyone "muppets" used midnight London for his 4 hour candles. You are using the 5:00 pm EST (10PM GMT) to sync your candles. Can you speak to this. Also what broker you use for spot. thanks The muppet man was Cloggie, many here will smile at the mention.
NY Rollover. On a daily basis it is the most important period. Without getting into an argument, yes there are many important times, but this time in my opinion is the most important. With that said in the grand scheme of things you can sync your candles to any hour if there is a reason behind it, if in fact you trade 4h charts.
Just finished legs day at the gym, first session back after the little bug that kept me indoors for the last 5 days. Going to skip boxing tonight as I can't feel the lower half of my body and get through some of the outstanding posts.

I came back to see NZDJPY and CADJPY took small hits, no big deal. NZDJPY still part of the impulsive wave up so will give it another go with an order.

A successful week to me is not necessarily a positive return week. A successful day/week/month to me is where the execution gap is zero. The execution gap is the number of setups available minus the number of those setups taken, I record it religiously. I prefer a negative week with a zero execution gap over a positive week with a positive execution gap. So far the gap is zero so all good. On to the questions.


Quoting MickaelFx
Hi all, Thanks for such a good thread Nv trader! It makes me feel Lucky today as I've joined for once at the beginning of a probable long thread I've read your historical trading activities on myfxbook and tried by my own to find the same entry and exit points. Here's the result for the EURAUD trade taken on the 3rd december. I suppose that you've looked for an entry on the 1h timeframe right ? I just can't explain myself how you've taken profits at 1.5153 and according to me the exit is by far the most important thing......
Dear MickaelFx, thank you for your kind words great to have you on board. The reason you may have been unable to find the EURAUD entry point is because your H4 close times are likely different to mine that's why you would spot it more easily if you drop to H1 as you suggest then the general shape of the waves will match universally. Also I suffered about 6 pips slippage on the entry. I may have misunderstood your question if that is not the case. It may alternatively be because you and I see the wave structure differently. I use a model to identify the wave structure, you will not be able to see it simply by looking at a chart. If I may quote from the methodology thread disclaimer. "It is unlikely you will even be able to understand a lot of the trades I have and will continue to be taking." The purpose is not to give you a working model as the engineering that brings the core basics to life is well beyond the scope of this thread.

Regarding the H1 versus H4 argument, in theory I could use the H1 and have done so in the past but my model uses the H4 information (OHLC) to approximate the H1. So technically I am using the H1 but it's through the H4 data. I just find it easier to do this as it suits my lifestyle of only checking every 4 hours. As a bonus it is also more profitable. Regarding the exit I will be giving a few words on exits after I close above 20%. I have made a note to revisit this EURAUD trade then for your benefit.

I understand what you are saying about the monthly candle and I was waiting for someone to pick it up, well spotted. Of course like you say sometimes the monthly will not have many weekly candles internally as it is early in the month. It's a small technicality you just take the last few weekly candles regardless, usually the last 4 which essentially is the same thing as looking at a "rolling monthly" candle. Technically it makes no difference if you take a rolling 4 week basis which is a month anyway. Hope I answered your questions if I misunderstood please contact me on Skype and we can chat over the weekend.


Quoting xandi
{quote} brilliant post!!! thanks many thanks for yout time explainning your zen approach trading!!! I enjoyed a lot reading, you are helping community..hope you the best and all sucess, happiness and sunshin life!! all the best bro, ill be here following and supporting on the good and bad moments! take careawsome work!!
Dear xandi, appreciate your kind words, great to have you on board.


Quoting seeit
Hi, A 20 year London trader , that use to call everyone "muppets" used midnight London for his 4 hour candles. You are using the 5:00 pm EST (10PM GMT) to sync your candles. Can you speak to this. Also what broker you use for spot. thanks The muppet man was Cloggie, many here will smile at the mention.
On the trading floor I was regularly called a lot worse including "you muppet" at least 7 times a day. Others include "you total lemon", "you utter pineapple", "shut up you fu##ing nonce" and my boss' personal favorite "how could you have made that decision you're just fu##ing useless". Manners and trading floor don't mix. I was told if I didn't like it I knew where the door was. It does get better as you get more senior because then they know if they push the wrong buttons you will simply go and work for another bank. There are only a few people in the world who do what you do so you are always in demand. To be honest I quite enjoyed the banter I gave as good as I got but some of the juniors quit and moved into significantly less lucrative career paths because they couldn't handle the abuse. I just saw it as part of the process. I think that's where my love for gym and boxing came from, I felt it earned me respect even if it was psychological. The banter only starts to become a problem when you start behaving like that at home. I sometimes felt like I was working with grown up children. Probably why most of my colleagues didn't last in a relationship more than a month.

Regarding the close as you rightly point out I use the 10 pm GMT close. Three reasons. Firstly 10 pm GMT is a brand new day in the spot markets. I have no idea who this guy Cloggie is but I find it totally bizarre he would use midnight, it's completely incorrect. The rollover/settlement takes place at 5pm EST, which is 10pm GMT. So at 22:01 GMT a new day has started all positions have the next value date. Secondly and most importantly the 10pm sync (i.e. 10pm, 2am, 6am, 10am, 2pm, 6pm) is more profitable than any other cut according to the work I carried out. Finally, less important but it also suits me to do my daily analysis at 10pm because waiting till midnight is cumbersome for my sleeping pattern. Although this is less important because if it was more profitable to do so then I would but it isn't. As a side note I have never in 5 years known a spot trader to be at his desk more than a few minutes after 5pm local time and that's in an emergency. They start earliest and leave earliest simple as that so 5pm EST is the cut off.

Regarding brokers I have used all the major bank players such as dbfx, citifx and barclays BARX platforms. Two years ago I tried Dukascopy SA since they started providing custodial banking services (bank license) as some of my friends recommended them and I have not looked back since. I think they are one of the best out there you would struggle to find better especially if you have a large account. Commissions are low for larger accounts, spreads are extremely tight for my pairs and I have never had issues with fills which is important for me especially as I use stop orders. Liquidity is also very deep as I understand they are using quite a handful of prime brokers. They also handle all my back office needs for my private clients so I never have to handle any money or get involved in admin (statements etc). Of course it's a competitive business and there are other good brokers out there no denying but I am very happy with them since I switched over two years ago not to mention their excellent platform.


Quoting garrye
i liked cloggie ,this thread is good so far and at least it is live ,no other trader aka strat, daddy bear or any of them so called gurus can do that, nice and refreshing nv
Thanks for the kind words. Great to have you on board.


Quoting skenobi
{quote} That you're still referring to Taleb's Dynamic Hedging as a "bible" on your desk even when you're no longer an institutional operator deserves my wonderment and respect. Salut! Interesting thread you have here. Subscribed!
Thanks for your support. Great to have you on board.


Quoting Jaquemate
Hello Nv_trader: From my humbly opinión i must say only three things about this thread and you. 1. Excellent thread. 2. Excellent trader. 3. Congratulations for Arsenal clasification in Champions League. R.Madrid is waiting for your team.... Kindest Regards.
Great post made me laugh. Thanks for your very kind words. Whoever we face we are going to be very lucky to get through. Even Athletico are very strong this year under Simeone. The way I look at though, if you want to win the UCL you have to beat the best eventually, there is no hiding so bring it on!


Quoting MickaelFx
{quote} Hi, Looks like he's using AAAFx as mentionned on myfxbook
I am using AAAfx for this experiment on FF for three main reasons. 1. I want to show that with a bog standard broker using MT4 it is possible to make gains. If I use Dukascopy the results would not be reflective of this because my fills and prices would be seriously better than what I am getting, you can check it for yourself I have had some terrible fills up to now but I am not complaining I want to show it is possible regardless.

Secondly I wanted to start a brand new account from scratch. Some thread starters will provide no explorer/myfxbook (the worst), then there are those that will provide an explorer but it's historical (better but still not great as they may have had 20 trading accounts and the one they post is the successful one). The hardest thing to do is start from 0% and then produce because then there is no hiding and no running simultaneous accounts so you can cheat. In any case I don't think myfxbook supports dukascopy/jforex.


Quoting revival_fx
{quote} nv_trader, I'm enjoying your thread. I'm still a newbie (less than 200 paper trades at this point) Good call on NZDJPY. I did Long NZDJPY last night EST for 50pips by this morning. I still have a long trade in. It's been going and going and going since August.
Thanks for the kind words. As I am a medium term trader the impulse was not that great for me today so I was happy to take the hit and try another day. Good job on your long term trade. Keep up the good work.

Quoting TantumVerum
{quote} NY Rollover. On a daily basis it is the most important period. Without getting into an argument, yes there are many important times, but this time in my opinion is the most important. With that said in the grand scheme of things you can sync your candles to any hour if there is a reason behind it, if in fact you trade 4h charts.
Exactly as mentioned in my reply to seeit. The rollover is at 5pm EST. According to the market 22:01 GMT is a new day. Thanks for the post and good to have you here.


Regards, NV
(skype: nv_trader, email: [email protected])

REAL LIVE ACCOUNT:

***http://www.myfxbook.com/members/nv_t...-trader/749457***
Analysis for Friday 13th December 2013

Good evening,

Based on Daily closes, possible:

a) Long NZDJPY (active h4 order)

Very quiet day tomorrow only NZDJPY for me if it triggers. Not unusual after such large impulses on the higher frames over the last fortnight. I do trade higher frame corrections but only once they go impulsive themselves (leg C). At the moment they are still in the early stages (leg A/B) so nothing for me hence the empty watchlist. Small hit on CADJPY/NZDJPY no biggie see post above referring to the execution gap.

Quick reply to forexvegan/mosah otherwise they will think I am ignoring them then I am off to bed.

Goodnight, NV
(skype: nv_trader, email: [email protected])

REAL LIVE ACCOUNT:

***http://www.myfxbook.com/members/nv_t...-trader/749457***
The Future

Quoting forexvegan
{quote} The only way you can reward me is by teaching us how to fish or let me know if you are going to have paid signals in due time. The only reason I like signals is to see if your thinking matches with mine. If so I am more confident in the trade. More than half the trades so far I don't take, not becuase I dont agree, but because I want to make sure I see what you are seeing on my end. Thanks again for the great thread. Looking forward to seeing more.
Quoting mosah
{quote} Hi forexvegan, Very well said. I share your point of view and I totally agree with you.
forexvegan/mosah, thanks for the notes appreciate it. I apologise for the delay but since your posts I have been inundated with emails and PMs asking me similar things such as if I am going to be providing some signal services/education services as you also allude to and I wanted to consider my response.

As I have said quite honestly from the start, learning this market structure approach takes a lot of time, years even. It is not the only way to make returns but as it is the only way I know of I am not really going to fool anyone into some quick teaching services so education is out of the question not to mention that I simply don't have the time to teach someone financial engineering. Regarding paid email/signal services here is my problem.


In line with everything on the thread I am going to be totally transparent about my current setup. I have a fully licensed management program through Dukascopy SA (see reply to seeit for more info on them). Now I prefer to use a bank as they provide custodial banking services anyway so I much prefer them to hold my investor's funds and they also do all the administration such as client statements and pooling. I prefer to stay completely segregated from client funds for obvious reasons. I simply have a limited PoA to trade the funds. They call it a PAMM for some reason but I prefer to call it a complete back office solution.

Now because Dukascopy have a banking licence not to mention all the banking/financial regulations that come with these type of operations I had to go through 3/4 months of domestic vetting processes to get the approvals two years ago. This included background checks on my relevant trading employment history, checks on my trading statements and also personal checks.


The reason I am telling you all this is because it was such a headache to get it that I have since then decided I am never going to do anything outside of what the licence allows me to do. I really don't want to jeopardise my position by starting independent signal services, email services, EA copy accounts, social trading or any of the other services. I want to stay 100% professional and the setup I currently have allows me to do that. It would be foolish of me to venture outside of that as I really have no need to. Not to mention that it would probably pi##s off some of my investors.

My biggest issue with taking on more clients at this stage is not necessarily size of account because it's all pooled anyway. The biggest issue for me is granularising my existing client relationships because it starts to become tedious dealing with so many different personalities added into the mix. Now it was not my intention to even discuss these matters at this stage but as I have had so many queries about it I will say the same thing to you both and anyone else that I have said to all the dozens of emails and PMs I have received on the topic. I am happy to enter dialogue on these things of course but I am planning to be here for some time (20% + target set yesterday) and once the trading history becomes a little more comprehensive and I have had a little bit of time to think things through properly perhaps that is the best time for all parties to decide whether to go our separate ways or not. Any further questions just skype or email me. Again apologies for the delay in replying.

Goodnight, NV
(skype: nv_trader, email: [email protected])

REAL LIVE ACCOUNT:

***http://www.myfxbook.com/members/nv_t...ader/749457***
Quoting nv_trader
On the trading floor I was regularly called a lot worse including "you muppet" at least 7 times a day. Others include "you total lemon", "you utter pineapple", "shut up you fu##ing nonce" and my boss' personal favorite "how could you have made that decision you're just fu##ing useless". Manners and trading floor don't mix. I was told if I didn't like it I knew where the door was. It does get better as you get more senior because then they know if they push the wrong buttons you will simply go and work for another bank. There are only a few people...
All that said, definately this business is dying. Mainly all the flow is running thru the machines. Just need few headcount there to manage the risk. But I wouldnt call them traders directly, more like doctors of physics of the machine. Wouldnt you agree?

Mainly sales people making a cucumber cum.
Hi NV

Lots of sense in your thread and enjoying very much.although haven't finished the last few pages.so excuse me for my question if you have already discussed within the last few pages

what are the benefits and negatives you've found from trading retail against institution.
I know you have talked in generall about retail and institution but any thing specific which is particularly advantageous or equally harsh
thanks in advance

Chelsea will still be your demon

Regards

Dice
Analysis for Monday 16th December 2013

Good afternoon,

Based on Daily closes, possible:

a) Long EURAUD
b) Long GBPJPY
c) Short AUDJPY
d) Long CADJPY
e) Long NZDJPY (active h4 trade, SL to be managed)

Most of those listed above are still in the early stages as the h4 is still correcting. Just holding NZDJPY let's see where it opens later tonight. Will answer the above posts a little later.

Regards, NV
(skype: nv_trader, email: [email protected])

REAL LIVE ACCOUNT:

***http://www.myfxbook.com/members/nv_t...-trader/749457***
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