So I come with some useful baggage, mainly a working knowledge of a good few arbitrage algorithms that make money, I know their variance, revenues and profit margins for a long period of time and how to implement them.
I'm also looking for entry level roles in prop firms. What's the best way to get this across to these companies. I can guarantee making $500k in a year minimum at minimal risk on top of anything else that turns up, but how the hell do I convince these companies that I'm legit.
To disprove any doubters, I've seen these strategies in action for months on end, and I know pretty much everything about them. Assume I'm telling the truth in this, please/
Regards
T
lol...why dont you trade on your own account if you have these fancy algos?
Hi trazer985, We messaged a lil while ago, so I know a little bit about you.
Why dont you ask for info interviews and then tell them your strategy in person. I think this would work better because a. when they see your age they will automatically trust your more, and b. because people dont seem as crazy in person when they wear a normal suit and speak normally. You can come across any way you want in person.
I sent you a PM
"I can guarantee making $500k in a year minimum at minimal risk on top of anything else that turns up, but how the hell do I convince these companies that I'm legit. "
The second you say you can guarantee you will make money is the second you won't get hired.
Only an idiot thinks they can guarantee that they'll make money. You can't even guarantee that you'll be alive tomorrow. If you can't identify what your risks are, then you certainly don't know what you are doing.
"To disprove any doubters, I've seen these strategies in action for months on end, and I know pretty much everything about them."
LOL!!! You've seen them MONTHS on end? You know pretty much EVERYTHING about them? What a joke you are. If you want a successful trading career, months is a drop in the bucket and you don't know everything about them. In fact, you have no clue how they will react during the next black swan or whatever changes the market holds for us. Also not sure if you came across this in your research, but the lifespan of most algorithms is pretty short.
"lol...why dont you trade on your own account if you have these fancy algos?"
Maybe he doesn't have enoguh capital... or maybe he doesn't want to risk his own capital (since he certainly can't guarantee a profit). OPM = Other People's Money. Think about those three letters and what it means for a trader. Meanwhile, I'll think about who had the more retarded post: you or the OP.
I dont have enough capital to run these, nor could I get it, buy the infrastructure required for low latency trading, and do all the operational stuff that goes along with just existing as a trading company, alone, nor could I receive any training or experience should I do this. I would happily risk my own capital, hell I'd work for fucking free. Maybe you dont quite understand how automated arbitrage works, in which case I'll excuse your naivety when I say I can guarantee making money. If an opportunity doesnt show up, it doesnt trade, thats the worst case scenario.
I helped take one of these algos from 1 exchange to 8 exchanges, they scale up, sure people compete and they evolve but it's not hard to evolve them. I'm not saying I will make 500k minimum per year for the rest of my life. These things always will have a lifespan of slightly longer than a few months., but agreed not measured in years
This is why I am looking for entry level roles, I feel if it comes to a choice between 2 candidates, someone that can bring something profit generative,even if these run for only 2-3 months I pay for my own salary instantly, so I'm less of a risk.
For someone that professes to know a lot about trading, you sure assume a lot. Go back to being angry elsewhere please.
The way you present yourself here lends me to believe you have a chip on your shoulder that will be counterproductive when talking to potential employers. No one wants to work with (or hire) loud-mouth, know-it-all people. Especially if you're junior.
lbreitst is right about the word "guarantee". You don't want to sound like a Ponzi schemer. Look into more reasonable ways to say what you're trying to say, like "attractive risk-reward" or "proven market opportunity".
Also, $500k revenue doesn't go very far when you have to pay for a low-latency system, ops, data, etc.
does your algo use recursion?
No it does not use recursion, there are 3 of them and they scan the markets for arbitrage opportunities and transact them in short amounts of time (close the position same day). Doesn't require ultra low latency, just something vaguely respectable.
I just feel that such strategies have to be worth something to an application, but I'm unsure how to present them, and its very frustrating to have something dismissed as untrue when it's actually true.
I'm not trying to say it's the be all and end all, but I just wanted a way of presenting it as a bonus to hiring me.
Simply put, apply to entry level roles and feature it in your cover letter, resume, and interview. Especially for entry roles they want someone who is open-minded to their training so don't come across as too set in the ways of your algo arb strAt.
Especially if you provide some results of your algo you should be an easy sell once you get in the room. If your problem has been getting in the room, network.
Why don't you apply at shops that are specifically looking for guys with algo's? In your situation the shop doesn't matter. You just need a desk somewhere that will allow for you to build a consistent track record. To be honest Optiver, Belvedere, FNYS, Peak 6, Jane St. and whatever other floor you THINK is hot doesn't give a damn about your algo, they are already making money and you are a unknown. Make money at a small shop... then shop it. I'm pretty sure WSO's job board has listings for this exact position.. you can also try here http://www.advancedtrading.com/ and search the site for their job listings.
Good Luck!
How much capital do you have and are willing to put up? There are plenty of places in Chicago that will provide you with infrastructure/leverage if you have skin in the game.
nothing is guarantee except your eventual death.
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