October 2012
Intermediate to advanced
155 pages
4h 32m
English
book
The Prop Trader's Chronicles: Short-Term Proprietary Trading Strategies for Both Bull and Bear Markets
by Francis James Chan
Content preview from The Prop Trader's Chronicles: Short-Term Proprietary Trading Strategies for Both Bull and Bear Markets
Become an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month,
O’Reilly covers everything we've got, with content to help us build a world-class technology community, upgrade the capabilities and competencies of our teams, and improve overall team performance as well as their engagement.I wanted to learn C and C++, but it didn't click for me until I picked up an O'Reilly book. When I went on the O’Reilly platform, I was astonished to find all the books there, plus live events and sandboxes so you could play around with the technology.I’ve been on the O’Reilly platform for more than eight years. I use a couple of learning platforms, but I'm on O'Reilly more than anybody else. When you're there, you start learning. I'm never disappointed.I'm always learning. So when I got on to O'Reilly, I was like a kid in a candy store. There are playlists. There are answers. There's on-demand training. It's worth its weight in gold, in terms of what it allows me to do.
CHAPTER 14
Building Blocks of Trading Strategies
Since I returned to Toronto, the cutthroat competition between the proprietary trading firms in Canada's financial capital has actually created one of the most competitive environments for traders to shop for optimal trading conditions. Commission rates as low as 20 cents per 1,000 shares traded (0.0002 USD per share) with full ECN rebate pass-through have become a common offer for experienced traders among the Toronto-based firms.
I've since focused on a combination of stat arb strategies and have dedicated a fair amount of my time outside of market hours to learning the basics of a number of programming languages including VBA (Visual Basic for Applications, an Excel-specific variation of Visual Basic), C++, C#, and others that can be used for semi-automated strategies on many of the direct access trading platforms offered by firms today. Even with all these tools, the basic concepts of tape reading will always continue to be an integral part of entering and exiting trades, whether the logic is programmed into the automation or it comprises the manual aspect of a semi-automated strategy.
How you decide to apply tape reading is entirely your choice. It's not a single strategy. It's a way of looking at the markets in real time, 100 percent live, as an alternative to staring at charts, which can only show the recent past.
While I'm sure many readers would expect or prefer to see a single strategy described in exhausting detail, I ...
Become an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month,
and much more.
Read now
Unlock full access
More than 5,000 organizations count on O’Reilly
O’Reilly covers everything we've got, with content to help us build a world-class technology community, upgrade the capabilities and competencies of our teams, and improve overall team performance as well as their engagement.Julian F.
I wanted to learn C and C++, but it didn't click for me until I picked up an O'Reilly book. When I went on the O’Reilly platform, I was astonished to find all the books there, plus live events and sandboxes so you could play around with the technology.Addison B.
I’ve been on the O’Reilly platform for more than eight years. I use a couple of learning platforms, but I'm on O'Reilly more than anybody else. When you're there, you start learning. I'm never disappointed.Amir M.
I'm always learning. So when I got on to O'Reilly, I was like a kid in a candy store. There are playlists. There are answers. There's on-demand training. It's worth its weight in gold, in terms of what it allows me to do.