[keymoo]

Hi there,

Just found your forum this week. I must say thanks for a very well-designed and polished site. Lots of hours of work gone into that, well done.

About me
I worked for banks in London for 10 years developing and supporting trading systems. We're talking about the big boys here. I want to learn to trade for myself now after working for those guys for so long. I've learnt a lot from this site already, thanks a lot!

keymoo

[MrPaul]

Originally Posted by keymoo »

Hi there,

Just found your forum this week. I must say thanks for a very well-designed and polished site. Lots of hours of work gone into that, well done.

About me
I worked for banks in London for 10 years developing and supporting trading systems. We're talking about the big boys here. I want to learn to trade for myself now after working for those guys for so long. I've learnt a lot from this site already, thanks a lot!

Welcome to the forums keymoo!

sry if your post reads at the bottom " Last edited by MrPaul : Today at 02:28 PM." I hit edit instead of quote...

[Soultrader]

Hi keymoo,

Welcome aboard. Very interesting background you have with trading systems. So are you trying to learn a discretionary approach to trading? Or do you plan to trade a system?

Soultrader

[keymoo]

I know that most systems don't work, so if I use a system it will be something I have grown myself using ideas from other people blended with my own. I'd like to use a system to guide me to entries and exits but also use some discretion too. I have paper traded 3 or 4 systems and none of them have worked very well at all, on paper, so on a live account I'm sure they'd be a disaster.

Favourite markets for me are the ER2 and ES, also forex, but I only trade forex on news releases. Forex seems a bit dirty to me with all the bucket shop brokers and I try and keep away from it, however news trading is so much fun that I can't resist it.

[torero]

Hi keymoo and welcome aboard!

If you look around you'll find the right forex brokers now. Markets are changing, check out MBTrading, EFX and oanda sites and google non-dealing desk brokers should get you started on your search for the right broker.

Great background and very interested in asking you the BIG question: did the systems the big boys have worked and lasted as long as they expected to? Are they are complex as us outsiders rumor them to be?

[keymoo]

Thanks.

If you saw what the big boys do you would panic. They have ARMIES of IT people, economists, strategists, analysts, etc, building systems, data modeling, etc, the works. A few systems I worked on cost the banks 10s of millions of dollars to develop.

That's how serious they are. You better make sure you do your research, lol!

[torero]

That's great to see all these people employed, but the final result is what? measly 10% annual return? And the rest of their income in from bank fees? I'm not saying I'm a great system developer, just a simple trader who still has mountains of things to learn, but I find it hard to believe an institution can rake in beyond 20% consistently based on systems. Bruce Kovner's hedge fund is one I know has been doing well except this and last year. Are systems as complex as these can still bring in superior return? That's the question that piques my curiosity.

[torero]

I see you're up early for the forex market too eh?