Day Trading Stocks & Futures

mohan.sic

Well-Known Member
I do not know which institutions you are referring to. But my work experience in that field was in Salomon Smith Barney. CFAs are highly valued in mutual funds and prop desks managed by very large banks. I have friends working with JP Morgan, with whom I shared CFA notes. I quit CFA myself as I relocated and changed fields. It depends on the type of institution that you are looking at. I was once interviewed by a small Wall Street firm. I neither liked the interview with them nor their manager's mindset. I realised that there are many chop shops on the Wall Street. I did not join.

For trading on your own, you neither need a CFA nor a MBA. Some small prop desks work with you even if you are not a college graduate. But with large Wall Street firms, it does not work without strong education credentials in that field.
Mutual funds are not traders. Also it's not clear what the small wall street firm does. Professional Trading firms or Banking trading desks are huge.
They don't do mutual funds or investment. Neither Elliot waves or moving averages.


Please refer to the post i replied to sidhant bhai on what I'm saying. Thanks.
 
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sridhga

Well-Known Member
Mutual funds are not traders. Also it's not clear what the small wall street firm does. Professional Trading firms or Banking trading desks are huge.
They don't do mutual funds or investment. Neither Elliot waves or moving averages.


Plead refer to the post i replied to sidhant bhai on what I'm saying. Thanks.

A large banking organisation handles both client funds as well as own funds. They do trade a lot. But they have clear demarcation between the two to remove conflicts and they call that line as the Chinese Wall. They have research teams that put out research reports every day and they have traders. They have managers who handle client funds. They are also underwriters in some cases. They also handle M&A advisory. They help governments sell debt into the markets. Some examples of such firms are Goldman Sachs, JP Morgan Chase, SSB (Currently operates under Citigroup).
SSB is also a mutual fund. I believe that is the case even today.. They have own trading desks in NY, London and Tokyo.
At the turn of the century, the funds managed by each of such large banks were as big as India's GDP. Today India's GDP has multiplied and Citigroup almost went bankrupt in between.Several other banks went down as well. So today it is a different scenario. There are many such banks. The underlying professional knowledge is the same. Regulator is the same. They work under a single corporate structure with different divisions.
 
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Subhadip

Well-Known Member
Hi
I am completelly agree with Sanju Bro
Nowadays ,I dont write any post in traderji.But now I couldnt stop myself from giving my view.
a)I have been observing this for a long time..Some or other member criticize,demotivate the person who shares some knowledge here.Those critique doesnot contribute anything but just try to leg pull whenever they could.
b) Due to this negativity, many traders who are good teachers too, left this forum & even now dont participate much.Its loss of new members .Its demotivate the purpose of this forum.
c) saying that the person who teach is a looser. is very ridiculus thing to say.If anybody doesnot want to learn, its up to them.dont learn.But STOP SAYING ANYTHING TO PERSON WHO TEACH.as this is the motive of this forum.
d) Sanju bro & Primitive trader Sir was posting very useful material for intraday.Its very useful & informative.We dont get real traders in real life.So we come here to learn from real traders.
e) there are so many good traders who are generous also who are sharing their real knowledge & experience here.If anybody intrested, go to posts of ST Da ,Saint sir, RJSHEM Sir, Shubhadip, pratap,raghav ,vikas & so many others.Those posts are like gems.You have not got that practical &real knowledge in any book & course.I have learnt a lot from them.Now the traders who get benefited from this forum, they also want to share ,so they can help others.TO, baki sabkey pet main dard kyon ho raha hai.
f) Market is continuous learning process.Even profitable & experienced trader also learn from other trader's experience.Mature traders can also learn from fello traders posts.
g) The trader who nows basic premise of market knows very well which trader is real trader & which never does trade.Even real traders know which trader must be loosing & which one is profiting because their posts & stuff which they post are proof of their knowledge.they dont need to show their ledger & IT returns.
h) markets humble them who have pride.Even after being, profitable trader , one should not stop learning.Dont think that the person who is learning is loser &who is teaching is Looser.Profitable trader can learn also & teach also.Its just exchange of ideas.

I dont write here nowadays.I never post in market time also.But I have been observing this that some people are always discourage people who are trying to teach.Its not good for this forum.
I request to forum member , that we should discourage those people who are against the motive of forum which is sharing, learning & teaching.

I learn a lot from Sanju Bro & Primitive trader Sir posts & other members post.I request Sir to Sanju Bro & primitive trader all the members please dont stop posting & sharing your knowledge due to some unsolicited comments.
keep sharing & keep learning
Thanks
Thanks for mentioning my name....Thanks...
 

mohan.sic

Well-Known Member
A large banking organisation handles both client funds as well as own funds. They do trade a lot. But they have clear demarcation between the two to remove conflicts and they call that line as the Chinese Wall. They have research teams that put out research reports every day and they have traders. They have managers who handle client funds. They are also underwriters in some cases. They also handle M&A advisory. They help governments sell debt into the markets. Some examples of such firms are Goldman Sachs, JP Morgan Chase, SSB (Currently operates under Citigroup).
SSB is also a mutual fund. I believe that is the case even today.. They have own trading desks in NY, London and Tokyo.
At the turn of the century, the funds managed by each of such large banks were as big as India's GDP. Today India's GDP has multiplied and Citigroup almost went bankrupt in between.Several other banks went down as well. So today it is a different scenario. There are many such banks. The underlying professional knowledge is the same. Regulator is the same. They work under a single corporate structure with different divisions.
Ofcourse a bank can be into all this. But I dont understand what you are trying to convey in all this info. Did i say that banks do do all this ? I just said what kind of people are usually employed as TRADERS - like math guys. And who are not preferred as TRADERS like CFA's. Thats a smiple point.

yes trading desks have teams of Analysts and Traders .. And I am making a point on those traders who trade mid- high frequency in specific instruments ( be it a pair, int rate or a metal or forex) assigned to them within the risk parameters defined to them. These traders dont do research. They dont need a CFA for this. They just take inputs from repots/updates from analysts. They need high speed cpu like brains. Their jobs demand calculating power and speed. Professional prop firms or even banks with prop desks usually prefer Young and dynamic Math and tech guys for these jobs. Not financial analysts.

And when we say a 'Trading desk' its usually the kind of trading i referred above. Investing clients funds, mutual funds all this is broadly into investment banking. But when we are specific on TRADERS, its usually prop trading.

And may be you can check with some trading desk for their Traders - Age limits and preferred degrees.
 

mohan.sic

Well-Known Member
Somebody please tell how can we interpret OI. I was analyzing like if OI is going up means more options are writing (Big boys are interested in that) and price may go opposite direction.
Ye that interpretation is good and has an edge. But does it fail ? Ofcourse it fails. Because here no concept is science. These are assumptions and interpretations. So when they fail, Your SL hits and we have to live it. No point is analyzing why it fails. What is important is, does it have any overall edge over large number of trades.
Romeo is positing on OI changes. I think those charts can hep you if you are looking for OI method.
 
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Anyone using angel broking??
They were putting some unknown unexplained charges and were showing my balance as negative..when I redeemed the MF they deducted the same from the MF money..
They are neither picking the phone and nor replying on email..
 

travi

Well-Known Member
another indicator to start investing in HDFC Bank.

Retailers are now selling off hdfc bank and investing in Yes Bank :p

On a lighter note, can you screen for a stock that deals " edited by me as it can be avoidable " ? :DD

I personally keep adding hdfcbank when i can, also kotakbank. I've tried my hand in yesbank at inr. 13 for the first time :)
 
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