trading consultant?

[marc26]

im just looking for some feedback. i am starting a job in consulting job in a2 weeks. i was a trader for a major us trading firm. im am going to be consulting a big firm in canada on starting a trading desk. after the job is complete i will head back to phuket and may look to do more consulting, maybe in asia with big firms. but it got me wondering. i know that some of you guys have said you were going to move to thailand and start day trading on your own. would you guys that do trade be interested in consulting services. i am sure that you guys are very knowlegable but there are insights i think i could offer that daytraders do not know. i was just wondering. thanks

[LivinLOS]

Selling services needs a track record IMHO...

I am actually thinking of starting spread betting the index's just for a laugh.. Very very high leverage and very high risk but just doing it with some pocket money to keep me sharp, also requires no expensive data feeds or services..

[marc26]

Originally Posted by LivinLOS

Selling services needs a track record IMHO...

I am actually thinking of starting spread betting the index's just for a laugh.. Very very high leverage and very high risk but just doing it with some pocket money to keep me sharp, also requires no expensive data feeds or services..

i think i have the track record. 11 years on wall street. my 1st job being on the floor. about to help a big financial services firm start their trading desk. and you just said exactly what i can help people with. ive talked to you, and you defintely know the markets, but theres littgle things that go on with trading stocks that people that havent been a market maker have no clue about. i am sure that some of these guys who day trade can pick stocks better than me, but i can give insight on the little details. i believe that day traders are really stock pickers, not traders. i can more or less help people think more like a trader. like i said, im just wondering if there is a market out there for that type of service

[slimbag]

Hope you got loaded on some BIDU on friday, must have been one of the easiest trades in a long time

[LivinLOS]

When I say track record I mean a portfolio of holdings with a history of picks and return over a time period..

That way can lead to money under management and thats big $$$

[AHappyWanderer]

Originally Posted by marc26

... but theres little things that go on with trading stocks that people that havent been a market maker have no clue about. I am sure that some of these guys who day trade can pick stocks better than me, but i can give insight on the little details. i believe that day traders are really stock pickers, not traders. i can more or less help people think more like a trader. like i said, im just wondering if there is a market out there for that type of service

There is definately a market for the information you have / will be providing, but in all honestly, and as someone who has been in (IT) consulting for 12 years, I don't see this as the basis for a consulting service.

(It's nothing to do with you; it's to do with the nature of what you are offering. What you are offering is essesntially "Tricks and Tips and life lessons", and the usual (i.e. proven) way to make money out of "tricks and tips" is either via delivering seminars, or writing, or both).

What you have is the basis for a book... and, if your information really does help people make money, then a potentially very successful book too. Have you thought of taking six months out to write a book (maybe living in Phucket whilst you are writing it? :-) ).

[Sirgezza]

Originally Posted by dizbusta

I've had account with the 4 major firms in the UK for 5+ years now and used to be an FX trader in the city. It can be fun and there are definitely "opportunities" if you look hard enough.

Good luck
Diz

Dizbusta here ''I'll have £5:00 eachway on ICI''

[marc26]

Originally Posted by AHappyWanderer

There is definately a market for the information you have / will be providing, but in all honestly, and as someone who has been in (IT) consulting for 12 years, I don't see this as the basis for a consulting service.

(It's nothing to do with you; it's to do with the nature of what you are offering. What you are offering is essesntially "Tricks and Tips and life lessons", and the usual (i.e. proven) way to make money out of "tricks and tips" is either via delivering seminars, or writing, or both).

What you have is the basis for a book... and, if your information really does help people make money, then a potentially very successful book too. Have you thought of taking six months out to write a book (maybe living in Phucket whilst you are writing it? :-) ).

i understand what you were saying but its not an insider type thing i am consulting. like i said i think i could teach someone that is a greta stock picker to have more of a micro view of trading the stocks. i dont know if my professional consulting can translate into consulting individual;s, maybe i will have to stick to bigger firms. that was my only reason for this post. just to see if there woukld be interest

[Izzy]

Originally Posted by dizbusta

How quaint - by "opportunities" I mean there is "daylight" (traders term) between prices given by different companies, e.g. one company might be pricing the 6 month FTSE at 4990/4993, whilst another goes 4995/4998, therefore there is "daylight" between the 4993 offer and the 4995 bid, thus being an "opportunity".

Cheers
Diz

I think the more popular term for that is arbitrage, it can be nearly impossible for small traders in the US competeing against big firms and their computers..as soon as an oppertunity arrises triggers fire and bang it disapears quick.

Must admit id be interested in some form of consultation just to hear from someone whos worked on the floor etc, although im not a day trader 99% of the time im holding for days/couple of weeks, so not really sure i would pay enough compared to a major firm to really make formal consultation worthwhile on an individual basis. Im no W.Buffet but do well enough to live off of trading. I tend to keep my leverage from 2:1 for stocks upto 5 or 10:1 on currencies & gold depending on risk:reward and my confidencee in the trade.

[LivinLOS]

I think the more popular term for that is arbitrage, it can be nearly impossible for small traders in the US competeing against big firms and their computers..as soon as an oppertunity arrises triggers fire and bang it disapears quick.

It actually happens on the betting exchanges fairly often.. Punter 2 punter betting has opportunities that bokkies would not allow to happen..

I ssume as betting exchanges become more common the bookies / hosts computer will detect these opportiunities and take advantage of them automatically..

[Izzy]

Originally Posted by slimbag

Hope you got loaded on some BIDU on friday, must have been one of the easiest trades in a long time

I know a few people who made anything from 3K to several 100k USD on friday trading BIDU, some mad swings in it though must have cost some people dearly.
Only 4.5 Million shares issued, but 22Million+ shares traded so the shares were bought/sold 5 times their float!

[Izzy]

Originally Posted by LivinLOS

It actually happens on the betting exchanges fairly often.. Punter 2 punter betting has opportunities that bokkies would not allow to happen..

I ssume as betting exchanges become more common the bookies / hosts computer will detect these opportiunities and take advantage of them automatically..

Ah, not looked into those exchanges before, for sure arbing is great if you can take advantage of it.

[marc26]

Originally Posted by Izeickl

I think the more popular term for that is arbitrage, it can be nearly impossible for small traders in the US competeing against big firms and their computers..as soon as an oppertunity arrises triggers fire and bang it disapears quick.

Must admit id be interested in some form of consultation just to hear from someone whos worked on the floor etc, although im not a day trader 99% of the time im holding for days/couple of weeks, so not really sure i would pay enough compared to a major firm to really make formal consultation worthwhile on an individual basis. Im no W.Buffet but do well enough to live off of trading. I tend to keep my leverage from 2:1 for stocks upto 5 or 10:1 on currencies & gold depending on risk:reward and my confidencee in the trade.

well, see thats what im kind of looking for. i would likr to have a few corparate jobs a year that will pay me alot, then have the flexibility consulting individuals, knowing that the pay will not be the same. i am not bragginbg but the job i am doing for 2 months in canada will pay for my whole year, plus a 5 star hotel and living expenses. but eventually i dont want to be tied down to a 930-4pm office. thats my ultimate goal

[LivinLOS]

Originally Posted by dizbusta

Yes, there are even sites now that specialize in looking for these arbitrage (I call them daylight) opportunities, both in financial and sports markets.

http://www.sports-arbitrage.com/

http://www.financial-spread-betting....ad-trader.html

Diz

Have you ever subscribed to any of these services Diz ??? I met a fella living out here who was doing sports spreads full time and seemed to be doing ok out of it.. He also gambled full time very carefully but the spreads interst me as they are certs..

It had always been the manual scouring of the exchanges that seemed the only difficulty but with these alert subscription services I wonder if it just doesnt seem too easy..

[LivinLOS]

Spread betting the FTSE seems pretty direct and simple enough.. also stop losses can be set so theres no infinite loss situations..

I do have lots of time on my hands and am interested in these info services.. http://www.arbwinner.com for example looks like an interesting system.. The min amount for each of the top 30 or 40 even at 100 Euros in each account still needs 3 - 4k in the bank prior to taking bets.. However its an interesting diversion and being able to pull in a bit each month (given that I am not busy and so its not distracting a full time job) is making me more curious..

[LivinLOS]

Agreed and understood

Originally Posted by dizbusta

if everyone sells at 4994, but nobody buys, then the price goes down

Good luck
Diz

Though where the FTSE is concerned I would think theres a lot more money at play than a few punters opinions on how it would effect the market.. Maybee I missunderstood, and you mean the bookies would change thier opinion or spread range slightly (like adaptive odds all bookies seem to play these days) rather than the market its following moving ??

I think once family go I will commit a little to this and see how it goes simply as a way of getting me back into following the markets more closely. This last year / 6 months I have started to become a bit disconnected from the financials.

[LivinLOS]

Somehow one of your posts up there slipped past me..

That goal strategy is interesting.. It wouldnt be for me as I somehow dont have single cell in my body interested in football but I do like the way he covers himself when / if a goal comes.. minor downside and maximise his upside.. I would feel that an unequal portion of goals happen there but i have no experience how the odds get handled during that stage...

FTSE spreads appeal for hobby reasons and I am getting more and more curious about the arbs alerts services.. The one I linked claims multiple arbs per day even if they are for small %'s.. Even if your turning a few % a day it becomes one hell of a return over a short time.. Plenty of time on my hands.. A feel for the probability and maths.. I think it could be a fit of fun too..

Could you let me know which are the 'big 4' you mention of FTSE spreads ??

[JayBee]

Originally Posted by marc26

im just looking for some feedback. i am starting a job in consulting job in a2 weeks. i was a trader for a major us trading firm. im am going to be consulting a big firm in canada on starting a trading desk. after the job is complete i will head back to phuket and may look to do more consulting, maybe in asia with big firms. but it got me wondering. i know that some of you guys have said you were going to move to thailand and start day trading on your own. would you guys that do trade be interested in consulting services. i am sure that you guys are very knowlegable but there are insights i think i could offer that daytraders do not know. i was just wondering. thanks

Hi, Paul. Have you tought about doing some daytrading yourself? Lots of $$$ there, if you are successful.

[marc26]

Originally Posted by JayBee

Hi, Paul. Have you tought about doing some daytrading yourself? Lots of $$$ there, if you are successful.

to be honest jaybee, i have no desire to. i have been trading my own account more frequently snce i have not been working, but have no real desire to daytrade.

[marc26]

isn't fantastic when your thread gets completely hijacked.

[Sirgezza]

Originally Posted by marc26

isn't fantastic when your thread gets completely hijacked.

''Any publicity is good publicity''

The way Diz is going HE is the one who get a job as a betting/trading consultant. I find his explanations and illustrations fascinating, takes a bit of reading and I'm still not sure I understand them, but I'll re-read them until I do.

[marc26]

diz,
totally busting balls. i actually have enjoyed reading the posts.