How long did it take you to make $50/day?
- Thread starter theNOTO
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Juicify, I enjoy my job so im not in a hurry to quit, and it still pays more than I make from this stuff. The only thing I dont like about it is the structured hours. If I can get to $500 a day I may strongly consider quiting but based on my current limited hours that probably won't happen anytime soon. I wish I could do like engaged and get my online businesses more automated and just let them make money but I find if I neglect them for very long my bottom line suffers.
Sorry I can't disclose that unless you can provide me with documentation that you are a qualified purchaser. Which is defined by the sec as follows.
- Any natural person who owns $5,000,000 or more in net investments;
- Any person, acting for his own account or for the accounts of other qualified purchasers who, in the aggregate, owns and invests on a discretionary basis, not less than $25,000,000 in net investments;
- Any family-owned organization or entity that owns $5,000,000 or more in net investments; and
- Any trust that was not formed for the specific purpose of acquiring the securities offered, as to which each trustee and person who contributed assets to the trust meets the requirements under (1),(2) or (3) above.
100% calling BS on tangem2. First off, most trading is done by computers now, especially at hedge funds. Second off, saying he can't disclose the fund is BS. I have family friends (and a member) who were/are in the HF business and there is no problem saying who you work for.
Third, someone from Miami of Ohio doesn't work at a hedge fund without SERIOUS connections. It's hard enough getting to a HF out of UG from Harvard. I only know 1 person who made it to a HF out of undergrad who works at D.E. Shaw. He placed high in the math olympiad while at Harvard.
Try your BS somewhere else buddy.
Third, someone from Miami of Ohio doesn't work at a hedge fund without SERIOUS connections. It's hard enough getting to a HF out of UG from Harvard. I only know 1 person who made it to a HF out of undergrad who works at D.E. Shaw. He placed high in the math olympiad while at Harvard.
Try your BS somewhere else buddy.
Sorry engaged but im not BSing you, I used to work on the floor of the CBOE. I now work for a small fund that runs a little under 250,000,000 doing option volatility arbitrage. You are correct though that it is hard to get into a hedge fund but it really helps when you know the guy running it. You are also correct that most of the trading is black box now but in illiquid options markets its still done by guys like me.
Ok Zach, my research suggests you do work for a HF doing options. May have jumped the gun. Still, you are certainly allowed to release the name of the firm, you don't need to give the qualified investor crap. You can say it is the firm's policy not to disclose its employer.
Congrats on nailing a very coveted job, I'm sure you're making some nice bank.
Congrats on nailing a very coveted job, I'm sure you're making some nice bank.
stanley said:
Most HF will most likely be based on a computer model derived from some of the super math/com sci/etc geeks who come up with it. I am guessing it is tangem2's job to get in to a position at a certain price and since they will be buying in HUGE amounts, making sure their position minimizes the effect on the price.
We dont trade directionally we trade option volatility. For example, you buy a call on XYZ cause they are having an FDA announcement in a week and you think it is going to be positive news this raises the implied volatility level of the option so we sell the option and trade the stock against keeping a delta neutral position. When the news comes out the implied volaility will resort to the mean and we will take the profit from gamma trading the stock and the mean reversion profit from the option.
exactly and we call the math geeks quants. They come up with our model for what the mean level should be for the option implied volatility level and then it is our job to get the positions on. The computers thinks in terms of a perfect world, they say put on 100 spreads and think u just hit a button and its done but markets move so we do our best to meet the computer model.
To be honest most of the time its a pretty boring job where I surf the interent most days. But when things get busy it goes crazy. When the computer starts pumping out signals they all go off at once and thats what I love.
To be honest most of the time its a pretty boring job where I surf the interent most days. But when things get busy it goes crazy. When the computer starts pumping out signals they all go off at once and thats what I love.
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