Registered Members Login:
   
Forgotten Your Details? Click Here To Recover +
Welcome To The ShareCafe Community - Talk Shares And Take Stock With Smart Investors - New Here? Click To Register >

4 Pages (Click to Jump) V   1 2 3 4 >   
 
  
Reply to this topic

Million Dollar Traders, Eight ordinary people are given a million dollars and told to trade it
maxwellreid
post Posted: Dec 3 2009, 04:53 PM
  Quote Post


Posts: 111
Thanks: 23


In Reply To: maxwellreid's post @ Jun 18 2009, 07:34 AM

the tax breaks that support the London financial system are under threat. The govt would love to hammer them, but they know they can't. The hedge funds are mobile and will transfer to better climes. Meanwhile the populace want some banker blood. Taxing the bankers sound such a good idea, Tobin tax, houses over 1m or 2m. Won't work, unless you want the powerhouse of the UK to leave. Crazy if they do, or is that just democracy at work.



--------------------
"A man lives a life shorter than a hundred years but worries a worry a thousand years long"
 
arty
post Posted: Nov 5 2009, 11:09 PM
  Quote Post


Posts: 13,078
Thanks: 3381


In Reply To: jr007's post @ Nov 5 2009, 07:38 PM

QUOTE
worth a look
yes, but nothing really new or unknown:
Chinese savings fueled the global greed industry with lots of cuts and kickbacks skimmed off along the way to the end user.

Good summary though.



--------------------
I trade daily, but I am not a licensed adviser. Whether you find my ideas reasonable or not: The only person responsible for your actions is YOU.
I follow two rules: (1) There are no sacred truths. All assumptions must be critically examined. Arguments from authority are worthless. (2) Whatever is inconsistent with observed facts must be discarded or revised. We must understand the Market as it is and not confuse how it is with how we wish it to be. (inspired by Carl Sagan)
 
jr007
post Posted: Nov 5 2009, 07:38 PM
  Quote Post


Posts: 195
Thanks: 13


New series on ABC now 8:30 pm - Addicted to money

Might be worth a look.

Cheers JR



--------------------
Bacon and eggs...A day's work for a chicken, a lifetime commitment for a pig

Said 'Thanks' for this post: maxwellreid  flower  anglingdarma  
 
maxwellreid
post Posted: Jun 18 2009, 07:34 AM
  Quote Post


Posts: 111
Thanks: 23


In Reply To: flower's post @ Jun 17 2009, 11:17 PM

Well, i don't equate size of corporations, that are a monopoly, and that are mired in traditions with providing a quality service. "The big bang" needs to happen again. A few companies have made take over bids, which might be an indication that they think they can do better. London is probably a large financial centre, because it provides tax breaks and an english speaking population.



--------------------
"A man lives a life shorter than a hundred years but worries a worry a thousand years long"
 
flower
post Posted: Jun 17 2009, 11:17 PM
  Quote Post


Posts: 12,991
Thanks: 1105


In Reply To: maxwellreid's post @ Jun 17 2009, 10:41 PM

M: The whole lLondon market is far bigger than NY or Tokyo--these are daily turnovers for two of the separate markets--note the size of their electronic market ---DAILY.

You surely dont believe they would turn over money in this vast cascade if they were ineficient. OZ market is miniscule in comparison so it was easy ro totally automate.
---------------------------------------------------------------------------------------------------------------------

The average daily value of equity trades on the London Stock Exchange's (LSE) electronic order books fell 60% to £6.2 billion in January 2009 from the record average daily value reported in January 2008. The average daily number of trades in January 2009 was 881,609 – 30% down on the same period last year.

The London foreign exchange market turns over USD500billion per day.

Add to that turnover the AIM market plus two more whose names escape me.



--------------------
Combining Fundamental comments with Fundamental charts.
 
maxwellreid
post Posted: Jun 17 2009, 10:41 PM
  Quote Post


Posts: 111
Thanks: 23


In Reply To: flower's post @ Jun 17 2009, 07:26 PM

thanks for that. It just looks a mess. Is there an orderly and fair order queue for stock? Or do i get supplanted by a house that's got a direct connect system? From the point of a user we (Oz) have a far better system. Try placing a limit order on some (UK) stocks and see how long it takes, if you are a average investor. I get the impression someone is ambling around with the order.



--------------------
"A man lives a life shorter than a hundred years but worries a worry a thousand years long"
 

sentifi.com

Share Cafe Sentifi Top themes and market attention on:


flower
post Posted: Jun 17 2009, 07:26 PM
  Quote Post


Posts: 12,991
Thanks: 1105


In Reply To: maxwellreid's post @ Jun 17 2009, 06:26 PM

Contrary to opinion the London market is VAST. It operates FOUR main markets. As far as the TV programme was concerned--it was either a comprehensive falsehood--OR it may just be that the hedge market is a market on its own--operating through the old jobber/broker set up, a bit more research is called for before sweeping statements are made--surely?
----------------------------------------------------------------------------------------------------------------------------

Member firms connect to the London Stock Exchange to receive real-time trading, information and other services. This section tells you more about connecting to the Exchange and about other network services available to member firms.

Each firm will have different requirements in terms of access to the London Stock Exchange's markets. Some may develop bespoke trading and information applications and others will make use of accredited software.

The Exchange has awarded 'Accredited' status to those Independent Software Vendors (ISVs) who have developed systems and conformed to the minimum requirements specified by the Exchange. These ISVs provide a valuable service to our clients who may not wish to develop interfaces to our feeds themselves.

View our list of ISVs.

Connecting to the Exchange

The Exchange currently offers several types of connectivity with varying levels of management and performance. These range from a full host-to-host solution to a Vendor Access Network connection, these are described below.

Extranex
Customers with their own trading and information systems can connect directly to the Exchange via Extranex. Extranex provides customers of the Exchange with dedicated point to point connections for market data and trading. Extranex is fully supported by the Exchange, providing the highest reliability and lowest latency connectivity.

Extranex provides a single point of access to support a wide number of trading and market data services. Lines can be sized to suit the information and trading service requirements of the firm. The scalability of Extranex allows information services to be added as required.

For more information on ISVs providing accredited software solutions for host to host clients please click here.

Member Authorised Connection (MAC)
Membership to the Exchange is the ultimate way to gain direct trading access to the world's deepest pool of liquidity in UK equity, in addition to International Depository Receipts and other trading instruments. However, in some instances membership may not be suitable for a firm. Member Authorised Connection (MAC) is an alternative way for non member firms to gain direct trading access to the Exchange via an authorising member firm.



Exchange Hosting
Exchange Hosting is a new connectivity service that provides customers with the fastest access to the Exchange's trading and information systems. It allows member firms to locate their servers within the Exchange's own data centre, providing sub-millisecond access to the Exchange's matching engine and market data.

This new service underlines the Exchange's commitment to encouraging market efficiency through the reduction of latency, and further extends our variety of connectivity options by providing the ultimate choice in low-latency connectivity.

Network Service Providers (NSP)
The Exchange has extended its network reach globally by partnering with accredited network partners. NSPs act as carriers of Exchange information and trading services to its end clients, who contract with the NSP for provision of network connectivity and sign agreements directly with the Exchange for access to trading and information. Customers of NSPs will have service enablements set up on the Exchange's trading and information systems in exactly the same way as a direct Extranex customer. The data and trading feeds are in exactly the same format as those received by a direct Extranex customer and are subject to the same testing requirements.


Vendor Access Network providers (VAN)
In order to extend the connectivity options available to our customers, the Exchange introduced the Vendor Access Network model under which market data vendors are accredited for the transmission of secured trading data across their proprietary networks. Vendor Access Network providers (VANs) provide network connectivity and pre-conformed application's through which clients can interface with the Exchange.

This solution allows customers who do not have a need for a full Extranex solution to utilise an accredited provider's network and applications for trading connectivity to the Exchange.

Accredited Proximity Hosting
The Exchange is committed to increasing the speed at which market data is disseminated, thereby improving market efficiency and increasing liquidity. As our clients' usage of automated algorithmic trading strategies increase, they are becoming more latency sensitive and are deciding to move their trading applications closer to their chosen trading venue. To assist our clients to identify suitable hosting providers, the Exchange has introduced a formal accreditation policy to provide visibility of the accreditation status of their chosen hosting solution provider.

Providers who fulfil the criteria are published on this site along with service and contact details.





--------------------
Combining Fundamental comments with Fundamental charts.

Said 'Thanks' for this post: avwebb  
 
maxwellreid
post Posted: Jun 17 2009, 06:26 PM
  Quote Post


Posts: 111
Thanks: 23


Placing a limit order using ye olde LSE is still like placing a piece of paper in the in trade, to be dealt with in the fullness or not of time. The English system is a yesterday system with an odd mix of auto and market makers. I liked the series - the social people failed as traders and the less social succeeded were far better turtles... um somewhat. Yep, "lets make money" luv it. 5 years to become a trader, a few weeks to be a turtle



--------------------
"A man lives a life shorter than a hundred years but worries a worry a thousand years long"
 
forrestgump
post Posted: Jun 17 2009, 03:57 PM
  Quote Post


Posts: 2,916
Thanks: 632


G'day,

Re the phone thing.

I had my suspicions that the whole thing was a setup. That is, that they weren't really speaking to a broker but to somebody across the hall who pretended to be a broker. I half expected this to be revealed in the final episode. It wasn't though - so maybe I was wrong.

The fact that they also seemed to have to go through all sorts of work to establish their positions and P&L seemed a bit strange to me.

Anyway, I did enjoy the series. I suspect it didn't turn out as well as the producers had anticipated though.





--------------------
Peace
Fforrest

Try to be as good a person as your dog thinks you are.
 
flower
post Posted: Jun 17 2009, 01:52 PM
  Quote Post


Posts: 12,991
Thanks: 1105


In Reply To: blueice's post @ Jun 17 2009, 11:47 AM

B: Think I am correct in saying various sections of the London Stock Exchange
still use a dual system---ie Jobbers and Brokers.

The Jobbers MAKE the market, and the brokers EXECUTE the orders.

As I say may be wrong--but thats certainly the way it was when I had a stab at it---many years ago!!!

The whole Australian automated system is the envy of many in its simplicity, it was certainly
installed by an Australian PC expert, the same person automated installed/trialled the TAB and the Paris Metro system.

I too though it totally unrealistic to expect anybody to be capable of trading the hedge market
with no course of induction or mentoring--therefore I suppose he whole series was of questionable value.



--------------------
Combining Fundamental comments with Fundamental charts.
 
 


4 Pages (Click to Jump) V   1 2 3 4 >

Back To Top Of Page
Reply to this topic


You agree through the use of ShareCafe, that you understand and accept the TERMS OF USE.


TERMS OF USE  -  CONTACT ADMIN  -  ADVERTISING