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Algorithmic Trading...Where to start? (Read 9131 times)
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Algorithmic Trading...Where to start?
06/23/09 at 10:17:05
 
I have been a (quite) follower of this wonderful forum since very long! This forum is a great source of information and insight in the quant (and finance) industry in general...

Any pointers for following....???

What is the best way to start learning algorithmic trading? (While not being employed by a bank )

- Is participation in open source frameworks such as Marketcetra a good start? Do prospective employers see this (contribution to open source trading platforms) as a relevant experience for Algorithmic Trading Programming roles?
- Any other open source frameworks that you would be aware of, which would be a very good introduction to this field?
- Are there any up-to-date/recent books which give a head start in this relatively new field?
- What extent of quant knowledge is required for being an algorithmic strategist ? Is knowledge in Hull/Shreve/Wilmott a good starting point?

My ultimate aim is to gather sufficient knowledge to be able to join a good bank as a (Junior) Algorithmic programmer

P.S.
My Background:
- I have nearly 3 years of software industry experience (Java and C# combined) (out of which almost 1 year is in issues related to Grid or High performance computing, like tweaking applications to run faster, cluster/grid management issues, etc.) Hence the interest in Algorithmic Trading field.
- Have a Computing MSc from Imperial, with elements of probability, parallel computing, operation research, queuing theory, etc. They were good introductions, but I had very little time to gather deeper information about financial products (derivatives, etc.).

Any pointers and suggestions much appreciated...
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Re:  Algorithmic Trading...Where to start?
Reply #1 - 06/25/09 at 16:58:35
 
Hello. I am very intrigued by your desire/aspiration for this new and exciting field of algo trading, I share your excitement. Our backgrounds and bios are polar opposites, you a programmer, me a trader,--But yet a perfect fit.

I believe that your current  knowledge would be an overwhelming positive addition to our initiative. I would like the opportunity to further discuss our possible synergies. If your interested, let me know and we will schedule a phone call.

I am the principal of a 20 yr old floor trading firm that has held/still holds memberships on the NY and Chicago Exchanges. We have spent the last 6 months learning about latency and architecture and now feel that we have at least a good enough understanding to launch our ALGO division. We have sure up our software and hardware partners and have extremely strong relationships with the Exchanges because of our history with them, thus we have just finalized a deal to co-locate our servers directly in the Exchange rack. We strongly believe in a team spirit. We have learned that to compete in this brave new world of ALGO, a team must have programmers, quants, developers,IT, math genius and of course traders----WE CHOOSE TO FOCUS ON THE TRADERS. We believe that sub-milli speed can be bought if truly needed, and the best programmers can be found and hired, but traders are born, and then nurtured to have an intrinsic gift that even the most talented MIT grad will never be able to code. If you are a trader, better yet a former floor trader, please lets talk. This is your new home and we will capitalize and incubate you to truly perform with a support staff and the latest technology. We trade only commodities, and although we are looking for traders, all others who think they have services to help our firm, please submit your thoughts or request for employment. Many Thanks.

Regards,
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