How to find a contract or job in algorithmic trading and quantitative analysis?

[pfornai]

I hope this subject is not too unusual for here:

My name is Peter Fornai. I have gained system development and optimization/analyzing experience using TradeStation, TradeSignal, Amibroker, MetaQuotes, etc. and I have created my own database, analyzing and charting program: www.forexfornai.com/system.html because I found limitations in the capabilities of most commercial charting software to analyses news, fundamental, technical data or to find arbitrage opportunities. I have also created a few smaller applications like excel sheets to analyze carry-trades or an option trader simulator, etc.

What is my background?

I have earned a reputation as a consultant who was technically leading Internet portal projects with size of millions of dollars or over 10.000 man-days and by contributing to technical books. I have well over 15 years of commercial experience from equity-portfolio applications to Internet Marketing and a strong academic background up to doctorate studies in algorithms.

What is my motivation?

Even though my skills are sought after by some of the largest IT companies and I can charge top daily rates for my work, I made a decision to move into a different direction and I am dedicated to eventually earn a reputation in algorithmic trading even if I have to start from a junior position.

Best Regards,
Peter Fornai
[email protected]
+358 41 53 64 933.
+36 30 654 11 69.
www.forexfornai.com

 

[Jack o'Clubs]

Doubt you'll have much luck on here. Try posting your cv up on efinancialcareers.com

 

[blackcab]

Doubt you'll have much luck on here. Try posting your cv up on efinancialcareers.com

You could try http://www.nuclearphynance.com/ and http://www.wilmott.com too. They're both very quantie.

 

[TheBramble]

Peter, I'm not clear from your post and your website what it is you are specifically looking for.

A entry level quant position on contract or perm, funding to develop your FX charting package and product range or assistance in developing another business start-up in the quant area?

 

[TWI]

Have you applied any of your algo's to market data with any success.

 

[Directional]

(and as a chief dealer at a shop that employs some algo technology I get to see this sort of thing fairly regularly).

what sort of algo's does your firm work with GJ?

 

[Directional]

Come on mate - u know the answer to that really - secret ones ;-)

Sorry

GJ

:cheesy: i knew that really mate

in general terms, are we talking flow control & exposure management algo's, or more uber-directional-picking holy grail type algo's?

 

[TWI]

I run algos that buy and sell sh*t

 

[TheBramble]

I run algos that buy and sell sh*t

Can't find a quote for that one. But I have a gut feeling....

 

[Directional]

Neither ;-)

oooohhh... those type of algo's

 

[TheBramble]

Stumbling Blindly Through the Mist

I’m sure you two lads (Arb & GJ) wont give away any pro secrets on prop algorithms, but I’ve always understood the primary role of these little beauties is to allow large blocks of stock to be shifted in small chunks to avoid the obvious detrimental consequence of dumping/trawling for large blocks in one go.

I also took it that some of these algos – which are basically trading execution strategies in code form – would concentrate on high volume times to transact, such as at open and close and lighten up their activity during the lunch period. All standard stuff.

What I’ve wondered though is if it’s possible for us tyros to use the fact that all these algorithms, in aggregate, will be trying to do pretty much the same thing and therefore we could identify those periods when price and volume were not behaving as they ‘should’…

Example. Based on technicals, you’re seeing weakness in a stock and you’re waiting for the right moment to go short. Your view is that you’re not the only cutie with this assessment and you are waiting for the pros to confirm your position by…by what? By selling themselves of course. But you make an assumption they’re not going to sell and give the game away by taking the price down against themselves, so there’s potentially going to be jiggery pokery and some wide range bars with unaccompanied (relative) volume. That ‘could’ be a sign, but isn’t confirmed until you get the actual price break down. Which is enough to make a living from, but doesn’t pay the deposit on the Sunseeker…

What might we be looking for between the fake (mark-up) and the actual break down in price? I wonder if it is worth looking for very even average volume on narrow range bars drifting sideways. Would that potentially indicate trade programs trying not to give the game away and the pros gradually (and under automated control) unloading? I appreciate there would have to be some slick mechanics in determining how and how much to buy just to stop the price dropping below predetermined levels during this mini-distribution and I’m sure the math would boggle me (and we’re not even anywhere near VWAP and TWAP etc. yet), but am I on a roughly sensible track with this line of reasoning?

 

[pfornai]

Closing the thread

Thank you for the constructive answers.

Just a quick reply to some of your questions.

No, even with my amount of refences it is hard to move sideways. I post my CV to monster or jobserver and I get refered back to the very same company: Nokia or another telecommunication company. And all my friends or business contacts refer me to very similar jobs. I hope I will eventually make some progress. Even if I have to finance my own progress by taking the old type of jobs first where I have contacts and experience.

Regarding the question about trading systems that behave well in the market. The question was really to the point : ON THE MARKET. Yes, that is why I started to develop my own testing framework in the first place. It is very hard to trust some commercialy available backtesting packages.

Thank you for your help,
Peter

 

[jacinto]

eFinancialCareers.com?

(mods - am I allowed to do this? - apologies if not).

GJ

fine with me.

j

 

[jacinto]

Well if it's good enough for Dr Evil........

then its good for minime

 

[TheBramble]

Thanks for your detailed response GJ. I guess from your response, in many respects, my suggestion was akin to attempting to work out precisely what all the bits & pieces involved in landing a 777 are doing from just watching the plane touch down. I just wonder if all the pros algos together have a determinable, measurable and therefore detectable effect on the market or if they tend to cancel each other out to the larger extent. And if there is a single answer to that, whether this is ALWAYS the case. I guess your algos are fighting it out with other shops algos and it’s a case of continually refining them as they get out-traded. I remember going down this track with trying to arb the arbers in my early days and you can get into some fairly loopy loops. Least, I did.

Your mention of 9/11 and 7/7 rather highlight the very large differences between your type of trading (pro) and that most of us here are involved with. A very different game indeed – with its own advantages and disadvantages. (Wouldn’t mind your commission structure though…)

Inside info on markets seems the way to go. Have you checked out www.insidetheinsidersinside.com ?

Thanks for your reply. Much appreciated.