New York Magazine “Professional” Traders

Every now and then someone calls me and asks me to recommend a “prop” firm and now I can just send them to this article –

Surfing the Tsunami, New York Mag, Feb 2 issue

Evidently this is news to the magazine but from my vantage point, this is no different than the desk I ran or the early firms I traded with – Bright Trading, Schonfeld and ETG. There were others, lots of others, in the 1990’s – but the idea is the same – exactly the same. It is funny to read about head and shoulders patterns in New York (not to be confused with The New Yorker) but it is also a bit instructive – favorite stocks, last minute moves, the thrill of the chase….

The markets are ALWAYS a bet against what other people are going to do and Milman, the trader in the magazine, gets that.

The atmosphere is also the same as I remember it at all but Sharpe Capital where my desk was housed within a true market-making firm. Or at Schonfeld… where the wallpaper (and lunch) was amazing.

Entertaining and instructive… when you want to know who you are trading against.

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This Post Has 4 Comments

  1. Sounds like this guy could use your course! WOW!

  2. Sounds like this guy could use your course! WOW!

  3. I know this guy, his brother Serge, Chad and the rest of the guys mentioned. They make good money and have been doing so consistently for the last 10 yrs. Imagine what they could make with a little more psych cap.

  4. I know this guy, his brother Serge, Chad and the rest of the guys mentioned. They make good money and have been doing so consistently for the last 10 yrs. Imagine what they could make with a little more psych cap.

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