Basic intro info for beginners and refresher for intermediate level traders
- Thread starter Triantus Shango
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Triantus Shango
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too much to do and not enough time ... 
anyway, funny thing happened by pure coincidence. here is some info i was not looking for at all but popped up when i was searching for more info on the JVM memory model and concurrency limitations of the JVM (Java Virtual Machine):
The LMAX Architecture
interestingly, LMAX does not hide the technological solution they use to provide super fast execution. they even made public the white paper that explains how they achieve 25M messages per second with latencies lower than 50ns! talk about being transparent.
here is a video at an IT conference where the IT guys responsible for designing the system are talking about how LMAX achieves 100K transactions per second in less than 1 ms (one presenter says 6M customer orders per sec--confused now as to what a transaction is):
LMAX - How to Do 100K TPS at Less than 1ms Latency
(according to the presenter, LMAX is not a broker, but an exchange (MTF) taking retail orders and matching them directly... i guess true DMA for all exchange participants. getting more and more interesting...)
[[watch the presentation... am just finishing it now... those guys are nuts! listen to what they did with the ethernet packets. damn. i'm in awe.]]
and for the technically inclined, the white paper is attached.
really amazing.
anyway, funny thing happened by pure coincidence. here is some info i was not looking for at all but popped up when i was searching for more info on the JVM memory model and concurrency limitations of the JVM (Java Virtual Machine):
The LMAX Architecture
interestingly, LMAX does not hide the technological solution they use to provide super fast execution. they even made public the white paper that explains how they achieve 25M messages per second with latencies lower than 50ns! talk about being transparent.
here is a video at an IT conference where the IT guys responsible for designing the system are talking about how LMAX achieves 100K transactions per second in less than 1 ms (one presenter says 6M customer orders per sec--confused now as to what a transaction is):
LMAX - How to Do 100K TPS at Less than 1ms Latency
(according to the presenter, LMAX is not a broker, but an exchange (MTF) taking retail orders and matching them directly... i guess true DMA for all exchange participants. getting more and more interesting...)
[[watch the presentation... am just finishing it now... those guys are nuts! listen to what they did with the ethernet packets. damn. i'm in awe.
]]and for the technically inclined, the white paper is attached.
really amazing.
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Triantus Shango
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Required reading from the SEC
although this is talking about the securities market, nonetheless, an electronic market is an electronic market and whether the instrument is stock or currencies, the same mechanics should apply: Investor Tips: Trade Execution
although this is talking about the securities market, nonetheless, an electronic market is an electronic market and whether the instrument is stock or currencies, the same mechanics should apply: Investor Tips: Trade Execution
Triantus Shango
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Tick history available for free
i thought i had posted this but apparently not. this is a great resource if you ever want to check that the prices displayed by your broker/dealer match the real ones in the wider market out there:
- read this page first and watch the CEO's pitch: TrueFX
- then create a free account here: TrueFX — Tick-By-Tick Real-Time And Historical Market Rates, Clean, Aggregated, Dealer Prices and that will allow you to download the data file. can't remember now, but i think there's like years worth of data in there.
i thought i had posted this but apparently not. this is a great resource if you ever want to check that the prices displayed by your broker/dealer match the real ones in the wider market out there:
- read this page first and watch the CEO's pitch: TrueFX
- then create a free account here: TrueFX — Tick-By-Tick Real-Time And Historical Market Rates, Clean, Aggregated, Dealer Prices and that will allow you to download the data file. can't remember now, but i think there's like years worth of data in there.
DriftTrader
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You all are an expert of your own trade
Triantus Shango
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What is the difference between a Prime Broker and a Prime of Prime Brokerage
here, found this page where you get a brief explanation of what a prime broker and a PoP is as well as why many retail broker-dealers use a PoP to gain access to the market:
What is Prime of Prime - "PoP"?
here, found this page where you get a brief explanation of what a prime broker and a PoP is as well as why many retail broker-dealers use a PoP to gain access to the market:
What is Prime of Prime - "PoP"?
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Triantus Shango
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MUST READ!!! --> Free trading advice report
all beginners out there go to this site: fxbriefs.com and download the free report and read it again and again until you cannot forget it. ;-)
all beginners out there go to this site: fxbriefs.com and download the free report and read it again and again until you cannot forget it. ;-)
What is the special about that report and why we have to read it again and again. We can understand in one reading. I think you should enlist the key points of the report here.
Triantus Shango
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when i write 'read it again and again' i am just trying to communicate that something is very important not only to know, but also to internalize. yes, of course, you can understand it in one reading. but there is a difference between understanding or knowing something, and living it when trading, hence the use of the word 'internalize'--you have to go beyond knowledge only, that is to say, some knowledge has to become 2nd nature.
and i have not mentioned the key points here on purpose for 2 reasons.
(1) because the report is available for free and i cannot do a better job at conveying the point. this is written by a professional who has way more experience than i do.
(2) because of human psychology: i am hoping that any beginner who reads this thread and forum in general begins to understand that part of becoming better at the art of trading is to cultivate a pro-active mind and get out there, gather the information you need, cross-compare it, think about it deeply, leave no stone unturned instead of just waiting for people like me or sive or anyone else to just spoon-feed you. were i to do the latter, i believe i would do you a great disservice, short-circuiting your learning experience.
but then again, if someone doesn't feel like investing countless hours, days, weeks, months in doing the required studying, then that's fine too. i do not care. just don't trade your own money but find someone qualified to do it for you.
finally, the point of this thread and forum, as i see it, is to get as many retail traders as possible more educated about the industry and the art of trading, because if we all raise our level, meaning if we all become more sophisticated traders, then the retail brokerage industry will have to contend not with fools anymore, but people who know what they are doing and therefore can demand better quality of service, which in turn will motivate the brokers to increase that quality of service if they do not want to lose business and end out of business. and those brokers who don't, will see their customers go to those brokers who offer better service. a virtuous circle, so-to-speak.
if regulators will not clean up and reform the industry, then educated customers can vote with their money and change the industry by giving their business only to those brokers whose interests are aligned with those of their clients. that simple.
and i have not mentioned the key points here on purpose for 2 reasons.
(1) because the report is available for free and i cannot do a better job at conveying the point. this is written by a professional who has way more experience than i do.
(2) because of human psychology: i am hoping that any beginner who reads this thread and forum in general begins to understand that part of becoming better at the art of trading is to cultivate a pro-active mind and get out there, gather the information you need, cross-compare it, think about it deeply, leave no stone unturned instead of just waiting for people like me or sive or anyone else to just spoon-feed you. were i to do the latter, i believe i would do you a great disservice, short-circuiting your learning experience.
but then again, if someone doesn't feel like investing countless hours, days, weeks, months in doing the required studying, then that's fine too. i do not care. just don't trade your own money but find someone qualified to do it for you.
finally, the point of this thread and forum, as i see it, is to get as many retail traders as possible more educated about the industry and the art of trading, because if we all raise our level, meaning if we all become more sophisticated traders, then the retail brokerage industry will have to contend not with fools anymore, but people who know what they are doing and therefore can demand better quality of service, which in turn will motivate the brokers to increase that quality of service if they do not want to lose business and end out of business. and those brokers who don't, will see their customers go to those brokers who offer better service. a virtuous circle, so-to-speak.
if regulators will not clean up and reform the industry, then educated customers can vote with their money and change the industry by giving their business only to those brokers whose interests are aligned with those of their clients. that simple.
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