Thread: Capital needed to avoid retail brokers

Jaja sounds extreme, but who knows... maybe in a few years it makes sense to think about creating a structure of your own. For now, I better focus on learning every layer of the system.

That's key. Don't skip steps. Master the retail level, then the institutional intermediate, and hence what comes from it. Trying to jump at the end without going the way is recipe for disaster.

There is a lot of mythology about �direct to the market.� Even many brokers who claim to be ECN actually have a previous routing layer. Marketing in this industry is more aggressive than selling used cars.

No wonder. I already saw brokers calling themselves �without a money table� and then you discovered that they execute 90% of the small orders internally. One has to learn to read the small letter.

If you ever plan to operate with FIX API seriously, start learning about protocols, latency, placement and server management. It's not just connecting a wire and ready.

Yeah, that's what intimidates me the most, the technical component, but if others do, you can learn, too, it all starts somewhere.

Look, you don't need to know how to program everything. You can hire a team to arm your infrastructure. But you do need to understand enough not to be conned or left in the hands of incompetents.

Totally. I don�t want to be one of those silver traders who ends up getting cast by relying on �a programmer friend.� If I do, it will be with judgment and supervision.

If you get to manage millions, you don�t think just about execution. You also have to think about compliance, auditing, reporting, legal structure. Moving to the next level involves really professionalizing.

I'm starting to see it. This business is a lot more than squeezing buy and sell. It's a complete company. Thank you for getting off the ground and showing the reality.