Recent content by heavy

"Interviewed with DC today..." Do they give you a W2, 1099, or K-1? If it's not a W2, I wouldn't call it a job for which you need to be "hired". It's scary/sad how clueless some people are around here.

You can trade-through with INET on certain NYSE stocks... they list them on their site, but not in one big list. You have to sort through a bunch of crap to get the actual list. I'm surprised how few people actually know this.

" Any DECENT prop firm would be able to monitor, in real-time, the exposure and P/L of its traders." I fully agree. Notice, I made no mention of the quality of the firm[s] at which I saw this. Sorry, back to the thread topic...

I tried to edit my post about the CECO/COCO (can't remember)... that was INTRADAY. Yeah, that was extreme, but over the years, I've seen lots of traders go negative by a few grand, and a handful of guys go negative in a big way. It was usually intraday, too.

"So, you're telling me that in instances where a trader went to a prop firm, put up money in order to buy leverage, that they let him lose more than his initial deposit? Impossible." You're kidding, right? Say a guy puts up 5k and has 500k BP. Say he's done a few hundred thousand shares for...

"I PRESUME that specialists make the market LESS efficient, not more efficient. This, I suggest, is a reason why specialist involvement is a good thing for TRADERS." I Agree.

When in doubt, pick up a phone and call... it may take a few transfers before you get someone who knows what they're talking about, but you can hear their policies, anyway. Or, they'll direct you to a link where you can read 'em.

"You money is no longer segregated... but is comingled with the Firm's capital and becomes part of the Firm's Net capital" Not true (at least the firms that I know). Trader's capital is NOT part the firm's Net Cap. I'd be curious to hear if some firms really try to pull that off... I'd hate...

"Well, you need to realize that they aren't going to let an account go to zero." Hehe... I've seen MANY accounts go waay past 0. Even 6 figures in the red, if you can believe that.

"I know this applies when sending orders to NYSE, but does this really apply to ECN's as well?" Ever since ARCA became an exchange, they follow the same rules as the NYSE for odd-lots. INET is a little vague on this... they say that you can do it, but your firm (and you) will most likely be...

I just started using flyonthewall, and every time a news story comes through, my IE freezes... using the task manager, I can see it actually gets to 100% usage. Seems odd, and I've never had this sorta thing happen before. I can't reformat, because the machine's in my office. I haven't told an...

Yeah, seems like that should be an option, because most traders would be willing to pay for billables, as long as they don't have to "get at the back of the line" every time the order replaces.

I'm amazed that eSignal has as many users as it does. I've used it in the past, and my firm had constant problems, whether connecting to in-house servers or through the net (which was actually a little better). If if wasn't slow, charts would freeze, and some windows wouldn't have any data. This...

GATRader- Graybox only recycles dot orders (NYSE at about 290 seconds and AMEX about 110 seconds). You can leave ECN orders in as long as you want, I think. Don't quote me, but I know that's how it was a while ago.

The guy on the other thread said this: "Commission: $0.55 per fill (if you send in a 1000 share order and you get filled 200, 200, 100, 500, you pay $2.20)" That sounds more like it. I've never heard of .50/1000 with an 80% payout. I guess it's possible, but hard to believe.