Recent content by PiTrader_101

It shouldn't affect your ability to get hired, but it is a U4 reportable event. You have to disclose it, just like you would have to disclose a criminal record or other court judgment. Trust me, you're not the first person in the securities business with a disclosure event!

Read at the bottom of the middle column on page 65 beginning with "On the morning after the avalanche..." It's all the same, only the names have changed.

They make money on the volume, and also because the smaller accounts frequently max out buying power on 200:1 leverage. They can also skew the rate up or down depending on the direction the client is going. Considering they are the market, this is a natural edge. An overbought account at...

Between leverage and the vig, the retail crowd loses almost all the time. Read The Education of a Speculator by Niederhoffer the chapter on Rake vs. Ruin. Even if you're not good at math you'll understand it. There are times where they win, usually during major bull markets but mostly they...

Pinksheets and the otc BB markets still use market makers extensively as that market may never be fully automated. NITE is a major player there, and some lesser known firms like Domestic Securities, Hudson Securities and a few others are very active in the penny and sub penny stocks.

If anyone has a picture of tubes or a drain, that might be appropriate. George Carlin did a show sometime ago about where lost money goes, lots of talk about the tubes and the drain. Very appropriate for today's environment.

This is certainly worse than I've ever seen, but the media has done an excellent job of convincing the sheeople just HOW BAD it is. If you didn't think it was bad, just turn on the evening news to see how the market PLUNGED 250 points today. Remember January 2000 when Robertson Stephens...

Let's think about this for a moment. Noobies coming on ET to ask how to become a successful trader is just part of the ecosystem of trading. It's a game where many are called and few are chosen. Since everyone has free access to ET, why not ask those noob questions? Like one guy said, it's...

I use in the money options for daytrading. Yes, ideally 100 delta would be the best, but you'll never get equal movement on options. I've found, and this is just my experience, that .70 is enough on volatile, liquid stocks to trade over a short term time frame. Anything higher than that gets...

I think NoDoji covered some good points. To get started, I'd say to trade call options only in the money with a delta of 70 or better...I've had the most luck with this. Since you're daytrading, just trade the front month contract...but make sure if you're losing money that the trade doesn't...

Spreads and commissions will get you part of the time, time decay and volatility contraction will get you the other part, and risk management will get you the rest of the time. In my experience, it's possible to do it profitably in the short term if you have a good technical setup. Problem is...

The losers always hate the winners. I've seen this in sales and trading over and over again.

THAT is f'in awesome dude. Take a month off and hit the caribbean. Enjoy it.

Is that 96k your p/l today?

Sorry guys, typo on the daily $250k daily profit goal. I meant $25k per day on $25 million. :D