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Apparently, transactions which increase liquidity provide a credit. Clearly, this is an opportunity for profit. To minimize risk, you ideally either want to use a very stable individual stock, or a basket of stocks that together cancel out each other's change in price (negatively...

Which rumor: the 2012 rumor or the getting shot rumor? That getting shot rumor cost me. At the moment that news came out on CNBC, I was in a short position, only to watch my stock go shooting up. Not a nice thing to have happen to a new day trader. In 2012 democracy will reign in all of...

I also said this, and I believe it!! "Go look at what happened during the banking crisis. Keep in mind that the US markets are closed today. Also, the Middle East crisis isn't large enough yet to cause a real panic and a rush back to the US dollar. I was assuming that OP feared a major...

Reread the orginal post: "Instability = Profiability! Place your bets, gentlemen. Long CAD" Long CAD was the wrong call. Short CAD in response to that news was the correct call for the next open market day. What I said happened. 1. CAD went down. 2. USD went up. 3. TSX...

The specific news changing events occured yesterday. Saudi Arabia reported that they would boost oils production, reducing supply fears. Also, rumor about Libyan leader being shot. If you were watching at the time this was reported, oil immediately went down, dollar went down, and stock...

Ok, you silly fellow. Read. "If there is to be instability". This is a hypothetical! There WAS instability, ever so briefly, but it cooled off. The dollar went up, then right back down again when cooler heads prevailed. Panic causes a rush back to the US dollar. The panic calms. People...

"The last time oil held the market up, the market just tore higher without caring." Are you talking about that period before the banking crisis? In my humble opinion, the difference is quite simple, "confidence". We've just been through a major world recession. Everybody is scared...

ksmetana, it is one of many skills that I must acquire on my road to success. Only scalping won't be enough, but there will be situations where it is useful. I need a set of skills, not just one, so that I can adjust. Frankly, I find even an intraday buy and hold impossible in these volatile...

What future contracts did you trade today? I'd be very interested to see what you are doing. Yes, I am a beginner trader, but at an academic level, I understand the futures market.

Jokepie, I missed your comment yesterday. Great tips. Thanks.

Yep, my finger was always hovering over the sell(buy) hot key, so that I could quickly get out of the position if the direction changed. However, I see your point; a really big move could do me in. Actually, I thought scalping involved trading a relatively "silent" stock. NVDA was anything...

Ha! Well ... up to 44 trades today. Didn't read your comment until this evening. Had a whole bunch of fun with NVDA at the end of the day. Price up and down like a yo-yo. Very quick moves up and down in the last hour. Many times, I shorted at the top, and then longed at the bottom...

http://www.orbixa.com/

Its a prop, but everybody here has atleast one finance related degree. Most are working on their CFA.

For all who have been mocking me, looks like shorting CAD has been the right short term trade since yesterday. Panic causes a rush to the USD.

You said this: "To be honest, it's probably better to come into trading with a clean mental slate than to have the burden of knowledge." The fact that major institutions expect "knowledge", suggests that you may not be right.

.... but .... You'll never get a job in the prop. office of a major bank without a finance related degree at a top level university.

Actually, I am counting on it. There are certain lessons learned at the academic level that simply don't apply in the real world. I am smart enough to recognize this. Quite frankly, I want to "unlearn" some of the theoretical knowledge I have been given. It is helpful to apply theoretical...

"On any given day, ANYTHING can happen. If it were as easy as applying common sense macro to each daytrade, everyday, everyone would be rich." Again, you're missing the point. I don't propose that one should apply macro principals to a day trade. I am however suggesting that certain macro...

Actually Fireplace, I don't pretend to suggest that applying macro principles to short term trades is a good idea. However, understanding the consequences of macro decision made by the Bank of C or FED, for example. is very relevant to day trading. For example, here we are now at a point in...