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You still don't understand the core argument here. If a plane crashes into a building, every Bright/Echo trader doing this will probably get filled long on at least 50% of their buys (depending on how many specialists would let them cancel before fills), while no shorts would get filled. The...

I agree that prop traders with limited capital at risk can have a good risk/reward ratio with envelopes. I did them and made good money. BUT I do not feel the risk/reward is worth it for a firm promoting it to all of their traders. The firm is more at risk with this strategy than any other...

This strategy only works best in low volatility times (not earnings season). Also you are accepting the risk of disaster if there is a catastrophic event (terrorists etc). Imagine enveloping 50 stocks and getting filled on 50 longs when a bomb goes off in NY. The specialists wouldn't let you...

Go to the best school you can get into. I would have put more effort into college if I had a second chance.

I pay $69 with Blue Shield...great program.

$15k/2 months = $7500/mo = $90k/year. Sounds to me like he's doing just fine. You are either a horrible scalper (an average one can turn 10-20% a day on invested funds) or confused as to your trading method(s). 10-20%/day? So an "average" trader with a $25k account can do...

Not if you make $.

Trading is only stressful if you aren't making enough $, if you trade other peoples money, or when mistakes/outages cost you money.

I estimate the most I could make in a real "job", then subtract $10k for lack of commute/eating out/stress etc. That's my target every year.

You have it backwards. The majority of price improvements happen to limit orders...the market orders usually get taken advantage of.

Explain how the specialist is "pinning" the price, and how that would be beneficial to him/her.

How exactly do you do this with the wireless card/router setup? I want to make sure I haven't missed something in terms of security.

If he's an ex floor trader he may do better with scalping systems than trending systems. That way you don't have to teach an old dog new tricks in terms of money management/risk etc.

It's not a question of whether it works, it's a question of whether you can do it right. The guys making a living with opg's spend a lot more time and effort tinkering the strategy than most people are willing to do.

Ditto... July/Aug were half of my year's P&L.

The market was much more volatile last summer which gave most of us traders more opportunity.

One method I have found to decrease my losers is to plot/study my best and worst performing stocks each month. I take out the worst few performers every month, and pay attention to the best five (which often repeat) so I know when to be aggressive. This only works for those that trade many...

Here's my 2003 equity curve from using one such strategy...

I disagree with the first part. I know for a fact that part of my strategy is not being done by anyone. If it was stolen I would no longer get fills. IMO people who don't believe there are secret strategies have just never found one. The last part I do agree with though. Automation is a...

It was daytraderpete: http://www.elitetrader.com/vb/showthread.php?s=&threadid=20238&highlight=Got+slapped+around+today