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On a side note, last week I had the priveledge of hanging out on the NYSE floor for about an hour. The thing that struck me the most was how fast the clerk works all day long. He is constantly typing, while the spec is watching the larger orders, and working orders for the floor brokers. I...

I would stay where you are. You are very lucky to be in a training group where you are making money this quickly. You will not get these results somewhere else by changing styles. If these guys had a system that worked well they would be recruiting big traders, not someone that just started...

Those shares on the book don't really matter. In this situation I would usually limit down to .95, then probably put a buy at .91 or .86 just in case he decides to screw someone. You said we didn't have access to ECN's, but that would have been my first choice to exit.

To answer the question in the original post, imo it's because the futures market is very efficient. You almost have to forecast direction which is a losers game 90% of the time. Whereas in equities there are many edges such as arbs, pairs, OPG, MOC, IPO's or whatever. Market direction doesn't...

Like a few others said, prop is the way to go. At Assent you could put down $10k, get $100k BP and not have to risk other peoples money. In my opinion trading other peoples $ is much harder than trading your own...you would be making trading twice as difficult.

Lots of Genesis guys on here now...good to see everyone doing well. This is turning into a good month :)

Telco enters an order for $6.5M in stock and has a .3% slippage and files a lawsuit?! Who in their right mind would use Ameritrade for this type of trade? Without details of the stocks liquidity at the time there's no way to tell if this fill was fair imo.

Try ARCA...with Genesis if you have "route out" on then you can execute against those.

You won't win an argument on BB stocks...it's like the wild west there. Why don't you tell us what data source you already have.

It would be good to see what all these guys are up to now. Tharp, we haven't heard from you in years!?

I am in this situation. The risk of losing your edge is what keeps you always looking for the next edge. If I can make $100-150k trading then it's worth it to me to take on that risk. This is better than any day job.

Not that I am aware of. Being part of the statistics they are disclosing doesn't really bother me honestly.

I switched from my local CPA to Green in 2004 and have no complaints so far. They understand the tax laws for traders much better than my previous CPA.

You have to consider that this is a better trading environment than 2002. I do not think anyone would bother doctoring their PnL's...just imo. I know enough successful traders to believe those numbers.

Great finish for the week...

Nice trades! Next time do 1k :-)

You must trade through IB? Your fees over comms are only 6.5% whereas mine are 16.5% over.

Today is really slow so far so I was looking over some stats for year to date. The fees really suck, but hopefully over the years they will continue to drop. Up days =72% Avg Up Day = $1064 Avg Down Day = $797 % Commissions of Gross = 27.5% % All Fees (Comm/SEC/ECN) of Gross = 44% % of...

After a miserable day yesterday i'm back on track thanks in large part to a TI alert on UNM.

http://www.elitetrader.com/vb/showthread.php?s=&threadid=1670