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When people ask me what I have done with my time to change the world, I respond with a gleam in my eye and say, "I provide liquidity." And then I break out into Goldfrapp's rendition of "Yes Sir, I Can Boogie." Divine light shines down upon traders big and small, and all becomes right with...

Suggestion (for discretionary traders): include the # of shares traded in addition to the gross profit. Doesn't make sense otherwise, to me.

No investment bank will hire you without a degree. And it usually needs to be from a top school. I don't know anyone who has gone from prop to I-banking, personally (I think hedge funds are a more likely option), and given the I-bankers I know, they generally take their crop directly out of...

Make sure you sign no agreements barring you from trading elsewhere if you don't like it where you are and decide to quit (non-compete clauses). .005 isn't great, but it depends on your volume. If you do over 100k shares a day, or 2 mil a month, then you can get much lower (I got .003 after...

Just to let you know, I've heard from several prop firms that this law about locking up your cap for a year is standard now. Anti-money laundering law written somewhere. I don't understand why this wasn't true before for prop -- it seems like a recent thing. But there are other ways around...

So here's my question: could anyone offer any insight into what the fixed costs for a self-clearing prop firm would be per month? Trying to get a sense of how far the rates have dropped over the last two years.

Great response, FuturesTrader71

This question has been bugging me for a while, and it's a completely useless question. Why did Andover change its name to Assent, and not, say.... Ascent? Were they implying that the management was going to be <b>extremely</b> agreeable from then on? Did anyone else find that to be a...

I would definitely agree about swing trading as a possible alternative, or trading futures. I think you ultimately get the best education for a lifetime of trading by learning how to mix technical analysis and market data that you would not have otherwise doing pure intraday trades. Straight...

Bullets were a different product. What he described above is legal, though certainly only by the letter and not the spirit of the law. Apparently sometime in... May? the NYSE is ditching the uptick rule on a big chunk of stocks.