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Don't say I didn't warn you. :)

Uh oh, here comes the whole slew of replies that say "Do a search on 'pairs trading.' You'll find a ton o' stuff." :)

Maybe... but the volume was so low I took a half-hour nap and didn't miss a print.

Correct. And thanks for all the fish.

Does that mean they're only targetting people that are smiling while waving a Kalashnikov?

Actually the Holy Grail TA Indicator (tm) is 43. Or is that the meaning of life?

I love that 2-Pack Shaker guy!

Who's Super Ego:confused:

Daily and 5-minute mostly. Very occasionally 10 or 15-minute. I only use patterns on daily though. As someone else mentioned, patterns on intraday charts are kind of spotty.

The 63 is the broker's license. Not required for prop traders.

I agree. I don't really care that people don't like the specialist system/NYSE but it bothers me that so many seem to think it must be changed to the OTC/Naz model. If people don't like NYSE, don't trade it. But don't try to take it away from those of us who like to trade it. The free market...

The only problem with that idea is that you could be throwing out the baby with the bath water.

Very well said. I've been at Worldco two months and having a great time. I disagree with one thing though: discipline should be at the top of your list. What separates the good and bad traders is the ability to be patient and wait for good trades, don't overtrade, and cut losses quickly.

Why? I put up half that and after two months I made four figures last week and am up to 500-share positions. The 100 share limit is just until you prove yourself. If you'd rather trade on your own, that's fine but saying prop firms are rip-off deals is just plain wrong.

Exactly right!

Don can correct this if I'm wrong but I believe Bright requires a $25,000 deposit.

I'm doing you one better: I'm going to get in my Wayback Machine and sell everything in Feb 2000. :D

I know a couple of ex-Generic traders and their fees are extremely high (2 cents a share, I believe). Schonfeld seems to concentrate mostly on Naz swing trading but I don't know their fee structure.

As a trader you have to go with the market at the moment. I would say I was long 80% of the time last week and I made good money.

My opinion is the PDT rule came about because the SEC belatedly thought they had better do something about all the amateur daytraders blowing out their accounts. They figured that if it ever went before a congressional hearing they could say "look we tried to limit the damage." We all know...