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I have been following this thread for some time and just wanted to post a few things I have discovered that might help others: 1.) By using envelopes no less than .5, I have found that the number of my profitable opening orders has gone from 54% to 69% and my average daily production doubled...

Great lead, dunleggin! Thanks.

First, I want to thank everyone who took the time to reply to my initial post. The answers have helped me to understand the Forex market a little better. But here is something else I do not understand. In the equities market, I can watch the tape to get a sense of what is going on before I...

I am a fairly new trader with Bright (about 6 months) and came to them because of the reputation of the firm. I was worried about depositing my capital into a firm's account and then have to worry about whether I can ever get the money back in a timely manner or even at all should the firm...

I trade stocks and options and have been considering trading the Forex. However, the few Forex services that offer free virtual trading accounts do not offer volume histeograms for the charts. I know this is a very basic question, but is this typical for currency trading, and if volume is...

Thank you Efficiency for the great information! Really helps me to understand what I am seeing. Continued success, Daryl

I use REDI (Goldman Sachs) and was using trade-ideas.com to provide notification of big block transactions. I do not have Esignal but I appreciate the offer.

I know this is a rather basic question, but I am confused. Sometimes, I see very large block orders placed and filled (in relation to the normal trading sizes for that particular stock). Yet, most of the time, I see little to no obvious impact on the stock other than that it tends to trade at...

Since beginning this thread, I have received some GREAT advice from my fellow traders and I would like to thank each and every one of you that took the time to share your hard-won knowledge and experience. I would go so far as to say that the guidance I have received in this thread has...

Just got off the phone with the PA securities commission, who were very helpful and customer-oriented. Given that each state is different, in PA an 'amateur' trader can have up to 5 managed accounts if he/she does not hold themselves out to the public be an investment advisor. The issues of...

I have been exploring this option. Unfortunately, a full blown hedge fund is only practical with several million AUM. Otherwise, the compliance and accounting costs are prohibitive. Incubation hedge funds are not applicable either, because performance fees cannot be charged and there are...

What about in the case of equities? (I don't trade futures)

Yip1997, if that is the case, what processs would one have to use to be able to take a performance based fee for a managed account? Thanks, Daryl

The securities commission of PA told me it was not dependent on the amount of funds within the account; rather, the number of accounts. On a seperate note, I have a friend that used to be licensed and he told me that it is not permissible for series 65 and series 7 licensed traders to take a...

I have have just recently begun to manage accounts for various friends, family and business contacts. By manage accounts, I mean that they are depositing funds into their own account at the brokerage I use (Optionsxpress) and then signing a full power of attorney permitting me to trade the...

Jsmooth, can you elaborate on what methods/perceptions you incorporated to be able to track all of the other market participants? (Not looking for proprietary info here...) Thanks, Daryl

As traders, we all pay our "tuition" to learn the art of trading by losing money to the markets. Eventually, some catalyst occurs that transforms an unsuccessful trader into one that is consistently profitable. For me, it took over 12 years of trading to come to two realizations: 1. I...

Well said!

Bite your tongue, Wayne! :) I trade almost exclusively in options and can tell you that they can be very profitable while greatly reducing risk. But like most other areas of trading, and I think this is coming out in the messages of this thread, there is a tuition cost to be paid. NO way of...

Wayne, it took a few hours, but I went through the several hundred postings by 40yotrader as you suggested. I started with the oldest posts and worked my way to the present. It was very interesting to watch him evolve as a trader. He was methodical and persistent and while I personally think...