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Maybe my post was a bit off topic, but I really do not think most firms are out to screw you. Most newer firms are run by inexperienced guys (maybe not inexperienced traders but perhaps inexperienced managers) and when the shit hits the fan, everyone loses. Somteims the guys who you think are...

you know, not all prop firms are bad. I joined one and the president gave me a $30K leash. Guess what, I lost every penny of it, in three months. This was after a successful 3 years trading merger arb, with a salary and bonus, etc. Okay...so three or 4 years being a good trader, then a...

I am just curious because apparently they made deals to managers cutting out their commission overrides, so some are leaving. Does anyone have any more info? Thank you if you do.

Yes and the other 95% is trade management - e.g. position sizing and exits.

On liquid stocks market orders work fine. Obviously, if you pay very high fees for removing liquidity on ECNS, and it makes a difference to your p/l, than you might be better off executing your sales by offering stock or buys buy bidding stock first. However, in fast markets its nice just...

Fair enough...I thinks it's easy to say those are your experiences.. Maybe I can learn from what you say. My experience is a little different, and those of some of the better traders that I know or talk to frequently. Maybe i can open my mind again to a little more testing, but I am not...

Some money managers actually like the 1 to 3% fees they charge on multi million dollar accounts. It's a different world, complete with big 3 audits, marketing, back scratching. Maybe it looks more professional than just being a very good prop trader. Some people like the limelight too...who...

Yes I agree its silly. Can't we all just get along? Well hopefully people get a better perspective on the value of testing. I used to believe in a lot of testing, but what i though is, that was when I was really "new" after I had lost money without a well defined system. I was trained...

okay....it seems we have come to some kind of consensus that "the skill of backtesting" is important. For me, any backtesting requires that i set up rules for my test (even if its an intuitive not mechanical/computer test). Then once the entry rules are set, then I define exit(and/or) money...

Well...you can go ahead and be the best backtester....I will just be the best trader. I am not saying backtesting isn't important (for those of you who jump), just that it's a minor part of being profitable...at least for me...trading profitably for 7 years now. This is just my experience...

Well, the markets won't let you trade historical data. So backtesting outcomes have little bearing on the present price, or for that matter, the next price. There are geek suckers born every minute that will backtest for years, all the while avoid trading, searching for the Holy Grail...

When I refered to making money for one's prop firm, this definition applies if you actually share your profits with the firm, or if you put up risk capital and make 100% payout. Your longevity as a trader benefits firms in the latter type of deal via the commission overide they make off your...

Trading is one of those jobs you can do well past the age when you can't do other jobs. It requires no specific location, no physical strength, merely the decision to buy or sell. That decision can be carried out in an infinite number of ways that are about as challenging as breathing. It...

UH...unless i am wrong by a factor of 10, a "ms = millisecond" is one thousandth of a second. If your reaction time (let's say the time it takes to recognize an opportunity to trade + the time it takes to hit the key) is 15 to 45 seconds (15000ms to 45000ms)....maybe you should do something a...

Thanks for your information.

Hello. I am a long time trader. My new (last 8 months) firm's software does not have direct dde link functionality. I can get this if I learn how to program aCtive x using visual basic. Staying with my firm, in order to get DDE link functinality, I can either switch to redi plus (ive used...

Aren't you the guy who posted a thread in which you CAN"T GET AN APARTMENT on your own? Well, in that case, I am so glad you "chimed in" to help all of us out here at ET. We surely can use your expertise.

Can you just cut off all the posts in this thread after the First one, and then bronze it or something?

Can you just cut off all the posts in this thread after the last one, and then bronze it or something?

The 6th trader worth studying is, as two or three mentioned, oneself. Making 10, 20, 30 million dollars is absolutely possible for everyone here, through trading. If you have a great life, does it matter if you are a billionaire or not? Trading is an occupation one can carry on until...