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Here is my advice and it comes from part of my experience. First, cover your expenses and standard of living. Expect no money from trading, your best focus will be on the skill of trading. If you have never made a lot of money before, then you may need to work on that issue and have to...

What is a career troll?

Having said that...in 1999 i traded a company called, damn now i forgot. Somehow got involved in a class action suit and I won like 120 shares.....they mailed me a stock certificate, I counldn't cashi it in at my B/D pro place, so I opened a TDwatersuck account and the next day sold it. The...

RU KIDDING? Both are toy/ brokers for people who don't have a local casino. 10.00 a trade? for lame 2:1 margin? how ridiculous. Those commercials with that dude from law and order or NYPD blue whatever really make me laugh. That guy has NO IDEA what he is talking about, although they...

I learn from and contribute where i can to this site. Best place to find specific information on our profession. Congratulations ET. Thanks for all the info you have given to me.

The question may be designed not to query your knowedge about that specific book directly, but to see if you have things in common with their "typical" employee. Did you go to high school, college, where, did you read, what, who were your friends, your parents, etc. In other words, do...

if you are looking at and doing what everyone else is doing...you are not looking at a lot of money in your pocket. For example, a pair "returning to the mean" is but one in and infinite number of potential trades one can enter. Also remember that in any directional outright trade...

So how does ECHO address ECN rebates?

Its not a monthly commission rate. The ECN rebates come in at the end of the month. For example: If your rate is .005 and you add liquidity (using ECN rebate of .002), the firm will charge you as if you took liquidity (making it .003 charge for taking liquidity plus your base rate .005 so...

thanks for that link to your post. My next question is....am I really getting screwed if I am in a situation where I get my rebates at the end of the month, instead of daily when my trades clear? Who has the end of month rebate and who gets them daily? My firm told me that the ECNs pay once...

Pass through ECN REBATEs are only a good thing if you ADD liquidity...if you take...you pay like .003 MORE per share....so why is an ECN rebate even worth it. If you can't add, and have to get out of a trade, you take the hit in costs. THis sounds like a totaly scam.

So you have to keep track of every trade you get a rebate on....????? So you have to go through your trading sheets every day...then again at the end of the month to make sure you get your rebates....that sounds like a HUGE waste of time...is it really worth it. Can someone who does the...

If I could distill the essence of trading, good to great trading, this is the key concept. If you feel yourself sitting in a trade and its eating at you, get out. Look for the next pile of money thats under the next rock, and go pick it up. If its not there, look somewhere else. The more...

This resonates with me as I negotiated my first prop account since trading for a fund. The largest component is the relationship between fees and capital. However, each one's specific business attributes are different. I proceed to trade knowing that I have a larger part of fixed expenses...

I like how you let your equity tell you when you could trade full time only. You were not undercapitalized in trading 8K because you had a full time job and a good support system. I think there are other factors that we could consider "capital" besides cash, that are important components of...

I see and hear about undercapitalization in many business fields. I hear it a lot in trading offered as an excuse for failure. In my opinion, there is really no such thing. AT least thats where I wanna begin this thread. If you have a good system, and its scalable to absorb the risk you...

Buzz Swartz started with 10K, built it up to 100K, then ran his business as a trader. While he ran it up, he had a wife that obviously supported his efforts. You don't really need the wife (they are expensive) but some kind of plan to give you the time/mental space to learn the skills of...

Yabut....Yeah BUT....only an @#$ing idoiot would NOT put everything they had into something if they knew they were good. And with a prop firm, if you are a good trader who can use the leverage with discipline , your capital input is not subject to market risk as much at it is subject to firm...

This is pretty much true, if the traders who compete against each other use EXACTLY the same exact strategy. But, if you developed a successful system using dsl, dial up, smoke signal, etc....there is no cause to believe that being faster will make you more successful. In fact, it could...

The Feds so kindly "urged" me to redo my tax returns for 2001 and 2002, my second and third years trading. I was happy to redo them and zero out my supposed debt to them. I was happily surprised when a refund check for $4k came in the mail the other day, courtesy of the US Treasury. It was...