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You pay for what you get. IB has a real cost to it.

If you don't mind me asking, which firm? U remind me of some of the tradescape guys i knew. Never got to work for them though.

Well said!:D

Hitman, what you are doing is not only very legal, but extremely insightful and frankly noble. There are no legal issues in posting percentage of net profitable traders at a firm. If someone lies about the numbers at his firm, that is one way how he can get in some hot water with the federal...

I know some daytrading firms used to give net P/L figures for offices to give some idea of the success rate at their firms. But they stopped this practice due to the low net profits traders were acheiving (but still healthy commisions for the firm.) I doubt he will give percent profitable...

The fact is Don is probably a very bright and intelligent guy. You can't build a daytrading empire without being so. I think 98% of daytraders would rather work for GS. That's obvious. A much greater pay, security and frankly prestige. But why would a promoter of daytrading concede? He would...

Anyone know what government fees are for the emini?

Curious if anyone had info on what a typical equities trader would make at a top firm like Goldman Sachs or JPM.. lets say after 5 years. Would it be over a million dollars? Are there any particular websites that would give a insight to this?

Would also be very grateful for a list of clearing firms that can give low RT's on emini index products. Thank you.

Anyone know what happened? It was around 2:40.

They must be losing a lot of customer accounts for them to discount their commisions further. Just be careful they are in business for the long run. As a disclaimer, i know nothing about them.

Hitman, you are providing an invaluable insight to your work. Did you ever think about summarizing your experiences into a book for publish? I was wondering if you had a summary of your overall stats.. i.e. your net on 2001 on x number of shares and so on? I doubt many traders are doing better...

Do yourself a favor, get some real world experience in the form of an internship and such so if trading doesn't work out, you have something to fall back on that will pay the rent.

Anyone have an opinion on whether the standalone or browser based system interactive brokers has is more faster/ stable? Esp. for trading futures. Thx in advance.

Thanks for your input. U answered all my questions :D thx

I am not sure who to believe at this point. According to Def (which you posted the link), limit orders are sent directly to Globex. I understand stop orders are a different ballgame, but limit orders is what i really care about. I am at a loss. Does IB state somewhere whether limit orders are...

So you are saying Interactive Brokers hold my orders and does not input them directly into globex whenever i enter them? Thats a huge surprise for me. I thought the earlier i enter a limit order on IB, the better chances it will get filled cause the higher priorty globex puts on earlier orders...

I don't even understand the purpose of the large contract anymore. It just seems like the electronic markets are more efficient and accessible for investors, small or large.

Regarding Harbor Securties, does anyone know exactly what happened? I checked out their facilities a few years back. I was very impressed by the operation and the margin they were giving me.. but would like to know if anyone has the details on their downfall.

I don't know how any trader can trade 350 contracts at a time without holding it for a significant amount of time. Each tick is 7000 with 100k+ swings daily. Somehow this is hard to believe. Is your friend a famous trader?