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I would trust LBR's chat room more.

Just because he borrows money doesn't mean he has to use it. It could be reserve cash in case things do go wrong. Trading is a business and borrowing is a part of business. Personally, I feel it's important to have this reserve because of freak events that can occur. I don't think I need to...

It's obvious capital is a problem. Can you take a loan out Neo? My opinion is it's better to take out a loan at 10 percent instead of playing with too little capital which almost guarantees a loss. And if you're still too nervous...paper trade! Build up a solid record and then you'll be much...

I thought of a worst case scenario: the market does not bottom and people become sick of a crappy bear market. Volume goes down in equities and liquidity dries up as investors and large funds switch to cash. But people still need to invest somewhere. What's the safest investment in the...

ADCtrader: Please tell us when this period was and how you dealt with it. And what are our options if volume and liquidity dry up?

Great posts hitman. Your office is like a trading soap opera! About the energy stocks...How do you feel about an upturn in the short term for energy stocks? Do you watch what OPEC is doing or do you just stick to watching intraday movements? Just an idea but the Enron/Dynegy merger might...

My greatest fear is not a huge drop but a dry up in volume. If a lot of players stop playing, then traders will be in trouble. So far, I don't think that's the case. Volume has been good so far. But my back up plan is to trade currencies if volume does dry up in equities. Currencies...

Thanks for the graphic imagery Magna.

It must be a whole different ball game to trade 10 million intraday. How do you trade that kind of size?

CandleTrader Shit! That's a freudian slip. A thousand grand is what I made today in trading. You understand how it could happen... :)

Yeah but what's the percentage take home? 50 percent? 30? Still good though!

The videos might be worth it if you want to actually see and review how a real pro does it. Some people learn better by watching. And some people just like to watch but they're perverts. Just consider how many other people are buying the same strategy and placing stops and buy/sell orders...

What's the lesson here folks? Buying a trading strategy is like hiring a prostitute.

Were you or are you a Shonfeld trader?

Do they back traders? Like really hungry college students with little or no capital? How about it Gene :)

Thanks a lot trade555. Since you know a lot about the firm, let me ask what kind of trader they're looking for. Guys who make 200K+? 300K? 400K? Who do I need to sleep with? Who must I kill? What kind of performer do I need to be to pass through the golden doors into trader heaven? :)

I thought I would never be defending Bright. I visited a Bright office one day. The office manager thought he was the absolute shit because he traded 200K shares a day and his firm only traded listed stock. It pissed me off. No other prop firm had this attitude. But back to my original...

Hey Dem...why don't pivots work out of the pit?

Trade555...you already said that Schonfeld trades big size. Most folks 'round these parts don't really trade big size. We're mostly li'l traders. So if you do share these strategies, us hick traders won't be able to use 'em anyways.

What was it like back then? I came to this country around the mid eighties but I was just a little kid. What was the trading environment like? Did trading volume dry up? Was fixed income the hot spot? Do you see similarities between today's environment and then? It would be great to get...