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Someone falling for this advice needs more than just trading education. Hmmm, let's see. We've got a couple of firms (VCM/Pristine) which have almost universal horrendous feedback about their ethics and value to fellow traders. Given this, a trader that would spend $3000 - 6000+ for their...

Go BATS, indeed. They have become an extremely competitive destination for order in the U.S. as well. For both NYSE and Nasdaq marketable orders, BATS average execution quality is better than their competitors (accounting for both slippage and routing fees). Although I've only recently...

I'll be there. Free drinks from Don sound good to me (or a Bright Trading T-shirt, as my current Expo T-shirts have seen better days). What do you say, Don?

RedInk: A couple of suggestions to make ET a more enjoyable and useful experience. Use the ignore feature to hide posts from wankers making predictions or hawking old Tudor Jones videos. Since I've started doing that, I've found this to be a much less annoying place. :-) The only...

I've posted a few of my good trading days, so it's only fair to post some of the crappy days, as well. The past 3 days have included two of my four worst trading days in history. As a result, it's been the worst 3-day period (and largest overall drawdown) in my trading history as well...

Do a search for "Oliver Velez" and/or "Velez Capital Management" on this site and you should get dozens of posts to read. You can kiss goodbye any money you give that firm for 'training'. I'm not saying you won't learn anything, but your best lesson learned will almost certainly be to...

Awesome day, Lescor. Congrats!!!

Yep, those were the days. I was trading commodities at the time. I remember that I paid $1300 for a new computer that had a 20 MB hard drive, and 640 kb of RAM (paid extra to get the 640 kb, versus the 512 kb of RAM that was standard with the machine). No internet at the time, of course. I...

Actually, that's mainly because it's much easier to identify top traders that trade for hedge funds. The hedge funds benefit from the marketing that the Traders Monthly article generates for them. Independent traders, on the other hand, have less reason to want the publicity. Truth be told, I...

I'll admit that the amount sounds excessive. But, let's consider this another way. Let's assume that you have a very weak financial company (like Wamu) that is seeking a new CEO. We find the perfect candidate, who is currectly leading a top company, and making $4-10 million per year...

Get a job, pay off your credit card bills, and continue to study the markets. Wait for 1-2 years, until you have no debts and $15k+ saved before you consider trading, IMO. Best of luck.

Personal best day for me. I've got to take a moment and give credit to the guys at Genesis, though. While several other firms were suffering with the rule changes, quote volumes or other issues, Genesis was rock solid again this week, helping to make this my best week ever. Crazy week...

This is the story, as I understand it. As of Friday, that fund had roughly $65B in assets (ballpark, I forget the exact number). However, they were holding ~$765M (~1.1% of assets, more or less) in LEH short term debt, which is apparently now worthless. The problem is this... On Monday...

Cramer, Maria and Bob Pisani are my top three. Both Faber and Rick Santelli get my vote for value added commentators.

Here's the blotter "Skeptics and Detractors" thread. It's actually a very good read, for those that haven't read it. http://www.elitetrader.com/vb/showthread.php?s=&threadid=101845

Sorry to hear about Anek's parents. With RedInk and MM posting today, I figured I'd post my blotter as well (for the first time since ~Feb). Crazy day with the FNM/FRE and then UAUA news. austinp: "Seriously, with no exceptions of anyone. Why don't all posts that claim profit results...

Let's be careful not imply that a firm's risk management controls are unimportant for a prop trader. Quite to the contrary, a prop firm's risk management controls are what keeps a trader's losses from wiping out their entire account, and potentially that of other traders. In the case of...

truthshallset, Would you mind answering the following question, posted earlier in this thread?

Huh? The stats aren't representative? Stats are inherently representative of what they are measuring. The majority of daytraders lose money. That's a stat, and it's representative of the cumulative P&L of the majority of daytraders. The OP for this thread specifically referenced...

I certainly agree that the majority of daytraders lose money. Very few potentially lucrative careers are 'easy' to master. If it <i>were</i> simple to become a successful daytrader, then the rewards (and potential income) for the successful would be much less. That said, I know many...