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Get a real job and save up six months living expenses before you start trading full time. It's probably going to be at least that long before you start drawing a regular income if you are good. And with high commissions and a low payout, you will have to be very good to net enough to make...

Are you using FirstAlert? This is the only software I've seen that can filter the whole market looking for these kind of criteria (haven't used RealTick, so I can't comment on it). If so, the manual that comes with the software has some pretty good canned filters that sound like what you...

I always use 1% irregardless of how the market is poised to open because my fair value numbers already account for any gap. I'm starting to adjust the envelope per stock for some of them. For instance, I haven't been filled on IBM in 3 months, and have only had one fill on MMM, so I'm going to...

My cheapest stock is emc at 8 bucks, up to mmm at 130. I adjust my share size accordingly. I definitely get more fills on the low dollar stocks, but if they yeild a positive expectancy I'm happy to take it. My most consistent winner is under $20. Today was my best day since starting oo's...

Make your own. The kits are simple and it tastes at least as good as anything store bought. Less than $1.50/bottle

what firms eat this cost? I never paid it with IB. I've averaged 25000 shares a day this month and have paid almost $300 in SEC fees on that. Are any firms that used to eat the cost planning on passing it through now that the rates have gone back up?

Perfect example of why oo's work. Probably an institution with a large buy order on the open. They know they are going to pay up for the stock, but what's a buck or two when you are looking for bigger moves over longer term inside a fund? The specialist knew where the realy buyers and sellers...

All your questions can be answered by reading the two threads entitled "Don's opening orders". The idea is to get on the same side as the specialist on the first print. If he has a buy/sell imbalance at the open and is forced to participate in the first print, he's going to open the stock far...

The fact that we just came off a weekend and that Don is away probably has something to do with it. I was surprised to only get one fill today. Scratched it, lost commissions.

After a long fill, I'll step in front of the current bid by a penny or two and wait. But that little pop up in price will sometimes attract some buyers who are thinking it's the start of a little momentum move and they'll want to be inside bid so I get pennied. Sometimes the offer will come...

Sure, it's called enveloping, and I do it all day. It's hard to do with more than 2 or 3 stocks, because you are always adjusting bids/offers. I just sit x cents below the bid/ above the offer. When he moves the bid/offer up or down a couple pennies, I cange my order by the same amount. If...

I think a lot of that depends on the specialist and how he works the order flow for his stock. The big advantage to trading one or a small basket of listed stocks is that you can learn the patterns of a single person, which tend to be repeatable. For example, in one of the stocks that I trade...

4 weeks? I'll believe it when I see it. There was a link to a magazine article posted here recently that made me think these things are never going to get off the ground. The lobbying by the groups who don't want ssf's seems to be working and the roadblocks just keep getting thrown up...

Things have changed since then. As I understand it they now offer real opening only orders, meaning if you are not filled on the first print, the order cancels automatically.

Right now I'm trading an extremely highly correlated spread. I buy/sell one stock based on the actions of the other. But the specialist knows this game is being played with his stock so he almost always shows 1x1. When the other stock starts to move and you try to nx the offer, he only has to...

I'll second that. He doesn't direct puke streams with any kind of accuracy, and he's damn heavy when you've got to carry him.:p

I agree with Robert, you can only share so much information before it starts to impact your own bottom line. I have some thin names on my opening orders list and the less people firing in orders at the same time, the better for me. But I've learned a lot from this site and enjoy sharing...

You are right. Today's number was -.533. 75 cents on 8 fills.

Fair value numbers will probably be different for everyone, because not everyone pays the same interest rate. As long as you're consistent, I don't think it matters. I use the number published by programtrading.com rather than calculate it myself. I take the current futures price (emini 5...

I took all tech off my list and made 32 cents on 6 fills. The only two losers were the two longs I had. Still used a 1% envelope on both sides, as usual. When the futures started to climb further after the open, I canceled all unfilled short orders. Corey