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You may not need a prop firm, since commissions are less of an issue for you (doing that many trades). A per ticket deal may even be cheaper for you. As far as the leverage, you should realise that aside from the fact that they make less $$ on you, your longer holding periods are more of a...

Drama queens! If you don't like the firm, walk.. Very simple. Whats the big deal! If you flame them on ET it's pretty obvious you went broke and are trying to blame them instead of yourself..

Check out GTT http://www.greencompany.com/ Some good info there even if you don't retain them, also look into the LLC/mini 401k plan, lets you deduct quite alot for a retirement plan.

And if Im making 20k a month, why would I give you a cut of the profits when I can keep 10k in the account, have no downside beyond that, and if I lose it, I can make it back in 1/2 month. No up front capital deals are for rookies and losers!

What's the matter with L2 scalping and rebate trading! The opportunity has been there to make excellent money for the past few years while most of these NYSE and momo guys have been either closing up shop or bitching about the specialists every day! Also, why are people looking for no up...

Remember, man looks in the abyss, sees nothing staring back. At that moment man finds his character, and that is what keeps him out of the abyss.

Alot of the debate on efficient market theory is irrelevant to the daytrader, as is whatever intrinsic value of these securities exists (if any). Rather we should stay focused on price movement, which must be predicted to some extent. Not what people think about the value of a security (this...

Taking Liq I can't imagine anything faster than IB's SMART route, cause when TMBR (IB) fills you internally it is incredibly fast. Next best, I agree ISLD is the fastest of the ECNs, although they all have their uses in certain situations. I have found SM to be fast also. Of course, if there...

Understandably, they asked me to keep it quiet. I suppose they don't need everybody calling up and demanding the rate that some guy on elitetrader was posting that he was getting. Doesn't matter what this person or that person pays anyway - YOUR rate is going to be the best you can negotiate...

Can't say :) IB and Tradestation does the same thing, where basically - larger size orders get the discount on some of the shares. I found it a problem getting filled on the entire amount on larger orders, so the rate ends up being somewhere in between - depends on your style too I imagine...

Nice insight. Seriously, let's get some ideas going here. I know people on this board have more to offer than whining about specialists and MMs and the SEC. I notice the one word post has become very popular here too :)

I haven't read anything on this topic, but I have observed that when you have an edge, or strategy that is consistently profitable, it seems that the larger the profit expectancy, the less often the opportunity appears. ie opportunities with a profit expectancy of .02 appear more often than...

So you are encouraged to do larger size trades. There must be some advantage to Bright, SLK, and/or the exchange for you doing that, for them to offer the lower rates, and you should be getting in the neighborhood of .004 rate regardless of share size anyway.

Echotrade

Doing volume for volume's sake isn't good nor evil. It depends on your style of trading. If your goal is 1 penny a share profit, but you can apply that edge so often as to do 20 million shares/month and your rates are low enough, there's nothing wrong with that. You may have a 10 cent per...

+.02 profit/share sounds easy enough when scalping, its actually .04 per trade when you figure both sides of the trade, and it ain't always easy. It's true the one big loser will wipe you out, but I would also stress the importance of pyramiding/pressing (or whatever you want to call it)...

There is hope, and I think safe to say, new opportunities for the daytraders here, since one can learn from what these computers are doing and adjust to take advantage of it. It being more difficult to predict the actions of the "live" human traders making arbitrary decisions. I'm all for...

I think "program scalping" refers to the automated market making being in OTC stocks done by the big firms now (Schwab, for instance). It is implied that computers instead of humans doing the trading is somehow superior and makes it tougher on the daytraders out there. Even saw in Active...

I charge $5000 for a week, just so I can see that they are serious about wanting to learn. :p Very reasonable considering the value of the information they get. Of course I give all of that money to Gamblers Anonymous.

If you want to be happy, you will define success for yourself. If you try to live according to someone else's definition, you are probably going to be unhappy in life.