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knowing who is buying and selling in the pit can be helpful for a few ticks. When you hear "Merrill selling 1000 at a half!!!!", you can bet that you're gonna tick down a point or so, when it's a little slower the big locals can push the market around too. But 90% of the day is just choppy...

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I tend to use opening orders to get into my pairs to get good spread prices. In my experience hedging with pairs is a good option and gives you time to deal with the mess that you've gotten yourself into, I have had some pairs that were opening blunders or imbalances that i could not limit...

stop orders can execute for you while you are away, and can be set GTC (good till canceled) to get you into or out of positions. If you cannot monitor positions this would be a very good option.

there are pros and cons to each firm, from what i have heard from other retail traders, Interactive Brokers is very good. I traded with scottrade for several years, mostly longer term investments and it was fine for that purpose. You will pay hefty commissions when calling in orders, but if...

yes, risk management is very quantitative, and for success in my opinion should be varied according to probabilities. For the statistical mind like yourself arbitrage trading offers endless possibitlities.

trading afterhours is pretty tough, there is not enough liquidity to execute your orders at the prices that you wish. News events of course will allow you to get orders off, however, the prices may not be what the actual market price will be the next day. I would not reccomend trading after...

yes, the key i believe is that your management of risk when you are wrong is strongly set in stone. too many traders look at how much they stand to make and not how much they can lose. I like to trade relationships (arbitrage) rather than predict where each instrument will go.

I trade randomness everyday, and it is far easier to accept it than to try to predict it. Learn how to capture it and you will be able to make money everyday, that is the key to trading for a living.

the most reliable patterns i've found have been continuation type patterns like pennants and flags, if you aren't around to trade you can use buy stops slightly above consolidation areas for entry. I traded this way for several years before trading professionally, it will work great for you in...

trying to predict the market is a game you will lose at.

I have traded with Bright Trading since July 2007 and have no complaints whatsoever. The commission structure when you first start trading can cramp your style a little bit, however, after a good track record everything is negotiable. I went through a typical progression trading i guess and...