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Why would use Knight as a point of comparison? Market Cap < 1 billion... And shares that went from $75 to $3 only a few years ago. Which is total mismanagement on top of a shaky business model. IB is still very much a growth firm... And their management and strict business model is the...

--------------------------------------------------- Options are not a zero sum game like stocks. One guy can buy a call and one guy can sell that same call to him and they can both be right and make money. ---------------------------------------------------- This is nonsense...

Customers trading large blocks of options... Are, by definition, sophisticated... likely professional traders. So if this practice "increases Customer satisfaction"... Because previously the liquidity was NOT being provided by the markets... And freaks out the MMs and Specialists... It...

Nice try. But the manual abacus has long since been replaced by the electric abacus. In fact... Apple sells the iAbacus in China... Which is a combination cell phone, music/video player, digital camera and rice bowl.

You are making a completely artificial distinction. You are making directional bets with YOUR money ALWAYS... And whether you are up or down... has no relevance in terms of any future bet. This is really not debatable. Your points only make sense as applied to "gamblers" in the short...

My sense is that the "savant" thought process is very ** linear **... That is... focused in one very narrow direction... Like memorizing a phone book. This is the opposite of "genius"... which involves ** lateral ** thinking... Meaning that an exceptionally talented individual draws...

I completely disagree with this. I've made about 400,000 trades over 12 years... And manage 7 figures, etc, etc... But the hardest thing I have ever done... Was complete a hardcore 4 year Computer Science degree at the University of Toronto... That was very heavily skewed towards...

No... But major league baseball teams... Often hire "savants" to study opposing pitchers and signs... Because they can predict the next pitch and location with great accuracy.

Your question... is just as ridiculous as asking: How long does it take to become "proficient" as a neuro-surgeon? How long does it take to become "proficient" as a trial lawyer? What on earth gave you the idea that software engineering... is a hobby? And that hedge funds hire "hobbyists"?

Thanks for the link. Does anyone know why low end vendors INSIST on charging you the NYSE fee? All reputable, high end vendors just tell the NYSE your subscription dates... And you deal directly with the NYSE where one has an account? In constrast... Low end vendors take on the high...

This is the dumbest thing I have ever read at ET.

Well... We now know that you are a whore... It's only a matter of negotiating your price. So you won't "suck dick for $5 a pop"... But you are DYING to suck much bigger dick for "350K/year". OK. We understand. That's Wall Street.

You will not learn anything useful in "business school"... That will make you a successful trader. You would be MUCH better off... Spending one year playing poker against strong players in Vegas. In fact... The sort of person that would chose "business school"... Over obsessive playing...

You are absolutely correct. But market volatility has plummeted in recent years to ** historic lows **... So anyone selling volatility has had outsized, windfall profits for about 4 years. This is not predictable... So I would completely ignore the great performance of people like...

Great post. But from a purely mathematical point of view... I would dispute some basic premises: "good stock pickers... really good at stock picking" The underlying premise... Is that large cap stocks are traded inefficiently... And that these "inefficiencies" can be exploited medium...

This says a lot about the idiots trading options. Semi-intelligent n00bs with a good grasp of high school math... Invariably chose the "sexiest" market like options... And then proceed to bleed to death... Real slow over time. The variance they are up against... Makes it impossible for...

It's hard to dream up a greater irony... Than holding "journalists" at CNBC to even the lowest "ethical standards". The entire network is a FRONT for the NYSE and the Securities Industry Racket... And roughly 50% of all programming is total reeking garbage like Cramer and Gorilla ads...

Serious players run black boxes at around 1 ms latency. You probably do not want to be competing with these guys. See page 4 of this thread for rough costs to play if you must: http://www.elitetrader.com/vb/showthread.php?s=&postid=1264471&highlight=latency+ms#post1264471

This is actually a very good answer. Most people here just ** completely miss this **. If you have a deep understanding of certain, correct KEY TRUTHS about the financial markets... And the talent and training and drive to apply them properly... You can develop endless profitable trading...

Yes... It's a long/short stock portfolio... And an elaborate form of "pairs trading" better termed "basket trading". I make 300 stock trades/day... And about 1-2 futures trades/day for hedging purposes. I do not know how to trade futures in such a controlled manner... But I personally...