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Someone on this thread referred to trading as a dead-end job. That sounds pretty depressing. But it would not be a dead-end job if one aspired to open an office and assemble a group of traders, right? Has anyone seen a successful remote trader start a successful prop office?

Thanks. I will watch them next Monday morning.

90% of traders lose, but numerically the 10% making money would still be a lot of business. Plus, profitable traders generally trade higher volume. Stock commissions have gotten so low at .003 to .005/share that it is practically free compared to the $25 ticket charge that was common in the...

It was a small office of Broadway Trading. The place went belly-up the same year I started. Is the NYC Broadway office even in business anymore?

I worked at a prop firm with a foosball table. After about 10:30 there was almost always a game going, 2 on 2. This is in a firm of less than 20 traders. They were actually paying us a small salary to play foosball most of the day. I saw a guy pick up his keyboard and start smashing it...

Can someone provide a link where his picks are posted? I see several Kramer pages at thestreet.com but I don't see updated stock picks. Does he make them late enough after the close so that most after-hours trading is finished? I would be looking for a gap & crap within the first 15-30...

Nice rimm job

Whatever. The problem is in how you apply them, not that they don't work. Do you dispute that the Fib numbers are found in nature in countless different settings? If not, then why should the ebb and flow of human crowd behavior be exempt?

Is there a risk of being wiped out by one giant move against you that happens before a stop order can get filled, due to illiquidity or slippage? Does Forex gap like stocks? As leverage goes up, the risk of being wiped out by a suprise move also go up, so what is a safe level of margin for...

Good question about the direct line. Thank you Genesis for coming on ET to answer to the criticism.

Sizable studies were performed by several entities to see if they had value. They had no better performance than other levels. In short, they don't work. Leonardo of Pisa is not amused. <img src=http://www.mathekiste.de/fibonacci/fibonacci.jpg \img>

oh, ok. That makes more sense. 10:1 is not very leveraged compared to the average individual forex trader.

It certainly reduces risk to have multiple positions, but don't you still risk a giant loss on one trade if you don't use any stops? With the high leverage of forex, it seems that using no stops at all would wipe you out eventually. Enlighten me as to why that reasoning is wrong; I'd honestly...

Do you not believe in Fibs at all? They happen every day all the time. That does not make them the key to free money, but the retracement levels are very real. imho, on an intraday basis at least, they are often best measured from the point where a big move began, often not the low of the day.

You're 30+ points in the green. Everyone should have these problems. Well done.

The time stamp problem was on my end; the L2 uses the time from the Windows clock, and mine was a little slow.

From the pre-market this morning, it looked like the IOC selling was not over yet. Seller(s) would sit on the offer and give out all the shares buyers wanted. By the way, to give due credit, IOC was one of Alan Farley's short alerts after yesterday's close on his web site...

Does your time at the top of the level 2 window match the time on your time & sales prints? My L2 time is always about 15 seconds behind.

Picking a bottom in the IOC? What do you see? I am lousy at trading reversals, so I'm wondering what you look for.

IOC was awesome volatility today and great trading. And stocks always move before news is released. That's just how it works.