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Does that guarantee that it won't happen in the future? :)

Speak for yourself please. Electric was one of the first people to welcome me to this community, and he offered and sent me useful reading material at that time..he probably doesnt remember, but i do and i appreciate his contribution.

Its just an arbitrary number from the dark side of my imagination..Do you think we can safely discount the possibility that the market can drop 75% in one day? :)

So you accept the very small possibility that you may lose 75% of your net worth if the market crashes 75% on a weekday, correct?

What profession is that if you dont mind me asking? Do you buy puts and sell calls to offset the cost of buying puts (ie a "collar") or do you just buy puts? Out of the money ? at the money? Also how do you determine how many you need to buy to cover yourself?

I think if youre in the market most of the time, the probability of a market crash happening at some point during your lifetime is not negligible at all. Also, i think we cannot assume that execution quality in a market crash will be anything like the execution quality we take for granted on...

Ok, not holding over the weekend protects you over the weekend, but im talking about an intraday market crash during regular market hours

Does anyone here hedge against a total intraday market crash a la 1987. If so, how do you hedge? If not, whats your logic in not hedging, and especially if you are using leverage?

depends on your trading style, but in some cases, having crappy equipment can cost you much more in losses on that one day its gonna fail you, than spending a couple grand to make the upgrade..im sure youve heard this before!

Regular DAY LIMIT orders placed on SM can participate in the cross (no flag needed), but theres a distinction between placing before 9:28am and after 9:28am http://www.nasdaqtrader.com/trader/openclose/openfaqs.pdf

lescor: lol, yea ive been building up my credit rating for these kinds of days..it seems the firm im with are anal like that, if i exceed my bp for even one second, they issue a daytrading margin call and they want me to deposit funds, but good to know there are firms out there that are a bit...

How do you guys deal with the uncertainty of getting "overfilled"? Suppose my firm extends to me 30:1 for order placement and 10:1 for actual positions. If i place 30:1 worth of orders (15:1 long, 15:1 short) and then end up getting filled on for every stock (either short or long) ie higher...

What about Supermontage? Anyone know if you can get traded through if you place a limit order on Supermontage? Thanks

If i want to place a passive limit order, and prevent the possibility of my order getting traded through, what are the best routes to use? With BRUT, my passive limit order gets automatically re-routed to another ECN if that ECN tries to cross the BRUT quote, and i get filled. This...

Maybe you can still ask them to look at what happened that day to your MOC order (ie when exactly and why it was cancelled). Note: there is one case i know of in which a MOC order will not be filled, and that is if it is going to be executed more than 10% away from the market price just...

Sanjuro: IB is working on fixing the problem where u get liquidated just before the close then your MOC orders get executed and you end up with unwanted overnight positions without being able to cancel the MOC...

Thanks Don, how would i go about "checking balance sheets of any firm"?? What shoudl i ask to see, and what numbers should i look for? I think that would be quite useful to know if indeed one has the right to see that kind of info when joining a new firm..

What does that mean: "The firm isn't extended"?

http://www.qcharts.com/matrix.asp?soac=

Which firms can provide a non-licensed trader with 30:1 BP for placing orders only, and regular 4:1 pattern-daytrader BP for actual positions? Also how long do you have to be trading there before they provide you with that kind of BP for order placement? Please PM me if necessary..