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Not sure which makes less sense, saying that you miss out on morning gaps by being short (implying that gaps only happen to the upside) or saying tommorrow should be a very good day because of a tiny uptick in futures less than three hours after the close (not that it matters, but the S&P...

And so are the fees....

Double Amen.

Will it be relatively easy for you to find a similar job down the road if trading full time doesn't work out? If so, it makes more sense, assuming you have enough money outside of your trading accounts to live off of for a couple of years. Either way, I'd first try taking an unpaid leave of...

Any attorney with experience won't have to create one from scratch, they'll use the templates they have and customize it for you- a lot of the language is pretty standard. It'll still be a little more expensive than just having them review it, but worth it, IMO.

Yeah, every day for the past 4 years. Another brilliant post.

I think you must have a very high success rate to use these parameters. You'd need 5 winners for every loser just to break even. If it works for you, go for it, but it seems like an awful lot of risk for a minimal gain.

There has to be more to the story, no? What is the initial lawsuit even based on? It looks like these guys were smart enough (lucky enough) to get out before the fund tanked. Like the one guy said, that would be like asking people who sold a stock that then went down afterwards to give it...

Of all of the things that I've ever heard about taxes in the U.S., being too low has never been one of them. We waste billions of dollars on crap, raising taxes is the last thing they should do.

I'm still waiting to hear someones definition of "dip", and how long they hold things for. Has the last 3 days not been a big enough dip for you? When would it be? It's pretty simple to come on here saying dip buying is free money after the fact...

What are you talking about? One of the things I find funniest about all of these "Free money" threads is the idea that there is a textbook, unquestionable definition of "dip". When exactly do you guys "buy the dip"? When it's 5 pts., 10 pts., 15 pts., etc. in the S&P? Let me guess, you buy...

You're still predicting, based on your "edge", that the longer term trend will continue every time you buy the dip. Just because it might have a greater than 50% chance of happening doesn't mean you're not predicting. Every time you place a trade, you're making a prediction of some sort.

By buying the dips, aren't you predicting that the current underlying trend is going to continue? I mean, you're predicting that the "dip" is over and that we'll continue to go up from there. All trading is about predicting in some form or another. There is no Holy Grail.

I'll try it one last time- it depends on the size of the deposit and the trader's risk profile. If a trader (or group of traders) has a minimal deposit, that's not much protection for the firm. There are traders out there who didn't have to make a deposit, and plenty that only have a few...

If I'm not mistaken, Bright only pays out twice per month. Again, there are reasons for it. You're right, if you have a substantial deposit (like Bright requires), there's much less risk involved for the firm. But, if they only take $5K (or some that don't require any), then there is a lot of...

Exactly. Obviously, traders are going to want more flexibility, but there are reasons why some places only pay out once or twice per month. First, it's about risk- if they allow a trader to empty their account whenever they want, the firm is on the hook if that trader has a bad few days or...

The current tax code is an absolute nightmare, but I don't see any major changes anytime soon. Too many people would lose their jobs, including many government employees, if they actually simplified things. I'm not sure how a tax on one specific thing, like gasoline, would work. It would...

Yeah, I thought this was a joke at first considering all of the "doom and gloom" you've been posting...

Yes, there are probably more people who run/trade for hedge funds on here than you think. My point is, unless you have family money or big time connections, it's going to be nearly impossible to raise money from strangers with zero track record. Don't take this the wrong way, but why would...

It's pretty simple, actually. Step 1: Raise the money Step 2: retain the money. Step 1 is all about sales, and you're going to have to be one hell of a salesman to convince people to give you their money based on backtesting. Step 2 is about performance and customer service.