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I studied market profile with Jim Dalton and Pete Steidlmayer in the late 1980's, but I was not making money with it. Then I got interested in it again in the late 1990's. The stuff Pete is doing now is light years beyond the earlier stuff. For the latest, see: http://www.steidlmayer.com/

The biggest advantage of trading with the specialist is guaranteed execution (..at a price). If you're trading odd lots, that shouldn't matter much.

It has already been pointed out that your risk control (i.e. stop loss) is faulty, so I won't repeat. That's probably the most important mistake. I don't know how you are coming up with a target price, but the target is likely nonsense. I don't believe there is any reliable (i.e. tradable)...

I like the ROC (ratio of price now to price some period ago) because, with ratios, I can directly compare two different instruments. I can also calculate a derivative ROC (i.e. ROC on something other than price, including ROC itself). There are all kinds of neat things we can do with it. I...

I do scalping, and I have found volatility to be the most important factor. I think NYSE stocks are harder to scalp, because you are competing with the specialist. Your profits come out of his pocket.

When to trade full-time is varies by individual. I am unmarried and willing to live frugally, which makes surviving the lean times much easier. If you have a job, I recommend keeping it until the recovery gets a little better established. It's a bit like wing-walking: Never let go of what...

Yahoo!Groups has an excellent discussion, with free code in the files section: http://groups.yahoo.com/group/TWSAPI/

Trade more size -- then you won't sleep a wink.:D

It depends on how you time your entry. Most people who buy pullbacks try to buy as price resumes moving in the direction of the trend. It's not always as easy as it looks, and sometimes you cannot get a decent pullback when you want one. In contrast, if you simply buy new highs (or sell new...

I just got a quote for ES at 1116.25. The value of one contract at that price is $55812.50. With a margin requirement of $3399, the leverage is 16.4 to 1.

This is my understanding too. However, I believe that it is possible to sponsor oneself. I think you would need a Series 24. Can anybody fill in the details?

Try this one: http://groups.yahoo.com/group/OISiliconValley/

The e-minis are seductive because of good liquidity, good leverage, ease of going short, and favorable tax treatment. Unfortunately, they are a very efficient market, and our profits come from market inefficiency.

I have been doing it that way too. So far, the IRS has not objected. I have heard that the IRS prefers not to get the detail, and I heard of one case where they said that in writing. I have also heard that they do want the detail. I have not heard of anybody being penalized for reporting the...

I have a similar problem, except that instead of Incredifind, I am directed to http://search.msn.com/dnserror.aspx?FORM=DNSAS&q=[URL goes here]. Does anybody know how to fix this bug? Thanks, [Richard]

I automatically save upgrade, downgrade, and install files, plus my TWS settings, each time IB comes out with a new build. It's not that hard once you make a habit of it.

IB's tech support is uneven -- some good, some bad. Their commmission rates are pretty good. Mostly I like their API.

Build 818.5 is reportedly the one causing problems. You can get a downgrade at the IB Web site.

I use IB, and I have not had any problems. I have read on other boards that the latest build is causing lockups. I recommend downgrading to an earlier build.

I just checked IB's short list, and it's running about 2500 for Nasdaq and 2600 for NYSE. I don't know how often they update it. It's about the best list I have seen. I had the impression that a stock has to be marginable to be shorted, and that stocks have to be at least $5 to be margined...