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Huh? In that situation you lose 100%.

I've had this discussion a few times. IMO your prop return should be based on average bp used. There's not any easy way to calculate this, so the user just has to estimate. So on the $40k account, if he's using $200k/day average then you are around 50% return.

$222k for a guy running one of the biggest trading education companies really isn't very impressive. He probably made a lot more on subs.

You answered your own question. Profitable day trading has very little to do with the things you mentioned.

Been here since '99. Like someone mentioned, Lescor is still around too. About half the guys I knew 10 years ago are still trading today, but most of them aren't on ET anymore.

PM me anytime. Yes, we all trade full time as our only source of income.

A group of us ET'ers started a mIRC chat around 2003-4. About half of us are still in there on a daily basis. It's a small group now of 8 guys, but I can't imagine waking up and trading without them now. So, yeah it can done, and worthwhile. Now we are on Slack which works ok, but it's a bit...

Skill is an edge.

So, by your logic, an edge is something that only non-retail traders can obtain?

If this were true, none of us would be here.

I'm pretty sure the PnL's he posts on his twitter are real, but either way it's not that impressive. His strategy is just shorting momo penny stocks. Guys like this are a dime a dozen, and usually get blown out at some point. Halt and gap risk is huge in this type of trading.

From the looks of it they short low priced stocks into momentum, one of the riskiest styles out there for new traders.

I agree, LS has been rock solid for years. I lost out on a small fortune during the flash crash due to my old platform freezing up, a solid platform is priceless.

$1m bp for a good trader with $25-50k down was very common 5-10 years ago (think Bright, Assent, Tuco etc). The prop industry has really consolidated due to a failing biz model, and it's harder nowadays to find that.

Your broker does not have anything to do with the price you are getting. The market price at the time of your order is the price you will get. Whatever you are seeing on the demo is an error, and yes too good to be true.

IEX router can aggressively take all the displayed and non-displayed liquidity. It's pricey but you get your fill. I have a thread about routing here from yesterday: https://www.elitetrader.com/et/threads/lets-talk-routing.305390/

You aren't a daytrader, so most guys here aren't going to think like this. Personally I look at monthly and yearly PnL. The most important is average annual income from trading.

Yes, I currently use it through Lightspeed.

I've used the LSPT routes, but they can't match the fill rates of IEX although they are a little cheaper.

Are you a momentum trader? That would make sense to pound in. What route do you use to take?