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What about Walter :-) He may look like a maniac but he can also be your best friend. And non of that stuff affects me, it is business as usual here.

Monday woes continue as it was literally a carbon copy of Friday, serious energy move yet I could not score the way I did on Friday. A sudden collapse on energy after what seemed to be a solid breakout and it buried my hope of having a good day as I already missed the initial technology...

As for friendly competition, it doesn't exist on Wall Street, either we steal your talent or you steal ours. You have strong incentives to bring people into your firm, so do I, and I don't even have to be a recruiter to do so at Worldco. Let's put it this way, I have been with Worldco for a...

Where did you get the idea that Bright is the largest firm there is? I thought that title belongs to Schonfeld. Worldco has close to 600 traders nowadays and a lot of them never even heard of Bright. Can you tell me what is the advantage of Bright over Echo or Worldco for that matter? I...

Worldco has a SF office as well, while our firm does have its flaws, it is incredibly tough for any other firm to compete with us in term of raw deals, our owner is willing to beat anything and I mean ANYTHING the other firms comes up with, and that includes a fresh start if you know what I...

First of all there are far superior rookies than me, I have seen people with just 3-4 more months of experience than I do making double or even triple the money I am making, and I need to catch-up. My rates are: 94% payout, 1 cent per share, $0.60 per ticket (one time daily charge this is...

That's why I said no more than one down day a week in non-summer months if you want to be a top intraday trader. If the "unforeseen" event happens more than that then you simply haven't fully developed your skills yet. I have seen great traders shorting five digit shares into the surprise...

I watch the leaders off the open, for example, if CEX is up say 0.5% but not all of the stocks opened I keep my eyes clued on DD/DOW and see what they do. As the day progresses I watch the leaders less but any time there is a consolidation I watch the leaders to get additional confirmation...

As a newbie you will be hard pressed to find anyone willing to let your trade overnight with their money. There is NO firm capital involved with overnight positions, your own money is on the line and they will close you out if your account can't handle the heat.

There are many advantages to trading tier 2/3's, the specialists in those stocks are typically much easier and the tape a lot more readable, and when I do see a sector move I probably missed the move in leader already, and I still have time to get in a tier 2. The same applies to gap-up's, I...

I got in without a degree. They need you as much as you need them.

Swing trading is only if you have your own capital on the line, 10-to-1 margin is given as well as whatever you already pay for intraday commission rate. Intraday trading is the focus here. Save up as you typically won't be paid until 6 months into the game.

Neo: If you read my journal, you know I am always brutally honest with my opinion, that includes Tony's books, so do not be offended. You are in the worst possible situation trying to make it as a trader, and despite of what Tony told you, and assuming we can take everything he...

$700 sounds excessive, although everything I use is provided by the firm so I have no idea what stuff costs in those days, but I do know $20 sounds like way too little if it includes ISP.

I hate to say this, but if you trade intraday, there is just no way in the world you can make top tier money without a top tier set-up. Swing trading is a different story, but in day trading you need to spend serious money on a (or have a firm provide) good set-up. I don't consider anyone a...

To be the best of the best in this business I truly believe consistency is the way to go. The top ten traders at my firm all average no more than one down day a week in non-summer months, and they almost never ever have a down pay period, forget down months. And if you take his word for...

Gift energy run this morning as I sealed my first four digit game in a while. Wish I cranked my size up but as it is I can't really complain. 4200 shares on 5 of 6 shooting, +1458 before commissions, +1292 after, 1 bullet. The custom index (basket) feature in First Alert is useful but...

For real time sector trading, as it is my bread and butter, you have to have multiple monitors and put up multiple charts, by the time any scanner say the thing is up 1-2% or whatever and you flip through stocks in the sector for a position, the move is over. I have 5 screens now and 2 of them...

I can trade up to 3000 shares per position regardless of the stock, but I haven't done a single position of such size yet, because mentally I am not there. The big size people generally do 5-10K positions and for super liquid names they may do bigger. It takes a lot of time to absorb size...

Think about it, say you make 100K and pay 60K is in commissions with the 98% deal, you get almost all of it and that's 40K. The second deal your commission is cut in half so you have 70K left, but when you multiply it by 58% it is about the same. Of course, as you get better you will improve...