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I can only speak for my firm, everyday there is a top 30 list before and after commissions, the difference is at least 20%. I just did a calculation for yesterday's list and it was 25%, and you would assume people who finished top 30 had less churning. As far as NEWP is concerned it is 1...

First of all as a true day trader you do not talk % ever, when you don't hold overnight ever you need to take whatever you can off the table. Keep in mind I am paying bills and saving up toward a condo next year so everything I do is about minimizing losses. Everyone here pays a lot of...

Yet another difficult game, I had a horrendous open with the bad bullets and missed energy sell-off completely, I wasn't watching when the market pulled a massive rally at 1PM either, the least likely hour for a big reversal. Fortunately I had the defensive mentality all day, eventually came...

500

The average doesn't mean anything, because 80% of the money goes into the hands of 20% of the players. That said, based on what I have seen in my firm: I would say 100K a year is the line in the sand that separates those who have truly arrived and those who haven't. Only then one can call...

Being an alcoholic is not anyone else's problem, you ruin your life if you don't change. Being an undisciplined trader is not anyone else's problem either, you blow up if you don't change. In both cases, ultimately, it comes down to the person him/herself, and no amount of treatment nor...

Grey: You have to sacrifice SOMETHING to get a nice home and a nice bank account, in your ex-case, it was private time and personal life. You made the type of money you made, because you put in those hours, nothing is free in life, nothing is easy, and no one has the PERFECT job...

My point is none of this advice is going to help next time he gets into a trade, he will do what his mind tells him to do, and everyone who is disciplined learned it the hard way, no other way. Basically, you touch the stove enough times, you know it is hot and you JUST DON'T TOUCH IT AGAIN...

It is not that difficult to find another analyst position after you get knocked out of the first one. It is not a dream job, but I am being realistic, it is a much better choice for anyone with an elite degree. I have a friend who graduated from Cornell (good school) and he started at...

I am a trader, and I too live in New York, so tax and rent also applies. The top four field in term of income, FILM (Finance, IT, Legal, Medical) all requires serious commitment (except IT, but then again IT doesn't pay as much as the other 3), anyone who wants to make a few hundred K a year...

Nothing can teach discipline, you learn it after enough blood is shed, or you die. No book, no instrutor, no one except yourself can control yourself, JUST DO IT.

Bullets, opportunity to work with traders superior to anyone you have ever met in those chat rooms, margin to trade bigger size than you possibly can on your own, someone else to maintain your equipment / software. Not to mention, think about it, a super size trader at my firm has like 35K of...

Being a prop. trader myself, I started last October and it took me 3 and half month to get even. This year I am up 52K so far and since I have worked at GS, MER, and Saloman before, I have to tell you that I have passed the point of no return for so long that I don't even remember what it looks...

I can not speak for a swing trader, but if you are a day trader, let me be honest without sugar coating anything: Thank God if you are flat after 3 months, appreciate if you break even after 6 months, you are guaranteed to lose money and get blown out, and your sole purpose right now is to...

Very tough game if you weren't short when the Anthrax news came out. Frankly after that point, there were more important issues to think about than trading, so the rest of the day was just pure churning for me, as I was short into the final hour. This is the kind of game where your...

My firm is offering MoreTrade (I used that, no daily scan, only intraday, sucks), Insight (sp?), Whisper and First Alert. I am heavily leaning toward First Alert, I used to be a programmer so I like EXTENSIVE functionality, is it the best?

It is funny how today was a carbon copy of yesterday and I made more money on the downside than I did on the upside. 6200 shares each way on 5 of 8 shooting, +1161 before commissions, +952 after . . . 1 bullet. Throw in the fact that Tony Oz, the author of 3 mega popular trading books...

Mr Oz: Really appreciate your contributions. If I seem harsh with my comment it is just that I am eager to learn, please do not take it as a question of your wisdom/experience, although I have always been skeptical with people who write books and give seminars (hey I just want to be...

Easy as pie day but I was not aggressive enough after the first hour, left way too much on the table today but after yesterday I was not very aggressive. On any super rally day if you missed the initial move it is very hard to jump in later and once I realized I got out too early there were no...

I always do limit, but I specify a limit 10-20 cents higher than the offer if I want to get a fill no matter what. This way I limit my slippage. I play the open extensively and getting a bad fill at a top print can be fatal.