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Do you think that the hedge funds have huge advantages over the independent trader? Maybe in some respects. But, overall, having assets under management of <$10M is a huge advantage over them. In many/most cases, the size of the hedge funds is their downfall. If they see a bad trade, do...

Yes, for me anyway. No comparison. The volatility was great in those days, but many disadvantages were also built into the system for traders. Commission rates were much higher (I was paying $21 per ticket, plus up to 1.5 cps in ECN fees). In addition, transparency and 'fairness' was...

No offense intended, but you might do better with your trading if you spent more time focusing on it, and less time posting on ET. I have to agree with Dustin and some of the others => for me and most of the traders I know, this has been the best start for a trading year in the last 10+ years...

1) Assume that: - all of your positions are over one year old, - you sell them all, - the net profit is breakeven => You will owe zero taxes. 2) If, however, the net P&L was profitable, then you will owe long term capital gains taxes on the net overall profits (note that closed...

C'mon, now. If that were true ("excellent fundamentals" and only falling due to nasty market maker "manipulations"), then your friend could just double up and buy even more of the fantastic company at 'bargain' prices. I think the lesson he/she needs to learn is to never put on a large...

I'm not sure I understand what you're trying to accomplish. Probably the best way to avoid a market maker fill is to deal with a direct access broker. Discount brokers, such as E*Trade, Ameritrade, Fidelity, etc., typically send all of their order flow to market makers for execution. That...

FWIW, I've got Comcast (and their HD channels) and the Wall Street Warriors program is on their channel "INHD" (which broadcasts Mojo stuff). If you're using Comcast (or anything else) and have access to the INHD channel, then look for it there.

I think any serious trader already knows that. But, it might be helpful for the extremely green newbies that don't know any better. Similarly, you might find that same 35k car, with all the same bells and whistles, being sold at another dealer for $44k. And that dealer might tell you that...

You occasionally point out that over half your traders have been with Bright for over 7 years. That being the case, you must not be getting many 'high volume' (or lower volume) traders from other firms. Spin it however you'd like, but vast majority of successful, high volume traders would...

Not sure why your 'example' hedge fund is not able to move to a cheaper broker. I ran a hedge fund for a couple of years, traded the capital through a direct access brokerage firm, and was paying less than half of Bright's commission rate at the time (much lower than that, currently). So...

Dustin dates to May 1999, and continuously active since that time.

Exactly. I nominate you for moderator. LOL From now on, all posts must include audited financials and tax returns. Let's make for some "serious" discussion now, folks!! We'll have excellent traders coming out of the woodwork in no time! :eek: As an alternative, what would you suggest...

Actually, no. The guys in the (private) chatroom I hang out with are pretty amazing traders, IMO, both in terms of profitability and consistency. Several are up over 1M YTD now and will likely be up multiple millions from daytrading by year end. Granted, anything is possible, but I'll...

I will be at the Expo this year. Would be nice to run into some experienced traders from ET.

Yikes, where to begin? Mschey is right about this one. Sorry, surf, you haven't got a clue. Trading will never be a business where a huge percentage of participants make a fortune. It never has, and it never will. However, a lot of traders that I know believe that we are in the midsts...

On a commission 'per ticket' deal, you are charged a fixed commission rate based upon each executed order, regardless of the size of the order executed. Depending on the deal, the broker may or may not pass along the cost of additional fees, such as SEC and ECN fees incurred on the executed...

"then" should be "than". Let he with no grammer errors cast the first stone.

+289 Congrats on the new record day, Lescor (and others)!

I can't comment on how well the company will be able to scale. However, as a Genesis client for 3 1/2 years I can say that they have the best API that I have ever used. I had over 850,000 filled orders through the Genesis API last year, so I'm not just speculating based upon limited...

Looks to me that the trading day 'ends' at 3:15 PM. In other words, if you make a trade anytime up to 3:15 PM on a Tuesday, then it will close on Tuesday. Then, they have a 15 minute period of downtime, and at 3:30 PM on Tuesday, for example, they will open the trading for the start of the...