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Let me see if I can help this situation. He is trading the prospective prop/daytrader REPUTATION in return for revenue generation! To some this is definitely a viable deal, it's a shortcut into a world that is relatively closed. His best catch will be a profitable daytrader who wants...

I prefer nasdaq issues for the simple reason that it is about as straight-shooting as a market can get in these times, pure open auction. The specialist system is, well, ridiculous. It has been since the dawn of decent electronic auction markets, but the NYSE continues to make up B.S. excuses...

Hey all, I've always found the workings of monetary systems to be fascinating. I ran across this article from Doug Casey, who I always like to keep tabs on (he's an independent research analyst, one of the better ones in my opinion). Anyway feel free to check out the article he wrote on...

I agree that volatility can be a big help for daytrading, especially for those with access to very limited amounts of capital. I do think however that the real problem for a trader such as yourself is liquidity, not volatility! I say this in regards to stocks available to trade with...

You know I am not one to do alot of post mortem on my trades (the veritable what if's..). I find that this is the death of pro's, pro's go down because they see the one's that got away and it starts to creat self-doubt and ignorance of probability. This is especially true for western thinkers...

I think the thing to keep in mind is, if you're printing money like it's going out of style, you are creating inflation period. The US is printing money and issuing bonds like crazy, and I've kept quiet about it long enough. The bottom line is, the fed can only ignore reality for so long. The...

I think the difference between day trading and longer term trading of futures must be better addressed here. 3k$/NQ for a daytrade is very reasonable if you are good and have reasonable drawdowns. Trading futures overnight..... well... I would say you'll eventually get a nasty suprise, even with...

Time and sales, it's the only thing I can really trust as far as the tape is concerned! Everything else (order size, market depth, etc..) can be mischievously manipulated (perhaps I am a bit paranoid due to NYSE specialists and level II games) by fish bigger than I. Transactions rarely lie...

My ESTX50 First Impressions: Well I worked my first order on the estx50, for a monstrous (ok a measley..) 8 points. With 3 contracts it doesn't even pay for a set of nice italian shoes, however it was a good experience. This is expiration day so things were a bit choppy but I saw the tape...

Thanks I will look into it! My concerns are always liquidity and range, seems like this baby has the range down, I'll get it up on sierra and see what kind of spreads and volume it has. Thanks again,

Rofl, well, I am somewhat of an insomniac... generally up most of the night, trade the us, then take a nap... very strange schedule (especially for an east coast trader). I'm used to boredom (hey, I'm a trend-follower, what more boring [yet if done right very profitable] strategy could you...

I assumed I'd eat the spread (which is nominal) on a EUR/USD coversion, but I did not anticipate they would charge me an FX trading commission! Hmmm... this is quite disturbing if indeed the case, I agree this means I'll have to take a chunk of my account and just keep in in EUR. Thanks for...

Thanks for the heads up, is there really any drawback to this other than having to click some extra buttons? Thanks,

Interactive Brokers

I'm going to dive in a and take a swing at the ESTX50, is anyone else here trading this instrument actively? I'm a nocturnal person and I might as well be working the market at night like I do during the day. Seems like this is a reasonable instrument to learn the ropes on before moving to the...

Nice work surf! I caught this ES this morning and mama mia somebody hit the bear-eject button on this market! I guess it's karma for BBI being so lackluster on any followthrough, and given that it might turn out to really tank on some broader market selling. I'm out the ES just a few mins...

Dumped this POS this morning for nominal gain, oh well take it down surf! I'm having fun with the ES today atleast. Goodluck!

The answer is quite simple! ECNs!!!! ECNs are the bane of the NYSE and specialists. However you or your friendly MM has to break up the order a good bit to work the ECN's properly. Another related issue is the immense pickup in "VWAP Orders", where the institution/big boy demands to be filled in...

We've got selling today in BBI, if buyers don't come back at this thing near the end of the day, I'm looking to exit either today or tommorow with unfortunately less profit than I had anticipated, but that's the way she goes. Will update later. Goodluck, -TD80

"Mixed emotions, buddy. Like Larry Wildman going off a cliff in my new Maserati." One of the best and most overlooked quotes in the movie by far. I would say I like the competition for the fact it will force the chicago boys to step into the brave new world of fully electronic exchanges...