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This really makes me wonder also. I guess Fido does need a scapegoat publicly. But I also believe that the big guys are getting pissed at the specialists ripping everyone off, including the big guys. It's funny to see people actually defend the specialists. Put simply, it's a mafia racket...

How bout a complete lack of training or care about their traders? Or the failure to realize that it takes a lot more than 3 months to get profitable with high commissions. They put absolutely no investment into their incoming traders so what do you expect? Seemed like all they did was get...

MMs dont make much but the specialists will always make a killing (at least as long as they are around). These guys only have inside info all over and also control the direction of the price for months. With huge block position, you have to be a complete retard not to make money as the...

Pretty much, Thats the style we're taught and it worked when we started, it even worked back in August. Then September came round, a whole load of new scalpers came in and institutional volume never picked up. It quickly became a dead style. Just a way to churn for the firm. It's really...

No cap down and none of that BS non-compete agreement, I would take that deal right now. But who knows when times will change and that 30% payout, no commish will become a rip off.

This market is all BS, it's all prop traders and specialists/MMs. There is no real volume. Institutionals are lukcy enough to get orders to fill. But of course the market won't let ever other trader make money shorting it. Once everyone is long, thats when it plummets.

It's gonna keep going up till the serious sellers come in. I'm just wondering who is doing the buying

It really isn't that simple. I'm not at all doubting your friend, because I have a friend also who doubled his money on SIRI (check it out) in less than a month. That friend, also has someone who pulled in about 1000% return on a different penny stock in about 6 months. I am personally very...

Hahahaha, thats awesome.

It really isn't that simple. I'm not at all doubting your friend, because I have a friend also who doubled his money on SIRI (check it out) in less than a month. That friend, also has someone who pulled in about 1000% return on a different penny stock in about 6 months. I am personally very...

None since I do not have any. We can't hold positions overnight anyway. wish we could though

If you are talking about proprietary, I would say Experience, some natural skill and a little luck. If you are talking about institutional, well thats a whole story about corporate America. Especially in times like these, you need some serious nepotism to get that job.

Interesting thread, I think the point is that all these questions should be asked to the friend. Post his stock picks on here cause I know I am curious.

True, but ideally you are supposed to be on the right side of the trade.

Well it's a given that the specialist is a scumbag. Not even a day trader, because no specialist would ever be able to make a penny trying to trade against someone who controls the price. And the last thing they do is provide a "fair and orderly market". But price improvement is good. A...

And I have to disagree with that. Maybe in some trading styles but in scalping, those big numbers of newbies only make it worse. Especially when the number of big bids and offers are not growing. Trading ranges get smaller and smaller, while the downside gets bigger and bigger. If you are...

Ok so lets take a look at this. There is no possible way that people are throwing in limits in front of you or that the specialist is matching market orders. Or that there could be size on consolidated. Or maybe the specialist has an outside order he has to fill and he is not showing it...

Of course The more experience you get, the better you will become. But how much time do you have? Personally I'm out of time so I'm seriously questioning whether I can last unless the institutional fish makes a comeback very soon.

Yeah I wish it was that easy. It seems to work, until you get that one trade where you easily lose 20-30 cents. So you had like 20 trades of 5 cents average and then you give a whole load back cause of a short squeeze. Now add commissions into the mix.

Wish I remembered that it was Yom Kippur, I would have stayed home. Now Im paying for it.