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Or going to school with a 30k tuition....it is the giving up of the career with a decent income that seems like a poor call. We don't know if the 30k is the guys life savings or just pocket change. Maybe he is ready to retire after 20 years, and is willing to pay the "tuition" before getting...

1: You are right...the contributions to THIS THREAD do demonstrate quite a bit of reality!! 2. You are absolutesy on the money (except for the uptick rule, which can be overcome several ways) about possible trouble for traders like me lately. Follow through has not been there. Momentum...

I don't know what your backround is. I was a stockbroker for a few years as were a lot of daytraders. Whether this was an advantage or disadvantage can be argued. Then I was an on the floor market maker for several years. Again, I don't know if this was a help or hinderance. I went to work as a...

I think it is determined by how many sectors you want to trade in. In my case I will generally trade in Techs.. Broken down into several categories such as semis, software, networking, internet, fibre optic, alternative energy, etc., etc. Then we have: Banks Brokerages Oil...

When the spread is wider on an ECN than on the exchange (say in the qqq's), it isn't anything to complain about. It is simply that there are no either no sellers at the offer, or buyers at the bid. Remember, you may complain about specialists on the floor, but on the ECNs, we make the market. If...

Not resentment....just some things don't translate. Not many things have more value than an Ivy League education. My contention was just that there doesn't seem to be any correlation between an Ivy League degree, and successful trading. Other aspects of finance.....a whole different story...

Haven't you ever gotton a 1099 from a brokerage? Your tax liability is only on your net (after commision) profits.

This is truly the most right on post I have read here (unless I REALLY want to be self indulgent and exclude my own:D ) I mentioned they took me (an Ivy League school)...but that was as a grad student, and I just sort of backed into it...a long story. But I never finished those studies...I...

Well....they took me, and so maybe there is some justification to making fun of the IL.....hell, I am the only trader here that doesn't make money all the time, my math is bad (go back a few pages), and I can't hardly spel at awl!

Gee, you think so? I never thought of that:confused: This would also explains my bad trading.....I am just plain dumb!

Truth is, I lost money in the post 9-11 period. I was negative for the last quarter of 2001. Enough so that it made me net negative for the whole 2nd half of the year. Like I said earlier, I must be one of the worst traders in the world. I don't make money all the time like some of the people on...

Actually, I would call it more a "shotgun" approach than a "machine gun"...but you are right....if I used the "sniper rifle" approach, I am sure that my percentages would be better. Actually, I do do that during the day. I need to check some runs to see my success ratios in different time...

Worth reading, if you can get by the "vodoo" stuff--

I really wish I knew how you guys do it! I must be about the world's worst trader....I have so many more losing days, and like I have said here, my "average day" (something I don't believe in, but seem to be stuck talking about here) is more like 1/10th of 1 percent. Also, my largest daily...

yes, you are right...1,250,000 ...sorry i was sleep-thinking. but still, why HAVE that kind of share size if you can't really use it?

Peter....you are right. It is all about psychology. And overcoming the fear is just that. And don't think that it is "penny ante stuff". It is all relative. I WISH I could have made 3-5 hundred a day my first couple of years trading. What I did say is you can and will grow over time. It just...

50x25,000=2,500,000 shares. So to gross 166k, that is an average of about 1/8th on your max allowable positions. This took several months. What happens if you have one bad day? also, is the decimal in the wrong place on your commissions, or are you paying less than 1/100 of a penny per share?

I really have been trying to avoid using actual numbers in this forum. I have expressed returns as percentage of X, etc. And I don't want to get real specific still. However, let's say that I come from a neighborhood where you would expect to lose 40%. Now obviously, either something I do works...

Interesting question....I don't know what numbers to use. Let's say, I am trading with X (buying power). Now since I virtually never use all of it, do I need to calculate the percent return using the full number? That cuts my return % down. Do I calculate on what I used? Does that make the...