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I agree on most of your points. However, there are some guys here who scalp, probably automated , some with size, some using optiosn as backstop that mimicks floor trading. Buy bid.sell offer. Look at journals under rebate trading and mksummny.

Emotional damage ...interesting. Ist time someone mentioned that in the context of short term scalping...I am waaaayyy past that...LOL

Hi Rhymes. Admire your conviction on setting out onto a path less traveled. I am wondering why you've chosen such. It is kinda strange to be in a prop futures shop where 99% of traders scalp and you decide not to be "one with" the shop. What event got you to this thinking? THanks

rhymes-what exactly do you mean u work with a lot of traders?as a broker? as a trader who is among the ones that is still around and by default a very good trader? if u are the latter congrats you are in rarefied air. Interesting points about scalping though

Might have something to do with Reg NMS. There were posts 2-4 days ago about this

limitdown you are so right.If you don't think it is easy to blow 100k, try having 3 kids. specially when they get off the kids menu and start ordering from the grown up one.!!! LOL I did not think the packaged,franchised med billing was right. You need to drop 15-25k to own a billing...

you wouldn't happen to have Excel open with cells taking in trade data thru dde would you? That could slow your system. Another possibility is your automated trading system taking in last prices or level 1 data coming in that requires extra processing.

The guy from Lava who was explaining to me what the NMS would likely look like said it would be a combination of NY and Naz on ALL stocks. For naz, u can't print outside of NBBO much like NY and for NY you have fills/cancels in a second much like Naz.This rule of trade thrus must've just been...

Ratboy, I share your sentiments as to the possible effect on changing all equities into fast markets. There was a thread 2 weeks ago asking for advise on how to learn to tape read the spec and I posited that efforts might be better directed towards other things other than reading level 2...

Ratboy, I did not figure out the MO of flippers. I came from open outcry where your bid/ask is only good when blurted out. In addition, there was a long thread 6 months back about flippers in the Bund I believe. I do think that that kind of M.O. will be a lot more prevalent in NY(if not...

Do you think the hybrid/NMS rule will make Openbook less impt and more fake sizes prevalent . Think about it, if you are an institution and want to make a stock feel heavy you can post a big offer 10 cents higher so u can work the bid and then cancel the offer. The problem with that is under the...

It is quite amusing how a lot of posters here including recruiters of prop firms always validate the viability of their "trading" business by comparing it to opening a fast food franchise. I agree with most of the points in comparing prop trading vs. restuarant in terms of capitalization...

I am still a bit fuzzy on trade thru rules which are in effect now for I route all my orders to NYSE. But I was experimenting with using ISLD and routed a sell 100 to route ISLD at .08 when the NBBO was .10B .12 offered on a stock at the NYSE. Surpisingly, I got filled at .08 so in effect I...

What I don't understand is even without the looming implementation of Reg NMS, why are pools of liquidity for listed stocks still mostly in NY and not on the ECN's. I know liquidity begets liquidity but given the success of ECN's in Naz stocks the past 3-5 years,how come there are few size...

No clearing firm worth its salt would give margin relief to a firm just because it is 50/50 long short unless they are somewhat fungible like Via/Via.b. Cre is right, they get margin relief by probably using some of the haircut charge traders pay to buy OTM to protect against 3 sigma moves on a...

I don't think I am way off base here but price improvement availability and ECN like execution would be a contradiction in terms. Price improvement comes from the spec grabbing the order and "walking it down " or up for that final clean up print with which the NYSE traders thru their scale...

optioncoach, there are TONS of retail LLC's around that don't require S7 AND will give 10 or 15:1 leverage sub .005 BUT the big issue is transparency , trustworthiness and stability. I think Bright has all the above .. at what cost, however is the big issue.

Hydro, when you saw that, did you see it print in big blocks or little ones (which 1 could assume are daytraders). IOW, did the 100k offer dissipate like this 10K at x price 20K at x price 30K at y price 40K,etc OR 1000 2000 5000 200 400 2000 etc, This guy I was talking to...

I agree, Deeman's was one of the few that I took a hard copy of. Him and some of the options guys.Deeman, are u still lurking? Share w/ us your insight on Reg NMS.

Dustin, I agree with you that those won't sit on other venues waiting to be taken, however, from what this OMS guy was telling me in that scenario I described, the remaining unfilled within 1 second block will be canceled and will be sent to other pools of liquidity. The big diff is that that...