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Exactly- in this hypothetical world you're living in, you can change what ever figures you want after the fact, but in reality, we can't trade in hindsight. No one knows what the extent of a move is going to be until the moves are over. Scaling allows you to hedge your bets against...

Ummm, okay, how about the one in my first paragraph then?

Again, your examples are obviously going to work out in your favor, since that's your argument. Where are you picking these figures from? No one that I know that scales out does so in 2 increments, one at 50% of target and one at 100% of target. Maybe they take some off at 75%, some at 100%...

You say you're not dealing with hypotheticals, but that's exactly what you're doing. How did you pick these arbitrary numbers? Math is very simple, try changing some of the variables in your example and you can easily come up with scenarios where scaling in and/or out would've outperformed all...

What most people are talking about taking a hit are the banks that issue credit. Stocks in some of the larger banks (JPM, COF, BAC, C, etc.) have already taken pretty big hits, in part due to their credit exposure. Whether they drop substantially from here or fail completely is going to be...

IMO, yes. MasterCard went public almost 2 years ago (again, they started planning for it years before that), well before this credit crisis, so they obviously didn't just want to cash out or put it off on the shareholders. FYI, the largest shareholders will be the company itself and it's...

They didn't exactly wait until the credit meltdown to go public, these things take years of planning. It just so happens that the environment is pretty poor for them right now. Anyway, I wouldn't expect similar returns as the MA IPO no matter what the current market was like. In hindsight...

Not true actually. There was an initial posted buy imbalance of 8,101,300 shares that dropped to 6,716,400 shares after the remix.

I hate responding to threads like this, but you actually told us to go long these: Every single one of them down on the day. Let me guess, all of your "many other stocks..." were up, right?

I'm not sure who you're talking about now, but a lot of prop traders don't measure their own performance in terms other than P&L (and many do try and avoid attention). Some go a step further and look at things like cents per share, etc, but things like % return, sharpe ratio and DD% isn't very...

Who are "people"? Most prop (chop shop, as you like to call it) traders couldn't care less what others want to see- the bottom line is, net P&L is the most important for prop traders. You can't spend %'s. If you're talking about managing other people's money, raising capital, "true" prop...

Exactly- if you look back at time and sales for instance, you'll see the first print (after 9:30 a.m. EST) on NMS was 63.00 at 9:30:01. If you scroll up a little further, you can see the first print on NYSE was 63.99 at 9:31:04 EST. Those sources must be displaying the first NMS print as the open.

Without looking into that particular fund, I'd say it wasn't a hedge against downside, it was a way to passively manage the fund while still collecting the management fees. They plunk close to half of the assets into the index futures, then only actively manage the other half (or whatever isn't...

I agree that volume doesn't have much to do with profitability, but if you do the math, your friend may very well make more than you if he paid .001 less per share- that would make a heck of a difference to him, wouldn't it? :p That's the point, to some people, .001 is a big difference. To...

:confused: You can get the same leverage in most cases whether you're paying .003 or .002. Commissions aren't the only thing to consider of course, but all else being equal, .001 can be a substantial amount to some traders. For newer traders, I agree that it's not worth bickering over...

Please tell me that this entire argument is because you screwed up the math? :confused:

The splitter will just display the same images across the multiple monitors. You'll need a different (dual, quad, etc.) video card to display different images on the multiple monitors.

What sounds like happened is that you waited until the last few seconds to cancel, and they held your order until the final print. Sometimes, the final print comes several minutes after 4:00 as they take time to match up orders and determine the final price. Now, if it had printed on NYSE a...

It depends on what your doing, if the order is routed out, etc. Here's a link to their website. As for the SEC fees, they're only charged on the sale of stock, not the purchase. http://www.nyse.com/productservices/nysearcaequities/1157018931977.html

You can't just compare COF to MA. COF is a bank (that issues credit cards), MA is a processor of credit card transactions (among other things, but it isn't a bank). If people don't pay their CC bills, it's COF and the other banks that take the hit. MA only takes a hit if people stop using...