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If you see RE values drop 30% or more, the house you're in now will drop by that much as well, so it really won't make much of a difference to you. Unless you're currently renting, not going to sell your current residence when you buy a new one, or looking to upgrade substantially, there won't...

I've used one for years, I highly recommend it. Of course, I'd be sure to try one out for myself before spending the money.

Spoken like a "proud" renter. Since when does pride have to equal price appreciation? A lot of people take pride in making their house a home, not just from the value of it going up. Pretty lame thread...

It's actually a tough call IMO- he obviously felt that you were somewhat unstable. Maybe he thought that if he would've told you that it wasn't working for you, you would've taken that personally, like you weren't good enough to succeed at it, and made your condition even worse. Maybe by...

Pretty much. It's about the risk. There are some variations, but for the most part, there are two business models. The firm backs the trader, taking on responsibility for the losses in exchange for a higher percentage of the profits, or the trader deposits money to cover the losses in...

No one forced him to trade so much AUM. That's why a lot of funds close to new investors, stop taking new money altogether or even return some or all money to investors (even if they are performing well). A % return is a % return regardless of total AUM- if you don't have enough ideas to put...

Again, I'm not commenting on the stock price, but customers not paying their bill has little effect on MA. When you or I don't pay our bills, it's the issuing bank (Citi, JPM Chase, BAC, etc.) who is chasing after us, not MA. I think you're confusing them for a bank, which they're not. Good...

And how does that hurt MasterCard exactly?

That's the beauty of their business model though- they aren't on the hook for the defaults, the banks are. They just process the transactions for the most part, the banks are the ones issuing credit and collecting payments. Massive defaults will probably mean less transactions, but it's not...

Like the other poster said, there really isn't much of a difference between what most consider "prop" vs. retail anymore (a lot of "prop" firms are just large retail accounts). The leverage is one, being in an office surrounded by other traders is another. Most prop firms have on-sight tech...

No, it won't be exactly the same. If you run pretty much any scanner at different points in time you'll get different results as things change in the market. Generally, stocks that are going to gap a significant amount will have at least some pre-market activity, so running the scan before...

Yes, being a big client at one of the underwriting firms is generally the only way to get the IPO. Basically, the firms get a certain amount, which they dish out to their bigger producers, which they in turn give to their better clients. If a certain IPO isn't in great demand, you can probably...

What are you talking about? Why would a daytrader miss out on an EOD rally? There are pro's and con's to both buy and hold and daytrading. When RIMM (or any other stock in your "index") ends the day down 5 pts., you lose money, where a daytrader can make lots of money off of the intraday moves.

I'm guessing you're trading as part of a group? If so, the reason they've told you not to do that is probably because that offer at .25 is your neighbor and they don't want you jumping in front of them. Especially if you are trading together and sharing ideas, you don't want to be cutting each...

It's not going public next week. They haven't announced a date yet, but it's expected to occur in the first quarter of '08. At any rate, I wouldn't count on it doing quite as well as MasterCard. The underwriters will most likely take it public at a richer valuation because MA did so well...

The big boys aren't going to say "we have no more money", but they are going to be much more selective in how they use it. They already are. By the way, MA doesn't issue credit cards, they process the transactions- they make money every time their card is swiped, the issuing banks are the...

Sounds to me like he does know about Karma, even if he doesn't realize it :)

I agree with most of this except the part about rates. If you find the other things you're looking for, .004 isn't a bad rate for a brand new trader. I'd actually be a little hesitant of anyone offering sub .002 for someone with zero experience. Pretty good advice overall though.

Reg NMS and the hybrid have contributed to this. Before, there was price improvement and restrictions on size of auto-exec orders, so there was a lot more "stacking the book" because they weren't worried about getting filled. Now, If you have a bid or offer out there, it can basically get hit...

Most prop traders don't have much capital up, so how much is a blow up? 4, 5, 6, 7 figures? I guess technically, a blow up is losing most or all of your trading capital, but that can be a very small amount at a prop firm.