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I have been reading Hitmans posts for awhile and it seems like everyday is gambling. Bouncing from stock to stock and sector to sector, trying to guess what sector one will do when sector 2,3,and 4 does something else. Seems like you spend all day trying to find something to trade, then hope...

You seem to be wondering why you are in a slump, and I don't want to act like I know, but I did notice one thing. You are getting screwed on rates. You only traded 23000 shares and you had over $550 in commissions. That is highway robbery. I looked back in your thread and noticed the same thing...

Does receiving a k-1 affect a traders ability to set up retirement plans, or are all the plans still available to use? (SEP-IRA's, etc.) Thanks

Your second post answered my questions (class A vs. class B). I appreciate you being forward with the competition. We scalp straight Nasdaq though so we are not huge competition for you. Again, Thank you.

I am replying to this to get it to the top of the thread in hopes Don will reply.

Does everyone at bright contribute capital? They are considered partners in the LLC? I thought that you would have to participate in the the LLC's profits to be a partner and get a K-1. How does this work at bright? I would like to get the LLC I trade under to do this, since we contribute...

Don, I am a member of an LLC and they give me a 1099 at the end of the year. I then have to pay self-employment. I am interested in how your firm gives out k-1 vs. 1099s. What do I have to get my LLC to do in order for them to give me a K-1 vs the 1099? What do they have to do differently...

Are your passthroughs (ecns, sec,soes,etc) included in your .01? If they are, then you have a pretty good deal if you do light volume(under 200,000 shares or so) If .01 is commision only and passthroughs are on top of that, then you are getting raped. And if that is your total cost but you do...

The article acknowledges what we all know, SEC fees rape us. The article states the SEC fees are 6 times more than what they were set up for. That tells me that the fees should be cut by 5/6s, but that wont happen. Hopefully they will be cut by 2/3s or atleast a half. Does anyone know the new...

They think that everyone should kiss their ass since they have that "I am smarter and better than you" ivy diploma. What a joke. The big firms are run by good old boys who went to Ivy schools because their dads did and on and on. So they only hire Ivies. What a joke. Pompous bastards like this...

What I mean by a layup is this. When the locals are caught the wrong way, institutions will make them pay. And as long as you go opposite the locals, you are usually in for a profit, sometimes a couple dimes, sometimes 3-4 cents. It all depends on what stock you are trading and how it...

The locals are traders trading their own accounts. When it is locals only, there is no paper or institutions on the bid or offer. When all the locals are caught short or long, that is as close to a layup as we get these days.

Squakers are calling out the bid and offers of the "large" s+p contract, as you called it. Not the mini. They will often lag the minis. Speed of his talking is not important.you want to listen to when the bids and offers are rising and dropping, just like you want your stock to do. Crowd noise...

I heard today that we will now be paying a $2 per thousand Soes fee. Basically nasdaq is making an ECN fee for Soes. What a crock of Sh$t. This is going to effect all scalpers. I can't believe what has happened to the market this year. First we have to change to decimals. then this Supersoes...

The service we use right now is los.net. They do a pretty good job.

You want to concentrate on what the houses are doing, but also listen to see what the locals are doing. Some locals are big traders who the others will follow. Some will follow the houses and some work for the houses a bit I believe. It is nice to know when all the locals are caught long or...

I am notfamiliar with the prop deal here. We only have one guy in or office on prop, but I think that it is normal where you pay more and don't have to put up money.

I don't know what their average profit per trade is. I have never figured it out for myself. I do know that you don't have to average much at all, say 3 cents a share , to make good money when trading 4 million share a month. Plug in some numbers with total costs being around 1 cent a share...

Leland, a thing that still boggles me is that on some days when 4-5 of us trade the same stock all day, we will do 5-15% of the daily volume on stocks such as amat, cien or qcom for example, when the stocks only trade 10-15 million shares a day.

Gene, I don't really have any words of wisdom. I am still so new that I am learning alot every day still and just trying to step it up to another level. The way trade is not brain science, it is actually pretty basic. I trade only a few stocks over a period of time. Ones I have traded over the...