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Newatthis, The current market is extremely challenging to all traders, even top pros. There is no momentum in a bear market,.01 Bid-ask spreads , dual listing of all stocks and options by ECN's and otherexchanges. For the pro, there is no EDGE. Trading is about risk vs reward. If you...

New_2_this, Not a good idea and no doubt regulators read these boards. Gene Weissman Lieber & Weissman Sec., L.L.C. gweissman@stocktrade.net

lojze, You can call IB and find out why they won't trade Bulletin boards. I assume they do not want to clear or execute any stocks they cannot make a "Market" in or trade against. You will have to ask them . For clearing firms, Penny stocks can create problems and many firms do not want...

Just a note. Many clearing firms(direct access) will not clear micro cap companies. You need a "ticket" $25.00 or less. Be aware that you are getting scapled on the spread everytime you trade & 95% of these stocks are very high risk. There is no direct access trading in the microcap...

dvegadvol, I think you made a valid point. The big money in FX is sophiscated trading (arbitrage) or trading against customer orders. Very few sophisticated trading operations would take a huge unhedged bet on a FX daytrade , unless they had a very good idea of where the market is...

dayraider, Overnight margin in a customer account is 2 to 1. If I own 1000 shares of stock at 50 , I would be required to keep $25,000 in my account. Pattern Daytrader margin in a customer account has been increased to 4 to 1. A pattern daytrader must maintain a $25,000 account. A...

dayraider, If I Buy 1000 shares of XYZ @50 (9:30am)and Sell 1000 Shares of XYZ @ 51(4:00PM-or until ECN close at 8PM). This transaction should be treated as "same day substitution "by SRO and NASD rules. You should get all the buying power back at the end of the day. However...

Bryan Roberts, I was responding to a fellow firm owner of Van Buren, Vito Sisto who runs a well known & successful trading firm. The Tough Environment I was talking about has alot to do with both our business models for running a firm in a tough trading environment. We may charge more...

freehouse, The specialist in the QQQ's on the AMEX hurt themselves by adding the cancels. I never liked the idea and I complained to the exchange , but there was nothing anyone could do. The QQQ's are losing volume on the AMEX to the ECN's and the NYSE, so the policy didn't help them...

Nordic, Cancel charges are real. As I said earlier, the firm may pass the charges thru to the trader. This cost only applies to AMEX transactions on QQQ's, that are cancelled. The best route to use would depend on your objectives, size and order execution platforms routes. On REDI+ , I...

TraderJimR, It is possible PAX clearing or ECHO are picking up the costs for the cancels . I believe the AMEX specialist may not be charging for cancels now, due to increased competition. We include all pass throughs in our rates for NASDAQ , including REDI,ARCA,ISLD,INCA &...

The QQQ cancel charge was a pass through by the specialist in the QQQ ,Susquehanna Investment Group. It is possible due to competition from the NYSE,ISLD & REDI, that they are not charging for cancels anymore. Check with your introducing broker to see if you are being charged these cancelation...

KTM, Honestly, if you want to start a hedge fund and you have the ability to trade and raise money , go ahead. I am not trying to discourage anyone and I'm sure you are a good trader or you wouldn't want to start a hedge fund. I just wanted to try to educate in a general way and discuss the...

bozwood, If anyone wants to start a hedge fund , I think they should. The costs I gave are very close to the true costs of starting a fund.No Prime Broker will accept a hedge fund client unless the fund is set up properly and all legal documents are in order. That is why starting a...

ktm, The costs of starting a "real" hedge fund is at least what I stated and probably more. Managing a hedge fund is like running a "business", not like trading with an IB account from your home. Hedge fund world has some good information for anyone interested in starting a hedge fund at...

Just a note. To start a true hedge fund, will cost alot more than $25,000 for legal fees,office setup, phone lines, trading software etc. At the end of the year, you will need your fund audited , which could cost between $10,000 to $25,000+ (per year).Before a trader starts a hedge fund, you...

skadinkus, They have a cool shockwave presentation. Very nice. Why don't you open an account with them and let all of us know what happens. Gene Weissman Lieber & Weissman Sec., L.L.C...

There are several sights on the web for monitors. I use Tiger Direct at www.tigerdirect.com . As an example a 19" CRT quality monitor runs about $200.00 (recertified). Shipping & insurance may sometimes run $35.00 per monitor , which is over 15% of the price of the monitor and you have the...

Vito, It has been a tough enviroment for everyone and I know your firm has a good reputation for service as well as competitive rates. Best wish's for continued success for VB securities in 2002. Gene Weissman Lieber &...

cashonly, That is true, diversification is your best bet for any "positiion" type of trading . The profits in matched pair trading tend to be small, so traders end up many times with larger postions then they may normally carry, because they feel the positions are "hedged" or they add...