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I don't trade FOREX, only equities, and have been only trading for over a year. Contrary to the law of averages, I have turned a profit my 1st year of trading. I attribute this to due diligence, a rock solid game plan, and most importantly, to being able to recognize (and execute) when to get...

I'm a relatively new trader (just over one year now), and I was wondering if anyone has had problems with the IRS, while claiming Trader status ? - I claim trader status - I have impeccable trading records - I claim all my biz expenses on Schedule C - I to not write off Health Insurance on...

Here's a funny one.....when I tell people that I'm an Equities Trader, they are totally impressed, but if I tell people that I'm a Day Trader, they think that I'm about 3 levels below a User Car Salesmen. Personally, I do not care, but funny how the presentation description can make that huge...

I tried eSignal V7.3, and was disappointed with it, relative to RealTick, for the following reasons: 1) I have built elaborate spreadsheets using RealTick's DDE API interface, based on their Level I data. I use these spreadsheets as my screening tool. eSignal has an equivalent...

Lundy, "If you are scalping for 5 cents a trade, of course you will get screwed. The specialist has your order ID, if you try to buy the bid, and then post an order to sell a few cents above, he SEES you." How is this ? Your Order ID will be a different # on your sale from what is was on...

DISCLAIMER: I do NOT work for the IRS How many of you traders file as sole proprietors and deduct cost of Health Insurance premiums on your Schedule C instead of on your 1040 (medical costs which are over 7.5% of your AGI are supposed to be deductible) ? The rule is that if you are not...

2 things to add: - I use Turbo Tax, and since I cannot import from IB, I generate a single line on my Schedule D, which is an accumulation of my total gain for the year. Additionally, I attach a letter to the IRS, with my tax return, stating that I'm a Day Trader, and if need be...

P.S. to last post: The inspiration to become a scalp trader, came directly from a single book that I read, "Day Trading Online", by Christopher Farrell. Although the book is somewhat dated (doesn't deal with decimalization, price improvement, NYSE Open Book, etc.), I used this as the basis...

I chose scalping over other forms of trading, because of the following: - Lower risk trading strategy - Small timeframes, which again, translates into lower risk. - You are trading momentary, supply/demand imbalances, much moreso than TA and Fundamentals. - It is fun and...

Reading info on this board, has been of great value to me, a newbie on this board. I have learned, and hopefully, I have taught. I agree with all of you, this is a truly great community for traders to get together and share their ideas and experiences. Kudos to ET.

Scientist, What an awesome post ! Thank you very much for your insight. It was inspirational !

Mecro, Interesting post, thanks ! Since I trade thinner liquidity stocks, I am finding that the fills overall seem to be better with block sizes of 1000 shares or less. It appears that I get passed up on (via "penny price improvement") more frequently, when my traded block size is 2,000...

I too, use IB, and although I love the IB system, the support guys give me the run-around as well, and always give me some excuse that the Specialist "said the trade was legal". I pushed hard once - I was clearly traded through - and by the time it got resolved, I wound up getting filled any...

brokerj, Yes, you were insulting.

I've been trading for a year now, and I am a Scalp Day Trader, who likes to end each and every day in cash. I trade NYSE issues. I'm curious, but for similar type traders, I have 2 questions: 1) How much of your own capital do you work with daily ? 2) What is your average block size...

Never open any attachment, from a non-trusted source. What you think may be a text file (could even have a text extension), could be an executable file, which could wreak havoc on your system. Dont' do it !

Dustin, I beg to differ. I have (rarely) been price improved on Limit Orders (if it's 1 % of the time, it's a lot). I think the vast majority of market orders are price improved (according to NYSE website, I think it's on the order of 40% of the time......of course, to me, it seems like...

vhehn, If the Specialist posts a limit order, at the same price as other posted NYSE limit orders, he has to yield to those limit orders first before filling himself (you know that). If the Specialist "anticipates" a possible downdraft in the stock price (e.g., large floor broker order...

As just one example, if a Specialist wants to unload his holdings on a stock, and wants to ensure that the current limit book on the ASK side doesn't take precedence over a price that he feels is appropriate, he can "pin" the ask by entering a "large" sell order via an ECN, that becomes the best...

vhehn, That is my point exactly ! The Specialist has no obligation to fill any orders posted on ECN's. Hence, by having an inside limit order posted on an ECN, he/she has effectively pinned the price, if he/she elects. To me, this is direct tampering of the natural laws of...