Search results

just curious. These stocsk see to be rather thick and trade in narrower ranges. I thought this is the opposite of what you want in good trading stocks.. AI am guessing you are not scalping, but holding for many minutes/few hours?

Vito is an excellent trader. I took his course and you can make $$$ with it. I saw him do it first hand, as well as a few guys in teh room . DOING SO however, is a challenge. There is a learning curve that lasts a few months, and I havent been able to master it yet.. The key is limiting...

Only if you are in salestrading. And your book of business better be in the listed side, otherwise your customers will send their orders to ECN's...

True. I was refering to the equities side of the business.... I should have been more straightforward.

I agree. They have a reputation for being a a real progressive firm that really invests in its traders. Supposedly, they have their assistants play poker, study game theory, and rotate all types of trdaing, exchange, options, equities, etc.. I had an interview 1 year ago, but it didnt pan...

just to bring up a point here, what REALLY is the difference b/w a successful hedge fund trader and a successfull prop. trader? What good is a top 10 MBA with little proven trading exp. vs. a slightly above average intelligence prop trader who has been in the business for awhile and has a...

unless you are an Ivy league grad and can get an interview the traditional way, or know someone that can get you past Human Resources, no... The jobs are so scarce, marketmaking is dead with ECNs becoming popular and decimlization, even the NYSE is probably going to have to restructure in...

I can see your point, but with previous experience in the corporate environemtn for an IB, solid references, and an REASON (ie lay offs, bad job market, decimlaization, ECN's, etc) for you going prop, I cant see it hurting as much. In my case,I HAVE BEEN pounding the pavement, and the rest...

Why is this? Is it toxic a) If you dont have an other trading experience for an IB or related firm? b)Is it toxic regardless of circumstances: ie layoffs, bad job market, etc.. In my case, I got laid off from an IB when our branch basically shut down its NASDAQ MM branch. I did prop...

Why?... Just curious. .What type of person are they looking for?

I cant speak for the listed specialists, I believe since they are the "only" guy involved, they "are suppossed" (cough cough) to keep a fair market.. As far as NASDAQ, there were roughly 20-40 spec. firms in each stock so no one really had an unfair advantage and could manipulate the stock...

to answer your question, nothing. With ECNs, there is no point anymore. The only thing a MMID allows is is the MM to see who is interacting with them (ie Merrill Lynch or ARCA..) But these days, NASDAQ is 90% ECNS, so it doesnt tell you anything.. As far as capital requirements and costs...

Still, by law (assumming you are using the proper exchange, not an ECN) they MUST fill you.. no?

good example above. 2 other possibilities also. The fist being the more frequent: 1) A customer has a large order that they want "worked" for an average price.. The MM will ge the order and particpate at different levels, but b/c the order is larger it is affecting the market.. ie: 300K...

If you are serious, I was a nasdaq MM, so if your questions relate to that market, maybe can help you. I really cant imagine any questions that cant be shared with the group, so feel free to ask in this forum.

Echotrade does.

what pisses me off is the "there are alot of jobs at stake..." line.. Yeah, no shit. Why didnt they think abou that when they allowed ECNs to essentially shut down the firms of NAsdaq Marketmakers... I'd say over half the Nasdaq market making related jobs have vanished. Dont cry foul half...

yeah, just not at 5-star steak houses everynight with my $$$$ :D

same thing happened to me with the lay off. I have been told by numerous people that you are essentially self-employed and not recieving a salary, and are trading your own money... Unless you work for one of the rare props that pay you, you should be fine.. I hope, b/c I have been doing this!

yes, you can get rebates, especially when the entire firm is using them, but it was still cheaper to use your name inm the both passivley and actively.. Besides, Many ECN's didnt have to accept a Fims preference and would just sit there ignoring the preference which was bullshit... The bottom...