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It has already been said by every other poster, but I wanted to reiterate what someone said about not signing a non compete contract that you can't get out of. They want you to lock you into a shit deal. I can't believe there are firm still peddling this 2 cents a share crap in this...

I have noticed the poop fills on NYSE over the last 2 or 3 weeks. I almost never use market orders and last week I have been shown again why I don't. To compensate I have started to bid and offer in more when the momentum looks like it is stopping or at a support level instead of being...

It is protected as much as Bright trader, Echo Traders, or any other "pro firm". So basically that means it is not SIPC covered for the most part. So always make sure there is a good risk manager/procedures in place.

It does not help that there are so few high volume and higher priced Nasdaq stocks left. All the lower priced ones are targets for the liquidity players (don't know why or how else you would be trading those) so all the naz traders are running to the same few stocks. Everyone trying to get in...

That is great that they do that with you at Lynx. Hard to find training where someone is that open with you on what they do and teaches one on one. Like you said a lot of new traders really need that structure like you are being given. They start reading too many books and trying to many...

In most cases you need 7,55, and 63.

Man I need to set some things up in New York if these are the deals they are giving out especially since the firm is not taking any risk on you. You are still risking your own money. Hard to believe the Worldco deal is even worse than this. In some sense I guess you are paying for the...

Part of it depends on what kind of news you are looking for. Are you looking for breaking news on stocks or just some where to get the jump on economic numbers. Hopefully if you trade at a firms office that they would supply some kind of news service. Some offices use John Ogg who reads off...

If anyone is interested I know that there is a decent Andover office in SF that is wanting to expand (I guess who isn't). If anyone is interested in checking it out or talking furthur about it just PM me and I can give you some people to contact about rates or anything else. They are wanting...

I see the same thing that downtickboy was talking about especially when the futures indexes are consolidating. There are some still nice trend moves in stocks although the indexes are just chopping around. Big moves in the futures seem to pull all the big cap stocks. This afternoon HD trended...

I have heard it is fantastic software too especially for hedge funds and institutions that have to get big blocks of stock on nasdaq. I also heard that it is used at some of the investment banks too. They have a website so you can do a search and see what it says about the software. I was...

By the way I know someone for some strange reason who decided to trade 8 million shares of MSFT in one day (he usually only trades 1 million a day) and did not have any problems. He made a lot of money that day. Trying doing that on realtick or redi.

Wow maybe it was the bad management of the company. If you look at their history you will see that they added a ton of volume to their broker/dealer before going bust. So if the software was that bad I would be surprised that they would have that many people signing up to use it. I don't know...

I am still trying to get used to that too. I am so used to trading off and anticipating the future moves from trading nasdaq stocks that I will still blow out of trades because of the futures. I could understand thinner NYSE stocks not trading with the futures like in naz but what is strange...

As far as being specific I also agree that Andover has great rates and software. They were the ones who have been the most active in driving all the rates down which has been great for the traders that are taking or took advantage of it. The software is the best I have traded on for Nasdaq...

I don't understand how you can have a problem leaving a firm where you put your own money up to trade. In that case wouldn't you be a customer and not an employee? I was stuck in a contract like that but with a prop firm that was basically not fulfilling their obligations on their end...

Sure there usually is a difference in rates between traders that trade that much volume. However he did say he traded 2-5 million shares a month. Rates are all relative too. If someone trades 2 million shares a month and pays 10's and the other trades 5 million shares and pays 7.5's then you...

From the listed traders I have spoke to recently who scalp a lot of times it is as simple as trading off of the futures movement with liquid stocks. They trade stocks that have a high correlation with the indices. Also look for some short term support levels and resistance levels to trade off...

I think Nasdaq scalping has been getting so tough because of all the program trading going on in them -- at least the larger volume nazdaq stocks. I also think they trade a lot more choppy than NY stocks. However if you are able to weed the noise out there is still good moves in naz stocks...

Great post. I think it will hit home to a lot of traders on this site. What you talked about in the above quote is so hard to do to yourself. I don't think most people are honest enough with themselves to admit that they are not cutting it. It is easier to blame the market, the software...