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I guess it would be included if you are a so-called "kept man". Anyway, I think a good secondary job is something where you are able to watch the markets during the day...in other words, a trading firm or brokerage-related job. That's what I do. I work for a firm where I can comfortably...

I would prefer the first system for psychological reasons. As TGregg said, the bottom line is not quite as good as the second system, but they are close. To me it's worth sacrificing a little of the bottom line in order to have the peace of mind that comes from a higher winning rate.

Sounds like a great firm you are at now. That ought to be the model for all prop firms. P L J

When I first started trading in the mid-90s I was entirely discretionary. In fact, I didn't even use real-time charts; I only used end-of-day charts printed on paper. All of my trading decisions were made simply by watching the tape. As the markets have become more and more difficult to trade...

Try taking a longer-term approach. If you are a micro-scalper, step back to trading 3-min or 5-min bars. If you are a 5-min chart trader, step back to a 10- or 15 min chart. Or even consider swing trading. "They" will seem to hurt you less the further back you step, IMHO. Best, PEG LEG JOE

Sounds like your prop firm is going to be paying my rent. :D j/k Seriously, take it slow and remember that how much you know is nowhere near as important as how disciplined you are. Good luck! Me: 30, started trading when I was 23. PEG LEG JOE

I am one of those highly independent people who cannot stand having my life dictated by a boss and who cannot bear the thought of living out the rest of my life in the BS corporate bureaucracy where everything I do is mandated by an SOP and/or a supervisor who makes much more than me and does...

I am a member as well, and the emails which used to come once a day, now come sporadically and perhaps only once every two weeks or so. My understanding, and I may be incorrect, but Innerworth basically flopped and they turned their site, which used to be a month-to-month subscription site...

Ah, a fellow Monty Python fan!! PEG LEG JOE :D

I believe the current lease price is in the neighborhood of $3,000 per month. As for the cap, maybe someone else can answer that.

If you want to be a methodological or systematic trader, you should try to remain one. Sounds like what you are doing is you HAVE a methodology that appears to work, but you are not USING that methodology. You are actually trading your account discretionary, believing in your mind that you are...

College can help you with networking and getting hooked up with the right people. Will college make you a better trader? No, not necessarily. However, here in San Francisco, there is a technical analysis program at Golden Gate University. I know several successful traders who gained a great...

A gift basket of fine meats and cheeses is forthcoming!! :D :D :D

LOL!! :D And since you own the machine, you can empty it out everyday and start again!! PEG LEG

Though I am now strictly a day trader, I used to swing trade in the 90s, and I can relate to your feeling of uselessness when you are only making 2 or 3 position adjustments a day. What I used to do a lot was take naps during the middle of the day. I live on the West Coast, so the day starts...

YM in my experience trades with a one point spread approx 50-70% of the time. When the market is moving fast, it can widen to 2-5 pts pretty easily. On balance, I think you can figure on an average slippage of about 2 pts, although a good number of your trades will only suffer 1 pt of...

tjuggler, no problem. check your PM inbox. PLJ

Could you be more specific about that. Are you saying that even short-term cap gains would be taxed at 15% ? If that is so, I find it hard to believe...but it would be utterly fantastic if it were true. Really, I'm quite sure it only applies to long term cap gains. Futures, by their very...

trendtrader, I sent you a PM regarding the prop futures firm where I trade.

Yes, it does not hurt to send letters/emails to your congress rep just so they know how we feel. However, we do not matter one lttle bit to them. Recall how easily the PDT rule was passed despite strong opposition from small day traders. The point is, we may be growing in numbers, but we...