Search results

I couldn't resist this one... I just love these Bright Trading threads. Bright was on my very short list of firms to check out when I finally made the jump from trading prop to trading my own money, but after reading everything on this board about Bright, I was spared the mistake of wasting...

I'm pretty sure you'd better check again :) They do still use a version of Watcher, but it's completely re-written and completely windows based. It's highly configurable; more so than some of the other Watcher based platforms out there that I've seen. You also have access to FirstAlert, so...

you should try heartland. probably the best software out there for scalping and very competitive rates; if you trade in the NYC area with that volume, you could probably get down to about $7-8 a ticket rate. call them and see.

LOL. That was a great story DATT. I come from a long video game background myself and I think that helped me get into my current firm. One of my friends here thinks that people that are great video game players would make great Nasdaq traders because of speed of recognition, speed on the...

There are still people screaming out things like that. At least in my firm. And, it's not merely "kids." We have lots of aged 30+ traders here that trade solely off L2, have traded off only L2 through the tech boom, and have traded off L2 before the tech boom. The truth of the matter is, no...

That's exactly why I started this thread. There are *still* lots of traders trading this way. I think many people still think that, eventually, the market will return to the way it was a few years ago. L2 is merely a tool. It depends on the trader what he wants to do with that tool. Trading CSCO...

I usually jump into positions 500, sometimes 1000 shares at a time... but after reading your post earlier in this thread last week about scaling in and out for 200 shares at a time, I tried trading/scaling in and out 200 shares at a time up to my full position size... Gotta say, it works out...

The great part is, even after these stocks show up on the gainers/losers list, they usually still have the momentum to continue on the trend, and if not, they usually have a strong counter-trend move. Rarely, if ever, do these illiquid stocks happen to show up on the gainers/losers and *not* do...

That's why I think there's a better way to trade off L2. Because it's so much "harder" and mentally draining now. You're fighting scalpers all over the place just to get hit on the bid or to get a sale on the offer. The noise quotient is a lot higher, and combined with the lower volatility and...

LOL, well, that was a most amusing analogy I've seen in a while... I haven't actually seen the threads by the MMs or other institutional traders on here and I can't imagine why they would bother... I thought I answered your L2 questions fairly straightforwardly, other than telling you...

Yes, stocks like QLGC and NVDA can move points at a time. So you can make 70c, then you can lose 30c. You can make a bunch of trades when the stock pauses, trying to catch the next leg up in the move, and you can write a lot of tickets doing so. You get charged ECN fees, write a lot of...

I guess this was really the main purpose of my starting this thread... From most of the responses, it seems that most of you do high volume scalping. Are you scalping for pennies in stocks like SUNW, WCOM, etc, or are you scalping for larger gains in the 20c+ range in less liquid stocks...

to limitdown: The software I use, as DATTrader pointed out, is indeed based upon the original Watcher software. The entire platform is designed around momentum trading. We have your standard L2 windows w/ T&S, market scans, risers/fallers, position manager, futures/market ticker, *very*...

Oops. My bad. I'm off by a conversion of a tenth there. We actually go by ticket averages ($/1000 shares) vs per share average. (Same basic concept though). So most of our traders average .5c-2c a share... We do trade exclusively Nasdaq stocks while Bright and WorldCo seem to trade...

The firm I work for has no relevance in this discussion and I don't feel comfortable disclosing that information here. Assuming you're familiar with Nasdaq L2, box trading is basically staring at L2 all day and watching for buyers/sellers and trends/momentum. Basically, you watch to see what...

I assume you're talking about net averages. At my firm (which is none of those firms you listed), the successful traders generally average about 5c-20c per share, with the majority of those traders falling into the 5-10c range. That's the average obviously, and there are traders here who can...

I've been lurking on this board for a while and have read with interest all the posts about trading here... But, for all the talk of trading on this board, there seems to be a lack of discussion about trading Nasdaq stocks based purely on the action in the L2 box and T&S window. I'm...