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true statement goldenarm. As it happens, i choose to swing trade which frees me up to earn regular wages. In my case, the opportunity cost of being a hard core daytrader is simply too high. I also believe that many who are attracted to the prop firms are fresh out of school with...

I use a lot of things for trade entry, but for trade exit the only thing that matters is price. I like to use trailing stops. This takes away about half of the angst involved in stock trading and frees up a lot of time, I am not glued to the screen just because i have a trade on.

I said "many firms", I didn't say Bright Trading so don't be defensive. Oh, and thanks for supplying the industry term for what I described...."holdbacks". Obviously it happens or there wouldn't be a term for it, thanks for providing that info.

hey Larry, "read reminiscences of a stock operator", its a classic. Sometimes when a market seems screwy it is because it is reflecting the buying or selling of the biggest player in that market on a given day. Sometimes that is intentional, especially around options expiration for large...

what about getting a draw ? I would never get up and go into an office and work 8 hrs a day without some kind of income stream. First of all, I can't afford to do that, second of all it just seems dumb. Why should anybody work for free ?

The bottom line is that most of them do not make any money at all from the profits of their traders. On the average day about half of the traders will be winners and about half losers, so on the average the trading profit and loss is a wash. They make their money from the churn, not the net...

once you understand the math behind trading, and the reality that the markets are very unpredictable, then you won't be so hung up on winning percentage. There are excellent traders out there with win percentages around 50% and there are crappy traders with high win % that won't be around in a year.

there is one day per month when manipulation is rampant....options expiration day. I never trade on options expiration day for that reason. Triple witching days are also bad, and now that we have SSF's there may be quadruple witching.

how far out in time do SSF's go and what is the best future to pick for swing trading? with options i used to trade front month or two months out. With Futures there has to be some time value involved although i'm sure its not as bad as options. I guess basically which contract will just...

Manipulators are those that seek to control a market rather than ride the market like everbody else. By this definition, manipulators are simply the biggest fish in the fish bowl and they push the others around by their size. As individuals we are minnows swimming with whales and sharks and if...

Germany and Belgium came around to the side of the good guys and decided to honor their NATO committments over the weekend. Its nice to see western europe as a whole is not as bad as France.

I also use TC2000 but i have to say that sounds very complicated.

i hope i'm not being nosy, but how do you pay your bills ?

thats a good article. shows what happens when the government thinks higher taxes are always the answer.

as a side note, the duct tape thing is a bit loony. It reminds me of "duck and cover" which was supposed to save people from the nuclear bomb during the 50's. If your house gets hit with small pox, duct tape isn't going to save you. If your city gets hit, then you will just have to evacuate...

"So far, nobody's got any EVIDENCE of anybody preparing terrorist attacks on America" the CIA has the evidence, thats what Tenet told the congress and thats why we have the terrorism alert. I don't think the head of the CIA would risk his career by causing all this panic without any reason (...

One question comes to mind, if France exits NATO, which it clearly doesn't belong in, how long will it be before Germany takes them over ?

oh, but france is one of our BIG ALLIES, we better not attack Iraq if they don't want us too, after all we need them TO DEFEND US if we get in trouble.....lol.

I am bullish on gold for the long term but I am also a swing trader, so i think its ok to take profits on partial positions. I don't scold anybody for taking a 100% profit in a short period of time. However i have a story....I bought a stock called MEDX at around $3 a share in the 90's, sold it...

CNBC IS THE DEVIL !!!! CNBC causes cancer of the brokerage account. those commentators have no insight into the market that a fresh business grad wouldn't have, but somehow because they are on TV they are supposed to be gifted traders. Its a psychological trick, and its evil, so don't...