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"I do strongly believe you should cut your losses but I dont think you should follow it rigidly because if the stock behaves uncharacteristically by dropping so much and nothing is wrong with the setup and company is still good then its wrong to sell as the move was overreaction and should just...

--------- But I thought i read somewhere that MMs/ Specialists use L3 quotes that see ALL ORDERS, both visible and invisible (reserve in this case). Any point of clarification here? What are L3 quotes if they don't see the invisible orders?

To be successful, a day-trader must have the discipline of a machine, the instincts of a fox, the emotions of a rock, the skills of a surgeon and the patience of a saint. (And a little luck wouldn't hurt either.) The market does not know where your stops are unless you are doing size...

------------ You wouldn't happen to be working for the rotterdam affiliate by any chance would you:) I say that because they seem to be using an outsourced trading platform called hydratrade which I am curious if its internet/java based or not (is it also used company wide or does each...

------------- Swifttrade will soon gain access to euronext (dunno timetable but maybe in 3 months, they already have access to LSE) so given that you could try contacting them there in the philippines. Unfortunately each BM decides whether or not they allow their traders to trade the different...

Hi, just wondering if everyone agrees with me that if one had $1billion to day trade they would be profitable EVERYDAY as they would control the market in a particular stock with a given market cap (I would look for stocks that had the right amount of volume and volatility, obviously $1 billion...

---------- What kind and what do you mean by cost structure and infrastructure? Would you say if you do have the ability to scalp then is it always more profitable and more sure way of making money? Afterall if all you do is try to get as many small spreads as you can then you might have a...

-------- Well said and agree completely. Again, thats one of the reasons why I believe so much more in proprietary trading, in general you can survive a storm when you're not dealing with your own private account. I think any good strategy/method always has a backup plan for that major move...

----------------- Very interesting observation. But thats why I think we're playing in a much more level field now with these new prop. trading firms where you practically pay zero comissions (swifttrade for example).

---------- Well for discussion purposes I define only 2 types of stocks, momentum and credit stocks. Momentum stocks are those with larger spreads says .20 or more and credits, those with less than .10.

-------- Well, i think its obvious don't you think? All these credit traders would be momentum traders as it would make sense to always enter the market with FOK. I mean if we didnt get the rebates then I'd always enter the market at just the exact moment I feel the level would break. That...