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If you mean by "true opening print" that the NYSE opens at a price and just stays there for the next 30 minutes . . . why would you want to trade that? :) In OTC, you get waves and mini-waves of buying and selling; the ride can be nauseating but there's movement, and last I checked price...

Since when did it become advantageous to use NYSE to daytrade/scalp?? How can sending your order through a person be quicker/better than hitting an ecn? Are you guys all using market orders and hoping the specialist cuts you a break? (lol). In OTC, you get what you see -- the ecn's that...

Seanote, Are your trade signals mostly intraday/mechanical, or do you take into account the market movement for the last few days and incorporate them into your decisions? For example, did the big gap down open on friday after an already extended down move affect your trading signals at...

Umm, if a hedge fund is already paying you six-figures for risk management, it should be much easier for you to nose around and find a good trader willing to take on assistant or at least allow you to watch them at work. Granted their style of trading may not be your cup of tea, but I don't see...

In staring at a number of small and mid-cap stocks, it occured to me that sometimes the volume being printed could easily be "faked". I wondered whether MM's could legally offer say 10,000 shares on ISLD and then proceed to hit his own offer, doing nothing but creating a print (or a series of...

You could also say that all trading is a business, and like all businesses there are cycles of prosperity and famine. So just because we call something a business doesn't make it good business, just as buying a lotto ticket at 40mil to 1 odds when the jackpot is 300mil is actually a good...

Successfully trading around a position will of course require full attention on an intraday basis, but I think "learning how to stay in longer" will only apply to trades initiated which would naturally encounter one or more pullbacks on the way to that trade's ultimate objective -- trades which...

I think the better question is WHY anyone would hire someone relatively new with virtually no money to bring to the table. If learning about the market is your goal and you haven't much to offer by way of experience or bankroll, you may as well try to finagle your way into a decent...

The next level isn't necessarily at a "pro" shop. You'll get leverage, true, but you'll also most likely learn how to trade in a manner which maximizes transactions, and not necessarily maximizing profits. If scalping is your game anyways and capital is needed then by all means take the...

If you want to learn how to ride a position longer, just set a wider stop :) Seriously, in a position where u have decent open profits but think it could go ultimately higher after some pullbacks, I think the best compromise is to divide the position into 2 parts, and trade around one half...

After doing a bit of research on those "Professional" firms advertised here, I find it really funny that remote, do-it-yourself traders are known as "retail", while those hired onto a prop house qualify as "Professional". From what I've seen and read, those "professional" traders sound more...

I would think that trading is more akin to poker with a house rake(house = broker, with the scalpers paying up the most in this regard), as opposed to casino games like blackjack or roulette. No one who trades really has a pre-fixed edge that lasts, even floor traders who pay near zero...

Nice timing again, what was the trigger?

Don't know how much capital you have to spare, but I'm sure you can up the share size/trade and it won't make much impact on trading (unless you are microscalping or playing thinly traded names). By the time you get to the point where you're outgrown a successful trading strategy because of...

Isnt NYSE decimalized as well? Again, why is it favorable to trade against a specialist centered market as opposed to a fragmented one on Nasdaq? Just because some firms "never touched nasdaq for last 10 years" (which I find amazing) doesnt mean they are trading better or that you couldnt make...

There's a whole generation out there raised on trading Nasdaq -- whats the advantage to trading a mid cap NYSE over a liquid but volatile NDX 100 name?

Goal-setting is nice, but wanting to make 1k/day, 500/day,250/day -- for me thinking that way was the kiss of death. Looking for .20 setups and just multiplying by X number of shares * days/year -- this kind of math is dangerous and was exactly what went through my mind before I blew out each...

Keep reading about how NYSE is better for traders now (better = easier?), but what are the biggest advantages of trading against a specialist vs ECNs + MM's? If one doesn't have access to the order book on NYSE, wouldnt setting mental stops on a specialist managed stock be extremely difficult...

Just to clarify, I mean the institutional/hedge fund on the buy side, not that other "profitable commissions generator". :)

I went to hitman's diary site, one of the best I've read in a long while. I am not very familiar with the realm of prop trading, and many of my curiosities were answered reading this site. My question is: is this a reasonable picture of what a successful prop trader is? I mean the trading...