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What ruined American Beauty was that one line where Spacey spells out the entire point of the film for all the dumbasses in the audience: "<something to the effect of on the outside we seem like we're normal>, when we're anything but." No shit sherlock.

Is it possible for a trader just starting out to turn a small account into seven figures in the futures game? Virtually impossible, IMO. However, for a trader who's spent years at the game, someone who while starting out failed again and again, until finally he succeeded beyond his wildest...

Games like that are played in after hours all the time on the more illiquid nasdaq stocks. Stock will close at 22.69, after hours spread goes to 22.60x23.69; I've caught myself a few times almost lifting that offer without thinking. re: market making $1 away, I'll bet that for every sucker...

I think it's really difficult to trade off mechanical signals these days -- especially since characteristics of each trading day are so different. So many factors affect how the market moves that I would find it impossible to put faith into one single technical indicator. These are just...

Is it worth paying attention to T/S and depth if you're trading small lots of NQ's targeting about 10 pts per trade? I've only been using the top bid/ask size -- is there any heads up to be gained by looking beyond that?

I don't touch the Q's nor any of the biggest cap Nasdaq, just meant that the specialist system doesn't make trading any smoother from what I've seen. The stocks that give "easy" 1/2's and whole points are usually the thin names that don't move at all most days and/or have wide spreads. I...

Thanks for all the replies. The main reason I wanted to go with options vs outright stock is that it's much easier to sit in the position since the risk is limited --I don't mind a large percentage drawdown on the premium I paid, and am willing to think of these as all or nothing bets (my...

Anyone use long calls/puts for swing trading with a 1-week average holding time? Here's an example: if last week you wanted to bet that IBM would retrace part of its surge up to 83 (targeting around 75-76), which strike Sept put would you buy, given that you only intend to hold the...

One trader's "headfake" is another's entry point -- volatility can be seen as either 1) a nuisance for those who set 2-tick stops, or 2) a provider of constant opportunities for lower-risk entries. I'll take a fragmented market with instant executions over a specialist/floor that can pull the...

I just opened my IB account, and on a 3.5 Mb/sec cable connection I get filled the instant I touch the transmit key; however, I'm lucky to also have separate software for emini quotes, the IB quote server went down a few times today although the sending trades seemed to be functional throughout.

If you're scalping for quarters on nasdaq, L2 is a necessity, especially for the more volatile names since you really need to know where you can get in or out volume-wise. If you're trading off 15-minute charts or longer, it's basically just noise. Even if you don't use L2 to base your...

Trades based on chart patterns should have larger targets and wider stops; the better setups for scalping are fading expansion bars after an extended move or anticipating "failed" technical breakouts.

Anyone recommend a broker for emini's with a platform that runs well alongside Realtick? Do retail traders these days have the same direct access capabilities with emini's as they do in stocks with ECN's? (last time I traded a future this was only available to those with globex terminals)...

Going for "quick" gains is not necessarily an advantage; sometimes "scalping" conveys a picture of constantly getting in and out of positions, but don't confuse it with market making. Your one advantage (vs the disadvantage of commissions and the spread) is being able to wait for ideal...

Anyone remember a few years ago, a biotech called Entremed gapping up from 12 to 80 on a "news" article that was actually a year old? I remember the manager of the daytrading office came in before the open and told everyone that he'd let them short the stock as long as we covered before the...

These guys hit the nail on the head: it's not the end of the road, but just the beginning. To me learning how to trade really is a craft that can be honed, by slowly whittling away at bad habits one by one until you achieve consistency and profitability. If you find yourself making the same...

I think the impact of commissions and spread cannot be overemphasized. I was one of those losing traders in my futures account -- I managed to pay out triple my equity (high five figures) in the course of a year in commissions before blowing out in frustration. In other words, had I not...

Ahh, now I remember why I have no money in my futures acct. Just need a reminder now and then :D

Just don't trust this rally, don't think nasdaq can sustain its gains today. Uh oh, I think I just killed my chances of making any money on the long side. Yeesh.

I'd be shorting NQ right now (997). Paper trading rules!