Search results

You must be joking right....arent you the same guy who started multiple threads about how the market, in the face of all these compelling reasons to go down, keeps going up? I think you need to heed your own words of advice here.

Only mental stops, never physical. But I also am a daytrader so I can easily hawk over my positions.

Yeah, sometimes its a blackbox glitch and other times a moron trader enters the order wrong. Either way, its good money!!

FNM was crossed 12 cents a few months ago and my buddy made about 10k just arbing it so it does happen from time to time. Best way to tell is to test it out. But yes today there were a lot of ECN issues, at least at my firm.

Where did you get this stat?

I think they just use their eyes and key on certain words that they know will affect the stock one way or another. The ones that are very successful have been trading this way for 3+ years so they know what to look for.

No they only trade equities, they sit and hawk over the bloomberg terminal and when something news worthy hits the wire, they interpret the news and get super agressive. Its really amazing to watch some of these guys trade.

I work with guys who make 500k+ a year trading strictly news only. So it is being done and done fairly well.

I doubt you'll get any real help from any of your competitors trading the open. Sharing a viable edge is pretty crazy if you ask me. Good luck though.

It doesnt matter what month of year it is, if you ask one person how the month is they'll tell you they are doing great while another is having an awful time. I cant recall any month over the last 2 years where everyone at my firm was kicking ass. I guess this is just the way the markets are...

Dont always follow books, believe me, there is a lot to be made on the open. Just need to learn how to play it.

Trading is a business that many people come into with unrealistic expectations. Yes there is tons of money for the taking, but it takes quite a bit of time to learn how to "take it". Yes, if you decide to go prop, expect at least a 6-8 months learning curve. If you go into the situation...

My very best trades come right off the open. Needs to be the right setup though.

So would you say that you are happy with your trading in the QQQQ's? What's an avg holding period intraday and what do you look to make on an avg trade in terms of pennies?

I agree, many small gains with 20k positions can add up to a nice living. High probability setups combined with superior liquidity can be a beautiful thing :D

Ebo, What do you mean by this statement? Could you please explain?

Libertad, This is what I mean, decent size positions for small gains (5-15 cents). Do you find you are able to do alright trading like this?

Well, I guess i mean looking to size in maybe a few times a day when the possibility of a meaningful move could happen. I'm not looking to make 30 cents on every move or anything like that. I am realistic. But i feel there are several 10-15+ cent moves a day that are catchable. I know that...

I have heard others say the same thing, about the SPY and QQQQ being worthless to trade but with all the volume they put up daily, it seems someone must be making money. I am sure they are much harder than the avg equity to trade, but my main motivation is that with the liquidity being so great...

Does anyone know who makes up the majority of volume on the SPY's and QQQQ? Is it black boxes battleing it out with each other? Since it seems that few here actually trade them exclusively, I am just curious about the major players involved. Does anyone know?