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Not quite like that. Too dramatized. Throw a market order, get filled in less than a minute and get the price 5-10% away from the print? Look it up yourself. The most recent one: Sept 15, 2008. See how the price moved intraday. The Dow started off with something like -300 point gap...

We know nothing about your trading platform. This kind of questions is best to be directed to your brokerage firm. Usually in the order screen there is a "time in force" (TIF) option where you can select whether your order is to be for regular trading session, pre-market hours or post-market...

Having a backup plan is fine. One usually seeks for something comparable. You do your website, EBay selling or whatnot. But seeking for a labor job to supplement trading seems odd. If you are a CEO making over $100,000 a year would you seek for a second job as pizza delivery at night "in...

I don't understand. If you can make money trading, why would you want to have a second job? The money you can make from trading should be far exceeding the wages you get from any job. If you lose money trading, then you should stop trading. The wages you get from your "second" job would...

RE: Scalability for day-trading Day trading can be very scalable, depending on your instrument of choice. Of course you don't day-trade penny stocks and expect that to be scalable. You pick the most liquid stock or ETFs. For example, trading SKF, SPY, GS, AAPL. You can trade 1000...

I found a lot of holes in what you said. But my brief sob story: Feb 17, 2004: I shorted 500 shares of RMBS at $26 for a "swing" trade. Feb 18, 2004: RMBS gap-opened at $36 - $10.00 gap! All my stop orders were blown. I lost $5000 overnight without having a chance to maneuver or...

My condolescences on the long SKF 100. (And FAZ at 26.) The broad market S&P and financial was in a screaming short squeeze in the last hour. Why take the chance? If nothing else you could pick that up at a lower price. I wouldn't (and didn't) stand in front of a freight train. Will...

I can upload the simple OHLC line chart if that pleases you. Or even the ticker prints. You can make yourself more useful by helping with the poster's question instead of taking potshot at other people's post.

All I see is a game console and a TV. How do you place orders to trade?

Within $2 from 100? It did trade down to $100. I was watching the pre-market prices. SKF traded to 99+ for a brief moment. It traded at $100 after the open. But it was a very brief moment.

I don't think this is quite the case. Granted the distribution is not a "normal distribution" curve. Most of the traders lose money. Some break-even at best. But if you say "the most successful traders" make USD$300 a day, I think you need to redefine your criteria for "most...

Are you consistently losing? If you are, perhaps you can hire a friend to trade a separate account with 10 times the money. He will WebEx monitor you on your every move, every day, but bet in the opposite direction with 10 times the capital. Voila! Pay him a little bit for his work and you...

That sounds like the strategy used is not a good one. In order to make money you need to factor in the commission and the spread into your trading strategy. Those are your overheads that you must overcome before you would even be profitable. If what you "gained" was not even enough to pay off...

I trade mostly 1 ETF for the past 3-4 months. About 90% of the time (the rest is GS and AAPL): SKF It's inverse to the market's movement. SPY goes up, SKF goes down. Almost tick for tick. It is the inverse of the financials but SPY is a pretty good counterpart indicator. SKF moves...

Sandybestdog: My point being is a computer program can only be as good as the thinking of the programmer. A computer program can execute faster, check more variables in real time, etc.. But whether or not that program would make you money is a function of the programmer. If the...

If you have never been profitable making discretionary trades, what makes you think you can write a computer program to auto-trade and be profitable? If you know what to do so you can write a program to trade, why weren't you profitable?

MasterTrader uses Penson for clearing. It is the clearing firm that holds the inventory. Penson is usually pretty good. But I only trade very few stocks/ETFs: AAPL, RIMM, SPY, GS, and recently SKF. SKF and FAZ in recent days were not available for shorts. Too many people had shorted them.

UYG and FAS prices are too low. You need to buy many of those shares to achieve the desired effect as 1k SKF. If you pay commission on a per share basis, this is not viable. Been watching GS versus SKF. Not a good substitute but viable. GS moves slower and less than SKF. The ratio is...

I just looked at the pricing of SKF puts. Mar 140. Wow! The spread is 50 cents. This is detrimental for scalpers. Shorting SKF with puts... can only do it at swing points. The spread can kill me.

I think even if the uptick rule is held for SKF, it would be extremely difficult to enforce. Especially SKF. The price jumps back and forth and never goes in an "orderly" fashion. Like this: 139.45 139.50 139.41 139.49 139.32 139.42 139.25 139.30 The trend is down, but every or...