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thank god i have something to read this morning. What is the purpose of this thread honestly. You scalped for a nickel.... who scalps for nickels besides the MM's and IB's with absolutely ridiculously dirt cheap clearing costs. I am not even going to begin with what is wrong with this thread...

Great post, very well thought out and articulated. I too would be absolutely shocked if this were not true. However it does happen, then there is surely something tradable for others that somehow have access to information. Its much worse in the currency market I have heard.

Not much to update in the past couple weeks. I did find a very interesting internship opportunity that I stand a good shot of getting. It is still going to be competitive. No interview yet, will post most on that if it develops. I started paper trading again this week for my finance club...

ET should require a literacy test before people are allowed to post here. Pa clearly missed the entire point of my post.

This is why i tend to play a solo act opposed to posting on the ET forums. They turn into a bash fest and frankly i dont like to be part of them. First of all everything is relative. I should have clarified the time frame when i made this post. Sure we are in a bull market since 2003, but...

CM no I am not a seasoned trader. I am looking for intelligent conversation on support and resistance with differentiating when to trade the breakout and when to fade the move. I am also looking to discuss quantifying the reward to risk ratio, and trade management. If you have nothing...

You ask three very important questions here. 1. I do not know and i have never been able to figure out how to screen/scan for stocks that meet this criteria. That question is the reason that I even started posting on ET years ago. 2. The conditions for entering could be a thread in its...

CM seeing that this statement is coming from someone that is not consistently profitable but thinks hes ready to manage his 200k trust fund I take everything you say with a grain of salt. I said nothing about a low winning % being a bad strategy, i said nothing of this sort. What i did want...

Buying breakouts, along with attempts to pick tops and bottoms tend to be some of the most common methods that people new to the markets attempt to do. The problem is neither of these methods really are suited for the new trader. Before I go on I would like to discuss the reward to risk...

This guy is either clearing trying to start an argument or hes insane. Im going with the former and the better question is WHY did he make the original post. Lets try to figure out WHY he made the original post

Are you referencing Bill Miller and Legg Mason Value Trust? Even that can have dismal years.... ie last year...

As an update on myself also, I have applied to around 20 places and explored options through my 5 or so personal contacts and ive only gotten interest from 1 firm. This firm is quite legit and im excited and hopefully get a chance to intern there and learn from their traders.

Oh and to dwitherell, I worked at Legg Mason in their brokerage unit which is now smith barney I know what your saying about the compliance and regulators. I realized i wanted to stay the hell out of sales and go more for trading. I owe them that!

My neighbor is a luxury used car salesman. Last year at our block party he shows up with a 2004 mercedes. I proceeded to ask, how much is it? Well his answer i find perfectly appropriate in this situation for you cash. "IF YOU HAVE TO ASK, you cant afford it" so in your case if you...

still no word from any of the firms ive applied to but I do have a couple more leads. Ive realized this business is a CONTACT sport, the more people you CONTACT the better chance you have.

what exactly do you mean reversion mav the way you are using it in context is a little difficult to understand, do you mean mean reversion within the intraday sings like on a 1 day 1 minute bar chart?

depending on the market as a whole the bollinger band buying breakout strategy (buying when the price touches the upper or selling when touches the lower band) is one of the most difficult strategies. I did research for about 6 months before I started trading real money using the system. I...

you bring up a great point in risk when your account is rather paltry. I think you should continue to use your same level of risk overall. However i think there are special circumstances when you should get aggressive. These circumstances are not for the new trader. Under these circumstances...

So in the past month I compiled a list of firms that i wanted to intern at during this summer and kept up with some of the industry contacts that I have. As of today I have applied to around 10 firms and have yet to hear back from any of them. This is dissappointing but not a total loss. I am...

As a professional trader we all seek to have as many edges as possible, one edge i have always felt that professionals have more than the general retail public is a technological edge. Most professional traders whether they are on a trade desk, a prop firm, or those that do trade professionally...