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aphexcoil: Absolutely Amen to that! I do think it's my responsibility as a trader to know how to hedge risk and react to events. I'm not thinking in terms of profit but in terms of not letting my account and those of my mother and sister be subject to the whim of some madman any more than they...

Let's say you were long an unhedged stock portfolio on 9/11/01 (as many of us were). After the US markets were shutdown, what would have been some ways to hedge? Were any markets open in the world? And if so, how would you even be able to buy or sell on them? P.S. I don't mean to minimize the...

I know the option you sell helps finance the one you bought, but you are also giving up a large chunk of your upside. Doing these w/ a week or two left has time value working vigorously against you. Doing them further out you get a pretty flat risk curve, so the delta is pretty low. Why...

Vinnie, Yeah, I loved Murcer when I was a kid. He mostly had just warning track power, but don't most of us? I'll think over shortboy, you may have swayed me.

Nonetheless, my observation seems pretty valid. He enters orders as follows: KSS sell 500 @ 65.70, buy @ 62.10, buy-stop @ 68.10 If you're filled but the exit buy or buy-stop are not met, then you're holding overnight and susceptible to up gaps--or even down gaps interms of getting out too...

How did you decide on Longbull? Who else did you look at? I'm also thinking about day trading and am wondering if it's better to startout with a chatroom/picker than fly solo in the beginning. Thanks for your input!

Are you using Shortboy? What does he do with open positions that don't hit his buy stop or his buy limit?

Do you think Level II quotes are helpful/worth the cost for: 1- day trading tying to get <=$.25? 2- day trading going after a bigger move? 3- with large cap stocks? 4- with medium cap stocks or even pretty illiquid stocks. Thanks a lot guys!

I imagine there is a plethora of orders of all types entered before the market opens. How does this hodge-podge of market, limit, stop, stop limit, etc. orders get matched and an opening price decided upon. I imagine this process is somewhat defferent depending on exchange, e.g. NYSE vs...

No, I forgot to put the word "heard" after "I've." Sorry.

It seemed like a good idea when I owned it, but it never worked properly, along with the rest of 2000i. I am almost positive that TS no longer sells those products in the US. The main problem was with the Global Server data delivery system. So now they only sell TS6 which is okay, but a...

Do those exisit in the options world?:confused:

What bad habits are you refering to? I didn't know paper trading can develop bad habits.

DeMark and McMillan have written that options may make good vehicles for day trading. But I look at the spreads and liquidity of even the actively traded contracts and I wonder if these guys are right. I mean day-trading usually entails taking fractions of a point. Since most options have...

Sounds like we've got our own ECN here. :) Thanks for the answers.

What if this happens: You buy a liquid option, let's say an at-the-money IBM 80 call. The market keeps going up to 120. You now own what I imagine is a pretty illiquid option (b/c very few people buy calls w/ 40 points of intrinsic value). So are you confronted with only low bids if you...