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Good analysis, I fully agree. Daytrading can be profitable if and when you spot the move EARLY and ride it, however profits are often limited as a trader may be forced to stop out while "sweating pennies" trying to make a buck. Although I do daytrade equities, I prefer trading the 3 to 5 day...

According to the SEC's latest regulatory circular, the new exam applies if you're a member of a CBSX firm, and does not exempt a person who already holds a S7, even though they received commentary from another firm that it was an "unfair burden" to ask those who already hold a S7 to take a new...

Here's the excerpt from the SEC's November 12th 2010 regulatory release: "CBOE is developing an alternative to the Series 7 examination that is specifically tailored toward individual TPHs and associated persons of TPHs that are engaged in proprietary trading. CBOE has represented that...

I see this happening on my TOS platform every now and then, and when I ask about it via their online chat, the standard response I get is "it's the data service provider." TOS has a manual correction feature where you can highlight the chart and manually adjust the correct hi/low for the bar...

It just takes a small gain in the SPX and the piece of crap VXX crashes hard. Yes, this "contango" is also prevalent in the ETFs USO and UNG, kind of similar to the volatility premium that gets sucked out of the double and triple inverse funds when the market is in a sustained uptrend...

Interesting post. I still remember clearly when I was watching a stock called RedHat which I used to trade quite often almost five or six years ago. The market was still open but about to close shortly, and all of a sudden a slew of huge bids started coming in and taking out every offer all...

It's often called a "squib" and doesn't mean the stock actually traded at that price on the chart in real time. It can be deceptive especially if your watchlist changes the hi/low for the day due to the squib, even though the print was outside the market and/or could have been canceled later.

Payouts of 100% are for retail accounts, so to differentiate between retail accounts (customers) and prop trader accounts (members), FINRA b/d's that operate as props can pay 99% max, the remaining 1% goes back into the firm. For CBSX, the payouts do vary, however I'm not sure about the 90%...

They did not require the traders to be licensed, and everyone was allowed to trade odd lots via the Orbis platform, but not for Sterling, where 100 share lot was minimum. It is unclear as to how the firm set up its master account(s) at their broker, Solaris Securities, as the traders were...

Ya, I'm also a fan of TOS, despite some minor charting glitches once in awhile. A trader collegue of mine opened his Lightspeed account a few weeks back (but still uses TOS for charts), his rate is $1 minimum ticket and .0045 cents per share. You may also want to check out Speedtrader's rate...

CNBC will be hyping AAPL in pre-market, which will create some definite whipsaw action at the open. Also, AAPL has earnings after the bell on Tuesday, which will add even more volatility. Either way, get ready for a wild trading day on AAPL...

If your strategy is to trade the "high flyers" (NFLX, AMZN, GOOG, AAPL, etc), perhaps you can ask DirectEdge if they still accept odd lots orders from prop firms. At Team Trading, the prop traders (over 1000+) were trading odd lots, all day, everyday, as the firm's broker routed orders to...

Sometimes an "erroneous print" on the live account shows up on the hi/low for the day and thus skew the charts, without self-correcting. For example, if there is a print way outside the market for the SPY which gets canceled later, it can mask the true low or high of the day on the hourly...

Excellent post! Screen time (several years) and OBSERVATION of the price action using multi-time frame analysis with a disciplined strategy for entry and exit is what makes a trader. Just observe the charts, play support and resistance using whatever technical indicators that you feel...

Good point. When the S&P dropped in 2008, it went from around 1300 to 850 in Sept-Oct, and again from 900 to the intraday 666 low from Jan-Mar 2009. That's a huge drop in short periods. The correction is inevitable, it's only a matter of time, and how deep.

I use TOS for mostly swing trading and some daytrading, and from personal experience it's a good retail platform with clean looking charts. Also, you get futures data without charge, live streaming CNBC, and their live chat has been very helpful with minor issues that come up occassionaly. It...

Apparently, IB will allow daytrades and restrict the 4th opening transaction within a rolling five day period for <25k accounts, so you don't get auto-flagged as a PDT and get your account frozen for 90 days. Here's a link for the description...

I believe this was the firm from the show "Wall Street Warriors" where they took recent college grads without charging for training. I also agree with you that if they have a good program, then they can be more selective and not charge. Perhaps they've discovered it's more profitable to...

Read this ENTIRE thread below, and you will have your answers: http://www.elitetrader.com/vb/showthread.php?s=&threadid=181202

Bloomberg TV stated that Chinese banks in the U.S. will allow its customers to transfer up to $4,000/day into Chinese currency, and from the article below: "But there is no limit, at least for now, on the amount that can be converted by businesses, so long as they are engaged in international...