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I'm usually out of all positions within 20 minutes. I scale out though and may still have a couple hundred shares left if something has started to trend. In that case, I'll put a stop on it and carry on with my other trading. Openings have been working good, but I have been missing nice...

There simply weren't the number of opportunities for a trader in his day like there are now. Placing trades every day probably wasn't a good idea because you'd really be pressing it to find good set ups every day. There were only so many stocks, you could only watch so many tapes, it would...

A friend of mine was escorted by someone from the cbot on a tour of the trading floor last week. She was now 'hoping' for a fall launch off ssf's. With the red tape and bs we've seen up to this point, I'm not holding my breath.

Added a dozen new stocks last week and am up to 70 now. Average fill rate is 8.5%. Always scale out of winners, will dump the whole position on a loser, depending on the tape. Win rate about 65%, but trending up. Avg winner about 2 times larger than average loser. I adust share size and...

Not saying I agree with it, but Gary's comments don't seem too out of line to me. (that's Gary B. Smith from realmoney.com)

When listening to the squawk box, I sometimes hear the commentator say that 'the mini is leading it down' or something like that, meaning the guys in the pit are keying off it. But I prefer the squawk box to the mini for an indicator because you don't have to look at it, just listen.

The bottom line is the only thing that counts if you make your living trading. Some guys will trade more volume before lunch than others will do in a whole month, just depends on the strategy you are employing. Some guys try to make a nickel and some try to make a few dollars, but they're all...

I know of one guy at our firm who is consistently making 3-5000 a day and we discussed it and figured he was probably making more than just about other prop trader out there. I think a million dollar year as a daytrader would put you in extremely elite company. Low to mid 6 figures would...

I learned virtually everything I know about technical analysis from Gary B Smith, who writes for realmoney.com. All his past work is still available for free in the archives of thestreet.com. He only looks at price, volume and trendlines, so it's pretty simple, but I like it that way.

This thread was replaced by Don's openings part 2 http://www.elitetrader.com/vb/showthread.php?s=&threadid=4323

Dude, you're still not getting what I'm saying. I'm refering to people who put everything down on one stock and rode it to the bottom, then go looking for blood because they were duped. That's just pure greed. People who responsibly put together a balanced portfolio based on a broker's...

My point was that if you are a retiree and you put your entire life savings in one stock, you are greedy and stupid. Of course the broker is greedy and stupid for recommending it, and deserves to be chastised. But you can't say the 'victim' is not responsible for the position they find...

I agree with Def. It's a sad comment on the whole system in general that people can always find a scapegoat to bail them out of a situation that they are in because of their own stupidity. It's human nature to not want to take responsibility for our own actions when we've screwed up, but if...

What I find amazing is that you are doing it from an Ameritrade account. You obviously have a style that is a good match for your personality and that you thouroughly understand, both critical to trading success. I'd stick with what you are doing as long as it's working and keep learning all...

I've been a subscriber for many years too and pretty much agree with you. Greenburg is a money maker and DePorre is pretty good to. Their street notes morning breifing always has analyst up/downgrades that yahoo and briefing seem to miss, important for my opening orders. I mostly read it to...

You can start with $10,000 but you don't get as much leverage as you would with over 25k. I think it's 5 to 1 up to 25k. The training course is not required at any point. If you do take it, you can return for free as often as you like. Demo mode is an option with the echotrader software...

I'm leaning more and more this way lately. Right now 80% of my trades, aside from openings, are in 4 stocks. I've known that this was a good technique, especially for newer traders, for some time, but also thought that I'd be limiting myself too much with it. Now that I've spent time doing...

I shorted a stock under $3 last year with Interactive Brokers. The margin was higher, but I didn't have any problem doing it.

The point of opening orders on the nyse is to participate with the specialist. Since there is no specialist for naz stocks, all you are doing is making a bet that the gap will come in, which can be a valid strategy on its own, but is not the same as what we are talking about here.

June 1994, Mill City Gold. They had some property surrounding the hot spot for diamond exploration in the Canadian north. My buddy's room mate was a pilot who flew a geologist out of the camp and had a 'hot tip'. I was newly married and didn't have a dime. But since it was a sure thing, I...