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Remember the news will always be worst when the market has already rallied off the bottom for some time. Doesn't mean that we've seen the bottom already at this particular point in time, but just how it works out generally.

Use Pass the 7 book and practice tests from SCT or STC whichever. I hadn't taken a test in 12 years and studied for 5 days and passed easily.

Lots of things make little sense. Usually things work -- until they don't. Ironically, you can probably make as much money betting on PASS as DON'T PASS. The trick is to figure out both sides. Knowing your chart patterns isn't enough, you have to know when they will succeed and when they...

Learning the tape is like learning how to play poker, knowing the ranking of the hands is just the very start but many traders never get beyond that level. What you know you have, what you think your opponent has, what your opponent thinks you have, what you think your opponent thinks you have...

The sad irony of it is this: you can only really succeed in trading when you don't give a damn about the monetary rewards at all. By the time you start putting on those big trades and taking points you never used to imagine possible (CME anyone today?), it will all be very anticlimactic. The...

Someone in my office probably has one losing day every 2 weeks or so, so yes, it's definitely achievable.

You will be buying 2000 pts higher :D

So you learned the market IS out to get you. Congrats, that's progress.

Just squeezed by on the 55, the questions (or answer choices more specifically) were much more difficult in terms of just being pure memorization of rules. There seemed to always be at least 2 plausible choices to guess at. Now on to the 63 -- advice anyone?

I was given "PASS THE SERIES 7" which was only a few hundred widely spaced pages and made things very simple. Coupled that with an STC quiz cd, I studied for basically 3 days straight and passed with an 88. I'm now studying for 55 test tomorrow with just STC manual and cd, I think it's...

Any excuse to meetup at a casino -- count me in! But seriously, what are you guys (specifically Goldman) presenting?

Depends on what kind of results you want. Put some more time and effort, you'll get more results. Question is, how far are you willing to go? How determined are you? Give-up-your-wife-and-kids-determined? No joke, it could come to that if you are that deadset on succeeding. For...

Fine, I'll start. You don't generally care about percentage returns when it comes to daytrading, there are too many variables that will affect your absolute p/l range, such as what stocks are you trading, how many shares per position, leverage, time frame etc, so if you want to risk more to...

Ok, that's news to me. Maybe I should push it to Monday then. PS I have no life and since I'm not behind my desk can devote 14+hrs/day to studying.

But I don't need 20 pages to explain to me the difference between a put and a call. Due to illness, I'm spending 4 days at home to study for the 7, I heard the 55 is much easier and covers some of the same ground so was wondering if I could knock off both back-to-back. Insane? Give it another...

How close should you schedule your 55 after taking (and presumably passing) the 7? Is the next day too ambitious?

It might just be my ignorance, but isn't trading for GS and trading prop for yourself - even with tens of millions of buying power - a totally different game? I think it's a fallacy to assume that success in one automatically translates into success in the other. Whether or not one is...

thanks

Still wrong. Are there sub-par "systems" that would fall under b1s2's criteria? Of course there are. But sub-par is the key word here. Let's end this line of discussion here. EDIT: It's really silly when you think of it, spending time on a forum trying to push one way of thinking over...

Do you really consider FSLR or GS or AAPL illiquid stocks? These are all the daytraders' favorites. Lemme put it in terms as abrasive as b1s2: EVERYONE who is a successful intraday equities trader, week in, week out, scales in and out of positions. You CANNOT be a successful (say...