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BillyJoeBob- a quick perusal of your posting history reveals you are quite a newb when it comes to trading, with some pretty classic newb views on how things 'should work'. This thread is about an experienced professional trader showing some insight into how things actually do work in our...

It sounds like you don't know much about prop trading or trading with professional leverage. You might want to do some research.

Have you ever tried to trade 10,000 shares in a stock that does 300,000 shares a day? I already lose hundreds of dollars a day in slippage at the size I trade now. In the stock world disappearing liquidity and thin markets are major constraints when it comes to putting capital to work. Your...

Any automated software I use is custom written, not off the shelf. I think it's written in vba, but I'm not even sure.

Even though the ES dropped 25 points from open to close on Thursday, intraday mean reversion stuff was decent. Just because the market is trending doesn't mean it is completely linear. There can be lots of opportunity along the way. Now, on longer term mean reversion trades, stuff I might...

I don't attach charts to my trades, but I used to when I was mainly swing trading. I would save the charts in a folder then use a hyperlink in my excel sheet on the line for that trade. Clicking the link would bring up the chart. I do use a power meter, I have an SRM system on two of my...

Pretty decent week, but I had to wait until Friday for it to happen. +$16,800 gross 576,000 shares traded. Monday started off with a couple grand in the error file as I accidentally canceled an order to get me out of a stock Friday afternoon and carried it short into Monday. Another...

Yes, you only see a handful, but where would you expect to see them? The people you mentioned in your earlier post aren't traders, they are money managers or investors. You've heard of them because it's in their best interest to have public exposure. Either to raise capital or sell investors...

Agree with the above comments. I'll take experience over sharp reflexes any day. Just because you're a scalper now doesn't mean you have to be a keyboard monkey your whole life either. I doubt I'll ever stop, but when I have enough cash to not need any more, I think I'd definitely slow down.

Here's a visual of the month <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2716420>

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2716412>

Monthly summary: Decent month, but most of it came in the first half. Some nice volatility to end the month though should pay off in the next couple weeks. Nothing particularly good or heinously bad stands out, which is just the way I like it. Traded all 19 days, 15 green and 4 red. Net...

Crappy finish to what was a decent week. Just a couple bad stocks on Friday that would not come back. Big move against me early, then flat line all day. Was also building into a couple small long positions to hold a while that finished red. -$8500 on the day, +4500 on the week, 657,000 shrs...

I was 31, I'm 39 now. For anyone who didn't read my earlier post, I didn't "leave my wife and kids to trade". They stayed home while I went and traded in a prop office a couple thousand miles from home for a few months.

Lucky! I get to SoCal once or twice a year and surf every chance I get when there.

Pretty mediocre week +4,300 gross 119,000 shrs traded. Got caught in some ugly healthcare stocks after the republican election win. I anticipated it and adjusted my orders, but not enough I guess. Then the next day I had a software glitch that prevented me from trading my main strategy on...

ES went limit up on the morning the gov't banned the short selling of financial stocks in september '08. SPY was trading pre market though, up more than 5%. Don't think just because 5% is the limit that that's the most you can lose on an overnight gap.

It didn't. It had to do with controlling 30,000 shares of a $400 stock on a $400k account.

If I make money it's chop, if I lose money it's trend. :) Seriously, I don't try to figure it out. If I get a valid entry, I take it.

I would expect a -10k day once or twice a month, 30-40k, hopefully not at all, but they do happen, maybe a couple times a year, but that is really affected by volatility or major market events. If I'm losing that much on the bad days, I should be making more on the good ones. Bear in mind...