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I keep hearing these rumors about an options ECN too, anyone heard anything concrete?

Not a good game.

Just kidding, I agree with you; it is a sucker game for amateurs ...

Gene, There has do be some edge to options, you have seen some of our account statements. Michael

Be prepared to lose some money following that advice. I am not saying it cannot be done; just that overall it is unprofitable. It takes, not 5 minutes, but 1/2 hour plus to fight that battle. Depending where the underlying moves, will determine the pain when you don't win, which is usually the...

I agree; dumb idea ...

Very deep ...

The best example ...

Professors and engineers are as a group the worst bet there is; with obvious exceptions, one of my partners is an engineer. The smarter they are, the faster they blow up ...

Without vaseline ...

I know a lot of traders, including myself, that bought QQQ at around 3,000 in September of 2000, because it couldn't go any lower. Traders make lousy investors ...

It is hard to say without getting into proprietary concepts, so forgive me if my example is a little vague. Say the S&P, Nasdaq and Dow futures broke through major resistance, are @ their highs and flying; equity X is trending up following the market and stalls, reverses a couple of ticks...

No, but maybe you shouldn't move SLOWLY. Do you have your mouse set @ maximum acceleration?

If you have not seen a big blow up, you have not been trading for very long. It is the manager or owner's job to take control and mitigate the damages; that is proper risk control. Having it happen shouldn't bring any negative inflections on the firm.

For you guys old enough to remember, this is not news; how about Pru, Drexal, etc., back 10 years or so ago ...

Terra Nova or IB.

One other point I forgot; the system is set up in such a way that you can not even sue them because the exchange is an SRO and as long as the SEC approves, i.e. "rubber stamps" their rules it falls into some obscure regulation that exempts them as long as they abide by the rule they are screwing...

Let me tell you how stupid the SEC is. After 9-11, we got a call from the SEC about some long puts or short calls on an airline stock we did in August. This kid read me my rights and demanded no one was in the room during our phone interview. He was questioning two 1 lot trades, that we were...

Mskl, You are getting as bad as I am about this; but I have to agree. Isn't that a fun conversation when they tell you the "autos" were not designed for you. I have had that conversation with all of them, always the same result, stonewalling. They don't want you to know how to be in...

Because, we are bored and cannot think of any thing intelligent to argue about ...