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I got greedy on that trade. I was over a point in the money from 30.40 and was looking for a larger down move. Had a trailing stop at 28.5 when it was trading at 27.7 and got stopped out on the last 1000. Still made some cash so it was OK.

10:47 Covered 1000 ADRX at 28.9 Position Flat

10:15 Covered 1000 ADRX at 28

9:05 am Short 2000 ADRX at 30.40

There are still a lot of great opportunities out there on the short side! People at my firm have been doing well shorting stocks with bad news on Nasdaq. Did you see BBOX last week? One guy made $35K shorting that sucker!

I can consistently do that scalping Nasdaq stocks. The problem is that my goal is more like $1000-$1500 net each day and that tends to get me into trouble. I'm just not disciplined enough to stick to a smaller goal and I'm too greedy. I should probably adjust my daily goal downward. BTW, I...

If you want remote trading, open up an account with Datek. It's a lot cheaper than going through a prop firm. Remote trading with a prop firm is almost the same as being a prop trader. The disadvantage is that you still have to put up a large deposit and you get zero training. Datek has...

I wouldn't totally discount Treykool's numbers. My numbers are just a little lower than his, although I've been trading for over 2 years. His style is probably similar to mine which is momentum scalping. My trading is more like Seanote's, although he's MUCH more consistent. Give Treykool...

Yup. I made about $12K on 300 shares that day. Bought damn near the bottom before it was halted. I almost peed my pants... Two hours later it opened up 40+ points. Ah, those were the days.

You can make a decent living in today's market (high five figures, early six) if you trade conservatively and disciplined. I don't think Seanote's trades are typical since I didn't see a single losing trade. The worst trade I saw was a breakeven one. You must really be in the zone to trade...

If the trader is gross positive but net negative, they will probably be reviewed on a case by case basis. For example, the trader that does 3 MM shares a month will most definitely be kept whereas the trader that does 300K shares a month might be let go.

My prop firm gave me that deal only because I had trade blotters to back up the fact that I was experienced and pretty consistent. I could never lose 25K (or even 10K) because I don't take that type of risk and the stocks I trade are very liquid (Nasdaq). My average share size is around 2000...

But at any given time, I never use up more than $150K in buying power for more than 10-30 minutes. The rest of the time, my positions are flat. Also, I never go out with any stock overnight. Does this alter my risk profile favorably?

By the way, I made more than a 300% return last month. My capital contribution to the prop firm was 5K and I have 300K in buying power. Last month, I netted 17K. Does this count as a 300% return on my capital contribution? Can I open a fund and claim a 300% return in the month of May (my...

IMHO, Newbies with limited funds should not put up money to learn how to trade at a prop firm. 9 out of 10 will blow through their accounts before learning how to trade well. The 10th one will either be a trading prodigy or not be trading actively enough to really learn the tools of the trade...

The patient sniper approach does work. I traded QCOM on Tuesday and Wednesday for momentum (long) and netted $3K for myself with 2-3000 share positions. After the momentum died out, I stopped trading and went home. The key to making money in this market is to be super selective and find...

Prop firms are more concerned with your profitability than health insurance. Most firms pay its prop traders on a W-4 basis, which makes them independent contractors. You are responsible for paying your taxes and health insurance. Monthly salaries/draws and paid health insurance for prop...

When you guys discuss prop trading, are you also referring to Nasdaq market makers? Market makers still make a decent living and I wouldn't mind having that job.

The books are published by Securities Training Corp. www.stcusa.com

The behavior of stocks can be construed as random, but this is irrelevant. Your decision when to trade and when not to is NOT random. Your decision to hold on to a winning trade and systematically take profits is NOT random. Your decision to cut losses quickly and admit when you're wrong...