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The market is never "wrong", the market is ALWAYS right! It's us (the traders) who are sometimes wrong with our bias regarding direction. The S&P seems to have buyers at every dip, and then breaks to higher highs, which has been consistent since Sept 1st. Until that changes, the longs in...

Perhaps Maverick or Don can interpret this SEC document: http://www.sec.gov/rules/sro/cboe/2010/34-62977.pdf In footnote 10, it states that CBOE will develop an exam within six months after approval of this filing, however if it does NOT complete development of an exam within six months...

You can check for updated information regarding new regulations from the CBOE here: https://www.cboe.org/legal/default.aspx On October 1st, there was a notice regarding proposed changes within prop trading firms that have master/sub-accounts, however it does not mention anything regarding...

How does one know if the b/d finances their own buyside desk? Thanks.

Just for clarification, Element Trading is apparently an offshore Panama company operated by Charles Vaccaro, who closed shop at Team Trading in March 2010 without returning the unused risk deposits of about 500 traders. Oliver Velez claims he is founder of Ifundtraders, and was a 50% partner...

CNBC offers decent insight if you want a general overview of market conditions, reports on economic events, and if you don't mind hearing the different analyst perspectives. However, if you're relying on those "Breaking News" bulletins for trades, then it's often too late and it WILL hurt...

Many good answers already. Retail brokerages who hire employees that handle client funds (Scottrade, Schwab, etc), will require a 7 plus other licenses depending on your relevant functions at the firm. States may also require specific licenses in addition to the 7. Currently, the props...

Seems like you're paying a very high rate. CBSX firms currently do not require a series 7. Some will start out quoting $5 for every 1000 just to see if you're a newbie who hasn't done any homework regarding the industry. They may tell you that you must do "X amount" of volume to get a lower...

Good question. bearfund.com site claims they aren't affiliated with a CBSX, however bearcapital.com was registered with CBSX. If you click bearprop.com, it takes you to Bear Capital Partners, LLC, but when you click "inquiring member" it takes you back to the "coming soon" site for...

From my understanding of this "one year lock-up", it's part of SEC Rule 15c3-1. Apparently, if the registered firm does NOT hold the funds for one year, then the capital contribution from the trader is treated as a loan (and thus a liability) rather than as part of the firm's net capital...

Not sure about the "doomsday" scenario, however it's very suspect when the futures get bid up, even when it's only a few hyped stocks to generate new highs and lack of participation of the financials. One event which may cause selling is if the Bush tax cuts are allowed to expire. The 15%...

This may explain the "run up" to 1,200 before the plunge back to 1,000 or lower: From Investopedia.com, definition of "window dressing" "What Does Window Dressing Mean? A strategy used by mutual fund and portfolio managers near the year or quarter end to improve the appearance of the...

Having been burned by UNG, I've been reading up on these types of ETF's, and also doing research on ETN's (exchange traded notes). It's true that if the price gets "too low" it could reverse split (such as some of the triple inverse ETF's), but that does no good for anyone who was in the ETF...

There are several career websites you can check out for trading related positions, such as: efinancialcareers.com hedgefundemployment.com If you're already a skilled trader, however, then you might try simply trading for a prop firm, but most will require a capital contribution. Then...

So in this case where they were "stacking the book", it was a broker-dealer and got fined by FINRA. The question is, how was this any different when a Level 2 screen "creates" size, attracts liquidity, and the stock immediately runs the other way. Don't MM's do this all the time? Show...

Now that the heading of this thread has totally shifted focus from Bright's payout to HFT (lol!), I would appreciate your insights/comments regarding the following: http://www.businessweek.com/news/2010-09-13/trillium-fined-by-finra-for-illegal-trading-strategy.html I would like to learn...

LOL!! :D Won't get fooled again! :mad:

ceo2008: Here is a directory of prop firms, which has been posted on numerous threads. It's a bit outdated, from 2007, however there are many firms still around today, check it out: http://www.tradersnarrative.com/list-of-proprietary-trading-firms-735.html Although $5k seems the norm...

And you got this from your LOCAL WHITE PAGES phone book, as was clearly stated in the instructions? Nice try, lol!

Yes, I've read it, and it's an excellent book. "Fullblotter" posts a great point, it's the FRACTIONAL RESERVE BANKING model that creates perpetual debt through a fiat monetary system. Google/YouTube "Money As Debt" and watch the animated film. And then you can film your own Candid Camera...