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The firm will cut you off long before you could do any real damage.

Unfortunately for 95% of the daytraders out there, being free thinking doesn't pay the bills. Burritobob, daytrading will always be around. Concentrate on graduating with a good GPA and then evaluate your options. You've had mixed results trading the emini. You have to consider if you...

If you're smart, hard working and have a college degree from a halfway decent school, then you can always find something good. Having prop trading on your resume is not the kiss of death. If you're looking to break into a different industry, just embellish the job description so people will...

He's too busy posting on ET!:cool:

So did you trade in the middle of the night in Hong Kong? That's dedication!

Just because you're blond doesn't make you stupid!

Damn, just when I was about to jump back into daytrading full time.:eek:

I lost 150K during my first six months learning to daytrade. Thank GOD it was the prop firm's money!:p Don't worry, I made it all back for them eventually in the form of commissions and profit splits.

Nice link. This would make a cool movie! What's a good title? "The Big Squeeze?" or "Kraut's Revenge"?

This phenomenon is called "crab mentality" which is best described by the phrase...."if i can't have it, neither can you". It's a metaphor referring to a pot of crabs in which one of them tries to escape and instead is pulled down by the rest of them. _________________________________...

Interesting concept. But won't you end up chasing trades because of the lagging effect between interpreting paper trading results and the systems turning themselves on? You're assuming that there will be follow through and the performance of the live system will mirror the results of the paper...

The problem is: how do you write a system that can identify the prevailing market tone/sentiment? This is a fairly subjective assessment that must take into account a wide variety of data (i.e., volume, volatility, VIX, TICK/TRIN, stochastics, global indicators, economic news, world events...

This used to be a really good forum until idiots started running amok. The mods should ban people like NY Hood so elitetrader can become a quality site again.

Being new to the business, you really can't call your own shots. If you're unable to get into a firm with a good training program (these are pretty competitive), then you'll have to put up your $5K in risk capital and sink or swim on your own. That's the harsh reality of this business. There...

That's right, I helped cause the financial meltdown with all of my predatory lending practices. I admit that I lent my nephew $10 last year and made him pay me back $1 in interest. Now I KNOW you're mentally unstable. Go back to churning the ES with your 1 contract, you big swinging dick you.

Hindsight is 20/20, asshole. And what do you think would happen to stock prices if all these hedge funds dumped their multi billion dollar portfolios on the market before the crash? The crash would have been WORSE! Go back to playing Warcraft in your parent's basement.

Damn. My cover was blown.:eek:

It's funny how big shot internet traders with their $20K accounts take a perverse pleasure in seeing hedge fund titans take a beating. Trying to get out of billion dollar positions is a little different than trading in and out of your 100 share lots. What a joke...

I saw an ad for this in Active Trader magazine. Does it sound too good to be true? www.thewizard.com

If we hit 10 we'll be living in another Stone Age (or post-apocalyptic wasteland)!