Search results

They sell your orders so your fills are meaningfully worse than with direct access. And.. no matter who you use, resting-in-the-market limit orders often suffer from adverse selection.

I strongly suggest you get the book Traders of the New Era as it answers many of the questions you will have. The most accurate book addressing trading in modern times I have see-- a collection of interviews with mostly winning traders and savvy people in the industry. The author is a...

Poor advice to give someone seeking to learn., especially when it comes to trading. "Be around people whose behaviors are better than yours and you will drift in that direction," Warren Buffet Most of the world's greats had mentors and they openly acknowledge this.

Of course technological progress makes it harder for mom and pop day traders to win: Here is an excerpt from a 2010 letter from the most successful day trading firm, Shoenfeld, to it’s fully fully trained and fully backed traders before it fired most of them: "unfortunately, our vision of the...

Nice sharing. Thanks.

Which member admitted to being duped?

I was trying to make fun of the poster, did not do a good job, and it may look like I was in some way disrespecting Xela. Look... Xela is a woman and a winning trader. Xela was a sincere, knowledgeable and tireless poster on ET who is in the rare position of having more likes than posts...

Worse than worthless.

Too difficult? Your thinking is already way off. Since more pros use IB than any other, I would be concerned with finding out why this is the case. There are other good ones but you want to look for the truth of important situations. Look... expect to be initially confounded wherever you go...

You should know. Sigh...

Very bad idea. NO WINNING TRADERS DO THIS. Eventually that one big lose comes up.

You are a sucker for binary options. Please Google all about them and you will see the "honest" firms take too much vigorish so you will not win in the long run unless you are Michel de Nostredame usually referred to as Nostradamus. If that is who you are, there are better ways. Seriously...

Most prop traders lose money and very often they are taught by losing traders. Their prop firms make them deposit money calling this a performance bond and when that money is gone so is the trader-- while the firm collects fees, commissions, etc. Shoenfelf was once the largest firm and they...

Commissions matter greatly Commissions matter, in the real world. For some traders saving on commissions (paired with top execution and many routes) could be much of their edge- a trader who makes two cents a share before commissions, for example. Could be a good way to learn and get...

Here is the summary of my FOREX seminar: Don't!

No professional day traders trade with Robinhood. All orders are sold and traders receive too msny poor fills. No free lunch here... seriously.

Taking liquidity and providing liquidity are terms with exact meanings in the industry: traders, brokers, exchanges, etc. Perhaps I did not make myself clear so let me give two examples where a trader is looking to buy stock: TAKING LIQUIDITY WITH A LIMIT ORDER, EXAMPLE: When a trader puts in...

Limit orders that hit the bid or offer are taking. Limit orders resting in the market needing the price to move into them to execute are providing. Traders who rest their orders in the market would be wise to learn all they can about adverse selection as well as all of their routing options...

"Learning from the best beats trial and error." -- An excellent rule of thumb. Of course deliberate practice and experimentation will be important as well.

Most likely he is no longer killing it. Guys that are killing it rarely advertise to teach random people. However, please let us know how it goes if you take him up on this.