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LOL to that post above! It seems that big brother Bob is the good trader and Don is the administrative guy who wishes he could trade. He certainly talks a good game but he's better suited to trolling the internet forums with his shill, Cash Money, and recruiting newbies. Let Bob do the...

The poker/trading analogy is mostly suited to stock traders who follow a select number of stocks and know them intimately. The rules for poker are fairly simple, but what makes excellent poker players is the ability to learn betting patterns and "tells" of his fellow players to swing the odds...

I think by "passive" you really mean "patient." I've heard of patient hitters in baseball but NEVER a passive one. A passive person is submissive by nature, doing things half-heartedly and without conviction, i.e. a meek pussy.

I stopped daytrading in 2003 after five good years. I cashed in my chips and have never looked back. Now I'm a business owner who swing trades on the side.

A passive person thinking objectively will miss all of the good stock prints. The aggressive trader will be getting his fills at optimal points and the passive one will miss the boat and constantly be a step behind. While both individuals may be trading the same stock and employ the same...

Great traders come from many different backgrounds, from Wall Street to Main Street. If a trader is "home schooled" but is consistently profitable after several years and putting up good numbers then that's all that counts. Some of the great traders from the Market Wizards books were home...

Knowledge is vastly overrated. I knew a ton of traders with a great deal of knowledge about the markets but couldn't trade their way out of a paper bag. Knowledge is nothing without the ability to act quickly and decisively to what's going on in the quote screen. Discipline is also far more...

I'm just referring to daytrading, not the other professions. There's too much smoke and mirrors going on in the industry that prevents aspiring traders from making fully educated decisions.

That Bright should have more stringent criteria about who should become a prop trader besides breathing and interest.

The ability to take money out of the market on a consistent basis as a prop trader is one of, if not THE most, challenging endeavors anyone can do. And I'm not talking about making $50 per day but enough to live very comfortably off of. The odds are stacked very high against new traders...

Trading firm to open doors to new people By JOHN G. EDWARDS LAS VEGAS REVIEW-JOURNAL 3/11/04 Las Vegas-based Bright Trading is offering young workers -- including some as young as high school seniors -- an opportunity to learn the stock trading business using the firm's money. "You...

The best daytrading firm? Not quite. Maybe the best at overeating! LOL

Great. Now they're going after college kids saddled with school loans and asking them to cough up a $10K-20K "performance deposit". Playgrounds are probably next!

Pair trading is too complex a strategy for beginning traders. Most stock firms have gone the way of the dinosaurs because prop daytrading is no longer a lucrative occupation and these firms failed to replenish the traders that left at a fast enough rate to grow their trader base. Over the past...

Pair trading is too complex a strategy for beginning traders. Most stock firms have gone the way of the dinosaurs because prop daytrading is no longer a lucrative occupation and these firms failed to replenish the traders that left. Bright is still in business because they have a huge...

Depends on his style of trading. If he trades penny Naz stocks for size and just plays the spread all day long (aka rebate trading) then the volume makes sense. It's not that hard to make a penny or two on 10K share positions several times throughout the day. It's just mentally draining.

What are the "professional fee rates" for quotes? The vendors charge the trading group a monthly rate for the data feed. There is no extra charge if the data is distributed over the internet to 1 or 1,000 computers. As for the software, there is no cost to the trading group for multiple...

So Bright charges you $200 per month to use your OWN desk at home? Do they also charge you to eat the food in your fridge? That's really insane. Geez, a trader who can breakeven at Bright would earn a six figure income at another firm!

It all depends on the compensation incentive for the good traders. If compensation is primarily derived from commission overrides (hence the high rates to newbies), then a head trader has no incentive to groom a new trader to become profitable. To him, a new trader is just a body for churning...

My bad! Sorry Wikipedia!