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The best things about this thread are the pretty fonts and colors.:D

If, after a year, you haven't made the type of consistent income that you can live comfortably off of, you have to step back and take a reality check. Let's face it, this is a brutal market and it's tough to make a good living. The market will always be there and once the bear market is...

If you can do that everyday, you'll be alot better off than the "superstars" who make $50K one day and drop $45K the next and end up making minimum wage after commissions. Consistency is what constitutes a real superstar in today's market.

I'm sorry to report that Lundy was spotted as roadkill when the Dow cracked 8000 on Friday. R.I.P. buddy!

You should be happy to be net positive in this environment. Anything on top of that is gravy.

I was looking to make a bundle on ERTS at the close and instead lost my shirt. Any ideas on why the stock didn't fly because of the S&P rebalancing?

Although I doubt that 70% are profitable in this tough market, it's refreshing to see you admit that 50% of newbies fail. Other firms usually mislead people by saying the failure rate is much lower. While I may personally disagree with your business model, it appears that you are honest and...

I try to get in a rhythm for the particular stock I'm scalping, but sometimes I get out of sync. It's better to develop some hard and fast rules that don't rely on you getting in a "rhythm." Elliot Wave Theory is also based on "rhythms" but it can't be reliably applied to trading. Trading...

Are you sure you're not paying commissions on a per share basis? If you trade 100 shares, is that a $17.50 charge? That's insane!!! I think you mean 1.7 cents per share which is a little high but fair if it includes SEC taxes, ECNs, etc.

Don't chase stocks. Catching the right stock at exactly the right time has alot of luck involved. Like Don says, it's better to focus on a few stocks that have good moves and learn to trade them. Don't spread yourself too thin trying to find all the stocks with good moves.

I sure wouldn't turn down Anna Nicole. She's larger than life and I prefer more cushion for the pushin'! :D

My firm does this and they aren't broke. The secret is starting out small and growing from there. Many firms did follow the business model I proposed but they started in 1996-1998. They invested millions in fancy office space and equipment and threw lavish parties. Subsequently, they went...

I think the profit for each winning trade should be assessed independently, according to technicals and Level 2 (for Nasdaq). If long, sell into rallies when you sense some weakness and re-establish the long if it is a continuation. If you trade with some size, try to trade around a core...

I would value quality of traders over volume of traders and branch offices. I would only hire experienced traders and teams with proven track records and provide them with firm capital and low commissions for a larger percentage of profits. In return, they would have access to the best...

Ouch! Can Don fire you from your Moderator job for saying that?

Tell that to Mark Barton. You must be referring to the business of owning a daytrading firm, certainly NOT the business of trading.

I fail to see how this is not a "win-loss" situation MOSTLY for novice traders. Trading veterans aside, the cards are stacked very high against newbies because of extraneous "tuition" costs. Care to share your newbie failure rate after 12 months? Betcha it's over 50%. I am not a...

That's why a measure of whether the firm is really interested in the trader's success is the percentage payout. Hedge funds and proprietary groups are mostly interested in training you and receiving a percentage of profits. Churn and burn firms could care less, hence the 100% payout.

Exactly true. Any firms that derive 99+% of their revenues from desk fees, commissions, training seminars AND require a deposit to apply against trading losses is pretty much out to screw you.

Actually...hope you were long after 2:45!!! Bulls, GREEN LIGHT!