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Christie was in because he played good D on Kobe down the stretch. Unfortunately, his offensive prowess left something to be desired. Doesn't matter because the Nets will win it in six!

Page 147 of "Rule the Freakin' Markets": Waxie's Street Smarts: "OTC/BB stocks suck out loud! Just about all OTC/BB stocks are issued by companies with SERIOUS problems. Many are outright frauds or are run by criminals or near-criminals. The Mafia has been known to be involved in OTC/BB...

You don't need trainers. The test is fairly simple, ONLY if you do the following: 1) Get both the official Series 7 training book and the book of 15 actual tests from the NASD. 2) Study the section on options in the training book until you know them well. 3) Do every test TWICE...

Read Jea Yu's Guerilla trading book, the Market Maker's Edge by Lukeman, and even Rule the Freaking Markets is pretty good and entertaining. The last one is geared to newbies but even veterans will pick up useful tidbits. These are all good primer daytrading books. After these books, then...

One more qualification: 3. You are breathing for as long as it takes to sign the Risk Disclosure statement.

DaytraderNYC, are you Walter Bruan? Sure sounds like it...

You're probably paying very low ticket charges. It's probably $6 or $7 all in (per 1000 shares). Then you might get a monthly draw (around $2,000 per month) that you have to pay back from your future profits. That's NOT a salary, but you don't have to pay it back if you quit. The payout %...

It's amazing how some daytrading firms can defy a recessionary climate and weak stock market to grow like gangbusters! While most firms are downsizing, closing up shop, or consolidating, the Echos and Brights keep growing and growing. What the heck is fueling this hypergrowth? Snake oil...

He's probably with a daytrading firm circa 1999-2000. Such bullshit...

I completely agree with DEF. I've been a daytrader at Tradescape/Momentum for three years and this past year I've been scraping by. I'm enrolling at Columbia B-School in the fall because the daytrading industry is dead. Hopefully I can get a job as an institutional equity trader because I...

If you need to make a profit ASAP to make a living, daytrading is definitely not the way to go. You have to expect to lose money for probably a year before you begin making consistent gains. In today's market, consistent gains will probably net you about $2000-3000 a month after expenses which...

It's very tough to get one of those jobs unless you have a connection somewhere. Use your alumni network, friends of friends, relatives, etc. If you had stellar grades and are a serious student of the markets and can show prospective employers that you understand fundamental/technical analysis...

Believe it or not, some prop firms actually pay out a small percentage of gross P&L, even if your net is negative. That's because they feel a little guilty for raping you with high commissions. This makes them feel generous in giving back a little of the profits you made for the firm in...

I have no beef with million dollar producers at Schoni. I know what it was like in 2000 also. For 6 months straight I was netting $30-60K my end (my gross was around $100K-$275K) but my payout percentage sucked. I knew what it felt like loading up on PDLI, YHOO, and CHKP when they were...

You are correct. Swing trading does have its time and place. My point was just that in the past eight or nine months, I've only seen the scalpers make money consistently, not the swing traders. Let's face it, a sideways market is tough on swing traders. I think to be successful in...

I can see why you're not making money in this market. You have too many preconceived notions on how the market is going to move, based on some historical data. You have to look for the intraday plays and make consistent quarters and maybe halves by playing the momentum pullbacks on volatile...

Any firm that was around in 1999 and 2000 that was liberally giving away buying power to its traders has produced it's share of "superstars". Schoni didn't have an exclusive on trading "talent". BTW, the definition of a superstar was someone who went out loaded every night, maxed out his...

By the way, my two negative months were net -$1,200 and net -$2,000. Take that Schoni boys!

I'm a level 2 junkie and I'll bet my net P&L is better than that of most of the "true" traders at Schoni. My buying power is $500K. I've been net positive in 16 of the past 18 months, with my lowest net month being $1,200 and the highest, $11,000. "True" traders can make money in any market...

I don't know if darkhorse is a good trader or not, but his posts are very entertaining and well written! At least he has a backup to fall on if trading doesn't work out... Looking forward to more posts, horseboy! Just a neutral observer...LOL