tzheng,
We allow the type of trading you describe.
Regarding licensing, depending on the state you are in (geographical, not mental :D ) you may only need the series 7.
Regarding bandwidth, depending on the type of trading you plan on doing, our application is very bandwidth light...
When I read "Market Wizards" I remember reading about one trader who would go in to work every single day of the year, but the opportunity for his setup only occurred 1-3 times a year. When it did, he made six figures on it. Think how bad he'd feel if he decided to take a day off and that was...
I think too many people are trading during the week. The "presenters" are included in this, and as they are successful in the market, why would they want to miss out on another day in it?:D
Yes, seriously. If you think that's bad, look at my last name in my signature... hell, you'll probably fall out of your chair when you see that!!!:D
Don't know why you think we don't cover that point cause I do. To be honest with you Alfonso, I personally have NEVER known a trader without...
I think the speed of change of the VWAP is in direct proportion to the time of day. In the morning, yes very fast changes. In the afternoon, it's got to get some real size at prices to overcome all the stock that was printed early in the day.
In working with hundreds of prop traders, probably the biggest difference I've noticed between retail and prop trading styles is the use of capital.
Many times retail traders will have a losing position on a $50 stock with a value of say $40K while having $20K in their account. And maybe...
It becomes a regular limit order automatically.
Yes, as long as the bid/ask is NX'able (more than 100 shares, no better price on another market, 5 cent rule, etc.)
It becomes a regular limit order.
Cash
Yeah, I was frantically checking my program parameters to make sure I hadn't entered something in wrong! Like 80% on the short side.
But I kept seeing green, so I stuck with it and it was nice!
How 'bout Janeway?
I think she'd be a lousy trader, but a worse manager... she'd take over your losing trades for you so YOU wouldn't get hurt... even if it took down the whole firm.