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What other illegal acts do these prop shops do?

On trending days, stock prices generally follow the overall market or sector sentiment; therefore, this is predictable and not a random occurence. On choppy days, stock movements can be seen as random. Stocks with very bad news will tend to go down and vice versa; again, this is not random...

If you're a newbie, wear a nice conservative suit. If you're experienced and successful, wear whatever the heck you want!

I trade for a small equity hedge fund ($30MM in assets) in NYC. We trade both NYSE and Nasdaq. About 10 of the 25 traders are beginners and the rest have at least one year of experience. We are not encouraged to write many tickets so we average from 5K-75K shares a day.

At my company, there are 25 traders. The top 10% earned between 3K and 9K last month (after commissions and before taxes). 50% were net negative and 40% made between $200 and 3K in July.

99 said: "To put it simply NO! MM do NOT conduct any kind of TA. I mean I'm sure some of them have some kind of TA on their screens and stuff. But for the most part they just trade off of order flow. If a large institutional client has a 200,000 shares buy order , I'm sure it doesn't take a...

Seanote, did you hold that short even when it went over $39? You've got balls of steel!

Doesn't he manage the books? I would think he could cut himself a check. Also, does he receive a management fee?

What makes you think I don't trade? I've been trading for 3 years! I'm just saying that if someone goes into trading nowadays because he wants to make a few million bucks, he's got another thing comin'! Thank god my trading position also pays a salary!:D

Ahh...the naivete of the inexperienced. I was bright-eyed and had visions of mansions and Porsches and Easy Street when I started trading. Then I learned the truth and hopefully you will too! The glory days of daytrading died in 2001...

Someone in their early twenties might want to leverage their trading experience to get a salaried/commission-based job at a hedge fund or blue chip prop trading desk. Most of these jobs are hard to come by right now and a young person would want to learn technical, fundamental and sector...

Having a long-term directional bias is dangerous in daytrading. Learn to go with the flow of the futures, don't trade against it. When you trade short, is it for very short term? Also, how big are your stops? Stocks like CYMI and KLAC can take off and screw you!

Half a brain, huh? Well, why don't you just do the opening play every day and make $240K a year? It's so easy, imagine if you use a FULL brain!! I'll see your house on MTV's CRIBS!

"However, look at the Brights business plan and you will know they are the real deal. You make money, THEY make money. It's simple. They do NOT want you to fail. They lose a revenue stream if you do fail." Not true. They only make money if you pay desk and training fees and write...

You answered yourself...stay out completely or scalp for quarters!

This quote was rehashed on another thread.

I hate that Newatthis has a monopoly on ET witticisms!

Only enter trades where you're looking for big moves (i.e. 1/2 pt. and more) either short or long. Look at pre-market gap ups/downs and look for uptrending stocks to fade the gap down and vice versa. Look for market stocks to break down or breakout after consolidation periods, depending on...

They've downsized about 60% of their prop traders since 2000. Many of them are struggling, but some are still doing well. No listed stocks, great software platform (probably the best in the business, along with Heartland's). Good company to work for, but low payout because they are structured...

Hmm...doesn't sound too peaceful to me. Even the bible has some harsh words but nothing THAT fanatical. So the Militant Fundamentalists, who brought about the collapse of the Muslim Age of Enlightenment, are just following the Koran to the letter.