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If trading is your passion, you will be obsessed with ideas rattling around your head and will delve into trying to figure out problems and test new ideas. It will consume you. It's what's on your mind when you go to bed and what you think about most waking moments. You just have to keep...

In those situations I generally trade my positions as a portfolio. I have a spreadsheet that calculates volatility based hedges if I am too exposed on one side. I also have custom written software that can work me out of positions incrementally without firing off market orders, which would...

To Tito and ESSTUD: Let me again reiterate that I was in no way involved with running Tuco. No ownership stake, not privy to any info from management. All I did was trade. I was a remote manager in the sense that if someone from ET had questions and pm'd me, I answered them. If they opened...

No, I haven't inspected the company's books. Yes, I am basing my information on what I've heard first hand from Mike Kestler and Doug Frederick. I've known them both for several years, have stayed at their houses and condsider them friends. I have no reason to doubt what I've heard from them...

There was no capital shortfall at Tuco, no missing money. It was stuff like a group taking a payout of their profits at the end of the month and the account used to make the payment showed the debit, but the sec accountants wouldn't recognize the offsetting equity in the trader's sub accounts...

I do quite a bit, especially during the summer. I either sneak in an hour at the pool or on the treadmill around noon, or leave an hour or two before the close for a bike ride. But then, I'm training for an Ironman.

No opinion on the guy's call, but that is an attitude in trading that will eventually catch up with you and get your ass in trouble. No one knows what is going to happen in any market. To operate with the conviction that you know what will happen means that you have ruled out the possibility...

WRONG

I don't go back and review what my fill was as a percentage of the total opening print, but I'm sure many times it's a significant amount. Sometimes my position in a stock might be 5% of the total day's volume, but that's ok because I'm asking for a premium to provide liquidity to the market...

If your strategy has you 2-3 seconds away from ruin if things go bad, you shouldn't be trading... got it. Thanks, great advice.

Was good for me too. Very busy, about 130 fills, pretty equal long and short, green right away, flat fairly quick.

Over 80% of Canada's trade is with the US. If the American economy goes in the toilet, no amount of natural resource demand from China or India will offset the impact. The higher C$ has also decimated the export industry. All these effects are only recently starting to show up in the data and...

I hope so, but I guess that depends how much the gov't decides to "help" & "protect" us.

I have heard that the receiver is releasing 35% of trader's funds immediately and the remainder within 90 days. He hasn't replied to my email, but I've heard this from someone who's spoken with him. Tuco and the people involved have no say in anything and know no more than any of the traders.

Tuco's assertion was similar to what that attorney wrote, and they intended to defend themselves in court and hopefully prove that what they were doing was not a violation of the law. However the way the sec operates is kind of like the mob. They come in to your office, freeze all activity...

Yeah, Sterling has that nifty feature where if there is any kind of disruption in your internet connection, the whole platform shuts down. Even a 1 second hicupp, it just shuts down. If you are running an api application you are hosed in that situation.

But Don, that's what man invented computers for! I mean c'mon, plug a few hundred traders into a spreadsheet, write some simple formulas and whamo, instant rebate calculations. I hear there are even programmers that will automate this kind of stuff. Not calling it sinister, how about "a...

Regulations that prevent independent traders from competing with them doesn't hurt their business either.

I agree 100% Don, it's not just about rates, I was just addressing a rate related question. The main advantage of prop is the leverage, and Bright provides that in abundance, which can be extremely valuable for capital intensive strategies. I refer people to your firm on occasion, but have...

You can't compare apples to oranges. If you are comparing an unbundled rate from Bright you have to compare it to the unbundled rate from IB. That rate happens to be .35 cents per share to start but kicks down to .20 after only 300,000 shares in the month. And that is on every share traded...