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The nyse doesn't accept any orders or cancels after 4:00. If you sent it right before the bell, you would have been canceled.

There's not really much to share. Friday was an anomoly, a gift from the trading gods. You just had to be in line at the right time to get it. I show up every day and execute the same plan in the exact same way. I have good and bad days and weeks, go through the valleys and over the...

Yeah, it was pretty good.

Yeah, everyone I know trading openings had a record day today. Market opening at new highs on an expiration friday along with the jumpy spoos right before the bell was just the right combo I guess. Still, I had way more positions than I would have imagined, 54 shorts on 104 orders. Trading...

I trade some small, ignored, illiquid markets. It's true there are more inefficiencies there, but there are unique risks and limitations. The illiquidity can be used to your advantage, but will also bite you in the ass when things go against you. It also means that your trading isn't very...

What about a trader who wants to be a programmer? I'm trying to learn to code, but alas the only thing I know how to do is trade...

Number one, trade small size. Very small, embarrassingly small, until you are making money consistently. Then take your size up at a very slow rate. You have to adapt to the mental aspect of increased size, and it takes time. Number two, expose yourself to as many different styles as you...

250 shares isn't an odd lot, it's a mixed lot. Odd lots are under 100 shares. You can trade odd lots on nasdaq, or listed stocks if you are using ecn's. If you route odd lots to nyse at a prop shop, you'll likely get in some trouble. It's ok if you are exiting the remnants of a position...

Do you mean 2 to 5 thousand shares traded per day?

Microsoft Excel

If you have never traded prop or have no experience with institutional trading, there are a lot of strategies that you may not be familiar with because they are so far out of the realm of the retail trader. Many intra-day and longer time frame strategies are only possible with huge buying...

Not necessarily true. It totally depends on the strategy. If you can identify a tradeable edge that executes a lot of trades for a small net profit on each one, why would it matter what % is going to commissions? You're still making money. It's the bottom line that counts, not the margins...

It's none of those things. Some strategies are meant to have high capital turnover and to trade very frequently. High frequency trading will result in a large % of profits going to commissions, but that may be by design. Overtrading is trading just for the sake of trading, not when you have...

I run a strategy whereby I manage dozens of positions as a whole portfolio. Hedging, income, stat arb, etc. All nyse listed securities. I went home friday carrying over $2 million in positions in an account that I keep under $100k. The interest that I pay on that leverage is well worth...

You might be interested in this http://www.elitetrader.com/vb/showthread.php?s=&threadid=28497

There are shops that will give you lots of leverage, let you hold as long as you want and trade however you want. They'll usually charge you for that capital usage (haircut, interest), but the rates are reasonable and negotiable. However if you don't want to get your series 7, then you are...

Wow, what a crazy day. Super busy opening, including on helluva wacked trade in TXN. Lots of juice in the portfolio account today too, seemed like I never stopped typing all day. All told, almost a 17k day.

If any of you had a limit buy order in today for txn at 29.55 or higher, get on the horn and call your trade desk. I fought for it and got my limit buy order filled. Just got 5000 shares long, a buck in the money. Christmas in October baby!

Yes that TXN trade was a joke. They changed the opening print to 29.55 and we were short at 30.55, so obviously the specialist or his clerk screwed up and punched in the wrong price. I was short 5000 and in the money by a buck right away, so I was covering furiously, paid up to the 90's to get...

Shit, it took me 8 years. Congrats on making the leap in only 4 days.