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Just Twitter your friends to make a phone call on your grandma's behalf. :)

Forums ›› Trading for a Living ›› Career Trader http://www.elitetrader.com/vb/forumdisplay.php?s=&forumid=24

Well Smart Money I am very glad that you seem to have come to some sense of reality. Quitting your day job to go trading is a big decision and should not be taken lightly. I have done trading "on the side" while working full time for many, many years. Only until a few years ago I decided it...

Neo: If you can use a second opinion. From my interpretation, saliva only said to Smart Money: IF you think you can do well trading, why don't you quit your job. More in a sarcastic tone. As with many of you, I too think this "quit the job" may be premature.

I like trading AAPL and FAS (an ETF not stock). Spreads are usually a penny. Much better than GS. Very good liquidity. Occassionally RIMM. Spread is also a penny but the movement is more sluggish.

Excuse me? 100 shares for $0.01 a share is $1.00. Is this more than $7 a trade? Did I get my math wrong? Please double check the post before you laugh.

draggleking: From your PnL graph, you seem to have a lot of stocks where you traded 100 shares and with a profit of $1 to $10 (or loss $1 to $10). Are you for real? I don't know what kind of commission rate you are paying. But the commissions can eat you alive (e.g. if you pay $7 a trade...

I think you need to look at a higher time-frame to get the context. Always look at the time-frame of one order of magnitude higher (usually 10x). For example, if you trade on the 1-minute chart, you should look at the 10-minute chart as a backdrop. If you trade the 10-minute chart, you should...

How do you label those who: - Long a option straddle (buy both call and put options on the same stock)? - Do hedging by pair trades (long X and short Y in the same sector)? - Or Buy the inverse ETF (e.g. FAZ, SKF, SDS) A trade is a trade. To me there is no positive or negative about it...

I am sorry I have a totally different opinion on Gary Smith's book: How I Trade For A Living It is one of the worst books on trading that I had read. He mostly wanted to boost his own ego (he talked about his "performance" a lot in his book). In a printed book! He hasn't told how he...

Volatility can be played to your advantage. You can use option straddles to capture the volatile moves either up or down.

Those equipment looks fairly old. He probably uses a different setup today - if he trades at all. CRT monitors? 17 inch (or 15 inch?) 3:4 CRT LCDs?

I think we had beaten this subject to death. Look! Another thread in the same forum on the same page with the EXACTLY the same title! http://www.elitetrader.com/vb/showthread.php?s=&threadid=133304

I don't think making a profit is a requirement for running a business and deducting expenses. Many startup companies lose money in the first few years. Trading is the same. And in trading, sometimes one can have a losing year dispite of many years of profitability. The expense deduction can...

BTW: I don't think that to be a trader (running a trading business) that you need to be in front of a screen for 6+ hours a day anyway. Some can trade 2-3 hours a day and that's it. It's still a business. And since you mentioned that it's automated trading, you don't need to sit in front...

I suggest that you read a few publications from the IRS and a few articles on the Internet about taxes on trading. Here's my take: - Anybody who works full time (taking a salary, W-2) can own one or more businesses at the same time. There is no law that says "because you have a full-time...

Wow. This seems a very selective trading. Especially for a professional "day trader". Pre-holiday, don't trade. Fed announcement, don't trade. Low volume, don't trade. "Random", don't trade. Tight-range, don't trade. No breakout, don't trade. etc. etc. etc. Imagine Pete Sampras...

I think trading is different for different people. There is no "one way" to do it. People trading in exactly the opposite ways both can make good money. e.g. Fundamentalists versus Technicians. Long-term investors versus Day Traders. Discretionary versus mechanical. Surprise, surprise...

You posted in a TRADING forum asking other people what they think about writing their own charting software. I told you what I think. Obviously you don't like the comments given so far. You are looking for those who are mechanics, car designers and drivers all-in-one who can win the race...

I think if you are comtemplating writing your own charting software, you will probably feel more at home in those programmer forums instead of a trader forum. Programming is a very time-consuming undertaking. (Yes I used to be a computer programmer.) I think if you are serious about trading...