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the more specific sector ETF's might have a better chance of continuing the momentum overnight as they would be more resistant to anything negative if you were long and vice versa. can't hurt to test the waters with it though even if you opened one contract to see what happens.

You can trade ETF's until 4:15pm, but the volume drops off and the spreads sometimes even on the SPY can be .05 or more. But, it is a great way to play ES/VIX futures after the market closes.

Not sure if you have taken it already, but I am using SIA...Securities Institute of America. Already had friends pass with it, but it is a beast.

Sorry I've been gone...been fighting off the flu for a few days. V, you said that you wanted about 40 traders with an acct of about $100k for each of them. What types of stocks are you going to be trading with 100k? With a total acct of 4 mil, I'd take half of that myself. Even a few hundred...

Mecro, my previous firm ran them through like cattle not the firm that I am part of now. That is the major difference. I understand that a trader might be more profitable on small amount of shares relative to a trader that trades any type of size. We have guys and girls that tend to position...

ES, I see where you are coming from now:) I feel that the key thing you stated was to just gather some good traders and setup a co-op. This is very similar to our approach. Quality rather than quantity. You don't need to be the biggest prop firm out there. I really stress being consistantly...

ES, how is the firm capitalizing on your hopes and dreams? Firms are not in business to take the money of those that are not profitable. 9x out of 10, the firm will take a hit on those that are not making money. These tend to be the traders who are not covering their costs of doing business. I...

V, I agree that the change in tech can and has changed the brokerage model...to a point. But, if tech has revamped the brokerage model, then it has also done the same from a traders standpoint. Why not just get 3-4 guys in an office running a few black boxes that are pumping out 1mil shares each...

V, I was thinking .001...been a long day:) But, the things I talked about still hold true.

I know I am going to get ripped for this, but here it goes. V, if someone came to me and offered me .01 there is no way I could walk away from that... I would run. I would rather pay more on a per share basis to be with a well capitalized and stable firm rather than go straight for a comm...

Any links to this info? Can't find anything on any gov't sites or nyse.

MOC's (Market On Close) and MOO's (Market On Open) orders, like what we had this moring can best be summed up in six words: sometimes good, sometimes not so good. At 3:40 the specialist will post the imbalance ranging from 20k to 1 mil+. What he the specialist is doing is trying to get people to...

If possible I like to play longer term and build a big position throughout a set time period. But if the market is just messing around and not going anywhere, like today, I'll flip 2000-2500sh lots of CPN and MIR around for .10-.15 a pop. Some days are good for position trading and others are...

the_dude and others, maybe I can help out a little bit. I strictly trade NYSE stocks and have seen actions like what you are describing all day long. Now, on to HRB. The thing about the NYSE is that NO ONE is gonna screw the specialist. Someone had to have put in a large offer for the stock to...

Who said anything about a 7 year contract? There is no time period that you have to stay at all. If you lose money consistantly or trade like an idiot they will cut you...simple as that. The only firm I interviewed with that required a contract had a length of 2 years with it and it was not WLDC.

New Trader, I work for WorldCo in Boca. Yes, the Tampa office has just been opened and I am sure they are hiring new traders there. Any branch will take in new traders, but do realize that worldco has a different payout plan than most other firms that trade Nasdaq. We use a straight payout...

Biomech, I tend agree with stock777's thinking in the fact that your commissions will be HUGE and kill your profits while trying to scalp. Although I do tend to scalp a few stocks sometimes I will usually never purposely enter a trade just to get a few cents out of it. About the only stocks...

Hitman, how many shares do you trade? I have only been there 4 months and I'll pump out 65-75k a day easy by flipping 2-5 thousand share lots on CPN, MIR and TGT all day long. We have guys pushing 250k shares a day, not including MOC's, at the end of the day. I might have misled you with the...

birddog, from my interviews with many firms I found that the amount of capital the firm has and the market that the firm trades will greatly dicate what pergentage the payout is. I trade with a strictly NYSE and AMEX firm and our payout starts at 70% of net profits. Upon a quarterly review, your...

Shorteee, that post has some info on the fees if you are interested. I forgot to post that to you:) Anyway, Dustin, you wanted to know what the pre market looks like on the book. Basicly, it will depend on the stock. On Friday, CC got smoked, so on the book before the open I saw large blocks on...