are my commisions any good??
- Thread starter jmi0493
- Start date
Basically I would say, if you have made enough money to back yourself and keep 100%, do that. Otherwise, keep trading there until you do. It is much harder these days to get backed, so if you are backed and you don't have enough dough to do it on your own, don't leave. If you have enough money to leave, Echotrade is over at the CBOE building. Van Buren is closer to the merc, they are on Jackson just before you get to the CBOT building.
The office you're in looks really cool with the flat panels, but the biggest drawback there from what I saw is the software, what do you think of it?
The office you're in looks really cool with the flat panels, but the biggest drawback there from what I saw is the software, what do you think of it?
We just switched from Bulldog to Hammer, which has direct lines to isld,inca,brut and redi. I think Hammer is great, completly customizable and fast. We each get 4-5 flat screens and choice of either Realtick or Bridge charting package, and the squwak. I just broke even in my account last month from starting in May, and started trading 500 shares. The guys who trained me, pure scalpers, were making 5-10,000g a day, and now making 0. I really dont know if daytrading is the way to go anymore, I mean if a majority were still making money then I would say I'm doing something wrong, but everyone here is just getting killed, is it the markets or the way we trade? Are the good old days over?
There is a time for all things, but I didn't know it. And that is precisely what beats so many men on Wall Street who are very far from being in the main sucker class. There is the plain fool, who does the wrong thing at all times everywhere, but there is the Wall Street fool, who thinks he must trade all the time. No man can always have adequate reasons for buying and selling stocks daily - or sufficient knowledge to make his play an intelligent play.
Jesse Livermore
Jesse Livermore
jmi0493,
Just a note. Daytrading is far from over.
Momentum daytrading does not work in this
environment. The .01 spread and choppy markets
made it almost impossible for "scaplers". I
would suggest you take the summer off and preserve
capital. Believe it or not , some of our top traders
are still making a living , but not what they
used to make. The markets are constantly evolving
and changing , you have to adjust your trading
with the changing market conditions. Good
luck.
Gene Weissman
Lieber & Weissman Sec., L.L.C.
gweissman@stocktrade.net
See us at http://www.stocktrade.net
I agree with cdntrader and Gene,
Daytrading is still the way to go, but you have to know when to sit on your hands. This is the summer to take a vacation, try to preserve capital. Don't think you always have to be clicking away.
If you can survive this market, which will come back, you can survive anything. Don't forget that even in the last few years when the market was great to all of us, July and August were still the smallest months for a lot of guys.
I have made a lot of cash in the market, and I think there will be more good times ahead for all of us.
Daytrading is still the way to go, but you have to know when to sit on your hands. This is the summer to take a vacation, try to preserve capital. Don't think you always have to be clicking away.
If you can survive this market, which will come back, you can survive anything. Don't forget that even in the last few years when the market was great to all of us, July and August were still the smallest months for a lot of guys.
I have made a lot of cash in the market, and I think there will be more good times ahead for all of us.
Gene,
What basic strategies are your better traders using?
It's wastefull of taking a summer off unless you are still in "college mentality" which is what killing most of you anyway. Time to grow up !!! Gene won't tell you to trade
futures because he has a "vested interest" you stay in his
"vice" much like the pimp won't stear the "john" into the
poker hall.
futures because he has a "vested interest" you stay in his
"vice" much like the pimp won't stear the "john" into the
poker hall.
