You need a good honest place witha godd all in rate and no games
E Trade - another prop bites the dust
- Thread starter jsh
- Start date
naa, it's closed.
we've had around 590 traders everyday this year. as of the monday, we've only had 390. they're all retail or subs.
lol, yup, i noticed that too. i guess the people with the multi-million $ accounts with the 6 figure days were all e*trade prop from the bubble/Tradescape days.
the P&L's this week have been anemic. i should be able to make it some of these days.
Like I mentioned, I would not look toward the NYSE floor as a sign for daytrading success. I mean these guys were doing much much better 10-20 years ago, let alone what they used to pull off even farther in the past. Plus, it's quite obvious that at the very best scenario for them, they might be left a tiny role while the Hybrid allows the automated trading take over. Some stocks are already dominated by Open Book orders, be it via program or automated entries set off by a human. Either way, they bypass the specialist order handling.
ECNs & Electronic trading are showing a different venue, there is actually a lot of opportunities by exploiting the ECNs against the specialist. The new challenge seems to be man vs machine as the black boxes do their thing. Guess the simple tick by tick scalping will be done by computers and day traders will have to adjust by sticking to strategies that are outside the computer's comprehension. Tape reading the licensed thief is a good example, once that's gone, it will be more about seeing the bigger picture of the buyer/seller. Problem is that the human cannot compete with the black box volume and will be at a disadvantage when it comes commissions.