That is great that they do that with you at Lynx. Hard to find training where someone is that open with you on what they do and teaches one on one. Like you said a lot of new traders really need that structure like you are being given. They start reading too many books and trying to many different things because the do not automatically have success when they first start. The books make it sound easier than it is assuming that what they say is even relevant in the first place.
Lynx Capital Partners
- Thread starter gibrahim
- Start date
That is great that they do that with you at Lynx. Hard to find training where someone is that open with you on what they do and teaches one on one. Like you said a lot of new traders really need that structure like you are being given. They start reading too many books and trying to many different things because the do not automatically have success when they first start. The books make it sound easier than it is assuming that what they say is even relevant in the first place.
Do most traders at Lynx trade NYSE stocks? Is it mostly what Don Bright would call a "tape reading" type of trading, or do they trade what ever is in play equally more or less?
It seems to me like most firms are heavily weighted one way or the other. But the average guy on the street wouldn't know why or which way unless they were able to read here or trade with them for a while.
Bright, for exampleseems to really trade mostly New York stocks so I thought maybe all prop firms gravitated toward that, but then I was looking at Heartlands webpage and they seem to trade mostly Nasdaq stocks infact they seem to push Nasdaq because of their technology.
I mean if I went to a Bright office and asked to sit next to their best nasdaq trader would I get a blank stare from a branch manager? If I went to hearland and started trading the retailers and oil service stocks would they look at me like I was crazy as well?
sorry for the ignorance but I just read some of the now outdated books on trading published over the last few years and they all write about the level II and mostly nasdaq strategies but then I have been reading here a few weeks and it seems like most of the big traders prefer the NYSE market and disregard the Nasdaq market as "fragmented and chaotic".
Is it correct to assume that an NYSE "style" of trading can be taught eaiser than a nasdaq style? What I mean is it seems like certain tape reading type tactics would apply to almost all nyse stocks, but someone that was trading a few Nasdaq stocks would have a tougher time because they often move less predictably in the short run.
For someone just starting out that wants to focus on a particular style rather than particular stocks per say....does anyone have an opinion? I mean it seems NYSE has pretty much stayed the same over the years. Yes they have added NX and open book,etc. but Nasdaq trading seems to be be still evolving every few months with some particular change every few weeks.
Anyone have thoughts. There is a lot to grasp and I am just trying to narrow my focus a bit.
W.M.
It seems to me like most firms are heavily weighted one way or the other. But the average guy on the street wouldn't know why or which way unless they were able to read here or trade with them for a while.
Bright, for exampleseems to really trade mostly New York stocks so I thought maybe all prop firms gravitated toward that, but then I was looking at Heartlands webpage and they seem to trade mostly Nasdaq stocks infact they seem to push Nasdaq because of their technology.
I mean if I went to a Bright office and asked to sit next to their best nasdaq trader would I get a blank stare from a branch manager? If I went to hearland and started trading the retailers and oil service stocks would they look at me like I was crazy as well?
sorry for the ignorance but I just read some of the now outdated books on trading published over the last few years and they all write about the level II and mostly nasdaq strategies but then I have been reading here a few weeks and it seems like most of the big traders prefer the NYSE market and disregard the Nasdaq market as "fragmented and chaotic".
Is it correct to assume that an NYSE "style" of trading can be taught eaiser than a nasdaq style? What I mean is it seems like certain tape reading type tactics would apply to almost all nyse stocks, but someone that was trading a few Nasdaq stocks would have a tougher time because they often move less predictably in the short run.
For someone just starting out that wants to focus on a particular style rather than particular stocks per say....does anyone have an opinion? I mean it seems NYSE has pretty much stayed the same over the years. Yes they have added NX and open book,etc. but Nasdaq trading seems to be be still evolving every few months with some particular change every few weeks.
Anyone have thoughts. There is a lot to grasp and I am just trying to narrow my focus a bit.
W.M.
Can you give me a little info about each of them? Thanks!I signed a non-disclosure agreement not to divulge particular strategies. Maybe that is why they work for the traders.
That is the biggest reason I joined Lynx, the training. It is what sets Lynx apart from the rest of the firms I have been with. I may even pay a little more here, but I make more here than I did anywhere else. I am very happy here.
So will the firms looking for traders on this board stop bothering me?
That is the biggest reason I joined Lynx, the training. It is what sets Lynx apart from the rest of the firms I have been with. I may even pay a little more here, but I make more here than I did anywhere else. I am very happy here.
So will the firms looking for traders on this board stop bothering me?
Originally posted by jeff520
I was hoping that wasn't the case. I'll find a firm that only requires the series 7. Thanks!
You can pass the 7, but not the 55 or 63? Wow, you do not have much ambition....the 63 is about 25 questions and I studied about 1 day for it. The 55 was a bit tougher around 100 questions. I heard they just made it 125 or so. Not as bad as the 7.
You can always trade with the 7, you have a 3 month window for the other exams. I am pretty sure???
Bryan Roberts
Guest
Just curious, how is one's deposit protected in a franchise/sub LLC like this one? Is this what Don Bright was warning everyone about?
It is protected as much as Bright trader, Echo Traders, or any other "pro firm". So basically that means it is not SIPC covered for the most part. So always make sure there is a good risk manager/procedures in place.
Bryan Roberts
Guest
Don Bright
Bright Trading
Registered: Oct 2001
Posts: 2254
05-09-02 04:19 PM
Limit is right.....
This is exactly why I am so against these franchise operations (not that they're all as bad as this one). This gives these firms a way to "bail out" of leases (leaving the sub llc or franchisee to hold the bag), keep traders money, and all the other bad practices that are simply bad for the industry.
It allows the Main firm to maintain an "illusion of propriety" and to stay in business waiting for another gullible franchisee to dive into the mess. Time will sort all these people out.....
Sorry about your bad experiences....
Don
__________________
Don Bright (not an alias)
http://www.stocktrading.com
here is what Don said a few months ago about franchises in general (was not referring to any one particular firm). I think it is too much risk for an individual to take on, especially when there are non-franchises out there that have more to offer.
Bright Trading
Registered: Oct 2001
Posts: 2254
05-09-02 04:19 PM
Limit is right.....
This is exactly why I am so against these franchise operations (not that they're all as bad as this one). This gives these firms a way to "bail out" of leases (leaving the sub llc or franchisee to hold the bag), keep traders money, and all the other bad practices that are simply bad for the industry.
It allows the Main firm to maintain an "illusion of propriety" and to stay in business waiting for another gullible franchisee to dive into the mess. Time will sort all these people out.....
Sorry about your bad experiences....
Don
__________________
Don Bright (not an alias)
http://www.stocktrading.com
here is what Don said a few months ago about franchises in general (was not referring to any one particular firm). I think it is too much risk for an individual to take on, especially when there are non-franchises out there that have more to offer.