Making Money in Nasdaq?

P

Pound

I went to a seminar a couple of years ago and the gentleman that was presenting said something interesting and I couldn't figure out why he said this. He said that, "there are no traders making money in the Nasdaq Market." And that, "if any exist, they are simply lying." He went on to say that, "if you want to make money in the Nasdaq go and become a market maker."

I am not going to mention who said this, out of respect, but I want to prove to this person that there are plenty of traders out there making a GREAT living, not GOOD living, trading Nasdaq Stocks.

I am one of them.

_Pound
 
I know a few traders who do well in Nasdaq stocks. It's a different market than what I do but it can be done quite well

Robert
 
My only income comes from trading. I don't write books, give seminars, or coach other traders. I would never do any of the latter. 'Just doesn't fit my personality.

_Pound
 
I still dont see why (at least it seems to me) the majority of people here prefer trading NYSE intraday -- to me nasdaq is still the center of the action when it comes to online trading. Sure the volatility is a beast, but that's the way it's been for years. NYSE - the idea of trading off the floor over the internet but routing your order through a human specialist still gives me the creeps. I'll take market maker/ECN games anyday.
 
Must be the NYSE giving prop brokerages a big break on trading fees (and hence greater margins) that they all seem to be pushing that market. Is this a plausible explanation?
 
I trade futures exclusively now, my equities accnt. is dormant for the moment. It always felt to me that the motion of listed stks. is generally more sinuous and smoother than the frenetic herky- jerky motion of nas. stks. At the end of the day the 5 min. charts could look similar but in the heat of the battle it seemed easier to get in and out of listed with less damage unless there was unexpected news etc. Also, as documented here by rtharp and Don B. there are several plays that take advantage of the specialists rule book. I think the perception was/is that listed somehow provides more control in terms of loss management for their traders.
Anybody who says that excellent money can't be made in nas. stks. is simply ignorant.
 
one of the most profitable, most consistent traders I know was, a couple of years ago, scalping the NAZ to the tune of about 8k/day, on average.

He says it doesn't work anymore.
 
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