I believe it involves finding stocks that trade high volumes in tight channels and involved you trying to pin the market (100k up bid /offer) and absorbing the pressure, hoping it will turn around and run into your over side of teh market..
Even if you happen to trade it flat, you and the firm makes $$$$ off of passive ECN use..
If you end up losing more than $5000 a day, they send you home for the day.... Obviously if you di this too much you get canned...
A few guys were doing this at a firm in jersey city last fall, I have no idea if the firm is still there.. Is someone really wants to know, PM I can track down my old tradings buddies and find out...
It sounded ok, but I get the impression you trade correctly 10 times, and one rip of the stock and you give back your entire day. on the loss....