Trader P/L 2006 Questions and Discussion

Quote from wabrew:

RM or Steve T - without giving away your edge can you answer the following?

Do you start the day with orders entered b4 the opening?
Do you have a long or short bias at start of day?
If so, do you usually trade from the long or short side most of the day, or do you trade both sides?
What is the normal number of times you r/t any one stock?
Do you think you can push a stock?
If so, do you push as part of your daily strategy?

Thanks in advance if you can answer.

Wayne
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I'll take half, and Steve is more than welcome to the other half...

<i>Do you have a long or short bias at start of day?</i>

--->Sometimes.

<i>Do you think you can push a stock? If so, do you push as part of your daily strategy?</i>

---> I significantly influence the price movement of major stocks all the time. This is <b>not a positive!</b> I get in my own way.
If I want to dump a large position all at once, I can't just slip out of the whole thing at the quoted bid or offer.

The fact that I can make the stocks move is an obstacle to overcome, not an advantage to exploit. (Keep in mind that 'painting the tape' is also illegal.)
 
RM and others,

I'm new to equities, and have wondered about this "painting the tape" comment.

On the futures floor, at times the locals would sell one-lots to each other several times in succession to get prints up on the board. To someone on a screen somewhere, it looks like the price is moving, so they send in paper. Of course, this is what the locals are hopng for, and as soon as the paper comes in, the locals take the other side, and the price returns to its previous level.

Is this the eqivalent to "painting the tape" in equities?

Thanks!
 
Thanks for the replies.

Now, you've got me thinking that I may to need to find a new home. I average 20K-25K shares a day. I've only been prop trading since March and the most I've done is just under 500K shares/month, but my vol is increasing. I pay .007 plus fees with no liquidity (don't get charged, don't receive rebates). I'm in the process of checking out Echo, but would like to hear any comments you may have. Thanks again.
 
Quote from gutsytrader:

I'll start posting my meager ES P/L tomorrow. Is there any free software for screen capture?
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If you're on Win XP, you already have it.

Hit 'print screen' key

Open MS Paint and paste in there.

Edit out (=paint over) anything you don't want in the public domain (account number, name, etc...)

Save as PNG file

You're done.
 
Quote from Rearden Metal:

If you're on Win XP, you already have it.

Hit 'print screen' key

Open MS Paint and paste in there.

Edit out (=paint over) anything you don't want in the public domain (account number, name, etc...)

Save as PNG file

You're done.
More...

Thanks for the help. Unfortunately I have Win 98 on a older computer. Any other suggestions other than get a new computer?
 
RM,

Thanks for the reply - it would seem these things go on in many markets, legal or not.

My only experience so far, has been with the futures, but I've seen this "trick" in a lot of pits, especially in the thinner markets.
 
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