What will be the end result of the elimation of bullets be on pro firms/traders?

gimp570 · Nov 25, 2003

Quote from EricP:

That's exactly what I'm thinking/hoping. Probably just a coincidence, but it seems that the number of quality trading opportunities has increased substantially for me in the past 8 weeks or so. I hope it continues.

Fewer traders = More opportunities per trader

-Eric

Fewer traders=less dumb money=less volatility=less opportunities

ElectricSavant · Nov 25, 2003

Quote from gimp570:

Fewer traders=less dumb money=less volatility=less opportunities

dumb money does not equal bullet traders.

Michael B.

gimp570 · Nov 25, 2003

Quote from ElectricSavant:

dumb money does not equal bullet traders.

Michael B.

indeed, but no bullet traders might equal less volatility

rttrader1 · Nov 25, 2003

Quote from gimp570:

Fewer traders=less dumb money=less volatility=less opportunities

a much more realistic outcome...good call gimp..

rttrader1 -

trader556 · Nov 25, 2003

Quote from gimp570:

Fewer traders=less dumb money=less volatility=less opportunities

Agreed, possibly not as drastic as we might think but the effects will be there. If you recall the post PDT rule times, less number of smaller lots, much less smaller traders. Again, the change was not drastic but it was noticeable. At the end...every bit counts.

Cheers

limitdown · Nov 25, 2003

Quote from EricP:

Don,

I spoke to the reps at one of the two firms you mentioned, and they told me that their firms volume dropped 50% overnight when bullets disappeared. They might not have wanted to seem "overly concerned", but my take on it was that it had a dramatic and painful effect on them.

I don't trade prop, but just wanted to add this information for what it's worth.

-Eric

Eric,

outstanding comment, thanks for bringing it to the table.

your comment has tremendous penchant and credibility because you stated that you do not trade prop (proprietary licensed basis).

this was a serious blow, and taking a blow and coming from hitting the turf at the 5 yard line by saying the often quoted phrase "I'm OK", just doesn't seem credible.

seems like the SEC fired a shot across the bow of all these skips, skippers, frigates and PT Boats.

Hey guys, Uncle Sam is Back....

burnin · Nov 25, 2003

the guys who had macros built to drop bullets and simultaneously spray shorts all over news plays are feeling this more than anyone. They also happen to be some of the bigger volume guys out there

limitdown · Nov 25, 2003

Quote from spyderman:

If traders are going to leave the business over a loophole in the rules.....they probably shouldn't be in the business in the first place. Wouldn't it be easier to just learn how to trade?

a lot of traders were able through fools' luck, to succeed and through circumstances not talent or understanding of what they were doing.

perhaps a lot of these types will be leaving....

limitdown · Nov 25, 2003

Quote from burnin:

the guys who had macros built to drop bullets and simultaneously spray shorts all over news plays are feeling this more than anyone. They also happen to be some of the bigger volume guys out there

are you talking about the HAMMER Time Guys?

shneed · Nov 25, 2003

I was told today by a Generic trader that they started using a new version of bullets as of last Monday, they cost twice as much as the old ones. Can anyone trading at Generic please confirm this, or was it just a boast?

Thanks,
shneed