SethArb.
I agree with you about the best way is to find a prop firm like the turtles, but the entry requirements could be pretty steep. Heavy math, quant background, sometimes need to be from the right schools. But re: futures as the worst way? I think the jury is still out. If futures leverage is the main cuplrit there are DOW $5 or even $2 It is not that much geared-issue is liquidity at certain times. In addition, you really get to focus on pure aspects of trading-discipline, Tech analysis, money manaagement and not worry about MM, specialists ( a perception shared by another poster on another thread 2 days ago).
The one thing that keeps MM and specialists more honest than they have too is the perception by them that there is a lot of public participation in their markets. Too many eyes watching, lots of paper around- they are simply too busy executing orders on the floor or book. Could you imagine a TYC specialist messing around with his order book in front of all those floor brokers-not good business. But when it is quiet, and few public interest except for us daytraders, they can di_k around their book more.They have more room to do the "shakeouts' Newbies need a liquid, honest market and an environment where if they lose $ in the AM, they will be in an environment where they can come back in the PM. Stocks these days seem to make their material moves 1-2 times a day, without the backing and filling. If you miss that move or worse got on the wrong side you are SOL.
I am not saying that it can't be done in the stock side. All you have to do is read Seanote's post. But don't count out the efutures.
Just my meandering musings
I agree with you about the best way is to find a prop firm like the turtles, but the entry requirements could be pretty steep. Heavy math, quant background, sometimes need to be from the right schools. But re: futures as the worst way? I think the jury is still out. If futures leverage is the main cuplrit there are DOW $5 or even $2 It is not that much geared-issue is liquidity at certain times. In addition, you really get to focus on pure aspects of trading-discipline, Tech analysis, money manaagement and not worry about MM, specialists ( a perception shared by another poster on another thread 2 days ago).
The one thing that keeps MM and specialists more honest than they have too is the perception by them that there is a lot of public participation in their markets. Too many eyes watching, lots of paper around- they are simply too busy executing orders on the floor or book. Could you imagine a TYC specialist messing around with his order book in front of all those floor brokers-not good business. But when it is quiet, and few public interest except for us daytraders, they can di_k around their book more.They have more room to do the "shakeouts' Newbies need a liquid, honest market and an environment where if they lose $ in the AM, they will be in an environment where they can come back in the PM. Stocks these days seem to make their material moves 1-2 times a day, without the backing and filling. If you miss that move or worse got on the wrong side you are SOL.
I am not saying that it can't be done in the stock side. All you have to do is read Seanote's post. But don't count out the efutures.
Just my meandering musings
