Bright, what is the catch?

Thanks for kind words. The article is on DaytradersUSA's site. I didn't realize daytradingstocks.com had a link to it

http://daytradersusa.com/tharp.html

Robert

 

Bright, This may sound like an aggressive endevour, but this is something that I thought of.

How about an organization of professional firms? This could serve to get the work out on topics that people are interested in, yet at the same time address concerns that all professional firms share (like the start of this topic). It could be like a BBB of professional firms (I know that you are already trying to hold firms to a good standard). Could offer discounts on computers, books, etc... for members (larger volume from the many firms involved members - especially good for remote traders). A bigger voice in exchange hearings on professional matters.

This is just an idea.

 

I think that this is a great idea, and yet I am concerned about the organizational aspect of it. We are going to be meeting with the heads of several firms over the next few weeks, and hope that we can at least come to some terms informally about the direction of the industry. Several of us chat from time to time, and yet there are always new people coming on board that may not know everyone...so your idea has merit.

Let's see what we can do!!

 

can someone explain the stradgey details on useing open only orders on listed stocks.tia

 

We place buy and sell orders on a couple dozen stocks every morning based on a fair value calculation. We get filled on a few (same side as the Specialist), and then close the positions. That's what we do, every day.

 

Read this thread: http://www.elitetrader.com/vb/showthread.php?s=&threadid=3334

 

thanks don.sorry still dont see how you profit from it.when the specialist opens the stock doesnt everyone get the same price?or are you buying premarket at what you precieve as a discount based on your fair value calculation then selling to the specialist?tia

 

If a stock should open up 1 dollar (say $51, and yet it opens up $3 at 53, the specialist sold stock to excess buyers, and you did as well. Then the stock normally comes back down and you cover your short sale and made money.

 

thanks dustin for link.will study it.

 

This is probably a stupid question.

I read all the threads in this forum and, from what I understand, there are firms that will train you to trade, give you money to trade, give you the software and links needed to trade, plus you keep a percentage of the profits from each trade and get to do the trading from the comfort of your own home. All this in exchange for passing a test, putting up as little as $10K (which still remains yours to trade), and paying $200 to $400/mo.

What's the catch?