Wallowing in negativity about bullets is deadly for your trading. I have been a reasonably successful prop traded since 1998. When bullets where banned i panicked, declared the end of prop trading and went looking for another line of work. As a result i had my worst month and a half trading in two years. While i was doing this the guys i trained were busy making money. The loss of bullets can be compensated for by the expansion is in moves we are having based on the higher level of stocks. Traders who have been nyse scalpers should be looking to trade comparable volatility nasdaq stocks where you have much better fills and chances of upticks. I do not think prop trading is in worse shape now then it was in jan 2002 things are great but a living can still be made.