Hi Steve... The hybrid has turned out to be beneficial in several ways after all. The sweeps allow for outside enveloping and quick profits much more often than I had expected. While showing a .10 bid, I had a .01 bid below, and was filled in a sweep, and immediately hid the .10 bid (this happens more often than you might think), even though I'm not normally a "scalper" - I figure "what the heck" another good entry/exit. And, we now get paid for providing liquidity on listed stocks. This has never happened before - just extra money. We have all adapted pretty well, and will continue to do so. So, the hybrid is nothing to be overly concerned about, just be sure you know what you're doing. As far as NYSE strategies that work...the opening only play is obviously still very viable - probably about 25% of the the Bright Traders money is made on the openings - it takes the use of a couple of $million to make $500-$1000 or so in the first half hour or so, and some level of skill (and, hopefully a good automated program). Pairs trading and mergers have actually been helped by the hybrid, again because of the sweeps and knowing where the LRP's are set. This strategy, again, probably accounts for another 25-40% of the money being made by our people. This pairs strategy takes a longer term approach, multiple pairs, and a lot of homework, but is very lucrative for those who take the time to learn. And (to the poster) - good luck...I'm not a fan of any firm that will let someone start with only $5,000 - that little $$ makes success so very, very hard, nearly impossible, IMO. We all need some learning curve room, and working strategies have swings in them...but nonetheless, good luck. BTW, don't rely on "scalping"- especially without an automated scalper program that will envelope for you. As far as the contract goes, be sure you can get money out on a weekly basis, that you in fact "limited" in your liability to the amount of cash put up, and be sure they don't hold your money for any period of time. Be sure that the firm is an exchange member and a broker dealer, avoid the 'sub-llc' nightmare. Don
Look kid, I'm gonna try to help you, even though you probably won't listen. Do not waste your time with this fake prop firm, do not waste your time with NYSE daytrading. That game has been played out so bad that even Grandma says "Damn, that's an old record". It's almost scary how right I was in my predictions about where the NYSE daytrading game was headed. Actually, I was surprised to hear how some of the old groups & firms I used to deal with are doing now. And it's not over once Reg NMS completely takes full hold. I know it might seem like you are special cause of the "senior" traders and the whole euphoria thing but the truth is that you are just another number of many in what is most likely a chop shop. They all have "senior" traders who seem to make all this money. But the real picture is not what you want to believe. Truth is, no real proprietary firm would ever accept your money, they dont want it nor do they need it. When you are putting money down, you are just another customer, a source of commissions, a body to churn until there is no money left. If you are serious about trading, then start doing some real research and look to get involved in new & innovative markets, not old played out oversaturated ones. At least consider futures & derivatives, which would involve REAL prop firms. That does pretty much require a move to Chicago, but hey, if you're young & ambitious and are not a total Manhattanite, that should not be an obstacle.