I was wondering If anyone had any tips for day trading the NYSE? I have been prop trading it for the last 3 months and because I was the first group of trainees a this firm trading the NYSE the firm did not have much of a strategy for us to follow. All of the trainees including myself have had a hard time developing any type of system for the NYSE. So any type of insight would help. Thanks.
I think you should find a firm that knows the NYSE and can help you. There are about 50 threads here on NYSE. Do a search and you'll find plenty of meat.
I second P2 suggestion, get a firm that at least helps you with a proper trading methodology and proper risk management. In my opinion though the "edge" in equities (especially for newer traders) is getting less and less, slippage, specialist's etc...our firm had suggested to me to start with futures and they also mentored me and are still helping me develop a proper trading plan and methodology. Also money management, "bet sizing" are extremely important. For instance do you know you r risk parameters? You should have a risk to reward ratio <before> you take any trade. I know what mine is before I trade. hmmm your description of your firm sounds familiar though. Good luck to you.... J-
Work with the specialist: Some of them reward you for being on the side they have to take. You share their risk, they give you a piece of their pie.
Sorry...can't help you there. The more people left in the dark about how to daytrade NYSE, the more money that goes in my pocket! It's Darwinism at it's cruelest... Kidding aside, I can give you some general help but nothing too specific.