What would you rather have a job or a business opportunity where you could be your own boss, take risk AND reap the full rewards of your labor? I for one have no problem with jobs, but would prefer to be an entrepreneur anyday.
The base salary is just for the first few months until you learn the ropes. Once and if you learn, the contract changes away from salary to the more typical contract of payout. I think they are scalpers (from hr) and i hope that it can still be profitable. I start next month for heartland. Are their any good scalpers on this board? Is scalping still a viable option? jc
scalping otc stocks, which I believe heartland focuses on, has become extremely difficult. With heartland, however,you have the watcher which caters to this.... One problem is that so many of the stocks have gotten pounded and the best scalpers are all fighting it out on only a few stocks left to play...Add in the computerized scalping, the shadow mentioned, as well as the otc traders for the dealers and banks,,and you have a tough environment to make money in. All it takes is 1 or 2 times a day to take hits and your day is done. You will get a bonafide signal to jump in and whack out your bullets........Then out of nowhere, merrill or goldman are waiting for this opportunity to fill their customer order, Then when you cover, they get in for their own account then the spiral down on the day begins. Ive tried in vain to scalp and have failed...Now im going back to the drawing board
Honestly, thanx a lot guys. You Guys are probably right . Scalping will probably kick me in the crotch but i will hopefully suceeed. Good luck and especially good trading. jc
Overtheline is 100% right! I used to scalp and do quite well in 1999/2000 and even 2001. Then, I've been getting smoked! That's because my scalping stocks lack good elasticity and follow-through. Plus, all the other day traders using ECNs for large size are making the moves very chaotic. I've had to learn technical analysis and unlearn scalping to be profitable in this market. Plus, I'm focusing now on listed stocks which have better moves and I don't have to watch Level II ticks all day long and get shaken out.