In the Meantime.

Loki131 · May 31, 2005

Thanks for the responses ...I do believe I'll look into Don Bright and see whats going on there....once again thanks.

ElectricSavant · May 31, 2005

You forgot to tell him what color pen to use?

Quote from nitro:

Probably the single most important thing for a beginning trader to do is to sit down with a blank sheet of paper and to define, in very concise language, what s/he thinks "trading" means. After that, as you learn, go back and make your definitions either more exact or break them up into different categories. If you see yourself doing that, you are learning to "trade."

IMO all trading should be learnt by going to an exchange and seeing how and why locals set themselves up for business there and what the food chain is. Once you understand all the different ways that these exchange players make money, whether they be order flow traders, or pit/screen arb traders, MMs, etc, you can see what you are up against as a screen trader and where _you_ sit on the food chain.

The problem is that most of these jobs are gotten not by applying to them but by knowing someone on the floor. If getting a floor job is not an option, then the next best option or equally good option is to go to a firm like Bright or Echo that trade certain strategies and to see if you can pick that up.

If that does not work or is not an option, you still have opportunities to learn, but most of them will test your patience. ET can be a good source if instead of asking lots of questions you think are relevant, you instead read some of the classic threads on ET. I would start by reading all the Don Bright threads on the Opening Only strategy and then work your way out from there.

After you have some idea of these things, you are probably ready to start trading (or speculating or investing - are those different? what makes them different?) and asking some intelligent questions if/when things don't go well for you.

nitro
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In the Meantime.

Loki131

ElectricSavant