I feel like the training that I'm receiving at my prop is all wrong and obsolete. I wish to leave the companies name out for obvious reasons, but their basic strategy is scalping 1 stock on the NYSE, at least for now. I hear from friends that it's impossible now with the hybrid system to scalp a single stock on the NYSE and make money consistently reading the market maker box.
Unless that's just a way to learn how to use their software for the first few days, I would hope a lot more was coming. Some traders do "specialize" in a few stocks, become surrogate specialists, and do well - but they still do many other things (Openings, MOC imbalances, baskets, pairs, mergers, etc.). FWIW, Don
Don; Why has the opening only strategy worked so well for so long when all I hear about is how, once a strategy is discovered by many, it becomes obsolete.
it's a good way to start, but if you want to succeed in this biz you'd better start learning all you can on your own and not rely on anyone for training. it's not impossible to scalp one stock, but with hybrid and the higher fees now you're not going to find that many great opportunities, especially as a newbie... - mnx
Simply because so few traders, overall, can participate in this strategy to a point of entering a couple $million worth of OPG orders each day. And remember, very few people really understand the dynamics of market mechanics well, thus they don't realize "what is out there." Don
Sure, many professionals with BP, but in the overall millions of public participants, not that much impact overall. The institutions and brokerages are the ones who place one-sided orders to cause the gaps, we just try to take advantage of them, as you know. Don