The "heavy hitters" at WLDCO use all kinds of style. Worldco, unlike many firms, does not use or push any particular style (although some head traders/group leaders do). Good money is made so many different ways, often even within the same group. Even when 2 people learn a similar system, they adapt it to a style that fits each of them well, often resulting in very different styles of said learned system. Other people develop their own systems completely through years of experience (daytradernyc did this), and others synthesize several different systems and play with them until they have come up with a system they are comfortable with. At Worldco, there are successful scalpers, technical traders, traders who are in over a dozen positions at once and traders who watch only a few stocks, traders who give stocks a lot of room and traders that give little, traders who will double down and those who won't, traders who bottom/top pick and those that would never do such a thing, traders who like the thickest and most volatile stocks and traders who like less volatile stocks, traders who love the open and traders that will rarely consider trading till 10am at the earliest, traders who use filters and traders who do their own research, traders that trade arbitrage and those who don't ever touch arbitrage, etc etc. So many ways of trading, so many successful traders from each method (and a combination of methods). One guy is known for selling stocks and giving them a great deal of room, and never covering until the end of the day. This guy has watched 13 points unrealized turn into almost nothing, but he has also watched small gains turn into big ones by the end of the day. How many people can trade like that? Well, he has tried to train others, and from what I have heard no one else could pick it up. Another trader can watch 50 stocks without charts, time & sales or filters(just the quote lines-bid, ask, size, print), and trade 20 at once with no stops. Yet, this trader is one of the most successful around. The list goes on, but I think you get the point. No more diahrrea (sp?) of the keyboard.
That's really good to hear. There's more than one way to skin a cat as they say. Good trading to all!
Of course, most people, regardless of style, are not making any money these days. Just have to mention that again to keep things in perspective.
what's your definition of "not making any money these days." I think isn't it different for everyone? Maybe some people are used to making it big butnot just doing average and they feel like they are not making any money. And then there are beginners who aren't really making any $ cuz of learning curve.
What I am saying is that many people, whether they are fairly new or not, whether they made hundreds of thousands in the past or not, are making $0. Many others, including those who made hundreds of thousands or millions in the past, are making in the low tens of thousands or less.
wow. that's pretty scary on in the intraday prop trading scene then... kinda like a bear market wasteland... even on the institutional level there are serious shakeouts...
this is what a bear market feels like and stop listening to those stupid analysts who keep on telling you it's time to buy. They have been saying that for the last 2yrs and the results show that their recommendations have resulted in some eye-popping returns of -70%-99% and in some case -100% or over if you margined. haha. Follow your instincts and TA. Until then who knows what happens. It's shitty out there..