anyone ever heard of playing both sides of the trade (long or short) in 100 share lots 100-150 times a day and taking a penny profit it seems more like market making to me the broker gives rebate if trade breaks even firm says they will increase shares if successful in future using same trading method
Remember Tradescape? That's what those "traders" used to do using LSPD. Just trade for a push and get a rebate for adding liquidity.
Thats what Tradescape and Swift Trade Prop guys do but they do it with 2000-5000 share lots. Great strategy to drive yourself insane in the long-run.
"is it a good method for a newbie to learn in this market?" No, it's not good for anyone in any market....except the owners of the firm who get rich off the commissions.
You can't make money scalping SUNW for pennies unless you work for a prop firm that doesn't charge commissions. That last statement is inaccurate. Is it a good method for a newbie to learn in this market? Well, I admit it's probably not ideal, after all you can't trade that style on your own, but the market exposure is invaluable for a newbie. I have been trading this style for a while now, and as a result I've become quite familiar with longer-term intraday and multiday moves in the broader market. I've also been able to paper trade other products and markets with the resources at my disposal. It's definitely been a good learning experience. Besides, when I finished university (1 1/2 years ago), I was in debt and job prospects in the industry were absolutely terrible. I feel that my decision to go prop was easily the best available to me at the time, and things have worked out pretty well.