This is a joke, right??? Run, get out of there and don't look back. You are better off just reading "Reminiscences of a Stock Operator" (A Marketplace Book) (Paperback) by Edwin Lefèvre.
no, it's true, and it's happening, some of the guys do just that and they have been there 2 years, etc...and are making income, but yes, these guys are very few and far in between with the things that we are given-training, etc... which is practically close to none. I learned here, on threads by maverick and steve, and by threads like these, and putting my due dilligence.
You are just a baby in this game, I myself am just a toddler. You need to give yourself at least 1 full year of all you got before worrying about whether or not you are going to make it. 3 months is not enough time to determine this. Keep plugging away and learn something everyday. You keep compounding your knowledge and you'll start to see stuff you never did before.
LOL so just relax and don't worry about what your group is teaching you because it's a bit apparent you are in a churn & burn shop. Take the month to trade very lightly and try out new strategies, open your mind and you might catch onto something completely by yourself. The only one who will teach you is the market. As for the hybrid, it's simple. If you can trade NYSE but have problems trading Nasdaq, get ready to learn everything from step one again. The shaking of the tree is coming and my guess is that most of the NYSE traders will be squeezed out.
if one can trade new york, what's the main difference of trading nasdaq...no specialist, but what makes it so different that it will create what it seems a new era
Are there any rules in the new hybrid system which will affect how the specialists handle the opening of NYSE stocks? Thanks.
The main difference right now is the commision structure with the ecn rebates, removing liq is quite expensive. Also the inmediate excecution makes things different as you may see huge sizes get picked up in a blink, in such symbols as qqqq, csco, or orcl; is very hard to bluff, and usually not a good idea, as the market will move regardless of size, and you usually dont have time to cancel when the price gets lifted. Even if you had several orders in different ecns at different times, is quite easy to get a simultaneous fill on all of them... that´s usually not a good sign... Not to mention stuff like JDSU, SIRI or SUNW, where the volume and liquidity are just ridicoulously high...
if u are after catchin' big moves [afterall u said u wanna be a position intraday trader] there's virtually no difference, other than ny [gaps] tend to trend better, usually 'till the close.