First off, thanks to all who been helpful here. Hopefully I will be able to return the favour at some point. Regarding this: I believe that they go by the name Talent Trading. I was going to post their site but this being my first post I suppose that might be a bad idea. Anyone have any experience with them? Is it customary to have a different name like they do? Are they all speaking Chinese all the time? (That might be good for me, since I tend to do the interior dialogue thing and I don't like to be distracted) And some other (probably annoying) questions: What are hot keys and why are they so troubling? What's this business about ECN rebates or whatever? I was told that if you add to liquidity you make a little and when you subtract from it you pay a little. Or something. This should get some lols/wtfs: I am very attached to my thinkorswim and stockcharts indicators. Can I bring in my notebook and have my accounts open? Can I surf the web on the company monitors? Is Sterling going to blow my mind? Thanks! ...so many helpful peeps around here... nice to see.
Hi, everyone- my first post so maby a word of introduction- I trade on NYSE, Im based in Poland... Im new here and new in the buissness, hope I wont make an ass of myself ...but on to the merritt... discogen: I never had any experience with Tittle Trading so I cant help You on that, but about the rest... -Hot keys are used when operating the trading software to place orders- makes it faster than clicking around with Your mouse I guess... the problems for a n00b like me where usualy based on hitting the the Short key when I wnated to go Long (or vice versa)- when there is no price spread You can end up with a position the other way You intended- but its easy to get out of in that situation... But it can be preety dangerous when there is a big spread and You have a stop loss that locks You out automaticaly- like some prop traders have, I saw my friend lose 1k$ this way- he wanted to place a Buy order for 2000 shares in pre market trading on the bottom of a 50 cent spread, he hit the Short hot key and instantainously someone took his offer... stupid mistake, lots of explaining to the risk manager, and money lost... Another common mistake made by n00bz is for example hitting the RDOX hotkey and trying to take liquidity from ARCA -About the ECN rebates- Your prop company aditionaly chrges You extra per share... i guess - You also ask if its possible to bring Your own notebook, and use Your own soft... It shouldnt be a problem in any office of any firm (I may be wrong, as said earlier- no experience with Tittle) ... THISSS ISSSS not! SPAAAAARTAAAAAAHHH- its a trading room so I dont think that they have strict daconian rules and a dress code... In my office at least everyone is very laid back and traders can do whatever. BUT!!! If I understand correctly (my english isnt very good) the second part of Your question regarded having Your own accounts open (meaning Your own retail account)- and that is moast likeley NOT possible. If Youre working for a prop firm like Title (witch doesnt eaven require You to place a risk deposit) I dont think You can eaven have another account because You could use the BP from the Tittle account to benefit private equity positions. - Finally, is Sterling going to blow Your mind? OH YES IT WILL... especialy when Youll have Your entire BP in the market at 9:45 EST and it hangs up for half an hour... or when the charts will start living a life of their own... or when a minute before the market opens and You have a basket of 200 orders up on RDOX the NYB window goes blank... hehe but seriously- I have no experience on other trading software so Im bias... I heard other platforms have eaven more dramatic "moments". thats about all I can tell You, if I said something stupid and detached from reality- other people will correct me. Hope my english isnt too bad, if it is.... to mnie to jebie
Thanks so much Siema! I really appreciate the info. I actually found a manual online for Sterling Pro and have checked it out. It looks pretty shitty compared to thinkorswim active trader. I can't believe prop firms use a platform without auto OCO order entry. Actually, I'm not even certain from the manual whether Sterling allows OCOs on a single position. I hope this is a stupid question, but if I can't have both a stop loss order and a profit target order on a single position and the platform hangs for a few minutes, does that mean I could be stuck trying to exit a position without having any stop at all? I sure hope not. I can't believe people try to scalp with it. Madness. Anyway, I start next week and I was told that I could have my tos account open, so hopefully they don't change their minds. It's not like I intend to trade in it ... That would be pointless given my BP and commissions. btw, I'm sure you know your English is quite nice. I also work as an ESL teacher and your post gets an A any day
About Sterling... I also read (well browsed through) the manual, and it wasnt detailed enough imo... In my trading style we usualy dont need automated stop, and target orders (we dont scalp and we trade on low volume), so I didnt look into that. You should contact sterling directly- they are very helpfull- we had some questions for them a few months back, and they where happy to answer. Im pretty shure that there is a way to get the platform automated- it wouldnt be so popular otherwise. Send them a question... http://www.sterlingtechnologiesinc.com/ Youre an ESL teacher?? I used to live in the States as a kid and ESL at school was a gulag for me I prefered learning my english from videogames and cartoon network... Cheers..