Listen to all these people talking all kinds of trash. I highly doubt any of them are doing well. Someone's who's truly doing as well as these losers try to make it sound like they are doing, don't need to brag or make smartass comments. Such a sad bunch. I'm beginning to wonder if there are any real traders on ET at all.
Last month was worst month of the year for me...this month one of the best (after Jan)....im swing trader holding for couple of days-2/3weeks or so. To be honest tho, I dont think it was the market really, but myself that gave me the worst month last month.
LOL it was a protective measure by myself to make sure I did not overtrade the last Friday of the May, you know the one that everyone leaves early to start the Memorial day weekend. It worked out well, I traded very little, made 800 bucks and left by 12pm. It was kinda fun, first time I tried it. Noone in a prop office cares bout that stuff, I heard this one kid there was coming in high everyday and also smoking a blunt during lunch. I won't risk going in this Friday, good luck to whoever does.
My worst month also. Good year all in all. Data feed (Q Charts) is now gone from my life so it has to get better. What a bad feed they have now. I B TWS is all that saved my tail more than once this month. Honor stops and take a little each day. Have a great day. Keith
may has been a tough month for most other traders on my desk. there are actually several guys who are red for the month. for me personally, this month was fairly average but it definitely was not as good as May 2004 as someone else pointed out. i remember May 2004 as being a goldmine so i was definitely looking forward to May rolling around this year but too bad the money isnt falling off trees again. i think the reg SHO stocks also took alot of previously playable stocks out of the game. yes there are a few reg SHO stocks that you can milk but i would say more harm was done than good. and i also agree with whomever stated that trading in 2005 is harder than 2004. the volume is definitely thinner and the S&P futures are always churning sideways. you certaintly cannot afford to make mistakes these days like you could in the past. if you get tagged with one or two big squeezes then you are working to break even the rest of the day whereas in 2004, you could get jacked off the open and still easily end up with a good day.
How are the top traders in your office doing? You're right in your observation though - seems like volume is low and not much follow through. Two of our traders have already stopped coming into the office.
Guys who usually make between 15-30k a month are making less than 5k, some are even negative. I cant speak for swing traders, but daytraders in my office are feeling the pain of this market.