The tape does not get "painted" with one lots. Typically much larger lots are traded as a cross to make it look like volume at a price. What purpose would one lots serve? It is illegal in any market but done every day. A beneficial change of ownership is "supposed" to occur!
people still don't understand the secret to day trading. there's no real secret guys like rm and steven have. it's really very very simple. what do one thing all these guys with the supposedly big blotters have in common? trading lots of shares in the 100k - 1 million a day. they're accuaracy rate is actually poorer than the guy trading 10k shares a day making $500 a day. they take tons of shots all day long and keep there loses small and try to let winners run a little. they know no more than 99% of the posters on here were a stock is headed they're just not scared to keep taking the shots. if you jacked there commissions from the .002 to the .007 per share much of there profits go away. IT'S THE MAGIC OF LOW LOW COMMISSIONS COMBINED WITH TAKING 100'S OF SHOTS. it's like fishing you keep bobbing the reel till a fish bites. now on the other side it' mentally taxing trading that kind of vol daily so few do it
RM used, what's called well chosen example, in order to serve his point. That's not the way he operates though.
Huh? Those same profits would just go to the firm instead of me. its not like that $$$ just disappears. I'm not in this business to make my firm rich (although I understand that they need to make $$ too) This is the business model. Stop hating all the time. When you have the ability to trade 100K-1M+ shares a day, you get a lower rate. Do you think its possible for someone with little or no experience to come in and start trading 500K shares/day w/o getting their ass handed to them? Of course not. I dont get the point of this comment. If you jacked my commisions up to .01 and gave me 20% payout, I would have a hard time making a living. Whats your point?
Hmmm...perhaps I'm missing something here. When I went back and looked at RM's last p&l's from 8/08, and 8/07, and Steve's, I didn't see "hundreds of shots," and "tons of shots" - it seemed to be substantially less. "Tons" and "hundreds" would, to me, imply gambling of the random, coin-flip type, and somehow I don't think these guys generate their numbers that way.
"Tons" and "hundreds" would, to me, imply gambling of the random, coin-flip type, and somehow I don't think these guys generate their numbers that way. That's one thing, second their styles differ greatly. if Steve wanted to trade the same size like RM he would have to change style and consequently he would have more losing days. RM cannot trade like Steve and make the same numbers.IMO
"Hating all the time" seems to be a constant in the forums. There are people who, rather than add anything, or make cogent posts, just bash away. Thanks for sharing your valuable time and thought to the forums. Please don't let the occasional "Oh Yeah" post discourage you, and the others.