Clown-Free Zone... sorry, no clowns allowed Message Board

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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: marginnayan who wrote (141441)	1/3/2002 10:12:58 AM
From: SouthFloridaGuy	Read Replies (1) of 436258

<<If public professional traders were former MMs, why are they are playing the game they know they simply cannot win.>> Not true and I am an authority of it because I used to work in one before I got sick of the lifestyle. There are plenty of shops on Wall St where the 25 year old daytraders are still making size money. They are all registered, Series 7, 55 and have short-term trading down to a science. They receive no salary, but trade firm's capital on leverage with their own capital. They trade midcap NYSE stocks and the good ones focus on a few sectors. They close all their positions at day's end, no overnights. Most of the money comes from "bullets" aka married puts whereby a trader can short the downtick.

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