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Strategies & Market Trends : DAYTRADING Fundamentals -- Ignore unavailable to you. Want to Upgrade?

To: TFF who wrote (8310)	5/6/2000 10:25:00 AM
From: LPS5	Respond to of 18137

That's true, and why I continually express that, in my opinion, the optimal deal would be to trade first at/for a firm (typically as a registered individual on a proprietary or market making basis) where they supply risk capital and take a direct interest in your P/L, while commissions are more for bookkeeping (clearing and trading costs) than the source of the firms' revenue. Additionally, where you are always surrounded by highly experienced, successful traders. Then, once one had some experience, perhaps to hunt for a customer-geared place on the bases of commission costs and functionality. I will admit it's easy for me to suggest this because I live in NYC and there are more here than everywhere else put together; also, that for folk who live nearly anywhere else, when there is one (not often) it's typically limited in space and capital. LPS5

To: TFF who wrote (8310)	5/6/2000 10:48:00 AM
From: Dave O.	Read Replies (3) \| Respond to of 18137

< this is the mentality the daytrading firms enforce to get people to scalp 500 times a day. > Don't you think a lot of the daytrading places are moving away from that focus (scalping all day)? I mean if you look at some of the packages being rolled out it's no longer mandatory to trade "x" times per month to get the software cost rebated. Watley introduced their free version, Trade Portal came out with something similar and now All Tech has a comparable offering and I imagine there are others. I think with the proliferation of technically competent people out there that these firms realize there are plenty of customers to go around and they can still make money. And I suspect that a lot of people are figuring out that scalping isn't the only way to make money, rather, it's probably the toughest way. Dave