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sharkbait
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Hello all, Just checking in. I am,as I said VERY new to the game. I have not traded anything yet...ever LOL. I am still in the learning/research phase. I have, and still am,reading through the reference section and past posts. I am getting a lot of questions answered already. I am "practicing" on the VSE marketwatch game,and from what I have gathered so far,I have some reading to do. Advanced apollogies for dumb noob questions that will flow from me like a floded river,but I want to learn,so I have to ask. That is all....for now.

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If your going to swim with the bulls and the bears,you better watch out for the sharks

Posts: 4 | From: Ponte Vedra beach FL | Registered: Oct 2007  |  IP: Logged | Report this post to a Moderator
T e x
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stay w/in this forum... lottsa questions answered

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Nashoba Holba Chepulechi
Adventures in microcapitalism...

Posts: 21062 | From: Fort Worth | Registered: Apr 2005  |  IP: Logged | Report this post to a Moderator
beechwood
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The market is very choppy right now.
Not to discourage but it's not to great for
newbies right now.
You're doing the right thing by watching.
Maybe practice with a paper account.
The MM's (trading floor guys) haven't been
giving away much in penny land this year.
And understandably so.
The dollar is low.
Gold & silver at new highs.
Lackluster economy.
The list goes on.

As such, the MM's are playing things
close to the vest and playing every
card they have to stay on top.
Remember, these guys hafta pay $17,000
PER DAY for the "privelage" of working
on the trading floor.
And that's before they make one cent in profit.
That said, I only have about 7% of my
total portfolio in BB stocks and maybe
1% in pink sheets.
Remember, most pinks are scams so trade
accordingly and do your homework.

all the best

Posts: 669 | From: Gouldsboro, Pa. | Registered: May 2006  |  IP: Logged | Report this post to a Moderator
beechwood
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P.S.:

Never, and I mean NEVER, trade the latest
"hot stock pick" from any site.
These are boiler room pump & dump scams
that lure in suckers at the top of a run
and take your money by shorting the stock
when it falls.
The guys on the floor can short penny stocks
(make $$ when the price falls).
You and I can't!
Remember, the MM's are after YOUR money.
And they have more ways to make it than we do
in pennyland.
If your going to play pennies I suggest
buying shell stocks only.
To lengthy to explain here but they can make
you a fortune if they are bought out (R/M).
Do some research and google shell stocks
for more info.

good luck

Posts: 669 | From: Gouldsboro, Pa. | Registered: May 2006  |  IP: Logged | Report this post to a Moderator
metal1
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where did you get this $17,000 figure?
Posts: 1045 | From: novato,ca,usa | Registered: Aug 2003  |  IP: Logged | Report this post to a Moderator
Machiavelli
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out of his imagination lol

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Let the world change you... And you can change the world.

Ernesto "Che" Guevara de la Serna

Posts: 4669 | Registered: Mar 2004  |  IP: Logged | Report this post to a Moderator
PCola77
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I think he's basing on a $6million price for a seat on the exchange. The number sounds familiar, but I don't know if it's accurate.
Posts: 5508 | From: Southeastern PA | Registered: Jan 2006  |  IP: Logged | Report this post to a Moderator
metal1
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quote:
Originally posted by PCola77:
I think he's basing on a $6million price for a seat on the exchange. The number sounds familiar, but I don't know if it's accurate.

out of his imagination is more like it. the NYSE doesn't have 'seats' anymore. after the merger with ARCA they switched to trading licences which are only about $50,000 per year. of course any joe blow can't just walk in and get one. don't know how much nasdaq fee's are.. 17,000 per day is ridiculous.
Posts: 1045 | From: novato,ca,usa | Registered: Aug 2003  |  IP: Logged | Report this post to a Moderator
T e x
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http://www.nasdaqtrader.com/trader/tradingservices/marketparticipant/marketmaker process.stm

for anyone interested enough to dig around...

Metal, what's the arrangement for someone who gets hired to trade for a market maker firm? Do they get *any* salary...or it all depends on their executions?

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Nashoba Holba Chepulechi
Adventures in microcapitalism...

Posts: 21062 | From: Fort Worth | Registered: Apr 2005  |  IP: Logged | Report this post to a Moderator
metal1
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trading for a firm you generally get a salary (sometimes salary is a draw on profit) plus trading profit bonus.
Posts: 1045 | From: novato,ca,usa | Registered: Aug 2003  |  IP: Logged | Report this post to a Moderator
   

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