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RDZig wrote:
>
> Joe,
> A while back a guy I used to work with took a job with Harvey and through him
> I received a copy of the booklet. From what I remember of the booklet it did
> not outline how to successfully daytrade or soes trade, it was more of an
> advertisement for using soes to trade. In my opinion, soes is good if you have
> the technology to find a quick arb, or if you watch a limited # of stocks and
> need to get in and out a few times a day. Remember though, soes is a means of
> getting a fast execution, but without a good idea the advantage of the soes
> execution is meaningless. Like any indicator or any type of technology you
> should explore all of the advantages and disadvantages before plunging.
>
> Good Luck,
> Rich Z
Rich,
I recently trained for a SOES job and it was at their office
in kc. It is very demaning and stressful. We could only trade nasq
stocks and couldn't hold over nite. The success rate is about 10%
with a learning curve of about 20k. I couldn't determine market
direction with so much noise and wasn't about to give up 20k to learn.
It seemed to me after awhile that if I were a market maker wanting
extra volume for my customers I might even subsidize small broker
houses to train customers to day trade to create volume. Because
one of the first things you learn as a soes trader is that you don't
go against the big market makers. You go with them and they fake you
out by buying and then going on the sell side. We only had soes and
instnet. They kept saying that soon we would have dot and island.
But older traders said that rumor had been months old.
Some trader did make money most don't. A few with huge accounts
can make money by trading 100 to 200 trades aday.
Good luck,
Barry
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