[wsam29]

Now my brief stink as proprietary day trader in NSADAQ stocks lasted a whole 1 month if I recall.

I did not share the same market trading methology as the manager of the firm but I did have a great learning experiance from it. He wanted his traders to scalp for pennies risking 1:1 and trade all day long. Proprietary trading firms which are part of the ECN network get what are called "credits" if they provide liquidity to any ECN they place their order through.

Example about providing liquidity, trader A bids 35.98 for 1000 shares of ABCD stock, his order gets filled, he gets a credit by XYZ ECN of 0.002 cents per share. Trader B sold 1000 shares @ 35.98 of ABCD stock on XYZ ECN, he pays XYZ ECN 0.003 cents per share. Trader B took liquidity out of the market so therefore needs to pay up.

That was off topic but the manager wanted us to follow the ES for market direction as a reason to enter a long position or even confirmation that our trade will work out. (He could not trade for a net profit day if his life depended on it)

So what I'm trying to get at is everyone is looking at everyone for confirmation in a trade to work out or at least put the probabilities in it working out in our favour.

When Louis Borsellino used to trade mainly from the SP pit, new traders were told to watch what he did and just follow in his footsteps. Who's to say that his trade will work out?

Collectively we should focus on the net order flow to get a sense of direction and confirmation to our trades.