Recent content by PennieWise

Notice no one has said - "Gee, I got my edge by flocking to the most popular guru of the day and throwing my money at him."

He can't teach proprietary traders trading his own money how to be profitable, but he runs a trading school? (from the chat transcript) The "125%" rebate gimmick that TN runs is only possible because they own Realtick and they charge an exorbitant flat fee commission that kills you when...

The big difference to me was that the Mach has charting. Last I checked, Watcherplus had an attempt at a tick chart, but I found it pretty useless. The Mach is a little more user friendly, with customizeable colors and more options. The Watcher, I believe, used to be available to Broadway...

I'm so used to being broke, I wouldn't know what to do if I had money. http://www.siliconinvestor.com/stocktalk/msg.gsp?msgid=17010740 If you consult Basic Information Before Leaving Earth, being rich does not seem to be all that important. I would love to be able to give away millions...

"There is no fact about the recovery process" (<b> of an attempted bear raid</b>) Prices may recover more slowly in general, but I'm talking about this evil bear raid process. You can't assume <i>every</i> price drop is a bear raid.

There is no "fact" about the recovery process. If one large seller manages to push the price down by shorting, there is no rule that says the price will not go up as fast or faster than it dropped when the position is covered. If one entity is trading against the flow to short they may end up...

<i>it would make sense to prevent market manipulation by large scale shorting</i> You have the right to open as large of a short position as your pockets can afford, provided the shares are available. No one has deep enough pockets to "manipulate" the market in a liquid stock for very long...

The uptick rule was originally implemented to prevent the floor tactic of "bear raids" of the 1920s where a stock's price was driven down to nothing so a majority stake of the company could then be bought cheaply. Given our modern day market, a "bear raid" is a thing of the past that we no...

Shoes? We didn't have shoes. We nailed rocks to our feet. That's the way it was and we liked it.

<i>By favouring complete freedom of information they favour daytraders etc. Who would want to be a market maker then? </i> Since 90+% of day traders are losing money I doubt they are worried. It seems that they would be happy to trade against someone losing money. btw, the uptick rule...

That is why RealTick is so slow. If you are hitting the bid of an ECN with whom you have a direct connection it should seem instant or so fast you cannot perceive any delay. In that 1 second that your RealTick order is meandering to Chicago, other traders on a faster system are beating you to...

I still can't say it, but at least I can now spell it.

How is the spread going to go back to 1/2? After SuperSoes, the MMs are using ECNs a lot more, especially when posting bids and offers on the inside. NASDAQ clearly wants the business that is going to ECNs from MMs. They are in it to make money, so be it. However, if an ECN offers a MM an...

BTW "TN" also, as part of their corporate conglomerate, owns Townsend Analytics which owns RealTick. When you trade with RealTick, townsend gets like 3-4 bucks per execution - this is why you don't see cents/share commission structures on RT unless there is a $5 or so ticket charge. When you...