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Program testing can be used to show the presence of bugs, but never to show their absence! Dijkstra, 1969

Interesting thread. The thing I really wonder about is CLEARING costs. I seem to get conflicting answers about how much it really costs to clear trades. I've heard from some B/D's that it's based partly on the number of different securities you trade in a given day, and others say that that's...

This is highly dependent on the provider and the software (which is often written by the provider of course, but not always). There are no real limitations, once you get this into a programming environment; and with most of the better systems, you can. Generally the software conduit for this...

Thanks for your posts, Rabbitone! Many of your points seem to agree with what I've observed as well.

http://elitetrader.com/vb/showthread.php?threadid=150107 Please also keep in mind that there is no defined schedule under which people "become profitable" -- it seems that the vast majority never do, and a large portion of the remainder get a taste of what they think is success due to the...

LTCM and Renaissance aren't really comparable, in my opinion. These two names represent totally different management styles, organizational structures, and levels of sophistication (Renaissance's being orders of magnitude above that of LTCM, whose core "strategy" seems to have been overleverage...

COMEX also has both copper and aluminum contracts (www.comex.com). Have you considered these? I think they offer smaller units than does the LME, and it may be a bit easier to trade on, generally -- LME's rules and trading sessions are byzantine by comparison, in my humble opinion. But LME...

It's possible to get this data off of Yahoo or Google Web pages. There are a lot of API's built specifically to download these data from Yahoo and Google; one I remember was called YahooQuote.pm: http://search.cpan.org/~edd/Finance-YahooQuote-0.22/YahooQuote.pm You may need to learn...

What Shreddog said is correct. Especially that you need to specify WHICH order it is you're trying to cancel. However, depending on what you're doing (e.g., how fast you're sending orders), you may not necessarily need to store the ID's yourself, since Sterling keeps them for you and sends...

It COULD have been busted, although it's not dramatically away from the "prevailing price", so who knows. The exchange can bust ANY trade at their discretion -- part of the reason they're trying to reform the bust rules and make them more consistent across exchanges. By the way, just an FYI...

Many different products, for many different purposes. See the reviews section of this site or look at the old threads under this category.

I agree with that! I wonder if there's a system smart enough to do that -- pretty simple, maybe: If it's a non-stop order: cancel it. If it's a stop order: keep it. But I may be missing something in the compound cases.

Heheh..very funny post indeed! But lpchad seems to have claimed to have traded before; his credibility seems shaky to me: http://elitetrader.com/vb/showthread.php?s=&postid=2171926#post2171926

This is a good point. Lightspeed is essentially a Schonfeld entity as well, so there is also potential conflict of intrest with Schonfeld's own trading groups/high frequency hedge funds, which I understand use the same physical trading facility in Long Island. But as I say, that is only...

It makes a lot of sense to me -- I've experienced the alternative, namely being disconnected and having orders till live -- let's just say the results weren't always what I wanted :D

Speed of order placement should be pretty much instantaneous for both directed and "smart" order types; millisecond-granularity autotrading is probably the only thing that would notice the difference.

http://www.newegg.com/Product/Product.aspx?Item=N82E16822148377&Tpk=7200.12 Nice..and the 2TB four platter version is rumored to come out in April!

Basically, there is a lot to learn with exchanges and how they charge fees, so this may be more than you need to know, starting out. Exchange directed orders allow you to control the fees you're charged/rebated. The major US equity exchanges have similar pricing/rebate structures, so this...

I don't think this is relevant to the OP since, as OP's post states, they're only trading stocks. But even if that weren't the case, I think the question is a lot more complex than that. Unless, of course, all you do is trade one [contract/share/whatever] per month and don't care about...

I think they're both fine, provided you're trading relatively small volume (<1m shares per month?), taking liquidity, and using non-directed (IB calls them "smart") orders. On the other hand, Lightspeed may be cheaper for exchange directed orders ("NSDQ" vs. "ARCA", etc.), and also may...