Search results

Dude, if you cannot trade IDEALPRO without substantial slippage... Just quit right now... The typical IDEALPRO trader gets price improvement on 20-30% of Limit Orders... Which you have never heard of. And stop spamming ET and with your assclown routine... You will do honor to my ignore...

The OP's post makes sense ONLY if trader used "market orders"... And only a clueless n00b would trade without using 99% Limit Orders. A Limit Order aligns the trader's interest with IB's interests... Both parties NEED an execution to make money... The price is set... so IB must max chance...

It's illegal to start a currency that competes with the USD... For obvious reasons... And so it is in every developed country. These types of laws above generally apply to "Financial Institutions"... Or businesses that are Shadow Economy Financial Institutions... Which means every web...

IB does not participate or trade on IDEALPRO... You are trading against about 10 MM and 1000s of Customers. Both of you should get a clue... I don't know WTF you mean by "stop order"... But my Limit Orders get filled without any obvious problems... The NYSE is infinitely more crooked...

This. You need a creative strategy to make money in 2011... This virtually always implies building custom software systems. At the very least... You will have to get a high-end solution with a 1st class data warehouse... You're talking 5 figures/month... And then add extensive custom...

This is the biggest similarity... You learn > 90% by studying your losses. Other than that... If you were playing online poker... Against 70% Bots run by people with $$$$ budgets... And designed by guys with PhDs making $250,000/year... (Instead of 50% drunken 17 yo idiots surfing porn...

Time stamping is trivial... and Linux has a 1% market share.

I use Excel as my front-end to display EVERYTHING... And set parameters for the underlying systems. You can even offload maybe 50% of calculations. It's not nearly as good as a custom front end... But it's a very easy solution where latency not big issue.

Small stack poker "works"... Because you have excess "folding equity" versus multiple big stacks in a ring game... "Folding equity" and ring games do not exist in the financial markets... You are not dealing with a closed system like a poker game. Also, Pros will quickly identify SS...

This is nonsense... you are selling a product. Over the years my hedge fund variance... Is about 3% of what is typically experinced by elite online NLHE players... (Yes, I did the math)... And virtually every trading firm in existence has < 10% of NLHE variance. Since you can choose...

Find and hire a good CPA, period. Forget about "accountants" or "tax experts"... Find and hire a good CPA with a small to mid-sized firm. A good CPA will structure you so you can defer taxes... And you are VERY unlikely to be audited with a reputable CPA... The IRS does not waste time...

Also 24 hour results tend to be unreliable... You could be posting "profits" in dead-of-night illiquid periods... When few actual trades take place... I'll bet you do worse 8:00 to 16:00 than the rest. This kind of thing may be great for a 14 year old... But I could data dredge something...

You mean the way IB blew up? These guys are 100% automated with low latency... I'm sure they capture a piece of the spread most of the time... And then when you lock it in with a synthetic... You are working 2 other spreads to lock in a tick or two or half... And you are scalping futures...

IB volume display for CL options is same as these links... So it's all probably the same... And most the volume is way out-of-the-money. http://futures.tradingcharts.com/marketquotes/CL.html http://futures.tradingcharts.com/marketquotes/CL.html It's hard to view these as "liquid"...

An MBA has absolutely nothing to do with being a Pro Trader... You may as well try writing off French History courses.

The low end Prop Trading Business is dead... As in running "Trading Camps" with random mooks from ET... So Don has gone down with the ship.

oga implied LO options are not traded electronically, only pit... With IB I only have access to CL options... LO does not even come up in the IB Symbol Guide. I don't care American/European... But whether spread is $0.03 or $0.05 makes BIG difference... I think most non-Pros completely...

Historically, market manipulation has always been illegal... The phrase was not even defined in SEC/NASD Regulations... Because even the INTENT to manipulate prices was and is still illegal. But there is zero enforcement... Standard Algo strategies like "spoofing" and "quote stuffing"...

Thanks for your answer. IB only offers access to CL electronic options... But that's about 20% of volume with spreads at least 1% of option value... And according to your answer... 80% of volume is floor based LO options with tighter spreads for bigger players.

IMO, very solid mechanical can be marginally profitable... But the nature of Market Making and Scalping is: (1) Sideways days you rack up large positive ticks. (2) Big moves cost you ticks. So it's all about managing the big moves... Big moves on news often take 5-10 minutes...