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  1. Robert Morse

    Why doesn't everybody just short VXX?

    I'd say coming up to early Feb 2018, this was the most crowded trade in years. Big losses during that spike.
  2. Robert Morse

    How to trade volatility?

    I did not say you should not sell naked puts. I said a trader new to the markets and options should not. There is nothing wrong with your process as long as you can handle the dips and know it is part of the strategy that you will take losses from time to time. I can't do it myself so I have...
  3. Robert Morse

    How to trade volatility?

    silver182, ssp729 start with "Hello everyone. I am a newbie trader." I'm sorry, but no newbie (I hate that word) trader should be selling naked puts.
  4. Robert Morse

    is it hard?

    Wow, and no sarcasm. Good for you destriero . It is not clear to me he wanted to do a buy-write vs just be short from his question.
  5. Robert Morse

    How to trade volatility?

    I do not have enough information on your expectations and risk tolerance to answer that. They are also different accounts and asset classes. VX future’s are traded on the CFE in a future’s account and VIX options are traded on the CBOE in a securities account with no cross margin. They are both...
  6. Robert Morse

    How to trade volatility?

    VIX options are really not for new traders, but sure, if approved for option level 3 you can buy options and spreads.
  7. Robert Morse

    Volume at last minute of the day

    NASDAQ closing auction.
  8. Robert Morse

    Discretionary entry, fully automated exit

    Expensive, and we do not offer it, but Actant ExStream has built in scripting and works well. I used Actant Quote as a MM and liked it very much. http://www.actant.com/exstream/ Developing this on your own is very hard, time consuming and still might not get you want you need.
  9. Robert Morse

    Daytrading becomes more difficult because of algorithmic trading?

    Everyday our scanners pick up stocks that move more than 10%. I would not trade them, but I'm not a trained day trader. They create opportunities. As a lot of "big money" is often moving from one industry group to another, this does not move the needle with the S&P 500, but might create...
  10. Robert Morse

    Daytrading becomes more difficult because of algorithmic trading?

    IMO, the smaller range and lower volatility are due to a maturing market, not to automated trading. If you look at foreign markets, many are very volatile and still have automated trading.
  11. Robert Morse

    Daytrading becomes more difficult because of algorithmic trading?

    It was not per share or per trade but a commissions based on the dollar about of the trade. It could run from 3% to 5%, but not more than 5%.
  12. Robert Morse

    Daytrading becomes more difficult because of algorithmic trading?

    I have been involved in one way or another in the stock market since 1981. The market evolves continuously and good traders adapt and look for opportunities. Placing blame and pointing to changes as the reason why now it is hard, is not helpful. As long as pricing move and there is volume in...
  13. Robert Morse

    Discretionary entry, fully automated exit

    On a side note, automated option trading is materially more difficult than equity trading. In a timely basis you need to have a process to value the options vs the current equity price and then send your order properly tagged as open or close. You need to be able to quickly cancel/replace when...
  14. Robert Morse

    Continually Mistaken, Chronically Admired

    Is this for a PM account at Apex?
  15. Robert Morse

    my issues with IB

    We offer VWAP and TWAP orders.
  16. Robert Morse

    Predicting and executing at the opening price

    I do not know what the procedure is for IB. I can tell you that as long as your follow the rule set for entering orders with us, once you target the Opening or closing auction, we route to the primary exchange and you are part of that closing auction. This is not complicated...
  17. Robert Morse

    Does it make sense to do pair trading?

    "A" vs "B" shares Two stocks in the same industry (You expect one will outperform) Two stocks in different industries (You are betting on movement of cash out of one industry to another) Small cap index vs large cap index Buy the top rated symbols, short the bottom rated symbols Warrants vs...
  18. Robert Morse

    is it right to look at it the losses like this

    Just use market to market of all position. Your trading software should show that,
  19. Robert Morse

    Is there a list of fixed income ETFs without 30% withholding taxes for non-US citizens?

    It has nothing to do with what the symbol is. https://www.irs.gov/individuals/international-taxpayers/nra-withholding Withholding On Payments of U.S. Source Income to Foreign Persons IRC 1441 to 1443 (Form 1042) Generally, a foreign person is subject to U.S. tax on its U.S. source income...
  20. Robert Morse

    Does it make sense to do pair trading?

    What type of pairs trading? In general unless you find an arb, this works better with scale and a levered account like PMA.
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