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I say the fewer middlemen, the better. With an ECN, you have 3 parties: 1) buyer 2) seller 3) ECN collecting a small fee. On the NYSE you have 4 parties: 1) buyer 2) seller 3) NYSE collecting a small fee 4) specialist trying to screw the buyer or seller wherever he can to make some money...

Most of the time, that's correct. But not always. Example, I placed an order on the NYSE to buy 10,000 IBM at $125.30. I get a partial fill on 2,300 shares leaves 7,700. Five minutes pass. Then I see more stock trade at $125.30 on the NYSE but I get no extra fill reports. I call my floor...

Correct me if I'm wrong but NYSE still does not have a strict price, time priority for orders. The NYSE's main rule is to keep a "fair and orderly" market, and they don't have to even follow that mandate 100% of the time. IMHO, ECNs are a better way to trade (unless you are the specialist)...

Wiesman, Which futures broker are you using? Do you like them? How much do you pay in total all-in for a round turn in the YM? Is there anything that you particularly like or dislike about your brokerage firm? Anything that you wish they did better?

Since the money in the savings account is not tied up, if short term interest rates rise and he can get a better rate elsewhere, he can just move the money, get a higher rate, and avoid a gut check.

3.5% sounds like a good rate, where are you getting that rate? I'm only getting 2.61% as of June 4th in my money market mutual fund, FSLXX.

Some brokers will place a limit on the maximum size of your limit order. Ask them if you have a restriction and if so, can they raise it. I like a limit of 99,999 shares because I don't trade 100K shares lots or more and if I intend to enter an order for 10,000 shares, I don't want to...

No other clearing firm wants to take the whole lot of clients that NACI cleared for. I guess that tells you something, see updates by the receiver at http://www.northamericanclearing.com/

"This decline accelerated further when North American lost more than $7 million in connection with customer transactions in a penny stock company." DOH! I wonder what happened there.

http://www.sec.gov/litigation/litreleases/2008/lr20602.htm http://www.sec.gov/litigation/complaints/2008/comp20602.pdf

http://www.nymex.com/CL_spec.aspx Settlement Type: Delivery Check out section 200.15 of this link http://www.nymex.com/rule_main.aspx?pg=32 If you have an open CL position at the end of the last day of trading, you will be making or taking delivery. If you don't want to be involved...

Here's a link to the exchange minimum margins http://www.cme.com/html.wrap/wrappedpages/clearing/pbrates/PBISOutrightEQ.htm?h=2 For the ES Type of trader - Initial Margin - Maintenance Margin Spec - $4,500 - $3,600 Hedge/Member - $3,600 - $3,600 A lot of brokers will give you the...

Is X your total position or just the size of your initial position. For example if you buy 100, then buy 50 more your current position would be 150. If you were to add .15X is that .15 (100)=15 or .15 (150)=22.5?

I like to start a position with 1 contract. That way if the market moves against me to my stop level, I'll flatten my position and only have a loss on 1 contract. However, if the market moves my way, at certain intervals (which is separate question) I will add to my winning position. I'm trying...

I'm a low volume trader and was given the following RT all in rate quotes for trading ES: AMP $4.30 Mirus $4.75 Go Futures $4.30 Velocity Futures $3.98 with Ninja Trader and no monthly platform fee. If I were you, I'd talk with someone at AMP, Mirus and Velocity Futures and see if they can...

I trade very small volume of ES. IB quoted me $4.70 per round turn including all fees. Take a look at Velocity Futures. With free Ninja Trader Velocity Futures offered me $3.98 per round turn including all fees. IB offers the ability to enter orders through a web browser but Velocity Futures...

If you don't want overnight risk, day trade instead of swing trade.

What type of trading approach do you espouse? Do you add to your initial positions? If so, how?

I appreciate your concern. I reread maxpi's 2 posts and his system was a Martingale type system that adds to a position which is going AGAINST you. My system is the opposite, an Anti-Martigale system to add to your position if it going FOR you. A martingale system will have many small...

I've decided to trade with this system a little bit even though I haven't backtested it or optimized it. For this trade I'm using a 13.50 increment level. I'm also adding lots in the the pattern 1,0,1,1,2,3,5,8. I'm adjusting the stops on the first 3 levels a bit (my psyche can handle a $25 gain...