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"In contrast to some of its competitors, IBG LLC is not making trades based on knowledge of customer order flow, but rather on its pricing model." I find this very hard to believe. This statement implies that everyone does it... But IB has chosen to tie one hand behind it's back...

To put it another way... If you so not have a million dollar tech budget... Then why would you chose to compete head-on with those that do?

This.

Any "intent" to manipulate the market is illegal... Whether expressly prohibited or not. Making a trade between 2 linked accounts... Is not expressly prohibited or illegal. It depends on what you "intend" to do... and the actual effect it would have on the market. I was occasionally...

It will never become law because it's idiotic.

The business press in not part of the Securities Industry... And, therefore, not regulated in any way. If you think free data is error-checked and accurate... Then you have a lot to learn about life. Want quality data? Then pay for it. All you guys running TA charting on garbage free...

Today was the wildest day in terms of swings in financial paper in the 15 years I've been trading... (And I made 480 trades today and made about $20,000 net today... I live for days like this). The only crises that come close... Are the week Russia defaulted summer 1998... And a month of...

A virtually equivalent Merrill preferred MER-PM... Was issued in April 2007 at $25 to yield 6.45% Today, July 15th 2008 that security closed at $12.90 to yield 12.50%. What you ** guess ** about GS you could have ** guessed ** about MER one year ago... And in general... No one can price...

Your random system with martingale... Actually has negative expectations... Because you will be paying a penalty on each "stop" and reversal... on top of commissions. You have a 100% chance of going broke if you do this long enough.

Hedging funds over/under priced relative to NAV... Does not work for various reasons: (1) This over/under pricing is COMMON KNOWLEDGE. (2) There is usually an obscure reason why a fund is over/under valued relative to NAV. (3) Any reversion to NAV takes months or years... So you...

STFU smart ass. Many banks around the world are totally incompetent when sending wires... It's all still 80s technology. And IB doesn't care... Their business model is to offload service and risk on to the Customer.

You are not taking this seriously... maybe you should just get a job.

Free data feeds "blow away" pro-grade feeds that are priced accordingly. Another ET classic.

"The fund, which despite its struggles... Has delivered an annualized return of 10 percent since its 1999 inception, Began this year with just $400 million in assets." 10% Big Deal. And the guy thinks he's Einstein.

100% NYSE Listed routed SMART... But only about 75% (and dropping) executes on the NYSE... Versus > 92-93% one year ago.

There are exactly and ONLY 2 ways to make money trading: (1) Exploiting a market inefficiency. (2) Exploiting the bid/ask spread using Limit Orders... In effect, getting paid for providing liquidity where it's needed. I generally trade stocks with daily volume around 100K... So the...

bid-ask spread average + $0.0035/share is reasonable for back-testing... Which is what you will pay on several million shares/month. As you know... The bid-ask spread varies a lot form $0.01-0.02 on liquid stocks... To $0.05 to $0.10 or more on less liquid stocks. A good trader...

I'm not being "pessimistic"... Just realistic based on > 1,000,000 trades over 15 years. I have a Computer Science degree as well... And build ATS... But would never even consider trading the most liquid stocks... Where latency = $$$$$$$$$ is paramount. You mentioned a KEY point...

Since you have an advanced degree in Computer Science... You should be able to comprehend that sub 1 millisecond platforms are already 3 year old technology... Such as this: http://about.reuters.com/productinfo/informationmanagement/material/Reuters_DataFeedDirect.pdf What you are...

Exactly. Every long position should be hedged with a similar short position. If you are managing an unhedged Portfolio... And thus making directional bets... That is... "picking stocks" when 1,000 or 10,000 insiders know more than you do... Then you are a "subsistence level gambler"...