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With exchanges, they have a system by which a disinterested group at the exchange "rules" on the bust. Who "rules" in a case such as this one, where NITE itself is hardly a "disinterested party"? I'm not sure who your recourse would be, when your trade is routed to an MM directly (whether as a...

Hmm...probably a far greater waste of his time/money if he continues. If one's strategy relies mostly on "trading courses", my guess is that their chance of success is virtually 0. Anything as simple as what can be taught commercially is easily coded and/or arbed out by the most basic of...

Huh? He's a second-year med student -- it's all but guaranteed he's going to make it, no matter what your interpretation of his "reasons". One ceratainly cannot give the same certainty of success for those in trading or money management.

Here lies the danger of non-standardized, non-centrally-cleared securities -- even institutions get scammed. If someone is trying to sell you something (particularly if they are the exclusive counterparty), one should be very cautious. If all such trading were forced onto open-competition...

Neither Nasdaq Options nor Arca Options charge a cancel fee. This is possibly true of others now, as well (Nasdaq PHLX?). That said, I'm sure IB doesn't like "the little people" competing with their own Timber Hill market making unit, and cancels being an essential part of liquidity adding...

There is no easy answer to this as the ECNs frequently change their pricing structures and order types, and these often have nonobvious consequences. That said, market stop orders (and possibly other types of stop orders) are probabilistic suicide in today's equity market structure. They're...

I agree that the chances in today's market are pretty low through trading, which has gotten much more competitive as well as technical. On the other hand, there's a nontrivial chance that such a person could do that well through investing, using risk prudently to select investments based on...

Ask on the careers section of Nuclearphynance or Wilmotte.

In order to have direct access, you really need to be able to send directed orders -- to a specific exchange. Ameritrade once let you do this; I am not sure anymore. Quite often it costs something extra, as many retail brokerages like to internalize your "undirected" or "smart routed" orders...

NxCore's historical data pricing may compare favorably if you're buying historical for an entire market -- it only comes as a complete feed -- although you'll need to learn their API. You'd have to ask them how much exactly it would cost.

A few of other brokers to check out that might allow you to trade forex somewhat "directly" (e.g. with ECN's) with a $5M plus account include: - ABN Amro - Newedge - Credit Suisse

Probably every "flash crash" in the past 30 years was caused by automated (or automatic, if not automated) positive autocorrelative "safety" strategies -- this includes the '87 crash (portfolio insurance), the May 2010 "flash crash" (market stop orders, after a cascade of other events triggered...

I think it's a horrible idea if this were a tax; that is, if such fees were collected by/for the government rather than used to offset other trading costs (i.e. paid back directly to the exchanges). If set by the government for revenue-generating purposes, it will undoubtedly be set too high...

Wow -- 6 years and this is your first post? I'm amazed you still remember your password, not to mention your username. :D Or have you been reading EliteTrader the whole time without posting?

1 is a parameter. Fail.

I think that NxCore might be good for this, if you're willing to pay a somewhat significant amount ($1000 per month for the live data, maybe?? Not sure; you would need to ask them.) They have a lot of historical but you have to pay for that separately. All the data are accessed through an API...

Bring back the Bear! (But with a restriction to Chit-Chat and Politics/Religion :D)

I wonder what his thoughts are on insider trading. Maybe it's that if you're a billionaire from selling a junk Internet company at its peak in 1999, then you're exempt and can trade on inside info all you want, as long as you hire the right attorneys. But as for everyone else... Before...

Aha, so it's a backtesting platform rather than a canned strategy. In that case, please disregard my previous comment -- it has nothing to do with this type of software.

I think setting a minimum spread like this would be horrible. A much larger proportion of the volume on higher-volume stocks would be internalized by the clients' B/Ds -- there would be almost no "real market" for many stocks anymore. Moreover, B/D internalization has a tendency to vanish...