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how do you scalp if you don't mind me asking. (No offense)

I assume that's the edge. And I further assume that these stocks are your favorites, the ones that usually go. Let me venture a guess. XOM ?

i use to get conversions on oil, but right now I do it old school, just offer ECNs. I hardly get filled on ECNs nowadays not to mention new york. When it's hot and really good, i would offer, and offer only to cancel when the market short is over. what's your primary play if you don't mind

steve, if I remember correctly, you don't use the openbook, well, what do you mean by scalping then? Most traders in my firm, we look for big aggressive size stepping down and we front run them.

not sure but if we front run an aggressive size stepping down, many say there won't be much of that opportunity anymore, or opportunties that will not present themselves worth while to go through the hassle of getting filled and then maybe if you are lucky to get a couple of cents out.

it fuckn sucks, really, how do the ones scalp on new york with the new hybrid market? Or is scalping even a profitable option anymore once october 6th hits... and they say october is the best month of the year too...

scalping will change forever- no more racing sdot with nx no more enveloping as we know it no more price improvment(although they say not- we know it is) no more cleanups as we know them no more steppingdown trades as we know them no more openings gravy can you shortly elaborate your...

so so true. I get filled faster on new york than ecns when I'm wrong, and have to wait literally minutes to get filled (most of the time I don't get filled anyways and just cancel) when a good market short situation happens

the thing that I am worried about is that if he locks the bid ("1"), does that mean that all of us traders are trying to get short because of the good bearish situation here? He is just merely taking a time out to figure out what's going on? I am concerned because what if the aggressive size...

hey thanks for the link, as everyone in my firm practices, we vary our position size according to each situation (or in this case as in the article described- volitility and risk) right as I expected. It makes sense to trade small when the market is not giving many opportunities and not miss any...

excuse this but what is "sweeping of the book"? Can you elaborate on your perspective on market shorts and lifting of size? I like the more than 1099 shares rule but in retrospect ,the unlimited size is quite a handle on the price level everyone is seeking to NX.

hmm about hiding the size, i noticed that at the close, the openbook will magically display huge sizes where as just momments before the closing bell, it looks "normal"

i'd like to know as well What does it mean to have a 1 on the bid when the size is on the offer side and vice versa? and what's the difference of having 1 x1 (on both sides instead of just on the bid or just on the offer alone) I assume that the 1 on the bid locks the bid side of the...

steve, bit, thanks for the inputs, let me "summarize" and group my thoughts so far. Please feel free to comment. What Happened This morning WB was downgraded, and I clearly see some institutional size right at the closing price. The market opens, all hell breaks loose lol, and the size prints...

right, I noticed that sometimes the size offer would get nibbled 2000, 5000, 7500 at a time until it's gone but I'm talking about when the whole thing gets printed in one shot, very clean, one shot, would the specialist show a "1" on the offer at that price level? I observed that there was a 1...

can you elaborate on "sweeps",

yeah, that's what I thought, you mean sellers or traders who want to get short? I first thought maybe he is just too busy matching orders in a good bearish situation like this. As long as the size is aggressively stepping down in the openbook, it is legit no? seconds later, the size at the price...

hmmm...well I observed this just minutes after the open in stocks that has been downgraded and had some institutional size that was aggressively stepping down. It's weird because sometimes the "1" would be on the bid, and on Level II, the New York quote would not move, but in the openbook, the...

what I meant was I used 5k of my own money but was leveraged up to 100k

well, this was meant to be a constructive discussion as currrently, I scalp equities and was wondering how would things affect me when this takes place (which, according to the NYSE website, it will be completed soon).