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Also, a former SEC prosecutor is questioning the legality of such an investment. http://www.nypost.com/p/news/business/dumb_ceo_tricks_rival_bought_mf_br7jn8ukRr4czxJRyijeVP

When do you think the last time IB lost $28mil in a single day with their market making division? Their VAR is likely way lower than that. I realize that 2% isn't a huge deal, but its something that IB should not have been doing in the first place. If they wanted to buy MF Global, they...

Are they not part of the same holding company? If an affiliate of IBG makes a huge terrible bet and bankrupts the company, doesn't IBLLC also get taken down?

I just logged on to my IB account and created a customer support ticket that expressed my displeasure about this recent trade and asked that the message be forwarded to IB managment. I suggest others do the same.

As an IB customer I don't like this one bit. I always knew IB had an active market marking division, but I assumed it was high frequency trading with minimal chance of catastrophic lose. Now it turns out they blew $28mil trying to bottompick MF global stock. Note to Peterffy: IB is not your...

If you violate margin, IB doesn't send you a warning, they will auto liquidate your position.

Anyone trade through Lek and can share their experiences? What's their trading software like? Min account balance?

What neke really needs to do is just stop posting. He obviously doesn't want advice on his trading, so I really don't know why he even bothers to report his results. Who cares what a bunch of internet posters think. Just focus on your trading.

0.0013/share doesn't even cover the ECN fees. I'm looking for input from people who have direct experience with BofA algos.

I just switched to a new broker that uses Instaquote, the order platform for BankofAmerica/Merrill. Included in the platform are many of BoA's algorithms like Ambush, Instinct, VWAP, etc. My broker is currently charging me $0.009/share to use the algos and I'm wondering if that is a fair...

Been using IB for 10 years so I'm a loyal customer... BUT I do also think the brokerage side of IB is structured to feed liquidity to timber hill. It does not mean IB is actively bucketing your orders or doing anything to harm your orders. Your trades wouldn't do any better at another...

Hmm, I haven't been following the health care bill that closely and this tax increase caught me by surprise. Applies to income over 200k, starts in 2013. Combined with the reversion back to the pre-Bush cut tax rates, we're looking at a 8.4% increase in marginal tax rates for the highest...

Ipad is hands down the best entertainment device for airplane travel I've ever seen. Replaces my laptop, dvd player, books/magazines, nintendo ds. I got a 3g version two weeks ago and now I watch movies via netflix while at the airport and play games/read books while in the air.

I was pretty disappointed with the film. After all the hype I thought we'd get an inside look at the big players and hear alot of cool trading stories. Instead most of the film consists of washed up floor traders complaining about how they can't make money anymore.

Is trading like riding a bike? Not exactly, its more like competing in the Tour de France. Even if you were a previous winner, if you haven't been on a bike in years, how do you think you'd do? I don't know what your strategy is, but I hope its more than just trying to use level 2 and...

LRPs are fine IF the halts are synchronized with all the exchanges. If other ecns continue trading then of course its going to be a mess.

That has not been my experience. Its not instantaneous but whenever I exceed margin IB starts liquidating within 60 seconds.

What he's really saying is that he USED to be able to make money playing poker back in the day when all the newbie fish joined up. Now its alot tougher playing against the grinders and bots online so he wants to try trading.

Changed your mind again? http://www.elitetrader.com/vb/showthread.php?s=&threadid=176535&perpage=6&pagenumber=1

Low. As the odds of this bill passing have been steadily rising over the past couple of weeks and should not come as any sort of surprise.