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why are odd lots filled first? I thought odd lot has no priority, and exchange does not like odd lot, and only fill them when the market is not so active.

Since make makers can submit subpenny order, for example, if a stock quoted at 10.01X10.2, he can buy at 10.0101 and sell at 10.1999. even if he is wrong, he can sell back to 10.01 or cover at 10.2, losing only 0.0001. that means, MM will never lose. As long as he can capture all the liquidity...

you are correct. I just found out OP does not use level2. thank you. I followed lescor's post since 2006 I knew the existence of this website.

wow, 3.5 cents on total volume is pretty good. do you trade based solely on chart or you also take look at level2?

great thread. lescor, when you said your profit on average is 3.5 cents per share, is the share calculated based on round trip or one way?

at least I do not want to spend time to figure it out.

not. it is more like a time-based cycle.

though china real estate is crazy, but when you want to short it, you have to think about the economy in china is different from western countries. for example, the real estate market is controlled by government, and the government has no incentives to let it down at all.

it does not make sense to me. I have his book, and after a few pages, I could not go further anymore. on the other hand, if the prediction is accurate, why does he sell it? he is not stupid at all.

I have a strategy that made 200% per year continuously for two years until it hits the liquidity issue. so you see, if you have a winning strategy, you can not make as much money as you wish. if I take unused money of my account, my return is still 200% per year.

I guess you do not know much about trading. at some level, liquidity would be a problem. it is possible to generate high returns month by month with little capital since in daytrading, you can utilize the capital multiple times per day.

this is an excellent post.

"how long one can spend in a given state WITHOUT being considered a resident" is a real concern.

the difference is that those riches are hiding money illegally. as long as they report to IRS , it is fine with the government. what we are discussing here is tax defer in a legal way.

I have no idea how those companies registered overseas can save tax, since those companies are doing business in states, and they have to pay tax locally.

eventually you have to bring the money back to the states.

if you have a model that can compound the capital, saving the tax is good for you and for the nation, because at the end you have to pay the tax, but in a larger sum, with the capital better utilized than in the hands of the government.

Steve, many thanks. your input is greatly appreciated. I will think about it offshore choice. I am a day trader on equity, unfortunately.

how about if I open an offshore hedge fund, and move capital to that fund, and I hold, say, 100% share of the company. then, the company opens an brokerage account in US. At the year's end, the profit in the company is 1 million for example, and I take home 100k as salary acting as the fund...

I guess the client only needs to pay his home country if his country has tax treaty with US. but I am not a CPA, my opinion does not count anyway.