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I find momentum stocks and look for correlated stocks to pair them up with...trade the stocks for momentum/scalping and put on the other side only if you get caught--then trade out of the pair for a small profit and continue. The trick is to only trade the lead stock on the side that makes sense...

If you are really serious about pair trading find an experienced prop trading office that specializes in pair trading. I learned as much as I could from others in the office I was with, then used what works for me.

i'm from the Vancouver area and traded at the Bright office in Langley...its a great location--seeing as how I lived 5 minutes from it ;)

here's how it works: the specialist is out to make money for himself and/or his firm, but they are kept accountable by strict nyse rules and oversight of what constitutes a "fair and orderly market"...the main rule being they can facilitate but not initiate. some specialists try to get away...

there are none...I checked every financial online bookstore when I began pair trading.

fair enough!

Actually, I don't have that big a problem with these "creative" promotion tactics--but I want the truth about a company, not hype...and you may as well tell the truth about who you are, legitimizing your company instead of diminishing it.

I couldn't find that feature in their Platinum demo software :confused:

I've used both...TS6 is better than 2000i, but the features coming out in TS7 look better than any previous version (especially now that optionstation is included).

Good to know...thanks.

What?? I worked at a prop firm--Bright Trading, a great firm (not perfect but then who is?). Never any holdbacks, etc. Be careful with generalizations and unqualified statements.

I looked for books when starting out too...couldn't find one--most likely for the following reason: this skill is caught, not taught. it took me about 8 months full time nyse trading before the lights went on. at that point, trading becomes automatic. most tape readers can't explain it, although...

Any experience with both? eg, commissions, speed, support...

Thanks...that's what I wanted to know. I haven't looked at Datek for years because of the reasons you stated above. The low commissions are deceptive because the orders get routed to an exchange (Island) without liquidity for nyse (except for the highest vol. stocks like GE or C).

Better treatment. First, according to nyse rules, bigger size takes precedence. Second, specialists want good liquidity and will generally take size more seriously because they want your business.

I've had the same experience...a dow30 nyse specialist doesnt care about our 1000's or 2000's--but throw 5000+ at them and its a different ball game.

you're busy. I used to have as many as 12 pairs on at once...then collapse at the end of the day.

true...I've placed opg orders after the market has opened and been filled on them because the specialist delayed the opening print of his stock.

After weeding out Susquehanna stocks, it generally boils down to the individuals not what firm they are with...I spend time trading a stock to see how the specialist will handle my orders, then focus on the ones I like. Also, I'll never trade with AMEX specialists...

I pair traded full time for almost a year and learned what works and what doesn't--the hard way.