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GATrader, You can trade stock against your Long Straddle Option positions if you buy your options at the correct Volatility and you can trade around the straddle to make up your decay and hopefully get a big enough move in the stock to make it worthwhile. When stocks are moving and...

REDI+ in terms of volume is the largest direct access software provider. Trading on direct access software is not like turning a light switch "on" or "off". Network issues and slowness can be complex and must be troubleshot by qualified techs. I have traders who have lighting fast internet...

DATTrader, Just a note. I can setup REDI+ with hot keys just like the Watcher if a trader wants the software setup that way. F-1(Buy REDI),F-2(Buy ISLAND), F-3(Buy INCA) etc... REDI+ software will then "act" just like the Watcher and probably execute at the same speed(+-200ms).The speed...

Fees are on a sliding scale depending on the # of users the firm has. Professional exchange fees apply to NYSE/AMEX/NASDAQ. If you pay $200 per month for quotes and you get NASDAQ/AMEX/NYSE/OPRA/CME/CBOT etc., your exchange fees will add up to approx. the same amount as your quotes, so the...

Don, I would agree with you on this one. If you are a "Professional Series 7 Licensed Trader", trading firm capital at a professional firm-Bright,LWS,ECHO,Genaric etc. , then you must pay professional exchange fees. I don't like professional fees, but these are the rules and we pay them...

Newatthis, I want to respond to your question and it is not easy to answer.Statistics can be manipulated by who ever uses them.70% of the traders in one of our offices are profitable and 40% make high six figure incomes. However, we may have gone through 100 traders at that location to...

Def, I think that is true. The L.L.C. margin is a true benefit to full time professional traders. One of our API traders is in the top ten in terms of P & L at our firm and I think that will grow. API interface could be used for match pairs trading , mechanical trading systems , ARB etc...

voodoo_invest, You will have to take the Series 7 exam to trade at a professional firm if you enter the orders yourself or by API. The reason for the Series 7 requirement is because we are set up as a L.L.C. and you are professional trader trading firm capital not subject to customer...

Just a note. I know this thread was in reference to IB , but if there are any traders who would like to connect to a direct access order execution system in C++ or Visual Basic, REDIFIX is available right now. Executions can take as little as 200ms(milliseconds) when executing a matched trade...

ShortIgnorance, That's a good point. I always felt that there is more to a firm than pricing. E-Trade may have 2 million plus customers and their business model does not make money. E-Trades business model was based on payment for order flow and a Bid-Ask spread(which is now 0 or .01...

tom_p, Just a note. Slowness on direct access software can occur for a variety of reasons . We have used REDI+, ROX and other direct access software in our offices with very good results. Do you access REDI+ over the internet? Then there are several problems that could occur including...

Limitdown, I just want to comment on your response to REDI. You say that "I was stuck with the SLK Redi+ system, which was the worst fate....". REDI+ is a decent system, but you have to remember that there are no stop orders accepted by OTC Market Makers. You must use "Mental Stops"...

Just a note to traders taking the Series 7 . Don't be cheap, buy new study materials that are updated by the publishers. I like the materials from Dearborn at www.dearborn.com/ . They have a CD ROM that is like the test given on the Proctor Terminal. I would study at least 40-80 hours for the...

PC Quote/Hyperfeed is a good sorce of quotes & data. Alot of the reliability of quotes has to do with the bandwidth of your connection, access to quote server(internet or WAN), RAM on your computer, Software conflicts if any(assuming you use direct access execution software)& hardware(usually...

Hmmm, I think it's very hard to give simplistic answers to problems you may ecounter with direct access software. I can't answer for Bright or Echo,but I do think REDI and Spear, Leeds & Kellogg have decent systems & software. There are four major direct access order excution platforms...

If you use ISLD or REDI on an ECN match you should get fills in less than one second. If you use NYSE direct(NYSE auto-ex), you will get filled most of the time in less than 5 seconds. If you use NYSE or AMEX your orders can take a while(up to 30 seconds for market orders and sometimes more)...

Nasddaq II shows who is bidding and offering on the NASDAQ market. Just like a chart, NASDAQ level II is subject to interpretation by the trader. If Goldman(GSCO) is bidding for 1000 shares , are they really "bidding" to buy or just trying to hold the stock up to sell . If I see 50,000 for...

Just a note. In the book "Market Wizards", I believe it was Ed Seyota who said about traders" Many are called and a few are chosen." There is really no way to tell if you are a good trader unless you have some of the basics taught to you and learn as you go. Unless you work as a prop trader for...

andrasnm, My business model, trade more-rates get lower. If a firm has to cut rates .01 to attract traders who make 5 trades a day then it isn't fair to traders who make 400 trades a day. All of our high volume traders have some of the lowest rates available and still every trader(even...

andrasnm, You are welcome to start a pro firm. This is America and if you have the capital & desire, you could be successful. Sure 2 million isn't that much , but my point is that this is not as easy a business as it seems. It's really much easier to trade then to start a trading...