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In Harris' book "Trading and Exchanges" he says the market makers make money off of uninformed traders through the spread which compensates them, and they lose money to informed traders. However, when I look at US equities traded on NASDAQ where the bid-ask spread is typically a penny, almost...

I wish I still had the old version. I'm looking through old hard drives trying to find it. The new version I have is crashing everytime I disconnect a client from it. And it isn't just some Linux thing, the same behavior is happening in Windows. EDIT: Found it. Old version is working fine.

It runs just like on Windows 7 -- crashes the first time around and is flaky, but the second time around, it seems stable and continues to run properly.

I figured it out. You need to use winetricks to install msxml3, then install the VC++ 2010 redistributable, and -then- you install IQFeed. Then it at least runs; I have no idea how well it runs yet, however.

4.7.2.2 worked fine for me, but the latest version chokes on the VC 2010 Redistributable installation. Does anyone have a work around for this problem? I use IQFeed mostly under Linux, but have been forced to cross-compile for Windows lately and do not wish to do this anymore.

I'm at around 500ms on IB as well. You can't trade anything that requires pinpoint accuracy with IB, your slippage will be terrible. You have to factor in slippage of about 2.5-3 x the bid-ask spread in all your models to be on the safe side.

New Bug: The market depth view doesn't always get the colors right. If the market is 10 x 11, sometimes the 10 side will be half-colored in so some ECNs will be colored in blue and some will be colored in purple, giving the illusion that there is more liquidity available on one side than the...

Usually 10x the average book size, quotes don't stay for more than a second, if even that. Seems to happen in liquid stocks quite a bit lately.

Anyone else out there noticing this more frequently lately? I'm not talking the usual odd order of a few hundred thousand shares or a few million shares, I'm talking about large orders of heavy size on the pay-big-fees-to-remove exchanges in the depth of book, usually on the NBBO.

Well, unless you do it first and faster. Speed is expensive though.

I was reading the Tradeworx web site for comments from their partners and founders on the average profit per share, and they seem to use the ballpark figure of .0010 per share -- which I believe is a reasonable number, after all fees. Anyone care to throw out some numbers on what sort of...

. Mods, I was unable to delete the post for some reason. So.... How are all of you doing tonight? Please, try the salmon. Has anyone heard the one about the preacher, the rabbi, and the priest? <Tells joke> Ba-dump-ump-ching. Thank you, I'll be here all week.

This is a very nice UI. Good job.

I know bloomberg terminals show this and the exchange web sites show this, but I'm wondering if there are any public web sites that show this information (for some symbols.)

Stock traders are failing to represent here. I guess the bots wiped all the stock traders out. I trade all the large cap stocks, and that's it. No futures, no options, no nothing. Just stocks.

Why doesn't IB show the exchange where the trade happened on the time and sales? At least in the version I'm running, the column settings for time and sales doesn't show which exchange (for stocks.) This isn't a bug, just a nuisance. I like TWS overall, but there are small, one-off quirks...

I don't have anything to add to the conversation, but wanted to say that I like 95% of your posts and opinions. You have a good head on your shoulders.

Should I preemptively file now for that unfortunate day where my PnL is not so hot?

Great article, in that even skilled laborers will be screwed in the future when the Indians and Chinese have enough people with the right work ethic, skills, and government stability. Everyone in the world is looking for an edge, not just traders on ET.

I don't think any of this psychological stuff matters unless you're a manual trader. I find that when I am wrong, I'm consistently wrong for a reason. I just let the errors guide my behavior.