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Ok, I give up on this rotten idea. I found the relevant reference under "market manipulation law". Here's a link: http://www.law.uc.edu/CCL/34Act/sec9.html It's definitely illegal, and not worth being busted for. Time to close this thread.

I know self-dealing is illegal in retirement accounts, for obvious reasons. I have not be able to find anything that says it's illegal for regular accounts too. Care to post a link?

I can make it so it's nearly impossible for someone to beat me to my own order. For example, say my stock closed at 10, and I wait until 7:30PM before I do my dirty deed. Say the spread on the ECN of my choice is bid 7, ask 11. So I prepare a buy order on the receiver broker at 8, and a...

Has anyone thought about using an ECN in after-hours for transfering a block of stocks from one brokerage account to another? Just wait for liquidity to dry up, setup two opposing orders, click submit and viola, instant transfer for the cost of one round trip commission (no slippage). A lot...

spike, What do you think is the effect of program trading on your own trading? Your system has been tweaked to much greater performance just as program trading became a much higher % of total volume (from 20% in the 90s, to 55% now?). Did you just figure out ways around the programs? Or...

In my case it was for sure $20k margin balance for one day resulting in $100 interest charge. The failed money market sweep can explain the problem because when it fails to return cash to my account at the beginning of a day, whatever trades I make that day will be on margin and trigger...

So how does he generate his signals? Forgive me, I know it's greedy to ask, but your post begs the question ;)

Hey spike, Why don't you start a real-time trade journal here? Obviously the skeptics will remain skeptics (you can never convince them), but at least some of us can ride your coat tails, eh?

Haha Ripley, watchout below! I hope you're scared shitless that you allowed yourself to move your stop for "a good reason". 'cause that's exactly the same as not having a stop loss at all. I wouldn't mind if my stop gets hit and I lose 2% of my equity. Even if they get hit ten times in a...

Got an update. I've been talking with Brad from MBT over email about this. He thinks the May interest charge was wrong, due to a failed money market sweep at Penson. I looked over my trading records since last Dec when I started with MBT. It appears that the margin interest charges were...

The "market" is a gigantic distributed computer whose sole purpose is for price discovery and the efficient investment of capital. Originally all its data-gathering and computational components were made from bits of organic cells, nowadays it's gaining silicon cells and that is making it more...

Having read that book, I believe Carnegie is right that you can never win an argument and convince someone of anything. What he didn't mention is that the argument itself might be picked up by some impartial bystander, and really do something for him. The bystander doesn't have his ego...

Throughout that month, I didn't use any margin except that one day where I used about $10k worth. Now I think the interest roughly matches the maximum margin used because of a coincidence. I trade stocks, holding them for 1-3 days mostly. If interest get charged between trade date and...

Now I have a question, out of all the things you can own in the world, which ones are expressly designed to make you more money? - government bonds? - cars? - houses? - corporations? - gold? - collectible art? - commodities? - forests? Anything I forgot?

You forget about the reason people invest in the first place. They invest so they can sell the shares later and spend it. - People take money out to retire - People die and a huge chunk of shares must be liquidated to pay for estate taxes - They take money out to support their charity -...

Threei, How do you know that those programs that shadow your orders do it because they know it's you (a successful trader)? I see it happening to me too when I place a limit order, and just assumed there are a lot of those programs out there that just try to steal fills from a human perhaps...

The diamond "market" is disheartening from a trader's point of view. Especially with new technology coming online imminently that makes gem-grade diamonds at any size. And I'm likely buying one before the new-tech diamonds are available. I'll just treat it like pure consumption, with the only...

I just noticed on my MBTrading account, margin interest = maximum margin used during month * monthly interest rate. For example, last month I carried a $10k margin for one day, at 6% annual interest comes out to $50. I always thought margin interest is charged on your margin use on a...

Perhaps they have access to a diamond market that we don't.

Anyone considering using diamonds as a portable store of value should read this: http://edwardjayepstein.com/diamond/chap20.htm and decide for yourself if it's true.