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The members wanted him to resign to protect the monopoly and specialist system. Do you think the exchange members are going to let anything effect the seat value.

in the odd lots section of the 8/21 issue of the traders bulletin there is a link to info on the liquidity quote..follow the links and watch a 6 min video from nyse http://www.traderbulletin.com/

I have to agree with praetorian2..if we choose to play in this playground, then just deal with the playground rules. I can't imagine trading and having to worry about a penny causing me angst. I am not a size trader at all, but I think if a penny is that important to your trading strategy you...

javaboy, I used to ride the train everyday with specialist clerks and would from time to time get to see the daily p/l...and guess what...they always made money on the 2nd or third tier stock as you call them. You have to remember the best trader in the stock for obvious reasons is the...

I use intraday charts, but I see the wisdom of what Oldtrader is saying everyday...yeah there may be no secrets in buying pullbacks, unless the tide is turning or has turned which will show up in Oldtraders indicators..but maybe not in the intraday chart you are trading. Like I said I use...

EXactly Brandon...I remember a drug stock a couple years ago,LLY I think...It was trading at is high for the day momentum was excellent and daytraders were pushing it...boom halted..FDA ruling...opens down $10...probably wiped some daytraders out.

NihabaAshi, I think what your talking about is what Traderkay( I think it was traderkay) refered to as SOMP( seat of my pants) indicator. This indicator can only be derived by trading the pattern many, many times over and over and throwing out a good prtion of the patterns. Similar to Gary B...

IGT

heres the part... Market Orders When a liquidity bid is published in addition to a best bid, a market order to sell of a size greater than the size of the best bid will be executed to the extent possible against the best bid (or the order will be crossed by the specialist when he...

If you keep on reading way down in it gives an actual example using prices and states that the specialist can still give price improvement.

I agree with most that the market is tough, but not to the point you can't make money. Its the type of market where good old fashioned tape reading still works. Its been done for a long time and probably won't go out of style anytime soon.

Brandon do you have any thoughts on the filling or not filling of gaps after an NR day..is there a notable difference? How about after a WR day ?

conversations I had with the specialists assistants from SLK ( I rode the train with them for 2 years )was that the flow from the "crowd" was the major factor in the prints. When they have a size buyer or seller in the crowd they weren't as big a force without having to significantly increase...

Let me give an example of a typical trade....a trigger his hit letting me know a setup has now formed..i use a 5 min chart for entry..part of the setup is range expansion in the last bar printed. I am looking to enter on some retracement of the range expansion but there is no guarantee that a...

Alot of my trades are made on a retracement to a certain point so I find myself constantly second guessing myself as to scale in or just put on my whole position at once. When price is approaching my indicator I feel confident in putting on my whole position in one spot, but if price continues a...

tape reading takes time to learn and each specialist moves his stock a little different...try thinking more like a floor broker on the exchange filling an order for a client...you are trying to buy at the lowest avg price and sell at the highest avg price for your client..so if you have a big...

don't give up if you truly love trading...if you feel you are close hats great because you still have some confidence..you need to be confident that you can trade profitably. When I went throught tough times I tried to just simplify everything and become much more selective and not take the...

You are right about the gap ups for sure..no 10 pt gap ups these days..but the gap downs can still be pretty big. First of all I'm not trying to argue anything...just don't like to see someone put down daytrading just because it doesn't suit them. I read all the posts from swing traders...

Why not daytrade??...to each his own right...I like the thought of knowing on a big gap either up or down I'm able to trade with the specialist(who by the way are daytraders). I also like the freedom of starting each day fresh not having to manage trades that were blindsided by some news or...