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He's with teachmetotrade.com. I think he's currently pretty busy putting the finishing touches on a new version of the Tradeseeker realtime scanner (formerly Pristine ESP).

I've been trading with IB on a daily basis for one and a half years now and if you define "going down" as a full system outage on their part (i.e. their servers going down precluding any order entry) then that's only happened once during all that time and the problem was resolved within 30...

As stated earlier on this thread, IB has globally disabled all active routing functions of ARCA. So even if they don't flag orders as IOC that BEST_ECN sends there those orders are never preferenced anywhere and are automatically rejected if they can't be filled from the book.

That's basically how BEST_ECN works. Your problem was most likely due to the technical difficulties that ARCA experienced which prevented it from responding to your cancel request. This particular case does not seem to be a problem with BEST_ECN but would have happened with any other broker as...

> If i consider trading 50 shares of nasdaq stock all the > time, will i have problem getting filled ? Except in highly liquid stocks you will have problems because your quote won't be visible to the broader market and many ECNs don't accept odd lots. Why not trade in 100 lots in the first...

The discrepancy with NYSE stocks are likely due to IB's feed only reflecting NYSE quotes and prints while mostother services will aggregate quotes and prints from the NYSE as well as all the regional exchanges and Nasdaq Intermarket. IMO since you can't execute against anything but NYSE anyway...

This problem was fixed a while ago. Unfortunately, IB went way beyond what was needed in the process by crippling those ECNs functionality instead of simply sending IOC orders. ARCA NOW does not have anything to do with IOC, it's ARCA's implementation of a BEST_ECN type routing. There in fact...

The reason why trading odd lots on the NYSE is no longer possible with IB is that some people took advantage of the special treatment that is afforded to odd lot orders. Scalping with odd lots allows you to pick off the specialist and therefore is prohibited by exchange regulations. It seems...

After hours and in the pre-market session the uptick rule is not in effect. IB's ECN quotes seem to have been changed recently not to show odd lots. There's lots of people after hours that don't seem to have quotes or access to all ECNs thus causing prints outside the NBBO. This problem seem...

I think what you're missing is that trading on the NYSE is about more than just you and the specialist. It's not like the specialist participates in every print, the majority of prints are crosses between customer orders. And when you're talking about fairness in terms of price it has to be fair...

This is simply about the mechanics of a market order. If you submit a market order on the NYSE you are due an immediate fill at a price that can be accomodated given the demand/supply equation in the stock at that point in time. It's the specialist's task to maintain an orderly market and...

The reason that stocks that are being added to the S&P500 often ramp towards the close of trading is that lots of index funds track the index and need to have adjusted their holdings at the close at a price no worse than the closing price. Since they are passively managed those funds are...

To add to qwik's response: By definition there cannot be any out of market executions on the NYSE. The NYSE is a centralized continuous auction not a fragmented OTC market like the Nasdaq. As such price and time priority are abided by at all times. These characteristics can be construed as...

Why express an opinion on things that you obviously don't have any experience with? Pressing the bid is often a very effective way to get filled on shorts even in rather steep downdrafts. And decimalization has enhanced its effectiveness considerably because people are much more willing to...

You cannot use ARCA/REDI to hit anything anymore except orders on their own books. All marketable orders without corresponding liquidity on the internal book are rejected. As for their short list, in my experience it is excellent for NYSE stocks but at times spotty for some Nasdaq stocks.

This used to be possible by using REDI or ARCA until about two weeks ago when IB decided to take that functionality away from their customers by disabling all active order routing features of those two ECNs. If you use BEST or BEST_ECN to enter a short sale on a downtick IB holds back the...

E-minis are free until September when the CME will start imposing a $10 per month fee. Their data feed is very fast and reliable in my experience. For Nasdaq they don't go through a third party vendor like S&P Comstock (as e.g. quote.com does) but receive direct NQDS and NTDS feeds from Nasdaq...

limbo, daytrading is not an invention of the 90s. There's been daytrading every since there's been exchanges. The space may be more crowded now but as long as human psychology doesn't change the principles of tape reading will stay the same.

There seem to be vastly differing practices in how daytrading in cash accounts is handled by different brokerages. Some don't care while others will threaten to close your account. I always thought it depended on the exchange member status of the broker since there is an NYSE exchange rule...

praetorian, I own both of them but so far have only had the time to read the first one. Most of what's in there is still valid today. Many of the points made served mainly as a confirmation of my own observations, however, I'd still recommend it as an interesting read even for advanced NYSE traders.