Search results

Bryan Roberts, There is a complete list of direct access brokers on Chris wheeler's website DayTradingStocks.com at www.daytradingstocks.com/daytradingbrokers.html . There is well over 100+ direct access brokers. If a firm is not mentioned in Elite Trader, this does not mean this is a...

noddyboy, L.L.C.'s generally do not take customer accounts. Contact each individual L.L.C. for their membership & capital contribution requirements . Gene Weissman Lieber & Weissman Sec., L.L.C...

Just a note on matched pair trading. If you are a matched pair trader with 100k in capital, it would make alot of sense for you to trade at a trading L.L.C. You could get 6 to 1 margin in approved matched pairs and a low per share rate. There are several Trading L.LC's including Van...

Direct access order execution software(as we now know it) , with ECN's and an all in one order excution platform began around 1996. The Direct Access Broker that has an All in One order execution platform started around 1996. Lieber & Weissman Sec., L.L.C. offered one of the first all in one...

They are a Chicago based L.L.C. and are a very legitimate firm. They clear through PAX clearing. They are a well established L.L.C. and have been in business over five years. See their site at http://www.vbsecurities.com/ . Gene Weissman...

Just a note on Direct Access Retail. The $25,000 dollar minimum for pattern daytraders has hurt the direct access retail business. .01 spreads & "bear" market has hurt everybody. Part-time daytraders have left the market and there is going to be a continued consolidation in direct acccess...

airspeed, I think the "better" execution on the NYSE for small orders, may have to do with the NX route or the fact that the NYSE is trying to gain market share in ETF's(volume). Believe it or not some of the same people that were specialists or market makers in the QQQ's & SPY's on...

The example was BBH this morning pre-market. During the day the BBH is liquid, but not as tight as the SPY or QQQ. When I say trade smaller size I mean if you are comfortable with 3000 SPY trade, you might only trade 1000 BBH. If you look at the BBH book on your screen , it's not as liquid as...

Just a note. Trading ETF's on ISLD is fast, however you will give up price improvement-for speed. There is no price improvement on ECN's. Many times you will get price improvement on QQQ,s & SPY's on AMEX & NYSE. I know many do not like the "slower" speed & many think the specialist is "cuffing"...

Just a note on ETF's. The liquidity of exchange traded funds may vary. The most liquid are the QQQ, SPY, DIA. The Biotech Holders (BBH) , while a volatile ETF , do not have as much interest as SPY or QQQ and can be quite illiquid at times , especially in the pre & after markets. The wide...

Just a note. The reason there are so many "snake oil" type merchants and proven "trading systems" for sale is because being a successful trader is very difficult , and most traders are trying to find the "holy grail" for success. Successful traders trade and make a very good living trading. The...

Just a note. Trading Options on futures(I assume you mean Long premium & spreads) would be considered a high risk strategy ,and probably not suited for IRA's , KEOGH's and other retirement accounts. I do not handle customer accounts and I am not sure this strategy is allowed. The only option...

ShortIgnorance, I know the question was asked to Don, but in general if costs are reduced for clearing firms(SLK,PAX), they are not necessarily passed on to the firm(Bright,LWS,ECHO).The economies of scale work for volume traders who joins a trading firm and I think the rates are fair at...

ShortIgnorance, Bright , ECHO and LWS will give traders rates of .01 per share. If you can't make money at .01 per share, at what rate could you make a living? I can only speak for myself, but if I run a business , I'm not required to break down every cost or fee I have to my...

Have a great weekend to all. By the way, Tony OZ-I agree with you 100%, you can now trade at home-systems, connectivity has gone down in price. I will say this however, for true professional traders, I like the L.L.C. structure- there is no "margin" calls and if you can trade matched pairs...

Well put Robert Tharp. Most of the price improvement is having your 1000 share or less order matched with large institutional orders at a "centralized" market place. Does the specialist sometimes Bid or Offer .01 ahead of you? Sure, but if you do trade NYSE you will get noticeable price...

freehouse, Thanks. That site looks very interesting and if we have any traders who use excel and want option software I will pass it on to them. Gene Weissman Lieber & Weissman Sec., L.L.C...

stock777, (Example) Very often at the end of the day the specialist may have a large seller or buyer. Say the market is 30.70Bid X Offer30.90 . If I put in a Mkt order to Buy or I put in a Buy order of 1000@ 30.80- assume all these orders are put in at 3:59:50 . The specialist puts...

esc_trader, If the market is 50.20Bid X Offer50.30 and I send an order to Buy 5000 GM at 50.30, I might get my order completed a at 50.25 by a seller(floor broker) in the crowd or the specialist. NASDAQ is a fragmented market and this will never happen. The example I gave is a...

For many traders NYSE is the place to trade. If you trade NASDAQ, the NYSE seems like it's trading in slow motion. The NYSE offers increased liqudity, lower volatility(most of the time) and price improvement using limit & mkt orders. Most top traders in our firm trade only NYSE. I do have...