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What 3rd market? Who would take the other side of large orders from Morgan Stanley unless they could arbitrage it?

Notice ... To they are freaking out over who told, not how this happened! Arrogant sobs. https://nypost.com/2018/12/07/nyse-is-freaking-out-looking-for-leakers-after-post-expose/amp/#referrer=https://www.google.com

HFTs? Dark pools? Nah, same old NYSE. https://nypost.com/2018/12/06/ny-stock-exchange-let-morgan-stanley-make-after-hours-trade/

I don't have an answer (nobody but you does), but I struggle with this too. I think when we spend so much time and effort but making insignificant money due to account size, there's a very strong urge to bet it all to make a dent in the account. We want to see(show to someone as prove?)...

Beautifully written piece that every beginning trader should carefully read and deeply think about. Enjoy and comments are welcomed as usual.

How is this even possible? Maybe some exchanges can do this, but not all?

These stats look "too good" to me. 80% win rate is market making kind of stuff. Avg win == avg loss == MFE == MAE. Maybe the risk profile of your strategy is the problem, not psychology? Just thinking out loud, not a criticism.

I'm not following ... You make money on sim but not live? And you have stats for both. So you are saying you know why but can't help it?

TA is mostly a self-fullfilling prophecy, imo. So I want to see what others see and either join or fade. I see you can set up chart alerts, which is nice feature. Take it back :)

Can you stop typing at the speed of light and intelligently explain for what reason you want people to move limit orders around? We don't know what kind of trading style you have that you have multiple limit orders layered in the book and need to constantly move them around. Since there are no...

BTW, i had similar problem with left over odd lot. Spread was huge. I was constantly updating my order to be displayed as best offer. I was slowly walking down by a penny. Finally, someone (MM) just took me out so I don't interfere :) That was a bit unpleasant.

Yes, Odd lots are not protected, but unlikely to be filled at worse price during regular hours. Actually, there is no protection after hours even for full lots. Also, the BBO is normally displayed in full lots, so 199 shares would be displayed as 1(one) lot, so even if you executed against it...

Lol ... You can do all that at the speed to match hfts!? Are you renting a desk in Aurora DC? You funny, man.

Here is what I would build like for myself. The goal is to have full control end-to-end. 1. Colo at NY4 (need to be as close to data as possible) 2. Data feed (raw would be best, but at the least streaming ALL symbols like polygon.io) 3. GUI - MotiveWave or some basic Java Based windows...

If you need something done right, have to do it yourself :) Or just settle with good enough :(

https://www.bloomberg.com/professional/blog/trading-algorithm-types-and-the-best-time-to-use-each-one/

What do you think about this? Infinitely more money involved, yet no spotlight on this industry. How convenient to find a scape goat to divert attention. Dirty Little Secret No. 7: The Long Game What do you get when you take a bunch of powerful, well-lobbied retirement plan companies with...

Replace the word Hft with "Wall Street" and he nailed it. If you think it's unique formulas that makes money for big players, you are naive. Just my opinion.

Fair to whom? Nothing is black and white. There are basically two types - liquidity takers and liquidity providers. Let's say you want to protect providers. So when you send the order to take liquidity, the liquidity providers will be given a chance to re-price/pull their quotes. Is that...

I think you are just talking to yourself at this point, so I'm out of here :)