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clearing services are fungible. it's like making a local phone call. how much does it cost the telephone company to complete that call? Throw on a <i>reasonable</i> risk premium, and you have your costs.

so what does it cost a self clearing firm to match the trades and print them to a file?

it's time for clearing rates to reflect the real costs of the service provided plus a reasonable profit and a reasonable risk premium. i have a hunch that the clearing infrastructure was paid for a long, long time ago, especially for NYSE business.

Are you saying it's a Bone of contention? :D It's a joke, that's all.

often the moc prints are substantially away from the last prints of the "day."

Maybe, but, that's not the market I know. You might experience slippage evenly, but slippage often goes with the trend. So if you're closing out a long on a downstroke slippage will probably work against you. If you're long in an uptrend or short in a downtrend, slippage may cancel out...

There are some who conclude that anyone who blows up, that is, anyone who is subject to the randomness that Taleb talks about (and every experienced trader is keenly aware of) is incompetent. It's easy to think that way before one's first major 'surprise.' It's worth saying again, I think...

shneed -- i want to read what Taleb has written because I have an interest in the nature what we think of as 'randomness.' But the article was a cut at Dr. Niederhoffer, and that probably had nothing to do with Taleb. Most the criticisms of Dr. Niederhoffer made on this thread ran the gamut...

I do not think so.

small timeframes are tough due to the tendency for randomness to increas as time horizon decreases (my observation). I have concluded that patience is essential.

before they shut it down? are we not suppose to talk about commission costs, fees etc?? If that's the case i assume this is run just to promote a few firms. [/B] I just figure it's only a matter of time before digging into this subject irritates someone who has a lot to lose if real...

the question is, will your clearing house let you keep what you make. At least, that is the question for me.

I'd be interested in what you think about this: http://www.elitetrader.com/vb/showthread.php?s=&threadid=5942 I don't think clearing costs the provider anywhere near as much as we've been led to believe. And I think the industry is in for a rude awakening, since, the way I hear it, a good...

the last thing i have to say about this debate is this: The guy took risks. They wowed him when he was winning. Now the new generation of turks dances on the news of his failure. Dance on. He's probably still trading. Monday morning quarterbacking never paid well (except for talking heads).

<i>"After 40 years as a pit trader, I've known hundreds of good traders. I believe that the common denominator among successful traders is an athletic background. Knowing how to lose and come back is the most important factor in trading....."</i> Herny S. Shatkin Shatkin, Arbor, Karlov, & Co.

That's probably a rhetorical question but may I answer it anyway? And please don't think I'm being sharp, I can't think of a better way to say it just now. I think you have an obvious prejudice. thank you for allowing me, in your concept of a democracy, to post according to the dictates of...

Time and chance happen to them all. -- Solomon. The lot is cast into the lap, but it's every decision if from the Lord. -- Solomon.

He said that? He just went up a few notches in my book.

well, we all want to be as sharp as europeans.