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This would take a long time to go over in a forum thread. Basically, if we're talking about making markets in equities, not options, you'll need not only a co-location with direct data feeds, you'll also need sponsored access to an ECN like ARCA through a member firm. This is the only way to get...

They provide a filtering process based on the firms criteria. The process favors individuals that can write well and have a background from a large well known institution and well respected University. They will miss a lot of "better" candidates, because they will not interview them.

In a portfolio margin account, you can trade SPY with 6% to 8% margin. My firm, Victor Securities offers professional platforms and DMA access with good rates based on volume through Penson Financial. We also offer futures trading through Penson Futures if you'd like to trade both. Bob

A "pit" trader has to be able to do both. They have to be able to quote electronically, follow the electronic market away from that exchange, and be able to interact with order flow coming into the trading crowd. Often, they are also interacting with order flow over the IM. This is all harder...

Because this is not a typical trade, it requires a platform that allows scripting. Actant Extreme, allows for scripting to create trading like this. The program is expensive and requires fast direct data feeds and co-location for a server. If this interests you, send me a note and we can discuss...

Live trading adds fear and greed. Let's see if your entry/exit points change with live trading. Good luck......

What would be an example of a broker that keeps customer cash in a bank account rather than the Prime Broker's account?

Either in the forum or though an e-mail, you'll have to provide more information. I would need to know if you're looking to learn to program the strategy, or pay someone to do it. Is it High frequency and low latency, or just HF. Co-location, high speed data, high speed servers, add a lot to the...

Yes you are. In the complex order book, your spread is only represented there as one order, not two. For each execution, you have one party on one side and one on the other. Your bids and offers are NOT represented on the order books of the individual markets.

No, it can't happen. The spread is reported and traded as two independent trades, but they were not. They were done with one party based on a net value. No one can cancel one leg of the spread without cancelling the other.

Spread orders sent to the complex order books are always treated as one order, not two or more. You can't get legged from a busted trade.

Correct....As long as your broker is allowing you DMA and offering you the rebates.

Sorry, but I don't think $5K is enough money for even simple option strategies. If you're doing 1 lots on low priced stocks, your return will be killed by commissions at retail rates.

You'll have to read the rule. http://www.nyse.com/pdfs/Rule%20975NY%20Obvious%20Error%20Rule..pdf Sometimes you can't adjust. What if you're bidding 1.00 for a put trading at 10.00. On the open, the best bid on a market sell order was your bid. The second after the sale, the market goes from...

They are rare per person, but not rare per day. Many times they occur on the opening when a market maker sends out a bad quote.

I believe they are give you direct access to a list of banks that have agreed to make markets on their platform.

Rules for the NYSE AMEX: http://www.nyse.com/pdfs/Rule%20975NY%20Obvious%20Error%20Rule..pdf If you're looking for a price adjustment, you fight to the end. If you're looking for a "bust", the situation is difficult. During the time period that either side is looking for a bust, what if the...

"Chart based on a deposit of $10,000 for one year." It's a very good rate, but for a one year deposit on balance of $10K or more. That's not a money market rate. It's also not attached to a brokerage account.

If you trade greater than 10K contracts per month and are interested in the services an introducing broker can offer, please PM me your contact information. We are not a prop shop and don't back traders. We can offer you great service, professional platforms and rates tailored to your trading...

Because a long call, is hedged with short stock. So an deep ITM call near the x-div date on a security with a large dividend, would have 100 delta. Now, if I'm hedged on long 50 calls, I'm short 5000 common. That is a synthetic put. If the dividend is coming up and I want to maintain my...