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Are you talking Futures? With PFOF in equities and options, I don’t think there are any regulations.

Based on your current latency, I don’t see why you need to use c++. When, and if, you get to the point of needing to reduce latency, FIX engine speed will not be your biggest concern, imho.

How did this go from an actionable trading idea to baseless prognostications?

If you are far away in time from doing HFT, why you need Lime’s execution? Would IB not suffice? Are you co-located?

I remember @cruisecontrol mentioning that some brokers do provide account level info, which he confirmed with them. I would not be surprised if that happens since whoever is buying the orders don’t want any toxic flow.

How would you see your order on a stock which is active? When I did my test I found a stock which barely moves and has wide spread. Then I would send a sell offer one penny below the best offer. I would see the order on both TOS and IB.

What is your objective? You just want to beat the index by a few basis points over long term by activity trading? Doesn’t seem worth the effort.

Well, at some point you need to draw a line in the sand and go for it. Besides HFT type of trading, I haven’t found (read about) any way to find a risk-less trade ideas. Knowledge of how options work will surely improve your edge, but I doubt very much it’s an edge in itself. We are all...

Absolutely, I explicitly stated that I didn’t want to take assignment (hence 17 delta) but if I had to, the 300 spot was an acceptable spot given how much bad news was already priced in. Could it have dropped to 250, of course, this is trading, not creative writing.

So you agree with the statement? Do you ever sell OTM puts?

How profitable is the mindset of self-proclaimed King of the Idiots?

Right, I love guys who brag about trading and when you ask them how much of their net worth they are playing with, it’s irrelevant to their lifestyle. It’s like trading on simulator where if you win you are a genius and if you loose, just press the reset button - meaningless.

Right, Lime used to allow sending messages in native exchange formats. Generally, I prefer a format where fields of no interest can be skipped (fixed length format like ouch). With FIX, I have to parse useless fields sequentially to extract a few I care about.

fIf you do HFT, FIX is not preferred and for HFT guys programming is not an issue.

Why FIX? Don’t they offer other choices?

Was your order too large compared to other levels in the book? Why didn’t you split the order into multiples and sent to different exchanges? Brokers would rather loose your business than deal with compliance inquiries from FINRA.

@JSOP , are you saying that if you send a passive order directly to exchange, it would execute but not qualify for a rebate? Are you talking about options? I'm also confused what you mean by "creating an order but not sending it" causing someone at IB to actually call you?

I agree with above. HFT became too competitive and many firms had to fold or merge to stay alive. Add to that bad PR and possible conflict of interest. Makes sense. But I suspect some of that code/functionality got moved inside IB and caused lots of grief to @JSOP :)

How so?

I would never use a service that doesn’t teach/guide you to become self sufficient. If I buy black-box system, I would like it to pay for itself pretty quickly(but understanding where the edge comes from is still a must).