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Sorry if I missed it, but I was asking regarding a specific case you described where you are stopped out and then double or triple the position in the opposite direction. When you just entered three times the regular size and position moves against you, are you still allowed to keep adding as...

In the above situation, are you still allowed to scale in if it moves against you?

I'm not sure why OP limited the problem to flash crash only. That was before the limit up/down bands were introduced for stocks. But the concern is real. If you only trade with small portion of your account, you might as well trade options. If you are maxing out your BP, you can blow your...

I think the problem with all this for day trading is that stops are tight and positions are large (relative to account size). I don't see how anything can protect you within a day. So the only solution I can think of is to day trade prop money. Think of the split as paying for the hedge...

You can't assume anything. In a news event your stops may be triggered when price is far away from your stop. That's why stops are not very effective (as protection) and oftentimes it's just better to either wait or try to work out of position. This is just part of trading.

I am not sure if it's what @nooby_mcnoob meant, but I was thinking that if you establish such bracket with 30 DTE or so, you can use it to day trade for a month as long as stock is not moving outside of the band. This would work best if you trade same set of stocks.

What would be acceptable deltas of short strikes in your example? Isn't that a critical piece of info? Thanks.

I don't agree. Everyone is affected. What he is saying is that routing using SIP is not good enough for his orders. Ask your broker if it's good enough for their clients. It's a huge cost for them to route using proprietary feeds, so they send your order either to PFOF or to a never never land...

So hardly a "blow" to primary exchanges.

Just to be clear - MOC supposed to guarantee fill.

Because, unlike the auctioning exchange, CBOE may not modify the closing price. So if CBOE received 1m buy and 2m sell shares, they can cross 1m at closing price. What will they do with the other 1m sell shares?

So in case of cboe has imbalance, unfilled orders are cancelled back? So I send MOC at 15:35, can't control price nor fills. No wander SEC approved it.

I don't think you can play this game unless you are colo'd and receive(and consolidate) all full depth books. You will need a broker that will allow you to submit "thousands of orders" resulting in few or no fills. The costs will most likely render your strategy unprofitable. It's safe to...

That's not my understanding, but I hope you are right. Regarding IB loosing 80% business - no way! Their API is so entrenched that it would take millions for customers to rewrite. And, ironically, the worse the API the more difficult it is to replace.

Are you saying this is no longer the case and it's open to all?

I think his reply was general, not specific to wheeling. That's the only reason I replied.

Question to you. Unless you are buy-and-hold investor, don't you think there is still skill involved? Especially with options, where timing makes a huge difference, there is got to be skill involved, no? Maybe similar to a swing trader but more difficult due to timing constraints?

Ok, understood. Below maybe a good place to start using python. https://info.cloudquant.com/products/#freelancer

Do you want to become a trader or quant/researcher/algo-developer? Learning how to code will not make you a trader, imho.

Interesting article. What if Amazon rents a couple of racks in Aurora and/or New Jersey to provide low(er) cost colo? https://aws.amazon.com/blogs/aws/aws-outposts-now-available-order-your-racks-today/