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If I wanted to hide my order, I would rather use a DARK pool. I have customers trading low volume symbols that prefer Dark pools and high volume larger accounts that prefer Dark pools to getting in and out of larger orders. I have no opinion on when DARK is better. I would not hide equity orders...

Most Option orders are sent to a designated Market maker (DMM). They decide if they want to trade with you, post the order and what option exchange to place it on or print it. If you have the choice to choose an option exchange, those orders are still typically sent to an DMM. Placing hidden...

Our STOP and STOP Limit equity orders are held at EDGA not on the local software or our servers, so very fast. They are only active during regular market hours. Even though Latency is VERY low, if you are trading volatile symbols, these type of orders often have real slippage because the price...

I think that makes sense. I seem to have the only negative opinion on back testing and paper trading. I can live with that. IMO, back testing only rules out strategies with low expectations. But to test out a strategy when you know facts about the past can be self-serving. And paper trading...

BlackPhoenix- Are you saying "order slippage" is the delay you get from the stream of market data? And, how do you define "the price at the time of the order." Is that last sale, Bid or ask?

In the last 12 years that I have been in sales, I have seen a fair number of nascent managers trying to build a track record using back testing and paper trading accounts. I have never, and I mean never, seen real returns later from real trading that comes close. Even a systematic system does...

Slippage is not defined as the mid point. Slippage refers to the difference between the expected price of a trade and the price at which the trade is actually executed. If you expect to pay the ASK and you do, your fill was not slippage. I also find it hard to believe that 100% of the trades are...

I do not think so.

I have worked with a few automated HFT firms putting on larger positions for either for a few hours or a few days. They do extensive testing to determine the best way to get in and out with the least amount of market impact. The path is going to be different for each strategy depending on size...

Don't hold short call ITM with Dividend paying stocks.

I find that early assignments are very predictable. With ITM short calls, they most often occur before a large dividend that exceeds the cost of carry + the value of the put on the same strike. Or, if the symbol is VERY hard to borrow and part of a Threshold list. In either case, owning the...

As a US person, may I ask why you choose a foreign broker?

I understand the concern and how it looks. IMO, reality is a little different. The place you put your stop to sell might be a new low, a break down price, a price below heavy volume, etc....When a few thousand day traders place stops on or about the same price, you can't blame a MM's system from...

It is very NY Post of them to use the term "Rigged." I'm not a big fan of PFOF but you need equity and option market makers to add depth and liquidity. Without them markets would be very wide or there can be no market at all. My biggest issue with market structure is the fragmentation. IMO, 16...

We are doing a webinar today. I will post a link after the recording is available.

The TrendSpider Elite Plan is standard $79 per month, and we will offer to our clients for $30 per month (62% off) upon request. https://lightspeed.com/trading-platforms/trader-tools/trendspider TrendSpider TrendSpider is an award-winning, charting and technical analysis platform. TrendSpider...

That was not my intent. As others were doing, I was saying what I do and what is important to me. Everyone should search for the tools they need. And most of what you say and do is "unknown" to me. Same with sle. I never claimed to be the smarted guy in the room. I'm good with that.

I assume if all your orders are going to that one exchange, either their system expects more fills or the DMM they use has the lowest cost of execution at NYSE ARCA.

NYSE ARCA did the most volume Friday on Equity/ETF option volume.

What indexes trade on PSE, which I assume is ARCA? Do you mean Options on ETFs?