350 million shares traded at 11 30 with vix at 15.6

Quote from Casey30:

Constantly belittling something because you can't handle it doesn't exactly make it a bad thing. In trading the markets it is one's own fault for failure, it is not the markets, it is not the specialist, it is not the instrument, It is the individual trader. Until that is recognized, it does not matter what you trade, you will most likely fail.
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Hmm ok. I was short a stock in the 90s. I sent 100 shares short to add to my position of 300 shares. I had other profitable positions I had to close out so I was watching like 5 positions. Not even a min later, I see that short position go from +200 into heavy red and dropping. That 100 share short I sent in got filled at 17. My average cost ended up being 57. As soon as that 100 share lot got filled, the stock RIPPED to the point where I could not cover till almost a point out of the money. The price did not even go up, it simply changed from 17 to 80 and then just ripped.
Forget NX and limits, only way to cover this was send a market order and watch it be held. I lost almost 400 on that trade.

Luckily I had some other great shorts so I made some money for the day. But that short fill and the tiny volume rip was one of the biggest abuses I have experienced to date. On a fucking 100 shares, taken 80 cents down.
Please explain how that's my fault. Sounds to me, I'm wasting my skills when I pick great trades, just to get screwed on order fills, order flow and what is nothing more than price manipulation.

Ever have your short order locked as you are canceling, watch the stock spread down 40 cents as you are banging on the cancel button, watch the stock print a new low, lock in and print your short along with others 1 penny up and then spread right back up 40 cents? I'm guessing not. I had that done to me yersterday. Ever have a print done just for you and a couple other traders 50 cents out of the market. I have, I lost half my profit on that trade. So thats my fault how?

I don't care whether you are profitable or not, the specialists abuses COST MONEY & PROFITS and quite a lot. They cost me quite some during my good months, even more during the bad ones.
There is no ifs, ands or buts about it. If you like it, well you are stupid then. I don't like giving away my profits on factors like abused order execution. And I certainly don't like losing more than I have to when I'm om the wrong side. If I make a stupid trade or do not cut my losses, that's my fault and I blame myself. But I'm not blaming myself when I'm on the right side, calling the right move but losing money on the abused order execution.
 
Just as a FWIW, lately I'm seeing good fills at the NYSE on limit orders. Probably 60% of the time I get better than my limit. Don't remember when that's happened before.

On the Naz I very rarely do better than the limit.

Good trading to all.
 
do you try to pay 98 for 100-200 shareswhen the stock is 72 offered and are happy when you get filled at 74 because you are a very astute user of nyse openbook?......is that a better fill?.......puuuhleeaase..i.......is that you?.....i was wondering who that was.


grimer11
 
do you try to pay 98 for 100-200 shareswhen the stock is 72 offered and are happy when you get filled at 74 because you are a very astute user of nyse openbook?......is that a better fill?.......puuuhleeaase.......is that you?.....i was wondering who that was.


grimer11
 
do you try to pay 98 for 100-200 shares when the stock is 72 offered and are happy when you get filled at 74 because you are a very astute user of nyse openbook?......is that a better fill?.......puuuhleeaase.......is that you?.....i was wondering who that was.


grimer11
 
Nope. Not me. I only trade stocks that are priced between $2 - $40 and the position sizes from $4k - $8K. I only trade with limit orders via an automated system.

Occasionally I do get partial fills, like 125 shares of a $3 stock when I wanted 2,000 shares. Is that you? If it is, stop throwing out that small-time oddlot crap. It's embarrassing!

:D
 
Quote from pisspotpete:

Just as a FWIW, lately I'm seeing good fills at the NYSE on limit orders. Probably 60% of the time I get better than my limit. Don't remember when that's happened before.

On the Naz I very rarely do better than the limit.

Good trading to all.
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I hate to break it to you dude, but NAZ has no price improvement for the purpose of being a more efficient market. NYSE price improvement is great on the right side, but the real reason behind it is price manipulation, setting off stops and shake outs. So when you see a stock down 7 points for the day and you think, wow look at the opportunity, that is because the stock moves in 20-50 cents increments with "price improvements". Yeah try getting short that and watch the price improvement rips in place. While some do cash in on the price improvement (I do all the time), do not forget that most are getting badly screwed just because the specialist holds & locks their orders into the spread so that he can fill the opposite side and bring the price right back.
 
Quote from Casey30:

NYSE is not bad at all. If you can no longer trade it, maybe find something else to trade that will make you money. Constantly belittling something because you can't handle it doesn't exactly make it a bad thing. In trading the markets it is one's own fault for failure, it is not the markets, it is not the specialist, it is not the instrument, It is the individual trader. Until that is recognized, it does not matter what you trade, you will most likely fail.

Last time I checked Naz volume has been light also. I know plenty of people that are making money on NYSE. I also know plenty who are making money on Naz. Most people on Nyse, including myself find it somewhat difficult to trade Naz, while some others who trade Naz proficiently find it difficult to trade NYSE. It all comes down to what you are used to trading. There are stocks moving in both markets everyday, it is the traders job to find them and capitalize on them.
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Casey,

I am not a very large trader but from my viewpoint, (working and trading inside a broker dealer) I totally agree with your analysis.

I try to exploit opportunities, wherever they occur, (I trade mostly NAZ but am short the YEN currently too) and look to improve my own personal area's of weakness that are still limiting my trading(mostly mental mistakes and emotional weakness). I still find opportunities in NYSE stocks but "pick" my setup's. I appreciate your comments.

rttrader1 -
 
this "earnings" and triple witching week action is the sorriest market I have ever seen.......It is unbelievable.......my trading room 1/3-1/2 filled of 180 person capacity is quieter than any library I've ever been in......Im doing well , but am growing ever more pessimistic about day trading firms being able to survive these volumes.......my volume is down 80% year over year (part of the reason for my improved net performance), and I really dont ever see any uptick in market conditions coming.........does anyone believe things will ever improve even for an hour?


grimer11
 
NYSE has become a joke. Bunch of fucking wimpy traders that are too afraid to let a stock make even a 10 cent move. Pathetic trading for the most part.
I'm having a great day cause I got lucky today and only lost 100-200 to the specialist jerk around. Others arent having such luck. Today is much better than the average trading day over the past 2 months but for earnings week this is not impressive at all. I used to make money during lunchtime, now I abstain from any lunch trading because it has become a losing game.
If you like trading for pennies, NYSE is perfect for you.
 
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