Thanks, but unfortunately, I'm not using rediplus for the time being. Is there any other way to tell when sweeps are starting and ending?
Adapting to the Hybrid
- Thread starter JGTrader
- Start date
Thanks, but unfortunately, I'm not using rediplus for the time being. Is there any other way to tell when sweeps are starting and ending?
Cancellation fees for equities? Oh god. I'm sick of the f*ckin nyse. They keep on coming with new ways to screw the little traders. Who cancels orders the most? Day Traders! I cancel 2 times more than I get filled. It's essential for me. I can't believe we're just sitting here and laughing about this and hoping that somebody will take care of us. Nobody will help us. We gotta help ourselves. We gotta form some kind of an organization and fight back. I swear, we traders are the most vulnerable people who accept anything they throw on us and we have to "adapt". The nyse make tons of money off of us and we have no say in anything????? The sec makes tons of money off of us and they work in favor of the nyse and approve everything they ask for! Come on take a stand!
Scalper007
You are tollay right Scalper 7.
All of them, are just lazy to do the work they get
paid to do. This is why we must computerize the industries.
They can't keep up with order flow, times have change.
They can't do or fine the time to do there screwing everyday.
They have two books, them on one side and the little traders
on the other side.
This is how they RUN the market to get us out. This is just for
a short time and price's then come back.
First $25,000, now cancels orders.
The nyse make tons of money off of us and we have no say in anything????? The sec makes tons of money off of us and they work in favor of the nyse and approve everything they ask for!
HOW ABOUT " IRS" you missed that one!!!!
Im with you and to all investor and traders who make up this
great american business that began back in early 1700's.
If it wasn't for daytrade's and investor there would be no Markets.
trade well, my friends.
perr
You are tollay right Scalper 7.
All of them, are just lazy to do the work they get
paid to do. This is why we must computerize the industries.
They can't keep up with order flow, times have change.
They can't do or fine the time to do there screwing everyday.
They have two books, them on one side and the little traders
on the other side.
This is how they RUN the market to get us out. This is just for
a short time and price's then come back.
First $25,000, now cancels orders.
The nyse make tons of money off of us and we have no say in anything????? The sec makes tons of money off of us and they work in favor of the nyse and approve everything they ask for!
HOW ABOUT " IRS" you missed that one!!!!
Im with you and to all investor and traders who make up this
great american business that began back in early 1700's.
If it wasn't for daytrade's and investor there would be no Markets.
trade well, my friends.
perr
It would be nice, but it would take some serious coin to take them on. It would be better for us to all start recording our L2s looking for specialist manipulation, then go to the sec and make the specialist prove the existence of the voluminous floor traders he claims always place orders that dont get filled but just change the quote long enough for the specialist to price improve himself.
Of course we know it won't happen, but we can dream.
Hey, if the NYSE wants to drive out all the daytraders, the very traders that provide liquidity and allow large institutions and funds to liquidate their positions, its going to come back and bite them in the ass. As daytraders, we are looking for edges and opprtunities to fill our pockets but take those away, charge fees up the ass and make our lives hell, we'll just go trade other markets. I've got no problem with that. The risk/reward has to be there but skew that to a point where its not worth it, then f*ck em.
Who's gonna provide liquidity intraday then? We'll let them worry about that!
Who's gonna provide liquidity intraday then? We'll let them worry about that!
Does anyone here really cancel 9 times more orders than they get filled on? Unless you put in tons of fake size trying to push stuff around I doubt this would really effect anyone.
I trade about 400k shares a day and I think my cancels outnumber my fills by about 2:1. Things couldn't be that much different on NYSE from Nasdaq.
I trade about 400k shares a day and I think my cancels outnumber my fills by about 2:1. Things couldn't be that much different on NYSE from Nasdaq.
Call me crazy but I think all day traders should boycott the nyse for one week. Then we can show them how powerful we are collectively. Without us, the sec will lose tremendous revenues all of which are free money. They don't do squat for us with the money they charge us. We gotta show them pain. But how many of us are up for that?
We are speculators and a market cannot operate without speculators. Above all, they need us for their revenue stream. We are more powerful than we think we are but only if we act collectively.
We are speculators and a market cannot operate without speculators. Above all, they need us for their revenue stream. We are more powerful than we think we are but only if we act collectively.
The computers that flocked to the NYSE once Hybrid went into effect, who else? They don't need a seat, a computer, a mouse, a coffee machine, a bathroom an office, just a programmer and a backer. That's where Goldman Sachs comes in.
Daytraders are not needed for liquidity, the computers are more than ready to provide it. NYSE volume has been rising due to an excess of daytraders, HFT hedgies, black boxes, etc. Most of this daytrading population is just excess, consider that NYSE has been around for over 100 years with minimal "daytrader" involvement. In mid 1990s, the daytrader population was miniscule in comparison to now.
A certain fraction of daytraders are not going anywhere, like you. Also, there is no sense in eliminating every single daytrader, gotta keep the new hopefuls coming to keep the leverage wheel turning and the commissions churning.
It happened with Nasdaq and there was no liquidity crisis so why would it be different for NYSE? They took the cash cow and sent it to the butcher.