Adapting to the Hybrid

[eusdaiki]

Will you care to elaborate? When I read the NMS I came under the impression that no fills where allowed outside the market... even locking the market is forbidden under NMS...

But then again it's quite a lengthy text, I might have missed a vital loophole...

 

[traderyin]

Quote from javs5150:

Instead of placing an order through the offer can one just smart swipe all the offers available on the ecns?

If ECNs are available sitting low at the price you think where the stock going to print. Yes. Take em'.

I shorted CAT on ECNs when it put out earning that day. The ECNs are pretty efficient even in hybrid

 

[traderyin]

Quote from Scalper007:

Kwancy and traderyin, thanks for the answers. It's just really awful if someone becomes a victim of such nonsense. They just decide to trade at whatever price they want at anytime they want without any warning or indication. We're at their mercy in stocks like man...

Ohh, I got caught in COO for 50 cents before. No warning what so ever. An ACRA came down 50 cents and stayed, the NYSE moved with it. You just gotta be quick.

 

[Don Bright]

Quote from javs5150:

What do scalpers average per sweep trade, .20-.40? What is the average trade size?

Depends on the program...some have a hundred orders of 500 shares, some have only 10 orders of 2,000 shares. They set their automated closings between 10-50 cents (from what I've seen)...but many "hijack" the order and take over manually.

5,000 shares a day x 10 cents = $100,000 per year...don't need much.

Don

 

[javs5150]

Quote from Don Bright:

Depends on the program...some have a hundred orders of 500 shares, some have only 10 orders of 2,000 shares. They set their automated closings between 10-50 cents (from what I've seen)...but many "hijack" the order and take over manually.

5,000 shares a day x 10 cents = $100,000 per year...don't need much.

Don

Once the lrp is triggered how do you know how to position yourself to profit from the sweep. In other words, how do you figure out which direction the sweep is headed for the quick scalp.

 

[gam1111]

What do you think Hybrid will ultimately due to prop day trading NYSE stocks?

Do you think more firms will go out of business?

Profits are hard to come by with scalping strategy.

 

[Jonathan]

Are black boxes breaking this market? Today's has FELT absolutely flat.

Or is everyone on a Holiday today or something? lol

 

[Don Bright]

Quote from javs5150:

Once the lrp is triggered how do you know how to position yourself to profit from the sweep. In other words, how do you figure out which direction the sweep is headed for the quick scalp.

The added benefit of either enveloping both sides or having the trigger is that it compares to the last trade, so the reversal takes the profit.

Program scalpers are increasing their volume, manual scalpers have been outside enveloping anyway. Sweeps are just giving us back the money we though we might lose when the "trade throughs" were replaced by them.

(Gotta hand to the NYSe, another way to insure the money is still being made with the Specialist, my favorite way to trade).

don

 

[Don Bright]

Quote from gam1111:

What do you think Hybrid will ultimately due to prop day trading NYSE stocks?

Do you think more firms will go out of business?

Profits are hard to come by with scalping strategy.

Automated scalpers doing fine, manual scalpers have been changing strategies for the last couple of years anyway (still can make money, but simple day trading has never been our style).

Don

 

[javs5150]

Quote from Don Bright:

The added benefit of either enveloping both sides or having the trigger is that it compares to the last trade, so the reversal takes the profit.

Program scalpers are increasing their volume, manual scalpers have been outside enveloping anyway. Sweeps are just giving us back the money we though we might lose when the "trade throughs" were replaced by them.

(Gotta hand to the NYSe, another way to insure the money is still being made with the Specialist, my favorite way to trade).

don

By reversal do you mean that you are fading the sweep?