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AMEX order execution
- Thread starter m22au
- Start date
i tend to agree, they seem to be trying to scare off any trades with expectancy. i know i can squeeze out net profit there, but i'm rapidly learning the vast opportunity i thought i saw in a clean trending stock doesnt really exist.
i can either slow the strat down to minimize the number of transactions to where it basically becomes an investors bet, or move on to some of the less enticing eq curves on some of the more liquid ishare issues. the amex is a crappy organization either way, i'm considering documenting and submitting my experience to the sec.
the quotes are absolutely not firm, it's a joke. apparently the amex help desk doesn't even investigate unfilled mktable orders until they've sat for at least a minute. so the guy has a full minute to 'adjust his quote'. yeah right
one silver lining has been the helpful explanations and attitude on the IB trade desk. been having a very good experience with them
being new to stock trading, i'm amazed exchanges are allowed to trade this way. globex never looked so good
i can either slow the strat down to minimize the number of transactions to where it basically becomes an investors bet, or move on to some of the less enticing eq curves on some of the more liquid ishare issues. the amex is a crappy organization either way, i'm considering documenting and submitting my experience to the sec.
the quotes are absolutely not firm, it's a joke. apparently the amex help desk doesn't even investigate unfilled mktable orders until they've sat for at least a minute. so the guy has a full minute to 'adjust his quote'. yeah right
one silver lining has been the helpful explanations and attitude on the IB trade desk. been having a very good experience with them
being new to stock trading, i'm amazed exchanges are allowed to trade this way. globex never looked so good
Quote from jimrockford:
Does anybody trade the AMEX profitably? I doubt it.
I do. In fact, it's where I make most of my $.
Avid, all the ETFs are hard to get a fill on through the specialist if he's at the NBBO.
I'll see them back away from their quotes often but the fill I get is where their quote is or better (or I'll sometimes I see it go off time and sales).
To the original poster - 20 seconds is long but not aweful. The other day I sent a market order to him and I watched as the stock dropped 60 cents before I got out... Luckily it was only on 100 shares but it's all part of the game.
sorry i sorta hijacked this thread. just to follow up, i haven't had any vanishing quotes since my last post that weren't immediately followed by a print at that price. in general i think i'm settling in to the equity rhythm and how to balance price taking with price making on such a thin stock. now i start transacting earlier, and follow him out farther in small pieces, catching any counter liquidity i feel i can along the way via arca
i can also imagine that his liquidity and speed could be more a function of consolidation vs trend cycles on the symbol than anything i'm doing
i can also imagine that his liquidity and speed could be more a function of consolidation vs trend cycles on the symbol than anything i'm doing