Anyone getting Raped on NYSE Market orders?

mnx · Dec 21, 2006

Quote from chrisofj:

What you guys think of that TEX .60 spike down then next thing new highs yesterday (12/19) afternoon? That looked fun for someone.

TEX isn't hybrid is it? I got caught for that 50 cent drop yesterday morning... That got me shutdown for the day, total crap.

- mnx

chrisofj · Dec 21, 2006

Quote from mnx:

TEX isn't hybrid is it? I got caught for that 50 cent drop yesterday morning... That got me shutdown for the day, total crap.

- mnx

I really would like to know more about routing and such with NYSE. I'm not sure how one is supposed to handle moves like that, seems you are in a one way street at that point. I have been baised towards nasdog but recently been trading more NYSE.

john99 · Dec 21, 2006

Quote from nassau:

nyse market orders they rape you on limit orders.
it takes seconds if not at all to get filled
It took almost ten (10) seconds to get filled on gm
Many times I have had to call the IB when trying to cover a short in the Metals. The hold you and lock the market then move away and this is on orders of a thousand shares.
tired of having to exit 2or 3 thousand share positions several hundred shares at a time on stocks like gm,ati,tie,mt etc

w

I know what you mean, especially when YM is moving. Fragmenting orders sounds like a good idea, or maybe just trade nasdaq stocks.

Steelhead · Dec 21, 2006

I dont understand this thing...

its 28 bid for 1500
there is 27 bid for 2800 below

i sell 1k mkt------ no trades /no change in quotes nothing in t/s and im filled at 26

LOL -----wtf is happenig with the NYSE?

man Im buyin LAB to hold for other accounts

traderdragon2 · Dec 21, 2006

Now thats what I call a fair and orderely ass raping. Looks quite illegal as well.

Quote from Steelhead:

I dont understand this thing...

its 28 bid for 1500
there is 27 bid for 2800 below

i sell 1k mkt------ no trades /no change in quotes nothing in t/s and im filled at 26

LOL -----wtf is happenig NYSE?

midlifeguy · Dec 21, 2006

Go ahead and laugh but OptionsXpress seems to be getting me fills so much better than anyone else. Why?

Quote from Bullet:

Is this Hybrid system permanently raping anyone sending out market orders??

Am I correct in assuming we will not get any price improvement anymore?

tia
bullet

syswizard · Dec 21, 2006

Quote from Steelhead:

I dont understand this thing...
its 28 bid for 1500
there is 27 bid for 2800 below
i sell 1k mkt------ no trades /no change in quotes nothing in t/s and im filled at 26
LOL -----wtf is happenig with the NYSE?
man Im buyin LAB to hold for other accounts

You should be able to file a complaint or SOMETHING with the NYSE compliance department. That is so totally wrong and awful. Does Thain know this is happening ? I doubt it !

nassau · Dec 21, 2006

Quote from HoundDogOne:

Why dont you just accept the new reality...
And develop whatever infrastructure you need...
To ** manage ** fragmented orders at various price points.

If you send 500, 500, 500 and 500 at 4 different price points...
You will do waaaaaay more volume and profits...
Than sending a 2000 share order at a single price point.

My NYSE volume is up 40% this year...
And maybe half of that is due to Limit Order fragmentation.

your're right I had to accept and evolve as you state.
I have been doing your suggestion now for a while. I also find that I will exit the trade on a limit order a few cents above or below current bid/ask so there is usually??? no excuse depending upon my position. appreciate your response.
good luck with your trades

w