Hi,
I'm a successful 17 year veteran of long term trading although as an avocation, and now that I sold my consulting business and retired, I've been learning the intraday game. Slippage has almost nil affect in long term trading, so I never cared about it. However in Intraday it is significant. What are the opinions on which directed route's are optimal for NYSE and NASDAQ intraday trades. After reading the forum, I tried using IEX, but I didn't see the better fills that others claim. In fact what I experienced were many misses on stop/limit orders especially in the first couple minutes of the open (even with significant allowed limit slippage). While running a parallel order as "Intelligent", it would fill while IEX missed.
I use TradeStation (would love to use IB if they offered multiple stops via automation, but they don't). In Tradestation, I've been finding the best fills with "Intelligent" route. However, in my research, the theory is that retail brokers fill such orders themselves, thus taking the opposite position, thus perverting the the true supply/demand flow of the market.
So, I guess I have 2 questions:
1. For other Tradestation users, do they think Tradestation is doing this for "Intelligent" routed orders?
2. As the subject line states, what do folks think the best routes are for each exchange (NASDAQ and NYSE). Since I am exploring different trading strategies for each exchange, I can program in the different routes for either.
Thx,
Bob
I'm a successful 17 year veteran of long term trading although as an avocation, and now that I sold my consulting business and retired, I've been learning the intraday game. Slippage has almost nil affect in long term trading, so I never cared about it. However in Intraday it is significant. What are the opinions on which directed route's are optimal for NYSE and NASDAQ intraday trades. After reading the forum, I tried using IEX, but I didn't see the better fills that others claim. In fact what I experienced were many misses on stop/limit orders especially in the first couple minutes of the open (even with significant allowed limit slippage). While running a parallel order as "Intelligent", it would fill while IEX missed.
I use TradeStation (would love to use IB if they offered multiple stops via automation, but they don't). In Tradestation, I've been finding the best fills with "Intelligent" route. However, in my research, the theory is that retail brokers fill such orders themselves, thus taking the opposite position, thus perverting the the true supply/demand flow of the market.
So, I guess I have 2 questions:
1. For other Tradestation users, do they think Tradestation is doing this for "Intelligent" routed orders?
2. As the subject line states, what do folks think the best routes are for each exchange (NASDAQ and NYSE). Since I am exploring different trading strategies for each exchange, I can program in the different routes for either.
Thx,
Bob