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Bright Trading's new payout model
- Thread starter Maverick74
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this is bullshit. talk to traders who were around in 87... ask them how many stocks had a bid.Quote from Lights:
Flash crashes happen when HFT market makers don't wanna participate, cos their risk management programs tell them to shut off.
the only difference between then and now is there was a human there to see the obvious idiocy of hitting a specialist quote 99% outside of the market. everything else was the same: excessive selling pressure that wiped out the majority of bid liquidity.
if there was anyone to 'blame', it was the idiocy of these 'dump at any price' algo's that were unleashed that day. a close second are the exchanges with zero volatility auctions or breakers.
market makers behaved as they always have: provide liquidity until they're stuffed to the gills, and then step away. this will never change. you can't regulate someone to go bankrupt just so some idiot can dump his wad on you. that's not how markets work.
There are prop firms that allow traders to enter sub-penny orders. Folks who trade retail are at a disadvantage.
It seems that the complaint against sub-pennying, especially from prop traders, are misleading. However, the retail traders certaintly are warranted with their complaints.
Walt
It seems that the complaint against sub-pennying, especially from prop traders, are misleading. However, the retail traders certaintly are warranted with their complaints.
Walt
Quote from Lights:
REad above, I added an edit.
Flash crashes happen when HFT market makers don't wanna participate, cos their risk management programs tell them to shut off.
Lighten the fuck up, Lights.
Flash crashes happen once, it was a glitch in overloaded servers, and doomed to happen eventually. So what. They fixed it.
Next question.
Quote from jones247:
There are prop firms that allow traders to enter sub-penny orders. Folks who trade retail are at a disadvantage.
It seems that the complaint against sub-pennying, especially from prop traders, are misleading. However, the retail traders certaintly are warranted with their complaints.
Walt
Can you name some prop firms that allow entering sub-penny orders?
Quote from propseeker:
the only difference between then and now is there was a human there to see the obvious idiocy of hitting a specialist quote 99% outside of the market. everything else was the same: excessive selling pressure that wiped out the majority of bid liquidity.
lest we forget the crash of 2008/2009 when the markets tanked 800 points and the circuit breakers were on full slowdown. if they hadn't been there, we'd all be standing in bread lines now.
flashback to 1933, remind yourself of what it was like for our great grandparents generation, and that lasted almost a decade.
yes, but specialists weren't pulling bids and waiting to buy the low of the day. Research how many MM's bot the bottom that day in may for a trade. profit first, liquidity second.
and research how many MM's were bidding subpennies above the bid at the low.
and research how many MM's were bidding subpennies above the bid at the low.
Quote from propseeker:
this is bullshit. talk to traders who were around in 87... ask them how many stocks had a bid.
the only difference between then and now is there was a human there to see the obvious idiocy of hitting a specialist quote 99% outside of the market. everything else was the same: excessive selling pressure that wiped out the majority of bid liquidity.
if there was anyone to 'blame', it was the idiocy of these 'dump at any price' algo's that were unleashed that day. a close second are the exchanges with zero volatility auctions or breakers.
market makers behaved as they always have: provide liquidity until they're stuffed to the gills, and then step away. this will never change. you can't regulate someone to go bankrupt just so some idiot can dump his wad on you. that's not how markets work.
Quote from jones247:
Hi Walter....There are prop firms that allow traders to enter sub-penny orders. Folks who trade retail are at a disadvantage.
It seems that the complaint against sub-pennying, especially from prop traders, are misleading. However, the retail traders certaintly are warranted with their complaints.
Walt
Some firms can enter "mid-price" type orders, but most that I know of, cannot enter straight sub-pennies. If you know of one or two, please PM me, I would like to discuss it with them, thanks.
Don
liquidity exists because people have an incentive to provide it (profits).Quote from Lights:
May was make money/don't lose first, make markets second.
take away that incentive and force them to make a market at any cost 'for the greater good', and you no longer have a market.
think about it for a second. you can't force altruism in place of basic personal survival and expect that system to work for even a small amount of time. state mandated suicide, regardless of how wonderful it might sound, is just not sustainable.
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