Daytraders a SERIOUS threat to our business

[Joab]

REG MS Routing or the new HYBRID system

Today I hit a NYFX order to sell market 1000 RIG ...

It literally took about 1 min to get me out and all at 100 share lots one at a time.

This is highly unusual and an order like this use to take .02 - .05 seconds max.

When speaking with my firm they explained to me this new Reg MS / hybrid system but even they can not get a straight answer from the exchanges as to WHY this is happening.

I'm starting this thread as a plea to all active daytraders so we can ban together and see if we can get this resolved.

All comments and suggestions are welcome.

 

[Dustin]

Sounds more like a firm or software related issue...I haven't seen anything like this.

 

[Joab]

Where's Don Bright when I need him

 

[Longhorns]

Quote from Dustin:

Sounds more like a firm or software related issue...I haven't seen anything like this.

Agreed. What software are you using?

 

[Joab]

Quote from Longhorns:

Agreed. What software are you using?

Hydra

 

[bonds]

im a daytrader and ive had some problems with the nyfix route... orders are delayed going out and fills have been awful, especially on fast moving stocks.

 

[RedDuke]

Futures is the answer. Non MM games, 1 tick spread, full order book display 5 bid and ask levels, and execution within mili seconds.

There are a lot of games inside DOM, but it is very different from stocks.

I just do not get why there are still people out there day trading stocks whem futures are so much superior. I am taking about pure day trading, no position left overnight.

 

[nkhoi]

Quote from RedDuke:

..

I just do not get why there are still people out there day trading stocks whem futures are so much superior. I am taking about pure day trading, no position left overnight.

they enjoy paying tax more?

 

[Joab]

I hate this new system...

The damn thing got me again today.

-5% on 2 friggin trades that hit my stops (rare) to the tick and bounced right back to my entries.

 

[Don Bright]

Quote from Joab:

I hate this new system...

The damn thing got me again today.

-5% on 2 friggin trades that hit my stops (rare) to the tick and bounced right back to my entries.

Who do you trade with? What destination are you setting as a default? Which stocks are you having trouble with?

(Sorry I missed your 8/01/01 post, I must be getting old, LOL).


Don