Interesting 1st post...
something feels shady here. I guess the cat's out the bag.
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Edgx Rebate Increase
- Thread starter wheelndeal
- Start date
Interesting 1st post...
something feels shady here. I guess the cat's out the bag.
Some ECN's pay for adding liquidity and others pay for removing. So you can buy at the bid or sell at the offer, and try to make a full penny making profit plus rebate, or if you don;t think you will get a fill at the penny you canclose your trade at a ECN that pays to remove liquidity, so you break even on the trade, but the rebates from the ECN's outweight your transaction costs.
Do this at huge volume you can make alot of money. I've only been trading like this for about a month, and have been profitable, but have had trouble getting fills on large position sizes. When you get swiped you are in there with a full size position at a loss, and most of the time you don't get a full size position (partial fills) when the market is going your way. It seems to me that you only get about 10 chances a day to make a full penny with a full position size.
I'm interested about the open, I don't usually trade it, but will if I can get good fills adding liquidity on edgx. I only get filled on edgx during market hours when it gets swiped. I get my best fills on the floor. If there is any way to get better fills let me know.
Do this at huge volume you can make alot of money. I've only been trading like this for about a month, and have been profitable, but have had trouble getting fills on large position sizes. When you get swiped you are in there with a full size position at a loss, and most of the time you don't get a full size position (partial fills) when the market is going your way. It seems to me that you only get about 10 chances a day to make a full penny with a full position size.
I'm interested about the open, I don't usually trade it, but will if I can get good fills adding liquidity on edgx. I only get filled on edgx during market hours when it gets swiped. I get my best fills on the floor. If there is any way to get better fills let me know.
Quote from Moc Yeah:
lol. i never use my strategy in the pre-market. I usually turn on the box about 10am and shut it off around 3pm (or earlier depending on what the late day closing imbalances look like when they start rolling out at 2). Not sure why you think its difficult to trade C intraday??? I've seen more ups and downs in that stock (within a .01 range), than i do in a porn film. lol. Some days i can't get as many round trips as i'd like, but there were a few days in mid december, where i was getting 3-4 roundtrips per minute on 5k lots. did about 35k in rebates alone over those 3 days. I can't wait til Nasdaq becomes available through my agency... and possibly higher rebates from the NYSE (they'll do anything to claw back market share)
Which exchanges start publishing close imbalance information at 2pm? Does the close imbalance information just come from NYSE and NASDAQ?
Why do you people revive old threads? You got me all excited about the EDGX fees ahahahha
Quote from NY0BScalper:
hah, me too! Me too... the 2.6/3.00 fee structure sucks... I read the title and was about to pop off my bats keys...
2.7/2.8 is the best we can hope for.
Yeah I went and checked the Direct Edge website and was about to have to say to my boss he ain't doing his job hahahah
I personally prefer using BATS, easy to see your prints and more importantly no stupid liquidity tags! Also EDGX is the only ECN where if you hit someone else in your own firm then you get an 'e'(?) tag and you don't get the credits... they also don't pay so your giving them a free ride. I don't get it a lot but I freakin hate it when I see it... I know its stop wash trading but it just annoying... no other ECN does that
Quote from Moc Yeah:
lol. i never use my strategy in the pre-market. I usually turn on the box about 10am and shut it off around 3pm (or earlier depending on what the late day closing imbalances look like when they start rolling out at 2). Not sure why you think its difficult to trade C intraday??? I've seen more ups and downs in that stock (within a .01 range), than i do in a porn film. lol. Some days i can't get as many round trips as i'd like, but there were a few days in mid december, where i was getting 3-4 roundtrips per minute on 5k lots. did about 35k in rebates alone over those 3 days. I can't wait til Nasdaq becomes available through my agency... and possibly higher rebates from the NYSE (they'll do anything to claw back market share)
Do you close a possition taking liquidity, or add and wait for your order to be hit, because 3-4 round trips per minute is very good?
Also what routes are you using to achive that execution?
Thanks.