I see a correlation to slow fills or no fills if its a "good till cancel" order. I think this gives the specalists too much liberty to work it in to a larger spread to fill larger orders and make a bigger net.
TS
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Hatred of the NYSE
- Thread starter eagle488
- Start date
I see a correlation to slow fills or no fills if its a "good till cancel" order. I think this gives the specalists too much liberty to work it in to a larger spread to fill larger orders and make a bigger net.
TS
It was an OPG only order, marked OPG, SS 67.40 the stock opened up at 68 and they gave me the UR OUT message, the floor told me that I there was stock ahead. I was in at 6:23, 7 minutes prior to the open, and a friend of mine was in 4 minutes later and got the fill. THe only difference is we trade with different firms.
I should have gotten the fill..Time, and price were both on my side. BTW, he opened the stock at 6:37, I was in there for 15 minutes and no fill. THIEVES...i tell you!
I should have gotten the fill..Time, and price were both on my side. BTW, he opened the stock at 6:37, I was in there for 15 minutes and no fill. THIEVES...i tell you!
I have had many issues with not getting filled on NYSE. Every time I call down to the trade desk to see why I didn't receive the print, even though it went through my price, I receive the same answer. "There were shares ahead of yours", thats why you did not get the fill.
It is no win situation!
no reason to even argue it! Trade and deal with it or just do not trade.
If you are worried about it, try trading nasdaq, where the fills can be better.
As far as me, I trade NYSE. I can make money trading it and am not to concerned with a lack of a fill from time to time.
It is no win situation!
no reason to even argue it! Trade and deal with it or just do not trade.
If you are worried about it, try trading nasdaq, where the fills can be better.
As far as me, I trade NYSE. I can make money trading it and am not to concerned with a lack of a fill from time to time.
Quote from eagle488:
I cant say this enough. When a stock trades on the NYSE, it seems like some huge process just to get a fill. When i execute on the nasdaq, the process seems so short and sweet. No problems doing anything. I shorted a stock and rode it down on the Nasdaq this morning. It was so sweet. The shares popped up immediately, no waiting. Oh man, obtaining short shares on the NYSE, is the specialist seeking supervisory authority? What is the delay?
Uh-oh, here is an equity that trades on the NYSE. Ugh. Its so manipulated and the fight never seems fair. The floor looks high tech on television, but it seems as if my order is going in by telegraph. There goes my order and suddenly the ask jumps. I then move up the order to the ask price and it still jumps a bit more. Is this a comedy routine? Is the specialist still in college pulling pranks?
9:30 comes around and all of the nasdaq stocks are trading away, full speed ahead. Oh man, the NYSE specialist takes his time. Gotta shake the cobwebs out of there and broom out the booth before we get started. Uh-oh, there is suddenly a mad rush of orders at the open as if the specialist were trying to catch up.
There I see a specialist on television laughing and smiling while typing away. He sees my order and tries to play his tricks. Somehow he has gotten this down to an artform where he can piss off investors all day long. On CNBC he looks up at me with that evil grin giving me the wink. Move that order up 5 more cents and I will fill it. Then I do move it up a penny or two, as it executes the price suddenly falls as if my execution was at the high.
This has been my experience with the NYSE for many many years. I love Jeffrey Citron, he is my hero. The inventor of the Island and the one who got us all started electronic trading.
Although the Nasdaq, can be manipulated. It just seems like these human factors of speed and irresponsibility are non-issues. While many can fool the computer, the computer is not a human specialist so there are no behind the scene deals or irresponsible behavior. Come on, its 9:35am, can you please open the book. Stop hitting on the ladies. Please........
They got just a little longer to keep making this money. I also hate NYSE. As a joke I will put out a market short sometimes just to see how long I can go, how far it will move, before I can cancel it, with still NO FILL.
They are slow.
It seems each stock has its own nuance. Some of them turn on you the moment you buy more than just a few shares, some of them don't.
Quote from HoundDogOne:
Early Sept 2006... Nasdaq share of listed rises to about 13%...
But what's important is that it has reached a point of ** critical mass in terms of liquidity **...
So the trend then becomes self-reinforcing...
And NDAQ stock is up 35% in 2 months.
...
The whole Hybrid Scam has only one intent: to delay electronic trading...
But it's a dangerous game...
Because when liquidity "tipping points" are reached...
Market share can disappear in a big hurry.
Well, my 'tipping point' just came.
ARCA's liquidity on listed stocks is now good enough. I've just switched to trading all thick NYSE (non-hybrid) stocks through ARCA, instead of bending over for Vinny the specialist.