When i see a order for 100,000 shares cancel after the stock drops 50 cents and the orders helped scare everyone out of the stock i call up each time. Today i called up 12 times. I have lost my life trading and these pr!cks are part of the reason. I will call everyday in each and every stock i see and give the detail of the trades
hey HFT scum, yeah, you. Watch this
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When i see a order for 100,000 shares cancel after the stock drops 50 cents and the orders helped scare everyone out of the stock i call up each time. Today i called up 12 times. I have lost my life trading and these pr!cks are part of the reason. I will call everyday in each and every stock i see and give the detail of the trades
What are you talking about?
Winston tries to insert some realism and actual professional expertise into your shit throwing tantrums. He isn't a shill. He has flat out listed many of the actual problems that need to be fixed, while also differentiating between the issues that are simple misplaced public anger.
Much like the average joe six pack, I don't think you know enough about market structure to understand what you are pissd at. I am certain you haven't thought through your anger long enough to know why you are angry at Winston.
How about answer one question without using childish namecalling, ok? In regards to Winston's professional opinions, what exactly do you disagree with?
I am willing to bet that you can't formulate an answer.
The forum is waiting.
These are excellent points. We are finally having an actual discussion in this thread.
I think the exchanges should strictly limit the order to fill ratios of non-market-makers, and more liberally limit the non BBO/NBBO quote price changes allowed to market-maker companies.
Besides implementing some extra charges for over-quoting, or for charging for orders if the order to fill ratio gets past a certain number, what would you suggest should be done to discourage quote stuffing?
perfect example of how FUBAR US stock market really is for retail guy.
i was trying to sell some of these "leftovers" for days..
see those 200 shares on ask @ 1.66-those are mine.
i was only one seller @ that price since like 9:25 or whatever..over 1K shares traded on screenshoot around 10:30 at my price according to IB's T&S... my order was never filled. this is how US market works today..there is no fucking time,size or whatever priority any more. oh...price!... i'm pretty certain that those trades not really @ 1.66. they probably traded @ 1.6599,but IB display them as 1.66. so... here we are..retail guys..last in line,hands are tied and blind...can place sub penny order and can't even see "the real prices"..is it so hard for IB to give us a choice at least to see those trades with like 4 digits after decimal points? plenty of changes in new TWS..so much and so many of them ,that the people are begging for older versions..
i was trying to sell some of these "leftovers" for days..
see those 200 shares on ask @ 1.66-those are mine.
i was only one seller @ that price since like 9:25 or whatever..over 1K shares traded on screenshoot around 10:30 at my price according to IB's T&S... my order was never filled. this is how US market works today..there is no fucking time,size or whatever priority any more. oh...price!... i'm pretty certain that those trades not really @ 1.66. they probably traded @ 1.6599,but IB display them as 1.66. so... here we are..retail guys..last in line,hands are tied and blind...can place sub penny order and can't even see "the real prices"..is it so hard for IB to give us a choice at least to see those trades with like 4 digits after decimal points? plenty of changes in new TWS..so much and so many of them ,that the people are begging for older versions..
Jerkstore, I posted this in another thread. These are the Nanex recommendations...
http://www.elitetrader.com/vb/showthread.php?s=&postid=2946321&highlight=nanex#post2946321
Not much more embarrassing than acting the fool in your own thread.
Pro tip: there are now people having a real discussion here. They do not agree unconditionally with Winston. At your demonstrated comprehension and maturity levels it seems necessary (though probably pointless) to spell that out.
Well, 777?
What am I taking personal or who am I getting personal with?
The fact of the matter is that 90% of traders use retail brokers and their orders never see the light of day. The retail firms set their price structures to make it cost prohibitive to send orders directly to the exchange. Because those trades never see the light of day, they aren't really impacted by what most on this board and in this thread consider to be "big bad HFT". The irony though, is that the retail guys are THE MOST impacted by HFT and you don't even know it or understand it.
Think of it as trading in two different universes - I never see your orders and you will never see mine. The HFT/Arb boxes out there that you guys complain about are in my world while the much more criminal HFT Internalziation boxes that I complain about are in yours.
We all agree that manipulation is bad, we all see that 777 can do nothing but avoid questions and call people names but why continue the ignorance? Why not try to learn about the markets and understand the difference between Layering, Quote Stuffing, HFT with & without order flow and Internalization?
As for the Nanex guys. I don't agree with them 100% but that's my personal opinion. As for their claims, I think they are getting a massive ZH/Tinfoil hat type following based on some pretty graphs and pushing the fear that low latency HFT manipulates markets and is therefore bad. Their articles offer some facts and many opinions - quite possibly educated opinions, but still opinions. This is like a bunch of children that take everything they read as fact. Don't you understand marketing and spin? Don't you know that the people making money mind their own business, keep quiet and don't advertise... Usually the people who need the attention don't have much to offer. (Take 777 as an example)