Hey Scalpers, how do you enjoy trading against machines w/1 millisecond turnaround?

Quote from PORNSTAR69371:

What i am talking about is strictly exiting a moster position going against you, lol obviously i have never punched in with this kind of reckless abandon.

Executioner i have tried exactly what you are talking about, and what happens is after it clears L1, the next quote just cancels, and decides no i dont want to fill, and in fact i didnt even think about it before until Longhorns pointed it out but thi often also happens on the L1 problem with NMS is it gives the guys who have the best connections the closest to the action way to much time to yank anything they want to, given your example, lets say offer 30.03 for 300 shares then 30.04 500 then 30.05 2k then 30.06 7k


I would try to hit out 30.06 for 7k and ditch everything in between (about 10k shares) but what in evitably happens is i hit 30.03 for the 300 might get a bit of 30.04 miss 30.05 altogether, and 30.06 disappears. So essentiallly i buy a stock up 4 tick against m and get out of 2k shares on a 25-30k position, (not a good deal) THIS HAPPENS ALL THE TIME!!!! It is extremely frustrating because i tip my hat on my position and get raped after that, The other big thing is it allows the big time players to beef the stock up and make it go where they want when they basically have a free FUCK YOU card to say hmmmmmm nah id rather not have those shares even though they were there, back in the day it worked well when it was a straight up island/arca cross, got arbed out of a few hundred shares but no one could dodge the bulky part of the order quick enough, now with NMS every piece of shit routing order has to check to make sure they are taking all liquidity on the level before they proceed to the next.


I also have smart order which i use and many other routing orders and it always fucking sux!
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If that is really happening to you, I offer you my condolences. That's bullshit. The ability to pull any offer or bid is a huge edge - one can force any swifty to give away his hand entirely and proceed to con him into giving you 5 or 10k because his risk management guidelines dictate that once he's out of the money a certain amount on a position, say $5k, he must get out of the position no matter what.

One advantage to trading the NYSE is that anything left in the open book can be hit.

It's bullshit that you can't trade through price levels and that the LII is just a game, but at least you can find out on which side the bids/offers are pulling and know the direction the big players gaming a stock will drive it.
 
I feel great about it how do you feel about your trading? How do you feel about your thread? I hope you got all you desired from it.

Personally I enter when volume dries up so it dosen't bother me. Or if I am feeling gung ho sell into buying climaxes so it dosent bother me.

Cheers.
 
I'm going to submit this thread to a University for further study.

Clearly, the slightest hint that a trader might be on the wrong end of the game, stirs up terrible feelings of doubt and the need to lash out at the messenger.

I'm not surprised, but few things surprise me at this point.
 
Quote from stock777:

I'm going to submit this thread to a University for further study.

Clearly, the slightest hint that a trader might be on the wrong end of the game, stirs up terrible feelings of doubt and the need to lash out at the messenger.

I'm not surprised, but few things surprise me at this point.
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Clearly trolls like you are the one on the wrong side of our contracts... but hey, for every winner there needs to be a loser :p
 
Quote from stock777:

I'm going to submit this thread to a University for further study.

Clearly, the slightest hint that a trader might be on the wrong end of the game, stirs up terrible feelings of doubt and the need to lash out at the messenger.

I'm not surprised, but few things surprise me at this point.
More...

I think your failure to outline either the breadth or depth of the problem you alluded at the outset undermines the attempt to elevate yourself to the level of detached analyst studying an unusual bacterial culture in a petri dish...

I would council you against your planned consultation. Doing so may just as likely bring the harsh searchlight of science to bear on you, as opposed to the responses you so inexpertly solicited.
 
Quote from fundjunkie:

I think your failure to outline either the breadth or depth of the problem you alluded at the outset undermines the attempt to elevate yourself to the level of detached analyst studying an unusual bacterial culture in a petri dish...
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Hehe... petri dish... I've been to that restaurant
 
As you just stated, it is easy to force a swifty to get out of a position, and unfortunately as you know usually by the time i figure out which side they are pulling it is too late to make it worth while, FXWILL you switched from swift to FX?? very curious if that is the case please PM me and share some details.


Thx


Quote from FXTraderWill:

If that is really happening to you, I offer you my condolences. That's bullshit. The ability to pull any offer or bid is a huge edge - one can force any swifty to give away his hand entirely and proceed to con him into giving you 5 or 10k because his risk management guidelines dictate that once he's out of the money a certain amount on a position, say $5k, he must get out of the position no matter what.

One advantage to trading the NYSE is that anything left in the open book can be hit.

It's bullshit that you can't trade through price levels and that the LII is just a game, but at least you can find out on which side the bids/offers are pulling and know the direction the big players gaming a stock will drive it.
More...
 
Quote from PORNSTAR69371:

As you just stated, it is easy to force a swifty to get out of a position, and unfortunately as you know usually by the time i figure out which side they are pulling it is too late to make it worth while, FXWILL you switched from swift to FX?? very curious if that is the case please PM me and share some details.


Thx
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I know some ex-swifties who trade at Title now... I trade at an equity prop firm in NYC... I never got into FX seriously enough and never made consistent money from it. FX is a lot, lot harder than equities though...
 
Quote from FXTraderWill:

With intermarket sweep orders I can swipe through several levels of ECNs before anything has a chance to pull.
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Yes but you do hit L1 first and those fake L2 react instantly. Correct me if I am wrong, but the sweep hits successive levels, it does not automatically lock everything that is shown on L2 just based on the order you put in. Cause if it does, I think Nasdaq should get quite a lot of calls cause thats not how I observed or experienced it work.

It may definitely be a speed issue since these black boxes are located right next to the exchanges/ECNs.

I also do not think it may have much to do with the direction of the stock, it's sometimes simply a slippage game or a tactic for better fills. It may also be used to force out a position or pull a shakeout (especially short squeeze).

Specialists used to do this by simply not filling your orders. I guess now the game has advanced and it's done by technology.
 
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