High Frequency Trading: Can Any Stock Replace Citigroup?

[julian0625]

Quote from stock777:

since the computers do 99% of the hft trading, what gigs are you referring to? mens room attendant?

I HFT trade stocks such as C (sad its going to go away) with a small firm who does about 20million shares on C and BAC on a good day. No computer trading involved, all human.

A computer cant react to the conflicting signals the different routes have. Only a human can feel the routes and fills.

 

[TokyoGhetto]

live prop trading on Citigroup. platform is sterling trader pro.

seems like the trader is using floor routes to gain parity then flipping the position to capture the spread, but they aren't collecting rebates primarly, however it seems like they are rebate sensitive. also the trader is using midpoints to give up some spread but gain execution over the other limit orders.

<iframe title="YouTube video player" width="480" height="390" src="http://www.youtube.com/embed/kYamaIpPjXA" frameborder="0" allowfullscreen></iframe>

any thoughts?

 

[earlyexit]

Quote from julian0625:

No computer trading involved, all human.

Are you phoning the orders in to your broker? Must be tiring.

 

[TokyoGhetto]

Quote from earlyexit:

Are you phoning the orders in to your broker? Must be tiring.

Direct Market Access, so im sure he is using hot keys.

 

[eqty168]

The video is showing the last few minutes of action where there are frantic nyse orders jumping on both sides, and with a floor route the trader is getting great fills and getting right out of the positions with a darkpool ecn (UBSPASS). If he can receive $1 rebate on the floor route for getting in, then he'll be paying $2 in ecn fees per 1000 shares traded since UBSPASS is about $3 per thousand. Poor spread and rebate capture but the key is the great fills in the last few minutes to complete a lot of these trades at a small profit (about 3/10 of a cent + commissions) each.

 

[Red_Ink_inc]

Quote from The Ram:

Good riddance, you bums.

+1

 

[TokyoGhetto]

Quote from eqty168:

The video is showing the last few minutes of action where there are frantic nyse orders jumping on both sides, and with a floor route the trader is getting great fills and getting right out of the positions with a darkpool ecn (UBSPASS). If he can receive $1 rebate on the floor route for getting in, then he'll be paying $2 in ecn fees per 1000 shares traded since UBSPASS is about $3 per thousand. Poor spread and rebate capture but the key is the great fills in the last few minutes to complete a lot of these trades at a small profit (about 3/10 of a cent + commissions) each.

it also seems that when one side starts getting thin he using a multi-listed route im guessing ARCA, BATS and NSDQ (thats what I would use) so some rebates are captured when the price flips.

C will be dead soon and I don't think this type of trading will be possible on "thinner" stocks without some type of automation.

 

[julian0625]

Quote from TokyoGhetto:

live prop trading on Citigroup. platform is sterling trader pro.

seems like the trader is using floor routes to gain parity then flipping the position to capture the spread, but they aren't collecting rebates primarly, however it seems like they are rebate sensitive. also the trader is using midpoints to give up some spread but gain execution over the other limit orders.

<iframe title="YouTube video player" width="480" height="390" src="http://www.youtube.com/embed/kYamaIpPjXA" frameborder="0" allowfullscreen></iframe>

any thoughts?

That is Affinity Trading Group, the firm I trade with!

 

[julian0625]

lol you know, I LOVE how people hate HFTraders yet all we are doing is capitalizing on market opportunity JUST LIKE EVERY TRADER IS AS WELL.

We've found a consistent, reliable method.

I used to hate High Frequency Trading until I became a High Frequency Trader.

Haters 'll hate.

 

[stock777]

I calc he made 0.007777778 per share during the vid.

seems like a lot, don't they pay commissions?

PS These guys seem a lot sharper than the clowns at SMB