how far ahead of us is institutional trading?
- Thread starter mute9003
- Start date
This is incorrect... Pico has collocated exchange feeds like many other private vendors.
These Private Feeds are very fast - collocated - very expensive... Thousands $
Private (like the term private equity, private business, private real estate) Means you pay major bucks to use them.
and There is a Public Feed system... The consolidated feeds that are legally mandated by the US Gov (public) to provide the NBBO... that are very inexpensive and much slower.
IBKR... Interactive Brokers subscription fee for Consolidated A,B,C costs $4.00 to $5.00 a month.
This is... See Jim Jump Over Jane... English Description Definitions.
1. Pico.net has coLocated direct exchange feeds in New Jersey, Chicago and all over the world
They are Private feeds... they are direct exchange feeds.. You pay a lot for them. Many other private feed vendors do this too. Pico.net is just one.
I provided a PDF on this... White Paper... In a prior post that details this.
https://faculty.haas.berkeley.edu/hender/nbbo.pdf
2. The Consolidated Feed, SIP, is NO where near as fast and is very cheap to get and sometimes free.
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Yeah, there is no comparison. Two different things. I wouldn't be surprised though if they were equally behind (if they were to swap rolls).
For example take away all their advantages (resources, capital ,access to information, technical tools and being part of a larger support group) and make them day trade without that and most of them would fall apart. At the very least they would be unlikely to produce a livable income.
Take an intelligent person, train them and give them access to all the above and they would have just as much chance of turning a livable wage (if not more so) than the other way around. That's going to hurt a lot of people's pride on here for sure.
For example take away all their advantages (resources, capital ,access to information, technical tools and being part of a larger support group) and make them day trade without that and most of them would fall apart. At the very least they would be unlikely to produce a livable income.
Take an intelligent person, train them and give them access to all the above and they would have just as much chance of turning a livable wage (if not more so) than the other way around. That's going to hurt a lot of people's pride on here for sure.
Top of the recent posts again.
What's a "swap roll"? I assume that you meant roles.
What is your obsession with day-trading? it's not really a frequency argument. All that day-trading entails is going home flat EOD.
"Your intelligent person" B-argument is your A-argument. It nets to the fact that there is inherently an advantage to have ibank-resources behind you. Well, no shit. They hire from Ivy and other top schools in eng-fields, so we can assume they are intelligent hires.
Successful trading at retail requires an appetite for risk and some level of intellectual ability. I've seen locals at Ceres that cannot read at a 8th grade level.
The fact that you think that all retail trading is either "day trading" or investing is comical.
No obsession and nothing you really said disagrees with what I said. No, do not think "all" retail trading is that. He had a general question. Answered it in a general way.
If you think it's only valid to answer his question from your specific type of trading and from the angle of only trader's you know. Go ahead.
I don't think that nor did I imply it. You think there are only day-traders and n(sell side). You classify "what ibanks traders do" and classify everyone else as day-traders or investors (eliteinvestors).
Not "only" but vast majority yes. If you can logically explain to me how I am wrong, have no issues with that. Maybe I've been unlucky and just happened to run into the same type of scenario, so it skewed the data therefore my experience has led me to the incorrect conclusion.
Let me explain my thought process for my "majority" claim related to retail. This forum and other forums the #1 thing I see people doing is taking long positions and also holding them for an extended period of time. How could you not qualify this as leaning more towards investing? At the very least they are using time and also betting that in general the market goes up. If you break it down, that literally is what they are doing. They can give all the reasoning they want. It doesn't change anything.
For the day trading side I've traded with floor traders, people who have been involved with hedge funds and other people. They have a general poor view when it comes to day trading. They also tend to fall back on just holding positions.
Are there really tons of people like you in the world? Aren't you the minority? So, yes I stand by my comment. Majority of retail either do day trade or they in some way shape or form resort to the above I explained.
Explaining it to you would be like discussing it with a pigeon. If you think that's a cop out then you're dumber than I thought. You need to know your limitations. Truly, i am done here. If you can't find the mark at the table...
It is a cop out. Because if you disagree you're essentially saying most people are good traders and we know that isn't true. So you disagree that most people here are taking long positions in general? Really? You disagree most of them are using time? Really?
I don't believe that you believe that.
What's the matter man? it's all fun and games when you're bullshitting someone else trying to have a legit conversation isn't it? Now that I am ready to play your game, looks like you're on the other end of that now and not having too much fun spending your time with a worthless debate? Glad you can see things through my point of view now.