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How to buy and sell more than 20,000 shares frequently?
- Thread starter kapama
- Start date
Quote from kapama:
So much information here that I am confused.
Here is the ultimate question; am I gonna lose money by trusting the asks and bids on Level II of scotrade or Ameritrade? Inother words are they manipulated or not?
Since I am planning to buy very large number of shares and If I got ripped of a penny that is alot.
Can someone answer?
the bid and ask may show you one price, but somebody has to be selling 20,000 shares for you to get filled there. if there are only 100 shares at 200 levels you will get fill $1 higher than the offer. After you have bought the shares it will probably come back down to where you started buying (see Livermores book)
As well, you need to understand that the market is quantized. any action you make changes the outcome of the stock. think of Einstein's photelectric effect, where the energy used to find a photon changes its location. (see also Shrodinger's cat).
hope this helps you get less screwed.
8s
worried about 1 cent over a week. ahahahahaha.
fussing over a 20 dollar commission charge. hahahahaha.
buy monday at time x and sell friday at time x... hahahahaha
have you ever actually traded before?
refreshing 20K shares with a 200 order on a 100K volume stock. if and when you get that fill... you're probably not going to want it anymore....
this thread is a joke right?
fussing over a 20 dollar commission charge. hahahahaha.
buy monday at time x and sell friday at time x... hahahahaha
have you ever actually traded before?
refreshing 20K shares with a 200 order on a 100K volume stock. if and when you get that fill... you're probably not going to want it anymore....
this thread is a joke right?
I love how people give this Kapama dude so much more information than he deserves...
ARE YOU GUYS TRADERS OR NOT?
I'm sorry but my wet dream is some dude like him coming into a thin stock I'm watching and placing any order whatsoever.
ARE YOU GUYS TRADERS OR NOT?
I'm sorry but my wet dream is some dude like him coming into a thin stock I'm watching and placing any order whatsoever.
What make you guys think the OP doesn't have a strategy? He obviously is a n00b trader but who knows what strategy he might be using. Dismissing the strategy in and of itself is a bit premature even if probability that this strategy is -EV is likely.
What if he follows a service that publishes weekly calls?
What if he's using 1-bar strategies based on weekly data. There are many strategies that predict weekly movements based on various interweek, intramarket indicators.
What if he has inside info on weekly investment newsletters? He jumps the suggestions early and rides it for X days.
Heck, maybe he controls the Storm worm botnet and is issuing pump & dump spam that hits employees at work on Monday. So he gets in early and holds for 5-days.
My point... answer the guy's questions and let him worry about the strategy. We have no idea what it is.
What if he follows a service that publishes weekly calls?
What if he's using 1-bar strategies based on weekly data. There are many strategies that predict weekly movements based on various interweek, intramarket indicators.
What if he has inside info on weekly investment newsletters? He jumps the suggestions early and rides it for X days.
Heck, maybe he controls the Storm worm botnet and is issuing pump & dump spam that hits employees at work on Monday. So he gets in early and holds for 5-days.
My point... answer the guy's questions and let him worry about the strategy. We have no idea what it is.
Since you arent looking for direct access..
I wouldnt do over the phone. If they only charge you $10 for a phone order, something is wrong with that company...
So ameritrade has flat rate $11 trading fee, regardless of the # of shares. I dont trust their execution times though. In a thinly traded nasdaq stock, I've seen the stock trade under my bid before in my ameritrade account. If you're worried about slippage, I would disregard them. Like you said, if slippage costs you $200, then it doesnt matter what the commission was.
If you have the $$$, and get get gold commision levels with fidelity, that might be the way to go...
I wouldnt do over the phone. If they only charge you $10 for a phone order, something is wrong with that company...
So ameritrade has flat rate $11 trading fee, regardless of the # of shares. I dont trust their execution times though. In a thinly traded nasdaq stock, I've seen the stock trade under my bid before in my ameritrade account. If you're worried about slippage, I would disregard them. Like you said, if slippage costs you $200, then it doesnt matter what the commission was.
If you have the $$$, and get get gold commision levels with fidelity, that might be the way to go...
Many people attempted to answer his questions, however, the OP had no concept or understanding what people were referring to. Considering that he did not offer any other information other than Buy Monday, Sell Friday and his obsession of $200.00 slippage on a $100,000 trade led most to assume that no plan was in place, and hence futile to offer any additional advice.Quote from dottom:
What make you guys think the OP doesn't have a strategy? He obviously is a n00b trader but who knows what strategy he might be using. Dismissing the strategy in and of itself is a bit premature even if probability that this strategy is -EV is likely.
What if he follows a service that publishes weekly calls?
What if he's using 1-bar strategies based on weekly data. There are many strategies that predict weekly movements based on various interweek, intramarket indicators.
What if he has inside info on weekly investment newsletters? He jumps the suggestions early and rides it for X days.
Heck, maybe he controls the Storm worm botnet and is issuing pump & dump spam that hits employees at work on Monday. So he gets in early and holds for 5-days.
My point... answer the guy's questions and let him worry about the strategy. We have no idea what it is.
Don Bright made an honest attempt as did others, perhaps you may be able to clarify the OP's options. I for one would be interested in any suggestions or advice that you may have to help the OP, as I strive to learn from everyones contributions.
Here is yet another thread that the OP started on how to trade from work. In that thread he claims he's a financial analyst.
His stories are getting old and tiresome. If he was a financial analyst he'd know most of this stuff already.
The regulatory issues alone for him to trade at work are ridiculous. His firms compliance department would be all over him.
Its silly to sit here and answer these questions when this guys blowing smoke.
Here is the other thread I referred to. I believe he's started several others just a pointless too.
http://www.elitetrader.com/vb/showthread.php?s=&threadid=105823&perpage=6&pagenumber=1
His stories are getting old and tiresome. If he was a financial analyst he'd know most of this stuff already.
The regulatory issues alone for him to trade at work are ridiculous. His firms compliance department would be all over him.
Its silly to sit here and answer these questions when this guys blowing smoke.
Here is the other thread I referred to. I believe he's started several others just a pointless too.
http://www.elitetrader.com/vb/showthread.php?s=&threadid=105823&perpage=6&pagenumber=1