Ok, you REALLY dont understand how this works, do you? There is one guy who gets a couple of million 1:100 RR trades per day and then there is another guy (you and average joe) who thinks that is a good thing because free trading.I didn't defend the practice because of a good fill by accident. Furthermore where do you come to the conclusion that orders that cross are not being executed. It is automatically executed and often between the bid and ask if matched off.
FYI these wholesalers execute to 4 decimal places as opposed to MM or exchanges who deal in penny for 2 decimal increments.. The retail traders benefits.
FYI mm or exchanges are good for only 100 shares therefore you have no reason to beef.
In addition Robin Hood feeling blowback from traditional wall street and its influence at the SEC said it was willing to accept the elimination of subpenny execution (4 decimal place execution) in a compromise to maintain payment for order flow. Guess who would benefit? The traditionall MMs who deal in .01 increments.
Ok, go ahead and make the market maker rich.Furthermore there was no such thing as penny spreads in the old days except for penny stocks. Today there are numerous stock s traded with a penny spread. I traded snap today a $60 stock
which had a penny spread. Show me how you can do better than that .
I gave you my numbers in an example but you ignored them I am not about to give 50k in commissions on a 100k in capital. That is a 50% charge to capital. That is a pretty good reason why 95% of day traders are losers. 50 round trips per days at $2 ticket is $200 per day,1k per week and 50k per year. The lack of response shows the depth of your understanding of capital management.
If you think you can do better away from a payment for order flow firm go to IB and pay a commission. IB offers both scenarios commission free trading and commission trading
You didn't respond to my numbers or to my comment about IB. Nobody can learn anything from your responses.Ok, go ahead and make the market maker rich.
Nobody cares about your numbers as long as you don't understand the underlying functionality of Pfof and subpenny pricing...You didn't respond to my numbers or to my comment about IB. Nobody can learn anything from your responses.
Let's hear your workaround for active day traders.
Ah... so you know someone who knows something and because I don't believe your dreamed up numbers they gonna make more money in 20min than I do in a year.My numbers speak to the reality. To say nobody cares about reality only is a s
showcase for your failure to produce any numbers in your response.
What kind of specialist are you talking about. In the past I had colleagues who were MOC experts who dealt with floor brokers paid seemingly high commissions to get information on order flow and made more money in the last 20 minutes of trading in a day than likely you make in a year
You have not been able to dispute my numbers showing ticket charges of $2 per ticket would result in a capital loss of 50%.Ah... so you know someone who knows something and because I don't believe your dreamed up numbers they gonna make more money in 20min than I do in a year.
Now imagine you cut down your ticket charge by routing your limit orders to venues that actually pay you to do so plus your entries are 1 ct better on average, because the internalizer doesn't frontrun every single one of your orders...You have not been able to dispute my numbers showing ticket charges of $2 per ticket would result in a capital loss of 50%.
Assume 100 tickets per days at $2/ticket on 100k Account. That would be an additional 50k per year with a ticket charge or 50% charge to capital. There is no way that I believe I am going to save that 50k without order flow. I trade stocks with.01to .03 spreads. Unfortunately you have proven yourself to being mathematically challenged, or just plain ego driven unable to admit that you are wrong.
Now in addition you are showing that you are unfamiliar how moc orders are entered by prop shop traders.