Market order 37 seconds before close and NYSE won't honor it...

I quit trading NYSE stocks again! I quit them a few years ago and started trading them again in the last six months due to the hybrid system. (No longer trade NYSE as of last week) If I trade a NYSE stock now it is a position trade ...NO DAY TRADES! Their trading system is a freaking joke for day-traders. The hybrid system is 50/50 at best. If you read the whole explanation of the new system it is supposed to have you filled if you follow it. B.S. !!! Don't trust their system as far as you can throw it.

If you insist on trading the NYSE, which I can understand for there are good opportunities as far a price related trades. Use limit orders only and make sure you put your limit orders beyond the current bid or ask to get them filled. I normally would use about .05 on either side of the bid/ask to enter/exit. (depends on the spread and liquidity)

Good Luck for I think their system sucks beyond belief compared to the NASD.

This whole argument about "We need Humans to interact in case things go arry" is complete B.S as we have seen this week. And this whole idea that the Hybrid works so good we can cut 75% of the people and have them handle 4 to 5 more stocks as MM's. Thats like giving you doctor a cigarette a vicodine and a 5th of tequila before he does open heart surgery on you.

Where the NYSE gets these Ideas is beyond my comprehension.

JMHO,

GOOD LUCK!
 
I was trading GS thru CyberTrader in the past couple of days. Many times, there were all kinds of prices on time & sell, sometimes more than $1 part from each other, and those prices were way off from the prices listed on bid & ask.

Is this because of the hybrid everyone was talking about?

I was like "why anyone wants to sell for $200, while the best price at bid is over $201.50??
 
Quote from yxy:

I was trading GS thru CyberTrader in the past couple of days. Many times, there were all kinds of prices on time & sell, sometimes more than $1 part from each other, and those prices were way off from the prices listed on bid & ask.

Is this because of the hybrid everyone was talking about?

I was like "why anyone wants to sell for $200, while the best price at bid is over $201.50??
More...

it could be that your quotes were slow/wrong (happened with many brokers, mine included). the other thing that was happening (still happening in the mornings), was nasdaq printing their trades very late giving the impression the market wasn't where it was. this ended up causing charts and t&s to be pretty useless. couple that with slow/wrong quotes and it was tough to know what exaclty was going on at certain times.

electronic trading is a bit of a joke at the moment. feels like only a few firms were prepared enough to deal with it. both nyse & nasdaq dropped the ball. firms/individuals that were prepared though, killed it.
 
Really !? I better be careful.

I thought that Cybertrader with direct access is bullet proof, but you might be right. Their quotes often stuck when a stock is moving fast.
 
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