nasdaq vs nyse(important...too me at least)

N

nwbprop

i have a predicament and would love your input(your input will be play a big factor). I am wondering if i should focus on trading listed or nasdaq. the firm i trade at primarily trades nasdaq but some have switched to trading listed recently.
I want to make the best money possible as all of us do. i want to know if the profit potential for trading listed is greater than nasdaq. i figure that the best estimate would be the top traders daily numbers of the traders who trade listed stocks. if someone could post it or send me a pm that would be great. I would also love everyones input. Not just the numbers. to give you an idea of me. i started trading recently and my trainer that i sit next too makes a few grand a day. i was wondering if i should focus on listed or stay with nasdaq. again, thanks for the input. all input will be helpful. even the jokes. mr bright, please shed some light.:confused:
 
Does your trainer trade listed or nasdaq? How have the other traders in your office been doing since switching to nyse compared to those that have stayed with nasdaq?
 
Originally posted by nwbprop
i have a predicament and would love your input(your input will be play a big factor). I am wondering if i should focus on trading listed or nasdaq. the firm i trade at primarily trades nasdaq but some have switched to trading listed recently.
I want to make the best money possible as all of us do. i want to know if the profit potential for trading listed is greater than nasdaq. i figure that the best estimate would be the top traders daily numbers of the traders who trade listed stocks. if someone could post it or send me a pm that would be great. I would also love everyones input. Not just the numbers. to give you an idea of me. i started trading recently and my trainer that i sit next too makes a few grand a day. i was wondering if i should focus on listed or stay with nasdaq. again, thanks for the input. all input will be helpful. even the jokes. mr bright, please shed some light.:confused:
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makes no diff to me. you choose. i will take your $$ regardless.heh heh:p
 
It seems that with todays markets it's a bit easierto trade the NYSE. The reason I have found is due to the spreads. NYSE stocks tend to have smaller spreads then the NASDAQ. In todays markets the moves are so small on avg, that it's easier to squeeze out a gain on NYSE. But I know traders who trade NASDAQ and do really well. It's all a matter of learning a style that is profitable. Your trainer should play a big role in helping you find a strategy that works.
 
Originally posted by cornholetrading
Does your trainer trade listed or nasdaq? How have the other traders in your office been doing since switching to nyse compared to those that have stayed with nasdaq?
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first i would like to thank everyone for the replies so far. i am looking forward to more. my trainer trades nasdaq. he stresses experience experience experience. he learned through experience. he expects the same from me. he will answer any questions i have at anytime though. thnx again for the replies.
 
All the traders that I know who are still doing well made the leap to NYSE from Nasdaq. There are more sectors to trade, higher priced stocks, and less noise to deal with. The ones that stayed with nasdaq are still struggling. Some of the ones that stayed with nasdaq have had million dollar years scalping nasdaq stocks but are still having a hard time making money now. I made the switch and find trading nyse much more consistent for me. Most all the people I know who now make consistent money have switched over. I guess the best would be to have a strategy that worked regardless of the market structure.

Having said this I think that if someone is training you and is making a few thousand dollars a day trading nasdaq stocks then obviously he has found a better and more consistent way to trade them then I do or then the traders I know. Obviously if you know what you are doing there is still a lot of money in both markets. Since you are actually getting training then it might be a good idea to follow his lead. I am also assuming when you say a few thousand you are talking net because I know some prop traders who can trade a million shares a day pull a couple of thousand gross out of the market and still get paid out, which does not fly at most commission paying firms.
 
Originally posted by cornholetrading
All the traders that I know who are still doing well made the leap to NYSE from Nasdaq. There are more sectors to trade, higher priced stocks, and less noise to deal with. The ones that stayed with nasdaq are still struggling. Some of the ones that stayed with nasdaq have had million dollar years scalping nasdaq stocks but are still having a hard time making money now. I made the switch and find trading nyse much more consistent for me. Most all the people I know who now make consistent money have switched over. I guess the best would be to have a strategy that worked regardless of the market structure.

Having said this I think that if someone is training you and is making a few thousand dollars a day trading nasdaq stocks then obviously he has found a better and more consistent way to trade them then I do or then the traders I know. Obviously if you know what you are doing there is still a lot of money in both markets. Since you are actually getting training then it might be a good idea to follow his lead. I am also assuming when you say a few thousand you are talking net because I know some prop traders who can trade a million shares a day pull a couple of thousand gross out of the market and still get paid out, which does not fly at most commission paying firms.
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thnx. yes talking net.I appreciate your response and am still listening.

jc:D
 
Originally posted by Marc to Market


That's funny, I thought that NYSE stocks had larger spreads than the Nasdaq securities. For example, take a NYSE stock trading at 50 cents. The bid is .50 and the ask is .51. If you're trading it on any of the major exchanges (Chicago, NY, etc.) the spread is 1 cent. If you look at a similarly priced Nasdaq stock, the spread might be .50 by .51, but chances are it's much tighter amongst the MMs and ECNs since you can go out 3 to 4 decimal places (i.e. .501, .5015, etc).

Just some food for thought.

Marc
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I was referring to stocks that are priced over $10. If you stick to the NYSE quote, they tend to be smaller. Other exchanges don't really matter cause of the low volume and no real liquidity being provided there, that's why the spreads over at the Chicago, Phili, Pacific are that wide. Unlike NASDAQ the only quote I'm concerned about is the NYSE.
 
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