nyse hybrid system

HoundDogOne · Oct 28, 2006

Quote from Triple X:

Yeah, it's great for hedgefunds. But for the pure discretionary trader, it's horrible.

Why is it "horrible"... for a "pure discretionary trader"?

I see a more level playing field as good for everyone... except Market Manipulators.

Bitstream · Oct 28, 2006

Quote from HoundDogOne:

Why is it "horrible"... for a "pure discretionary trader"?

I see a more level playing field as good for everyone... except Market Manipulators.

it will be good for discrete traders, better than it is now. only advantages on nyse as it is goes to arbitrageurs and institutions.

slickshal · Oct 28, 2006

destroying the average investor is exactly what they want happen.. dont u get it.. they are blatently doing it, everyone is aware of it, and there's nothing that cant be done..

what better way to do business than with the top descision makers backing you

EdgeHunter · Oct 28, 2006

Quote from Bitstream:

it will be good for discrete traders, better than it is now. only advantages on nyse as it is goes to arbitrageurs and institutions.

After reading the PDF i posted (slogging thru all of it... ) ... i concluded that during the time the HyBrid market is first fully in play the specialists will then have more of an interest in trending moves rather than fading moves... <b>you could get some really wild up and down days... </b>

a thought...

cj...

__________________
HAVE STOP - WILL TRADE

Bitstream · Oct 28, 2006

yeah if u can get in tho. it is tough to enter a potentially big winner on nyse now. u gotta keep tryin' and tryin' experiencin' enormous slippage in the meanwhile. i give u an example: couple of weeks ago i entered a long trade on ibm, the day after report and i had to move my lmt 3 times to get a fill; from .10 to .32 and finally to .50 before i could get in. those are substantial missed profits even with 500 shares...and forget about addin' obviously.

Quote from EdgeHunter:

After reading the PDF i posted (slogging thru all of it... ) ... i concluded that during the time the HyBrid market is first fully in play the specialists will then have more of an interest in trending moves rather than fading moves... <b>you could get some really wild up and down days... </b>

a thought...

cj...

__________________
HAVE STOP - WILL TRADE

trade4succes · Oct 28, 2006

the nyse is going down! why would anyone would prefer to send their orders to NYSE's awkward ecn when you can just hit island or arca. only thing that gave nyse their power was the trade through rule and that one is going to dissapear.

Bitstream · Oct 28, 2006

Quote from trade4succes:

the nyse is going down! why would anyone would prefer to send their orders to NYSE's awkward ecn when you can just hit island or arca. only thing that gave nyse their power was the trade through rule and that one is going to dissapear.

ecns are still not an option on many stocks that are particulary active only after report or after news, spread is unacceptable most times...hopefully more and more traders will transition to ecns and volumes will pick up enough to make a tighter bid/ask.

EdgeHunter · Oct 28, 2006

Quote from Bitstream:

yeah if u can get in tho. it is tough to enter a potentially big winner on nyse now. u gotta keep tryin' and tryin' experiencin' enormous slippage in the meanwhile. i give u an example: couple of weeks ago i entered a long trade on ibm, the day after report and i had to move my lmt 3 times to get a fill; from .10 to .32 and finally to .50 before i could get in. those are substantial missed profits even with 500 shares...and forget about addin' obviously.

Yes, i have noticed that even in the index futures... they don't pull back much when they really take a run now over the last 8 months...

cj...

_______________________
HAVE STOP <img src=http://www.enflow.com/p.gif > WILL TRADE

whitster · Oct 28, 2006

"destroying the average investor is exactly what they want happen"

the average investor? daytraders are not the average investor, nor are quants, or prop traders.

the "average investor" does mostly dollar cost averaging into mutual funds and stocks, and usually has the sort of time frame where he can buy with a limit order and wait for the fill.

so, all this hue and cry about the average investor seems to assume the average investor is interested in instant fills, level 2 screens, etc. the average investor doesn't even know what level 2 IS.

so, just cause u want system X, don't assume the average investor TRADES like you. he doesn't. he invests. not trades

Triple X · Oct 28, 2006

Yeah but NYSE now owns/manipulates ARCA, and the Nasdaq now owns Island. I think everyone missed my point...when the specialist is gone, that does not mean the specialist firms will be gone. They will use software to rape you instead. It's going to be just like Nasdaq. Not many traders make a living daytrading Nasdaq.