In order not to give ET censorship an excuse (like off-topic) to delete my posts, I just copy here some post from another thread http://www.elitetrader.com/vb/showthread.php?s=&postid=202117#post202117
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options exchanges are crazy. what the hell is the reason to charge order modification/cancellation fee? Some European exchanges start to do this as well. All I can say is that these exchanges are desperate and will be out of business soon. They just take away the basic market principle from the investors and traders. Without the free (in the sense of both the money and the will) ability to cancel/adjust order as the market condition changes, it's just make us to fed the manipulators. $1.2, what a joke!!! fu*k 'em, don't trade and take some other job.
Pay me $1 for you touch that bread in my store.
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my friends told me that the trick of this order cancellation/modification fee is that it's soft, hidden, and nasty. you don't know how high it could run as the day progresses. there is no way to monitor it in real time until you get the final statement. there is no way to trace or check. no way to argue. they charge you because you did it and it's your own responsibility. watch out and stay away from whoever does this, or get a bite.
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SEC and NASD should really focus on the f*cking problems like this. crooks like Enron and Worldcom rather than on PDT. If they did something about Enron/Worldcom in 2001 rather than on PDT we would not be in this bullsh*t situation now.
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options exchanges are crazy. what the hell is the reason to charge order modification/cancellation fee? Some European exchanges start to do this as well. All I can say is that these exchanges are desperate and will be out of business soon. They just take away the basic market principle from the investors and traders. Without the free (in the sense of both the money and the will) ability to cancel/adjust order as the market condition changes, it's just make us to fed the manipulators. $1.2, what a joke!!! fu*k 'em, don't trade and take some other job.
Pay me $1 for you touch that bread in my store.
----
my friends told me that the trick of this order cancellation/modification fee is that it's soft, hidden, and nasty. you don't know how high it could run as the day progresses. there is no way to monitor it in real time until you get the final statement. there is no way to trace or check. no way to argue. they charge you because you did it and it's your own responsibility. watch out and stay away from whoever does this, or get a bite.
---
SEC and NASD should really focus on the f*cking problems like this. crooks like Enron and Worldcom rather than on PDT. If they did something about Enron/Worldcom in 2001 rather than on PDT we would not be in this bullsh*t situation now.