Thoughts on the uptick rule?

[tradethetrade]

I was hoping for this day to come...shorting anytime I want is a major plus for a scalper, stocks now flow much more naturally than before.

My only concern is with commissions because tons of traders aren~t using ercos, and products to short so prop firms are probably losing big on commish fees. That makes me wonder if they will raise our rates because of it.

 

[Beast84]

Quote from brazilianwonder:

I was hoping for this day to come...shorting anytime I want is a major plus for a scalper, stocks now flow much more naturally than before.

My only concern is with commissions because tons of traders aren~t using ercos, and products to short so prop firms are probably losing big on commish fees. That makes me wonder if they will raise our rates because of it.

Very interesting point Brazilian. Good Call

 

[CowboyBlue]

Quote from FXTraderWill:

My firm had erco, too, as a backup, but we didn't even bother using it - only two guys ever used it, because about 2% of the time our short product would go down or be shut off. Erco could only hit a three cent spread, though, whereas the product we used ("belx") would get you filled wherever you were printed. This meant that you could get bad fills as you couldn't use limit orders to enter short positions immediately, but it also meant you could tick a stock to make the offer step down and get short in front of it, and then after knocking the stock down, buying the offer yourself to cover your short and taking liquidity to go long to squeeze other people...

Yeah erco was a huge piece of shit but it was all we had, i hated having to monkey the spread around all the time to sell it down, and someone could just kill you by continually posting 100 share orders, cause it needed a certain amount of time before you could use it again.