Who gets all these fess and commissions?

Quote from USMCinfantry:

You've been watching too many of those cheesy military shows.
More...

Cheesy or not, I liked their attention to detail.... like, a proper salute, not saluting indoors, not saluting uncovered.
 
Quote from gnome:

Cheesy or not, I liked their attention to detail.... like, a proper salute, not saluting indoors, not saluting uncovered.
More...

LOL, watch one of the scenes with the two central characters in the admiral's office. Half the time they don't even do an about face. And do you really think a JAG officer does anything but push papers. The way they talk to the SECNAV, a congresswoman, or even a CIA officer. Come on people, are you kidding me?
 
Quote from USMCinfantry:

In NASDAQ and the NYSE, I'm trying to figure out why these schmucks get paid on every single order, no matter how crappy a fill one gets or the fact that ,most of the time, they do absoultely nothing. They still get paid every friggin time. It sounds like the greatest gig in the world or the biggest scam on the planet.
More...


Wyckoffs observation 70 years ago about wall street still holds true today. "More money is made on Wall St. from Commissions and Selling opinions than is made from actual trading profits". used to be NYSE market making positions were handed down from one generation to the next, because before the ECNs came into the picture, playing the spread and your book was as close to risk-free "free money" as you could get.

For retail traders this is a Losers game. After paying commission and the spread, you start in the hole as soon as your order fills. imo retail traders who are profitable consistently belong to one of the most elite professions.
 
This was my point from the beginning. Yet, I was attacked right off the bat by a fellow marine. It is an institutionally unair and skewed system and eventually people will tire of it and demand a change.
 
Quote from USMCinfantry:

This was my point from the beginning. Yet, I was attacked right off the bat by a fellow marine. It is an institutionally unair and skewed system and eventually people will tire of it and demand a change.
More...

Yes but there is a cost of business so some commission has to be paid. I'm not exactly sure what your point is.
The specialist/MM positions, yes that is a total scam and both do nothing more than just get in the way and rip people off. ECNs have shown that there is no need for a Market Maker or a Specialist.
 
Quote from Hydroblunt:

Yes but there is a cost of business so some commission has to be paid. I'm not exactly sure what your point is.
The specialist/MM positions, yes that is a total scam and both do nothing more than just get in the way and rip people off. ECNs have shown that there is no need for a Market Maker or a Specialist.
More...


That is my point.
 
Quote from USMCinfantry:

This was my point from the beginning. Yet, I was attacked right off the bat by a fellow marine. It is an institutionally unair and skewed system and eventually people will tire of it and demand a change.
More...

Let me ask you this. Do you expect to do business for free? Name me one business in the world that doesn't have costs. Running a BD is high risk high reward just like trading the financial markets. I have been in the biz since 1996 and seen many BD`s come and go. I have seen a customer put a small BD out of business because they created a large margin call and disappeared. IMO rates these days are more than fair. A freaking penny a share is standard...if your prop I hear its something like .005 and lower. Is it to much for you to pay $1.00 to buy 100 CSCO? I apologize for attacking you so swiftly but so many "traders" come on this site to bitch about the smallest things. The last thing on your mind should be "whats this trade gonna cost me?" Good luck and if you get a chance check out the Trader P/L thread
 
You must log in or register to reply here.
Back
Top