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SammySOESa
Registered: Apr 2004
Posts: 520 |
06-16-05 12:55 AM
my day ended out pretty well thanks to the rallying Q's.
mksummny, i was wondering.. do the larger limit orders get quicker fills on the ECN's, or is it still first come/first served basis regardless of the size of your order? i was placing orders all day on these WBR/EAG/LU-type stocks, and couldn't get a fill if my life depended on it.
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mksummny
Registered: Jul 2003
Posts: 417 |
06-16-05 01:35 AM
Well I came home early and traded a little at the end of the day, makind some decent bank on ELN and ASTM. I ended up 5200 for the day plus about 2k in rebates from EAG and WBR.
sammy to answer your question about the ECN's. Most of the time it is first in line just like SDOT for listed stocks. But on some stocks and ECN's you can jockey in front by using .00x decimals to go directly above someone. MOst of the time I have my orders in at the beginning of the day on WBR. Like this morning I was up at 7 am to have my orders in first, tomorrow I will do the same. So unless you use inet or brut to trade it ARCA is really the only cheap way to go. But I did notice today that most of the order flow went right to the specialist for most of the big blocks.
I find the www.mytrack.com order book to be helpful to see where my order is in line to others. You can go there tomorrow and see WBR ARCA orders if you wish. Now, while I do NOT use that info for trading, I just like to look at it once in awhile to see where I am in line on stuff like WBR. Also other thick stocks like HEC AVR and a few others when they start moving.
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SammySOESa
Registered: Apr 2004
Posts: 520 |
06-16-05 02:19 AM
oh, okay.. so it splits up all of the same price orders on the ECN book by time? interesting. thanks for the link. i'll check that out tomorrow.
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SammySOESa
Registered: Apr 2004
Posts: 520 |
06-16-05 01:07 PM
hey, mksummny. so that initial 50K is you? do you always have orders in on both sides, or do you ever wait until you get the fill? i see that new 700K order just hopped in front. is it possible that that was a sub-penny order that's not showing .11x?
i'd have to find a good pay per print broker. this would be cost prohibitive for me now since my current commissions structure is .004, w/.00175 to add liquidity (yea, my sub gets me for that .00025). two 50K fills would run $400 in commissions, and only reap $175 in rebates. what broker do you use, if you don't mind me asking? i wouldn't mind getting some of this rebate money on the side while i trade my other accounts. thanks!
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mksummny
Registered: Jul 2003
Posts: 417 |
06-16-05 02:14 PM
sammy if you go to the www.mytrack.com website and punch in WBR, under the mmid box pick PACX (this will show you all the arca orders). You can see my 7 100k orders are in for the day. I use mastertrader as my broker. They are not a prop firm but rather a retail firm. Im not soliciting business but you asked who I used to I am telling you. the rates that I have are extremely low and are not what is listed on the website.
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SammySOESa
Registered: Apr 2004
Posts: 520 |
06-16-05 04:00 PM
ok, i see. i don't know why i went to the arca book when you gave me mytrack last night. so you were that 700,000, 7:52 bid.
i know you don't wanna give away too many secrets, but i don't have the 7 figure account to get your commish rates, so i'd need at least a penny move. you think i can have that news feed you used to catch that 2 cent EAG move?
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