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tango29
 

Registered: May 2003
Posts: 979

 

06-14-05 08:51 PM

I'll try to get better at posting. I'm going to post my scalp account. I go to this when I'm not in a trade from my daytrade plan. I started doing this to fill in dead time, and I admit to not having a formal plan for this method, so possibly this will be a blow out on some day in the future. Keeping it small as part of risk control,ie 1-4 contracts.
Gross
Short ES 1208 0 0
Short ES 1208 0 0
Short ER2 634 0 0
Short ER2 634 0 0
Long ER2 633.8 20 20
Long ES 1207.75 12.5 32.5
Long ER2 633.6 60 72.5
Long ES 1207.5 37.5 97.5
Short ES 1208.25 37.5 97.5
Long ES 1208 62.5 122.5
Short ER2 634.4 60 122.5
Short ER2 634.4 60 122.5
Long ER2 634.3 70 132.5
Long ER2 634.1 100 162.5

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tango29
 

Registered: May 2003
Posts: 979

 

06-14-05 08:53 PM

That didn't post all that neatly, sorry.

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mksummny
 

Registered: Jul 2003
Posts: 417

 

06-14-05 09:02 PM

AMEX charges outrageous fees if you go directly to the specialist. The best way to play these if you are going to buy them is to use ECN's. ARCA and INET charge different structures on amex listed but BRUT is now completely free to use on these stocks both taking and adding liquidity. I do have a route that is free that goes to SCHB, he routes stuff directly to the floor but I dont use it that often because of the speed. you can read about the amex fees here
http://www.amex.com/amextrader/
but beware if you send stuff to the specialist you are basically going to get hosed on fees. they all basically add up to a penny are share. Multiply that by a few hundred thousand shares and its pointless to even trade on that exchange. However, ECN's are the way to go. you can read there cost structures at the following web addresses. Most brokers nowadays will allow the pass through fees to go directly to the customer, including both fees assessed and rebates from the various ECN's. I hope this answers alot of your questions and the PM's that I have been recieiving.

http://tradearca.com/traders/fees.asp

http://island.com/subscribers/equitytrans/fee/fee.asp

And the best one now is BRUT! you can trade for free on nyse and amex(excluding ETF's)

http://www.nasdaqtrader.com/trader/...ing.stm#caesits

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Szeven
 

Registered: Dec 2003
Posts: 1365

 

06-14-05 09:59 PM

I will start posting my blotter tommorow (i dont trade from home) to keep this thread going. I'm not sure how to do it yet but im sure i can figure it out. Im new to trading so its nothing much, but i enjoy seeing others so i will post my own.

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SethArb
 

Registered: Jan 2002
Posts: 5939

 

06-14-05 10:30 PM

isn't the liquidity game going to be ending soon?

also ... how do liquidity traders manage to get out of a bad position without blowing up their days / weeks profits ?

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mksummny
 

Registered: Jul 2003
Posts: 417

 

06-15-05 02:04 AM

I dont really know if liquidity trading will end anytime soon. I dont want to seem like that is my style of trading because it is not. I use it to fill my "down time" as I say. Today for example you could not help but liquidity trade WBR. It had so many upticks and downticks at the same price that you could of done mega size 500k or more at a time and come away with rebates. Most of my trading is done in the scalping sense, I would say 90% of it. The other 10 % is made on rebate trading. That game is fading out into oblivion but there is no need to write it off until its completely gone. there is alot of money to be made trading that way. I gave the example today of WBR, who would not want to sit and make 5-6k a day for liquidity trading a stock that had no price movement whatsoever and it is something that you could teach a monkey to do. Its not hard and it pays well, that is why I occasionally still turn to that side of the business.

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