They don't care. They are not traders and the feel they know best for all. Hey, what's 5 milliseconds, right? We'll just add on 40 ms more. :)
I think it's going to be a mess to implement street wide.
http://www.sec.gov/divisions/marketreg/rule611faq.pdf
Thank you everyone for the comments. Best of luck.
"The market maker is doing his job in a thin (if you could even call it ) market." That's not what I call a MM doing his job. That's called...
Firstoff, I have many systems and styles. I've been at it for a while. Because of that, I have many stories and a ton of situations I went...
"Maybe they didn't bust initially to teach you a lesson (on how to enter orders properly). I am sure you will take the time to get it right next...
" Did you give the reason for the error that you meant to enter a sale? If so, that could have had an impact on the NITE's decision." I...
Thanks for the reply. It was a system I have that was a mix of automation and manual trading. I wasn't trying to be the advantaged party...
No, it wasn't a market order. It was a limit order I wanted to place.
Yes, Bitstream is correct. I made an error.
The reasoning was that the trade was inside the bid-ask. Basically it was illiquid and there was no ask even close to market. That excuse is...
I mean, trading is pretty stressful and I have been in the thick of it many many times. When they came back stating this trade was going to...
It's too bad they are going to ruin one of the best ECN's left today. I guess that's what happens when you don't have the smarts to build the...
I guess they give a new meaning to their saying: "Where the trade gets done" .
When I was looking at the level 2 screen, I hit NITE through Sumo.
The trade was executed through Supermontage and wasn't an ECN. I completely agree with what the outcome would have been if I hit an ECN through Sumo.
"http://www.nasdaq.com/about/RuleFilings/Filings2004.stm The last post in the above link is NASD Rule 11890 (their guidelines are on page 5)...
I exited the position at the 1k loss and moved on. The time and money involved in escalation is just not worth it. Nasdaq knows this just like I...
I agree with the fact that 30 was complete BS. The MM wouldn't adjust to 25 or even 28. I had to take it or leave it, per NASDAQ. If I didn't...
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