I usually play GS with the market. I know a guy that play it day in and day out. He told me he get better fills when he's in bigger size (1000 shares). I can't imagine GS going hybrid, its pretty horrible the way it is. So yea, you don't really know where he's going to fill you most of the time, but ECNs are usually there when you need them. I don't touch GS when its thin...
I dont know know what to base my trades off since there is no specialist to follow are there guys still making money who based there traded off specialist prints?
You need a nimble program that looks for 5 cent moves in a stock and then hits it on a sweep, or have trigger points already entered to take advantage of a sweep. Working pretty well according to my guys. Need to anticipate. Don
Whats a sweep and how do you base your entry points and exit points buyers and sellers are hard to read now with no specialist
Hey Don, I'm guessing your guys are taking the other side of the sweep? If a sweep order come in to wipe the book for 30-40 cents on the bid, your guys would buy into that to make the 20-30 cents? Or your guys would go in the flow of the sweep?
These hybrid bots are out of control. Every time I place a limit order, they jump in front of me. Scalping is becoming increasingly difficult in the nyse... They front run my 200 shares!!!
Are profitable traders still profitable or is this a adjusting stage were traders wont be making money for months?
Yeah, by having orders generated at the end of a sweep, or having bids/offers in place, they tend to fade the sweep. I've noticed that at times I may have a .66 bid on, with a .75 x .78 market, without changing the market, it goes "hybrid brown" and fills me, and then right back to normal pricing. And, yes, the guys who always make money are still making money...although adapting once again. Don