Posting this in the prop firm section because I see block trading as trading thick stocks that are low priced and you really can't be to profitable without routes usually not open to retail traders. EX: http://www.youtube.com/watch?v=kYamaIpPjXA So my question to you prop shop owners/traders/people with information... Is this still possible since C is gone? (maybe stocks like S,Siri, etc...) If so, is UBSPASS still the route to go with? If not, what routes? (I use JPMDARK, is there a problem with this? Benefit?) How are you getting out of trades? My personal experience: Playing with S I've been able to get fills rather quickly with JPMDARK but I have a problem unloading the shares... Here's an example: 1.10 orders of 1000 at 5.84 LONG 2. Get filled for about 5000 in about 2-3 minutes sometimes more sometimes less. 3. Use a smart route at 5.85 wait 15 minutes+ to get filled or get stopped out for a loss. So is this just not possible anymore? Or is there a route I should be using to get out? I have access to midpoints but I'd lose money if I sold there because of Fee's and commi.... Thanks for your help.
IMHO Yes but rather jumping into algo trading. Rebate/block trading is still profitable in pre-market hours on mergers(ex. http://www.youtube.com/watch?v=9ZkxHKNjjN8) or public offerings in pre-marekt & regular trading hours ex. http://www.youtube.com/watch?v=IsTbRtxT7CM, polish lang, to understand watch carefully level 2 and TAS. On BX it was possible to make 1, 2, 3 trades for 1c, 2c before traders filled NYSE hidden order. For trading in regular hours ask this guy from WTS Boston(probably) http://www.elitetrader.com/vb/showt...om WTS Prop in Downtown Boston&pagenumber=151 -> http://www.elitetrader.com/vb/member.php?s=&action=getinfo&userid=41250 They trade manually so maybe he could answer your questions especially how to unload shares.
Thanks guest for the videos will try and see what he's doing going to be a little difficult seeing as I'm not polish but I'll see! But I did not get what you meant by saying IMHO yes but rather jumping into algo trading Did you mean unless I'm an algo trader?
Yes, sorry for my english skills . Of course I do not say that using this strategy "manuall"(your fingers and keyboard) is impossible. Still algo is better choice nowdays.
That's alright but I completely agree anything that can be done manually can in most situations be done better by an algo!