No I just input trades using Fidelity Active Trader Pro with manual entry. It does not have the ability to upload orders from a spreadsheet so there is manual labor involved if you have lots of orders. They have an API?
as long as my order is filled, do i need to care about how hft is doing? if they can predict whether my order is good or bad, they can do so without my order anyway, given my order is so small. only if citadel intentionally does not allow price to pass my limit. you think that is realistic for 1000 shares on apple to change market direction?
So people who use passive limit orders via DMA brokers are getting rebates. Sometimes they get more than they pay in comissions. The only people that benefit from zero commission, imo, are the people who take liquidity on thick stocks and are not concerned with a few pennies of slippage. Of course we haven't had really volatile days for people to experience what it feels like to get your stops slipped.
Yes, it's very realistic on a regular day. You will see price bounce right off your order by a penny while you watch in disbelief. Magic!
Lol, 50k usd in commission per year and you seriously think you gain a cost advantage by going with a no commission broker? Either you are swinging extremely large positions (multiple million usd notional a pop) or you are insanely naive.
EXACTLY, and this is the only one single reason where it makes sense to switch to such business model. All else is just a reflection of the retail trader not understanding the fine print and ending up with a net inferior outcome. And good luck obtaining the order trail in case of a dispute that may decide over large sums of money. Flash crash ring any bells? Busted trades will set the heads of those naive guys straight.
Maybe I am being naive. Maybe its too good to be true. But that is why I am running it side-by-side for a while to see for myself.
if you are not minute-time-frame traders,why do you need to care? if the stock wants to go down, it will go down regardless of your 1000 shares.
Why do you need to care about zero commission when a $0.01 move on your 1000 shares covers it and more?