Daytraders a SERIOUS threat to our business

Discussion in 'Trading' started by Joab, Aug 1, 2007.

Will this hurt your business ?

  1. Yes

    8 vote(s)
    27.6%
  2. No

    21 vote(s)
    72.4%
  1. Joab

    Joab

    REG MS Routing or the new HYBRID system

    Today I hit a NYFX order to sell market 1000 RIG ...

    It literally took about 1 min to get me out and all at 100 share lots one at a time.

    This is highly unusual and an order like this use to take .02 - .05 seconds max.

    When speaking with my firm they explained to me this new Reg MS / hybrid system but even they can not get a straight answer from the exchanges as to WHY this is happening.

    I'm starting this thread as a plea to all active daytraders so we can ban together and see if we can get this resolved.

    All comments and suggestions are welcome.
     
  2. Dustin

    Dustin

    Sounds more like a firm or software related issue...I haven't seen anything like this.
     
  3. Joab

    Joab

    Where's Don Bright when I need him :D
     
  4. Agreed. What software are you using?
     
  5. Joab

    Joab

    Hydra
     
  6. bonds

    bonds

    im a daytrader and ive had some problems with the nyfix route... orders are delayed going out and fills have been awful, especially on fast moving stocks.
     
  7. Futures is the answer. Non MM games, 1 tick spread, full order book display 5 bid and ask levels, and execution within mili seconds.

    There are a lot of games inside DOM, but it is very different from stocks.

    I just do not get why there are still people out there day trading stocks whem futures are so much superior. I am taking about pure day trading, no position left overnight.
     
  8. nkhoi

    nkhoi Moderator

    they enjoy paying tax more?
     
  9. Joab

    Joab

    I hate this new system...

    The damn thing got me again today.

    -5% on 2 friggin trades that hit my stops (rare) to the tick and bounced right back to my entries.

    :mad: :mad: :mad:
     
  10. Who do you trade with? What destination are you setting as a default? Which stocks are you having trouble with?

    (Sorry I missed your 8/01/01 post, I must be getting old, LOL).


    Don
     
    #10     Aug 28, 2007