I've read several posts on here where people spoke negatively about trading Nasdaq and I'm a bit curious to learn exactly WHY everyone seems to hate Nasdaq. Spoke with a prop firm, and got the same message along the lines of "professional traders don't even trade Nasdaq any longer..."...WHY? I'm asking because I exclusively trade Nasdaq equities and don't touch NYSE stocks since I've found the NYSE system to be very slow, and I always get bad fills on NYSE. Please enlighten me on why Nasdaq is referred to as Nazcrap and NYSE is where the "pros" trade. Thanks to all in advance. -FastTrader
I mostly only trade nyse, but it's not because I hate nasdaq. I just find the two to be very different and am used to the order handling rules and pace of new york. Things move slower on the nyse, but I'd rather have that than the feeling of trying to hit a moving target getting into a nazz stock that's just broken some support level or has breaking news. The specialist really does maintain some order to his market. But I'd like to get better at trading nasdaq, it just feels so different when I switch over.
lescor, thanks for your reply. So, your reason is the pace at which the NYSE market moves. That makes sense. I'd like to be able to trade the NYSE since it has such big movers, but every time I've tried trading a NYSE stock, I haven't had any success. The fills are slow. I've had time when I put in a Sell order below the current BID and it won't get filled. What's up with that? -FastTrader :eek:
I much prefer doing NSYE stocks as well, especially the large cap DOW stocks like CAT, MRK, GM, WMT, etc. You get big 1 pt moves all the time. I do intraday and my swings are typically a day or two.
one reason may be that $ cap. of the nyse is much larger than the naz, which means more money is in the nyse. and many significant naz issues are only in the 20$ range or below, making daytrading these less attractive.
quite frankly I think your all idiots. People that really know what they are doing, know there are better moves to be made on the nasdaq
I'm trying to learn to trade listed stocks and am having a heck of a time. I can't seem to get filled, even with direct +! What's frustrating is that my strategy has a very high success rate - I'm just not getting filled. I'll put in a buy order and on the Time and Sales I'll see trades going off at my price but I won't get filled. What the heck? Another thing that worries me is that most of the advice I've gotten on setting stops for listed stocks is NOT to do a stop limit, so once your stop is triggered and your market order is sent, who knows where you'll actually get filled? Do most of the listed traders on ET thus trade very liquid stocks in large lots (1000 shares or over)? I don't see how anyone can try and scalp for .25 or .30 with a .10 stop with illiquid listeds? Is anyone doing that?!? For example, is anyone successfully trading RYL or BZH nowadays? They have good ranges but how does one safeguard against significant slippage and low volume?
NYSE SUCKS THE SPECIALIST SYSTEM SUCKS (WHERE IS THE SEC??) The prop firms earn money if their clients trade NYSE -thats the reason they want their clients to trade NYSE- Nasdaq is by far better for a daytrader---for a buy and hold trader it makes no difference---but an active trader has to avoid NYSE in most cases !!! Good Luck