First time selecting order routes.. Any suggestions?

Throughout my short trading career I've not paid much attention to the routing of my trades until now. My new broker has a long list of routes, which I'm allowed to select. I'm taking liquidity on 90% of my trades. I trade NASDAQ stocks with a lot of liquidity and momentum. I place my limit orders in 500 share increments. Which would be the some of the best routes for my orders to get filled at the best bid and ask prices? Thanks

 

What Broker?

Bob

 

I meant to say prop firm. I'm with a prop firm for now. I didn't count the exact number but from a quick look at the routing list there are at least 60 routes on the platform.

 

You need to ask them what routes reduce your cost. Then ask them if they are dark or lite routes. Then you can choose. we don't have enough information.

 

Thanks will do. Although, reducing cost isn't my main focus when selecting the route. I'm mostly interested in my orders getting filled at the current price. As I grow in order size I would like my orders to get filled as much as possible. With a good route this shouldn't be an issue considering I trade highly liquid NASDAQ stocks. The one's I've heard most about are ARCA,EDGX,BATS,IEX. Is there one of these that tends to fill more shares than the rest? Thanks

 

If your Prop firm has a route that sprays a number of routes at once, that often works well.

 

I think that would be ideal. I'll ask them about that. I'm really looking to be able to get in and out of my trades fast. The ECN costs is something I can bare for now as long as I'm getting the fills I need on my trades.

 

Is this what's sometimes called a SMART route?

 

If you were our customers, we offer the LSPT route. I'm not sure where it goes or how it works, but it only costs 15 mils and is very popular for taking liquidity,

Good luck!

 

SMART routes are not always "SMART".