I don't touch the Q's nor any of the biggest cap Nasdaq, just meant that the specialist system doesn't make trading any smoother from what I've seen. The stocks that give "easy" 1/2's and whole points are usually the thin names that don't move at all most days and/or have wide spreads. I guess it really depends on which broker or firm you use to trade out of; I don't think my broker prioritizes their listed routing so perhaps it's more my connection than anything to do with a slow/thieving specialist. But there's something to be said for instantaneous executions that you just cant have on listed.
That is precisely why I switched to listed stocks. After trading Naz for a couple years, it's actually quite amazing to me to watch the S&P futs tank -- and see my long positions break out at the same time (or vice versa). Kinda weird. Was not used to that when I switched. -- Dave
the most difficult part for me going from Nas to NYSE was the psychological effect from the slower speed...it took me a bit to get used to (still adjusting)...you need to have more patience some of the upsides have been : price improvements......the slower speeds so if you lose connection or need to go piss you don't have to worry about coming back to a point loss...
I am still trying to get used to that too. I am so used to trading off and anticipating the future moves from trading nasdaq stocks that I will still blow out of trades because of the futures. I could understand thinner NYSE stocks not trading with the futures like in naz but what is strange is that a lot of the bigcaps do not follow the futures that well at all unless there is a big move. I am finding it better to trade with a trend strategy and just focusing more on the individual stocks that fit my trend strategies criteria rather than trading the stocks off of the future movements.
Yeah, I have a column in my minder that shows whether or not a stock is in the S&P 500 and even a lot of THOSE don't move -- or move contrary -- when the cash index moves. You would think the programs would kick them, but maybe there are a lot of sector-specific programs or something. I dunno. Very strange indeed. -- Dave
This will probably sound as the most ignorant post ... but bear with me. It seems that trading nasdaq and listed are two TOTALLY DIFFERENT STRATEGIES. (so it may not be that easy for one to switch? although everyone here managed to do that quite effortlessly)
It was not effortless. I had to totally change my head, my timeframes and my execution strategies. It was, in fact, very difficult to switch. -- Dave
thanks a lot for all the replies. Deducing from the responses, it is very tough to switch from nasdaq to listed and vice versa. Does success in nasdaq lead to sucess in listed? probably all depends on the trader