Mr. da-net Are you on crack? Where did you get the wild a** notion that I am not a retail customer? You certainly didn't get it from anything I've ever written here on ET. What a mighty swing and a total miss that was on your part. For the record - I am not, nor never have been a BD. I am not even a full time trader as I hold a normal wage paying job unrelated to the financial industry. JB
Phlub: >Another person said that this feature can serve you well - >and you are correct as long as the stock has a ton of >liquidity on the ECN's and regionals. I am that "other person", and again I don't wish to say or imply that your experiences or conclusions are faulty regarding routing. I will however say that your above assumption is incorrect. Our computer is allowed to trade *any* listed stock that has an ADV of more than 150k. We trade *many* stocks with marginal liquidity on the ECN's and again have had excellent average experience using SMART. Everyone has to use what works best for them of course. JB
da-net: >What the thread starter is asking for is >a level playing field, Phlub: >I was not trying to make any kind of statement >about "level playing fields, etc." No balls, two strikes on da-net. JB
^^^^^^^^^^^^^^^^ Phlub; Thanks for the word of warning and ; helping by mentioning semi-liquid stock=BG Have noticed more bad quotes in SPY & QQQQ on wide ranging days ! and; not to make a prediction, but on a multitude of candle charts ,BG is still making higher highs, higher lows, higher closes
To Mr. Phlub, I totally missed the major point of your post. Thank you for clarifying it. Please accept my apology for misconstruing what you were saying.
Me to Mr. da-net >>Are you on crack? da-net: >No, but I do appreciate your concern for my health. and later in the same post, na-net: >Again, let me thank for being so concerned about my health. That would be strike three when it comes to the accuracy of your assumptions on this thread -- I haven't expressed a single shred of concern for your health. As to the additional, apparently crack induced assumptions in your most recent post...I'll get to those in a while. JB
Me: >I can't quickly calc the number of listed shares we've >moved (millions upon millions) just in the last few months >using SMART with no problems. da-net: >Your reply of "we've" implied to me that you are >either a BD or a stockbroker or a very large >investment group. Funny -- and I thought that "we" only implied a described first person group of more than one. I have yet to find any documentation for "we" that implies anything related to a choice of career or employment. In this case "we" simply means two guys who share ideas, code, data feeds and a single computer programmed to trade while we go about our normal (but enormously wealthy and hugely monied) lives. >Your reply of "listed shares" implies that you knew the >difference between pink sheet stocks and exchange >traded securities. Ahhh -- yes...and of course, only a "BD, stockbroker or large investment group" could possibly be aware of that most obscure distinction. I see what you mean -- you've almost convinced me that my normal daily life MUST be a fraud since somehow I have been privileged enough to become privy to such tightly held secrets. I guess I must be movin' on up. >Your reply of "we've moved millions upon millions of >shares in the last few months" implied that you or your >firm or investment group was trading these. Finally a non-Bolivian based assumption. Yes, we have traded "those". >According to the data from the major exchanges >most people trade or invest in securities in the $20 >to $40 range. Good on ya...we use $30 as our number. >With that understanding then math tells us that >"millions upon millions of listed shares over the >last few months" gets into some pretty big money. What is this -- "Elite Investor"? "Elite Buy and Hold"? I think not. Let's remember that we are on Elite Trader and listen to that math one more time... 50,000 share a day is an ~million per month. This not only meets the requirements of my statement, but also happens to sit nicely in the range of what "we" trade. Take 50,000 / 2 and you get the # of position shares per day (25K). Now, I've taken you about as close as I'm going to take you to my finances, but let me toss out a few hypotheticals... 1: A day trader can purchase 25k of $30 stocks, holding them ALL AT ONCE with an account only mildly into 6 figures ($188k). 2: A day trader with a daily turnover of only 2x can exceed a million shares per month with an account of LESS THAN 6 figures ($94k). 3: A day trading scalper can exceed a million shares per month by going 8 (yes only EIGHT) round trips a day utilizing an account of only $25,001. (of course remember since there is a "we" involved, you can divide all of those account sized by the shared "two" to meet the described requirements. da-net: >Since you are capable of trading those volumes of shares >in listed securities in what must be a personal account, >then you must be extremely wealthy ... Yes of course, one must be "extremely wealth" to have a two way shared trading account that meets the PDT rules -- after all, that's $12,500.50 each. Even if you pick hypo #1 and assume we are doing it the hard way, it still means the "extremely wealthy" Mr. Turok only needs south of 6 figures to gain said data points. >... or make an enormous amount of >money at your job. Yes, that's it. Also that's the reason that I was unable to get back to you until today -- I actually work weekend nights (truth). >If it is the latter, ... It is. >would you be kind enough to share where that is. I am >sure that lots of people reading these forums would LOVE >to make money on that scale, ... (and as shown above, that scale is truly stupendous). I show up at venues and cater to the whims of people who want to watch major sporting events. >heck even I would consider returning to the work force >for that amonut of pay. Ok deal. PM me and perhaps you can work the Yankee/Red Sox game next Sunday. Pay starts at $7 for a 10 hour day (they provide lunch). Work hard and you too can make "enormous amounts of money" and be "extremely wealthy". Perhaps you will eventually even be able to own TWO fine automobiles of more than 10 years of age, just like mine. >I never was worth a hoot at baseball or most >sports for that matter. As your posts and the math shows, you are no better at assumptions. JB
This is hysterical! In stead of harassing Turok, I'd listen to him. He knows what he's talking about.