My favorite comment on this was from Chisox.... Hilarious Attain prop traders are doing it as well as the LSPD MKXT traders. SOme are doing pretty well at it.
Only 3k a day? Why even bother. Of course, thats the average, I assume the good ones are making 10k or more, and I MAY be interested. What does that take, 20 or 30 million WCOMQ?
Here is the deal with NTRD. They pay you 2.5 per thousand shares traded minus losses and minus ecn fees. So if you do 1,000,000 shares, your gross payout is 2500 for that day. To do that you have to risk 2 - 4 cents if it is a volatile stock. So you can try to buy 100-250 k shares a time with momentum of the stock against you(because you will the last one standing for someone to hit you). then in turn you have to sell it the same price or better to make money. But if the stock goes against you, then you have to sell out and pay high ecns fees.
I really would like to know the overall sentiment from those of you doing / attempting this. We are debating the pros and cons to charging ECN fees and offering the flow through liquidity payments. So far, most of our people don't want it...but, please keep the comments coming... Thanks Don
it really doesn't sound any different than just getting a discount. I don't know how a person can make a living off of getting discounts, they still have to make a gain on the trade somehow.
Didn't realize there was already a thread on this. I posted this in another thread just a short time ago. Any input appreciated