Market makers threaten to cut me off?

Discussion in 'Trading' started by NanoTick, Sep 1, 2006.

  1. and how exactly do u route directly to mms, for example on the qqqq[?]
     
    #11     Sep 2, 2006
  2. I'm with RML Trading. Everything has been going well until this issue came up.

    I am trading both listed and OTC stocks. In the software I can select either ECNs or MM to send my market orders to. Since I want to avoid the ECN fees I usually route to one of the MMs that does not charge a routing fee. This apparently is causing the problem, according to the broker.

    Is it true MMs don't like order flow from day traders?
    All my orders are just simple plain market orders. typically 1000- 3000 shares per trade.
     
    #12     Sep 2, 2006
  3. I never cancel any orders. I just send them market orders and take whatever the fill they get me. We are talking about only 20 orders a day.

    I'm just trying to make sense out of this.
     
    #13     Sep 2, 2006
  4. BINGO!

    "I am trading both listed and OTC stocks." <----OTC
    :p

    Bid whack'n

    limit buy/cancel/modify *repeat* reverse *repeat......
     
    #14     Sep 2, 2006
  5. Did they cite any reasons?
     
    #15     Sep 2, 2006
  6. nano tick as i explained you must be rapid firing some of the orders? if you threw in a market order every 30 minutes nobody would say a word i promise you.and you have to be keying on 1 stock. believe me it's not the broker complaining as he's making commissions and order flow payment. there's something you're not saying as for how you're trading with only 20 orders per day and 1-3k makes no sense why they'd be screwing with you. YOU HAVE TO BE RAPID FIRING YOUR ORDERS ON ONE STOCK TO CAUSE ANY UP ROAR. also what i don't understand is the mm should love you. on 1 k or more orders you're not getting autoexecution fills so the market maker has to be holding many of your orders for 90 seconds and killing you. why would you throw amrket orders of 3k shares in? i'm enver heard any exp trader doing this as they'll screw you to death
     
    #16     Sep 2, 2006
  7. No, my orders are sent about every 10-15 min (on average), and I rarely trade a stock more than once a day.
     
    #17     Sep 2, 2006
  8. NanoTick:
    Did they cite any reasons?

    No. Others had it happen to them too.
     
    #18     Sep 2, 2006
  9. Change brokers. No, that doesn't happen. Brokers welcome active and over hyper traders. They want you to trade. The more you trade, the more money they make. It doesn't sound you are using a direct access broker. Especially since you are talking about Scott trade and Ameritrade. They aren't even in the same ballpark as direct access.
     
    #19     Sep 3, 2006
  10. hotboats

    hotboats

    Nano, Im with RML, what software are u using?
     
    #20     Sep 4, 2006