In short, with an MM it is usually the same guy trading the stock throughout the day (I'm sure there are breaks taken). However as pointed out by others, the symbols that you mention are NOT market makers but rather ECNs where there are literally thousands of participants ----------------------------------------------------------------------------------- I forgot to say that most mms are either partners or owners of ecns and even though i can't buy thru them they can sell and buy thru ecns and often do to fool the people who trade only off the level 2 screen so you really don't know if its a market maker or not on the ecns bid and ask so even if you believe theres a huge difference between the 2 there may not be, alot of times its the market maker using the ecn
(said I wouldn't, but what the hell) Well, thanks for enlightening us with your vast knowledge of ECNs and MM (from a guy who didn't know the difference a few posts ago). In short (again), your statement shows (again) that you don't know the very basics about DA trading. First, "most" MM *aren't* "either partners or owners of ECNs". "Some" does not anywhere near constitute "most". Second and most importantly, a MM using an ECN is bound by very different execution rules than an MM using his/her own designation on a LVL2. Once a MM goes onto the ECN they are simply another player on a level field with you and I, big or small. Contrary to your inexperienced assertion, the difference between the MM and ECN stays *EXACTLY* the same whether there is an MM there or not. JB
Soon to become your famous last words Hahaha Listen to Turok, he knows his shit. And btw, a lot of this info was covered by the S55 exam.
back in the days of selectnet and mm's backing away i could see the big difference between using a mm id or and an ecn. These days with super montage and auto ex I don't see a difference. Most of the ecn's have decrements and hidden sizes like you can do with mm id's. The only thing I can think of is that mm id's have to be both on the bid and offer a certain distance from the nbbo. is this what you are talking about? scalp
laugh all you want but tom i'm going to make money on ipix, and on tues i'm going to make money on ipix, and wed ,thurs ,friday thats a pretty good feeling, I don't care if the market opens up or down , I don't care which way it goes, I'm going to make money on ipix, short or long, doesn't matter because I know the stock and how it trades, I know what ma"s it follows, support and resistance and volume and I know how to trade it I have a system that works and it really doesn't matter if its ipix or any other flavor of the day, its just ipix has been good to me for a month or more and I know and how to pull money out of it, so i'll keep trading it until it dries up and I'll move on but probably not for awhile, as long as the volume is there as far as listening to turok, why should I listen to a guy that answered everything but my original question? I didn't ask him the difference between ecns and mms, he just assumed I didn't know, I didn't ask about direct access, I didn't ask him how to trade, I don't need to ask how, I already know how to trade, I have a system that works for me over and over again, no need to fix what ain't broke, keep it simple, I don't need to know it all to make money, I just need to know what makes money, and I make money all I wanted to know, scalp answered in a couple words like I said laugh all you want, but do you have the same confidence in your week , this week?
In your original post you clearly indicated you didn't know the difference between an ECN and a MM. If you did you'd have used MSCO, GSCO, MLCO, etc. instead of BRUT & CINN. But you said "I'm wondering if at a market making firm, does one guy trade the same stock all day long, everyday? say at BRUT,CINN, or whereever, is one guy sitting at a computer and trading the same stock?" That to me says you didn't know the difference nor do apparently know how an ECN works.
I am very happy for you that you are making money day in and day out. However just the thought that you will be able to do what you are doing FOREVER is such a sign of inexperience as a trader - it is almost NOT worth pointing it out to you. Keep hammering away and TAKE as much money as you can doing what you are doing, but things will change and your TRUE ability as a trader will then become how you 1) identify the change; 2) and adapt to the change. Sounds like you will be able to make the adaptation - BUT I have to point out how much of a newbie your posts imply. All the best, PQ
IPIX is one of my favs also. Made +1.40 per share on it with 2 shorts. Open bell and at 10AM. As long as you know how to read the level 2 and know where the momo is going you should be ok Samuri....
I haven't been able to borrow these shares at all for a while??? Who are you IPIX shorts trading with....