Quote from catima: I could never get into the [rebate trading] style myself, although I honestly tried, I just don't seem to have the personality and style suited for it. What style is that exactly (seriously)? It seems that you either need the stock to get pinned down and go nowhere so you can make the rebates without the price moving against you, or be willing to keep adding to your position when it does, and "hope" it comes back. Right?
Somone posted on here that they knew rebate traders making millioions. Who? Where? What firm? I DIDN'T THINK SO!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! If people were making millions rebate trading than a lot more people would have been doing it. I know one such firm, Domestic Trading, that was supposedly invovled heavily with rebate trading. I heard there were more traders coming and going there than there were six shooters in a texas whore house!!!! Whomever posted that quote give us names of firms, where etc. You are full of sht!!!
the url you gave says: SEC Open Meeting Agenda Wednesday, March 6, 2005, 10:00 a.m. Do you know if the contents of that page are valid as of April?
I just didnt have the patience to sit there with 18 bids and 15 offers hoping to get hit on one of them. I traded stuff like YHOO that moved around a bit, so the chart didn't look like a couple of lego pieces lined up. I got burnt averging down when I was a trainee, so that really took it out of my system, I have some very strict rules when it comes from averaging down, and usually I'll just take my hit and move on to the next trade.
can someone post this ruling. or tell me where i can read about it. I hate .0001 shavers good riddance
I'm not sure I see how this rules out the possibility of locking. It seems to me that you could still lock and it would then be required that any market order be routed against your order before the previous bid (or ask) gets hit. This would be beneficial to rebate traders because it would increase the probability that their locking order gets filled. I believe this is accurate but if I have misinterpreted let me know.
All the articles that I've read dont mean much to me, as these talks have been out there for good few years. With regards to sub-penny shaving, it is only available on SIRI, SUNW, JDSU and QQQQ. JDSU is about to get a reverse split, so we are really only left with 2 stocks, SIRI and SUNW that are shavable for credit-traders. And really, all these articles only suggest removal of sub-penny shaving... again, just talks...
do you you think that you are a member of the specialist club and that because of narrow spreads you cannot feed your childern. you must have be one of those who could not handle the change to .01 increments