This seems like an obvious error check. It's said in a backhanded insulting way ("you are trying to manipulate the market").
i know,but again-note: as a required by exchange clause. what we have right now is "super regulated" market for us,the mortals(PDT,sub penny etc restrictions,including the "check" on file). and wild west for WS boys. one more time-i can't speak up for what was there 20 years ago-but in 2000 or so-it was (imo) very 'public friendly' market. remember? free internet,free quotes for everybody,news etc. everything is open and avaliable for a general public. how about now? ARCA-$10 per account just to see what's in there.(use to be free for all). i was unable to find a decent quotes service even for money(i'm talking about reasonable price for a retail guy). can we get a full NBBO? nope..then what's better? getting a quotes over the phone or trying to day trade half blind,cause you have to subscribe to all exchanges and pay them a separate fees? i'm not sure.. there is no need for arguing about ->Number of New York traders at all time low. anyone can get an idea about current state of trading in US markets and number of traders here.just ask Baron about number of visitors by year. i'm pretty sure it's all time low too.
Dude, you are living in dreamland. Public friendly? Commissions were 200% higher, spreads were 50% wider, I had to actually pay for real time quotes. And oh lord, the holding of orders so others could jump ahead of you. Shit man, the trading firm I worked for robbed you blind.....blind!!!!! We got to buy bullets which didn't even exist that allowed us to sell ahead of you on short orders while you were waiting for an uptick. Meanwhile we hit the bid and drove the stock down 2 pts in your face and filled you at the low. That was "public friendly"? Or maybe you mean how futures traders would hold a deck of orders from customers and trade their own account ahead of your order and then fill you against theirs for a risk free profit? You mean that public friendly market? Or maybe you are referring to how insiders got to trade on info that you waited a week for to hit on the yahoo stock boards before you could act on it. LOL. Honest to God, this has to be some kind of a joke. I mean the markets were so crooked and corrupt. It was so bad back then that despite all the political connections, we actually had to send guys to prison just to give the appearance of order because there were just too many crooks. I mean have you read any of Frank Partnoy's books? Tell you what, pick up his book "FIASCO", read it cover to cover and then get back to me on how wonderful things were in the past. When you are done with that book move on to "The Predator's Ball" about Michael Milken. And if you have not puked out last night's dinner yet, take a gander at "Asylum" and see if you can hold your food down. When you are done with all that, come back and here and tell me about how unfair the market is today. But not a second before.
you can go ballistic on whatever,and go back to as far as f**1980's,but for one more time-i've trade and observe the US stock markets from 2000 and up. and i've made most of my money(no directional trades,always hedged\market neutral\super low risk) in 2002-09. from the day i've stepped in-it's just a downward spiral each and every day.. http://en.wikipedia.org/wiki/Regulation_NMS yeah..try to convince me it's all good...if it's all kosher..where are guys like Bright go?
Yeah, ugh, bullets were not from the 1980's, they only went away around 2002. And if you are struggling as a market neutral trader with the VIX at 6 I'm not sure what to tell you. Don't get mad that all the bullshit gimmicks are gone from the market. That was never trading to begin with.
These "statistics" represent pure stupidity at its finest. It is not a question of how many but how much. If you own a restaurant for example, would you rather have 3 customers that spend 2 grand each on caviar and expensive Champagne (total $6,000) or 100 customers that spend 5 bucks each on hamburgers and French fries (total $500)?
i'm not selling the air via vix options. i trade stocks. feel free to call what i do as a 'pair trading'(if back in a day couple hundred tickers short and another couple hundreds of longs can be counted as a pair.)
actually..that's depends...from my experience of a pizza delivery guy(yes..i've done that) rich people won't give you a dime(knowing that their tips are your salary). not only that-they give you a fucking check and they tend to write it after you deliver(more time spend) while poor folks are best tippers. why? cause they actually trying to help YOU.
Yeah dude, that's pair trading. And your struggles to trade pairs has nothing to do regulations. Your struggles might just be tied to the fact that stat correlation is just a teensy bit played out bud. Yeah, the day Grandma can run a fully integrated pairs program is usually a good sign you might want to sneak out the back door. And yeah dude, grandma was at one of Don's boot camps. I had a buddy that was at one of them and the avg age was 50+. It's time to exit stage left...
after 10+ years of trading hundreds of positions each and every day,having endless list of observations,backed with stats and backtesting,comparing my real results with a paper etc you are telling me that those regulations(that created sub penny,hft,order internalization etc) have nothing to do with my trading? stat correlations is one thing,but if you can't get any shares on winning trade no matter how hard you try to get in... from 82 % fill ratio all the way down to <20% now(keep in mind-losers are always filled in full)..i rest my case..good bye