NYSE Scalping

Discussion in 'Trading' started by Mecro, Jul 22, 2003.

  1. Mecro



    I dunno if anyone here does it but who the hell are these idiot traders constantly messing up trades. I was just in one where the short could have went an extra 5 cents yet some idiot had to start NXing out.

    The best was when ASO had 40000 shorts coming down and stepped through the figure just to get hacked apart 10 cents after the move. I mean, who the hell are these idiots constantly messing up trades? Whats the point?
  2. I concur my friend
  3. Dustin


    When there are 100 traders who get alerts to that situation there are going to be some who are willing to take the dime. The strategy is overplayed.
  4. Mecro


    A) Who says they got the dime? Most of these hacks get in like 2-3 cents before the short is gone. I see them do it

    B) So you're saying more money is bad?

    C) I'm making money cause Im not one of these idiots.
  5. Mecro


    Like right now, I'm in AZN and I'm watching all these shorts get out as the offer keeps getting refreshed. Just how stupid do you have to be to do that?
  6. Lets play a guessing game... :D You all get one guess as to what firm employs the direct-plus feature to death for scalping. And has all but killed its effectiveness.
  7. Mecro



    They hacked the seller and then some buyers came in. Of couse the stock did not bounce and the short that was at the figure stepped through.


    But then I made money on him regardless.
  8. Dustin


    What do you mean? Most firms have NX and as far as I know it works the same everywhere...?
  9. I am sure everybody has NX capabilities but my point was that one very large prop shop has 700+ inexperienced traders NX`ing against each other all day long chopping the flow up.
  10. Mecro


    More than one. Ours does but we get pissed at whoever messes up the trade with it and kick him/her out of the room
    #10     Jul 22, 2003