My guess is that there are at least 10 times as many Nasdaq as NYSE scalpers who make steady profits. The good NYSE scalpers tend to be old-timers who have worked on or near an exchange floor.
why make a statement that you have no knowledge about... good nys scalpers tend to be old timers...lol btw it is much easier to scalp nys stocks than nas
Why do you say that? How do you know it's easier? There are just as many traders here that went from NYSE to Naz as the other way around. If you think it's much easier to scalp NYSE then why even trade Nasdaq? Common sense would stipulate that all the traders would rush to NYSE if it was so easy. Exactly what happened in 2002 when bullets came out and size scalping on NYSE was easy enough for even a monkey to make money. Scalping off the NYSE Open Book has been dead for almost a year. There are maybe like a handful of traders that still can still be net profitable from the sizes in the Open Book and it aint big money. NYSE Open Book has just as many fake bids and offers as the Naz Level 2. I was always under the impression that there are more Naz traders than NYSE. The guys that trade both seem to be trading mostly Naz. There are just more opportunities and thats where the real flyers are.
Actually, most firms focus on NAZ. In 2002 some NAZ traders started gravitating to NYSE because of the cheap prices of NAZ stocks and increased volatility on the NYSE, but in 2003 most of these traders went back to (at least primarily) NAZ. NAZ definitely has, as a whole, more volatility (ie bigger swings in stocks, which is usually a plus for traders). But they both have upsides and downsides!