Yes I know that. My point is just that the speed at which limit orders are sent to get first in line at a level after it traded , or cancelled when an execution is not desirable ( the tail end Charlie retail sucker fill) suggest those good fills are obtained by ATS, unregistered or even registered without priority in the queue. I might be wrong. I know some manual traders place orders all over the ladder early in the day to get an advantageous place in the queue and they might have a part of the cake as well, but still...
Every time you quote something I say, just to make a response to it makes you look sad mate. It seems to me you want to look right. If I wasn't interested in the topic at hand, I wouldn't have wasted 30 minutes reading the bickering. I was anticipating some good information. Half of what's on ET these days are arguing idiots who think they're smart, and provide very little information, or practical information. If you're stressed from a losing day get a drink, and don't take it out on ET, you seem like a girl from High School who feels the need to skew everything into your own frame of reference. When in reality you're misinterpreting most of whatever I say. But, then again people who mis-interpret what others say, and stuff words in their mouth. Tend to do the same thing with charts. They mis-interpret everything a chart says than they shout at the market. Hey, hey, take it easy now. Last time I checked MACD is something I don't pay for. But, then again since you're strategy is supposedly worth more royalties than most of the main stream strategies I suppose you consider yourself intelligent. If you patent it you may be able to earn more money off of it. I was simply listing the alternatives. Not a either, or. I consider the many options one can take. Whereas you look for what may not work. Thus your posts are irrelevant. I said if you want to work with this firm, but don't completely trust them. Than use the NDA, otherwise don't work with them. If you feel the strategy is that valuable go get it patented, and sell rights to use it. Etc. etc. Also I am not an attorney so I wouldn't bother with finding out SEC laws, and etc. That's up to the OP's person in mind. That person's choice follows. Legal consultation, looking for a new firm, patents, or drafting legal documentation like an NDA. If I were to counter every single quote you said, and miss represented. I'd be the idiot for wasting my time. Because All it would lead to is more bickering, and wasted time listening to a wannabe trader. If I countered every response you would counter every response with more childish miss representing crap. I've met successful traders, and trust me they don't act anything like you. They know when they read crap, and this thread is full of it. We went so off topic, that we ended up in a feud of two people arguing about ethics. Obviously I don't care, none of you traders told this OP. About a prop desk that doesn't take your source code. That being said none of you were much of a help to this OP's original intention. Thus you've wasted the time of many people by having us gloss over a pile of crap, and that was my original point all along.
Perhaps the best (and safe?) strategy that prop firms to use, just a guess. Legal? With 100%/0% terms, how would they make any good money? Any comments?
"suggest those good fills are obtained by ATS, unregistered or even registered without priority in the queue." Nope. Wrong again. Contingent orders have the lowest fill priority in the queue by exchange designation, and are filled by timestamp as well.
OK. No problem. Where is the rule on CME website that indicates that TAG 50 ATS only submit contingent orders? I can't find it.
I think we have a language barrier, as you are making no sense to me whatsoever (and you seem not to understand what myself or others are saying. I wish you well. I did think this was an informative thread you started: http://www.elitetrader.com/vb/showthread.php?s=&threadid=176961
"Perhaps the best (and safe?) strategy that prop firms to use, just a guess. Legal? Any comments?" **WARNING; gross generalization, completely misrepresentative of our fine sponsors on ET and the securities industry in general. Please know that the appropriate regulatory authorities are maintaining vigilance and all is well.** From my personal experience and observation, I can say with a great deal of certainty that prop firms will go to the most extraordinary extents imaginable to maximize and leverage any hint of profit in their operations, whether the trader realizes it or not. And even when the trader realizes it, the prop firm will find a way to take more of whatever the trader manages to retain. If you are a profitable trader that stands out compared to the masses and worse yet are paid on a W-2 as an employee of a prop firm, and even worse still the expenses for your charting packages and software are deducted from your account but paid by the firm, please rest assured that your statements and your trading platform fill logs and your charting package and the rest of your IP sitting on those PC's managed by the IT staff will indeed find it's way to firm principals who trade their own accounts, and quite possibly to firm 'favorites'. And when you leave that firm, your shit will get distributed some more. Enjoy. Oh, the shenanigans I have seen and heard about are amazing.
Please don't avoid the issue by saying whatever you like to say, if you don't try to intentionally misunderstand the underlying isuue as you want to. I now plan to open a prop firm, a llc. I recruit traders as the firm's employees to trade for my firm. All of them are required to sign a well-prepared legally legal contract with my terms written by the best legal professionals. Can I call this a prop firm? If not, why not? What's wrong with that?
Interestingly enough that was when I was getting into options trading as a beginner. Probably wasn't the greatest start, but I figured out a lot of things from that experience. But, then again only people like Eric would dig into a persons past to talk crap about them. Again that was then, and this is now. If you don't understand English that's fine. Again you just proved my point. You pointed me into another argument that had nothing to do with the point at hand. Regardless of the case, you yourself said you were gonna give me the last response. Yet again you feel the need to reply, and I predicted that within my own statement, and you completed it. I just predicted another troll on the ET forums. *sighs* they never end do they?