Scalpers Using Direct Access Trading?

Discussion in 'Trading' started by Scalpa, Sep 20, 2002.

  1. hey dickfeatures, lighten up! don't tell me you're still mad cos rained on your fibo-crapo parade... :D

    am i gonna be pulled up now for pointing out a potential 'vendor-in-disguise'?
    #11     Sep 20, 2002
  2. the real point of this thread is that Mr 'i-make-100-times-my-day-job' Big Scalpa thinks that all these DAT brokers are way too expensive for him...

    well, since he tells us he was already making 100 trades a day, he MUST have been using SOMEONE,........SO, if all the standard brokers are too expensive for him....who the hell was he using?? and why isn't he using them anymore??

    if dickbrains like sarasota have a problem with me putting up the tough questions, they can kindly put me on ignore......but i think most people would like answers to this stuff
    #12     Sep 20, 2002
  3. Scalpa


    Back before those scumbags at TD Waterhouse took over, I negotiated a restructured commissions schedule through At the time, they were charging $5 per limit order and I sent an email advising them of my highely active trading style. After going back and forth for a couple of days, we agreed on a set commission per limit order, provided I meet a certain trade quota each month.

    It's been downhill ever since. They have to be one of the fastest online brokers out there. My orders get routed immediately after being placed and the executions are superb. What more can you ask from an online broker charging super cheap commissions?

    Now I hate to be the bearer of bad news, but since the TD Waterhouse buyout, RJT has not only raised their commissions to $10, but offer no special deals for active traders. Their commissions schedule is not negotiable in the slightest bit--even if you make a million trades a month. Since the TD take over, I've had to bitch and moan on three separate occasions to get them to honor the cheaper commissions. Man do I hate TD Waterhouse with a passion! The one good thing about RJT is they seem to be pretty loyal to long time customers. For example, if you traded with them before the TD buyout, you're still eligible for the $5 commissions.

    #13     Sep 21, 2002
  4. Scalpa


    I never said all of the standard brokers were too expensive. I was just trying to find an adequate back up broker to see what else was out there. Since Don Johnson's site went belly up, it's been difficult to get the latest scoop on commissions. And, we all know just how fast commissions change, brokers go out of business, etc.

    And, not that you (or even I) give a shit, but I agree with the other guy on this thread in that you're extremely snotty.

    #14     Sep 21, 2002
  5. Carboxyl


    I don't see how you were able to scalp with an online broker? What was the average slippage on your trades? What's your turnaround time? I think in order to successfully scalp you are going to have to have direct access connection, you can't even choose your own order routing trading with online broker, it seems like a suicide to trade that way. With prop firms, I think you will get a way better commission structure if you do high volume, so you will get charge by (per share) rather than
    (per ticket).
    #15     Sep 21, 2002
  6. Carboxyl


    Nah, definitely not a new "craze", it used to make a lot of sense when scalpers would shave teenies here and there when Nasdaq stocks move up and down on 10 point swings every day. Now it's a lot harder but some are still doing it successfully.
    #16     Sep 21, 2002
  7. Hubert


    I have found that you can negoate about any deal you want if you trade enough

    DAT market is getting very competavie

    soory can type or spell
    #17     Sep 24, 2002