Ticker, I would appreciate it if you'd elaborate on the "Institutions can even hook up with capital market divisions and trade for free!" remark. Tia, Bachelier
Don, No offense but this is pure rubbish. I defy you to provide evidence of how the ARCA ECN will improve REDI+ software. Their architectures are not related in any meaningful way. Your uninformed and anti-technology stance has done nothing but disuade any intelligent trader seeking the best technology from ever trading with Bright Trading. When you lose enough experienced traders you will eventually realize that great software makes good traders better. PERIOD.
Capital Market divisions of broker dealers will only deal with Instutions and other BDs. They don't and will not talk to public investors. If you send an order to etrade, etrade routes the order to Capital Market divisions of other BDs. E doesn't pay to have the order executed, they get paid (payment for order flow). My first position at a hedge fund......we traded 50K blocks no more no less. We never paid a dime for commissions, but charged the clients for expenses.
So you traded in 50k blocks, but what if you wanted to trade less? Do you have any idea at what volume they would draw the line? Thanks.
we can keep this going, or simply "agree to disagree" ...I will match my best traders, armed with an antiquated DOS based DOT machine against anyone with all the bells and whistles. All we can do is: "buy, sell, or cancel" - sure it's fun to scale orders, direct orders, automate and all the rest... but we must ask ourselves..."is all this "stuff" really gonna make me money"? And we all the answer is "no."...it is the trader, not the stuff. We are all "driving" Indy cars, some are different, but the drivers make the difference. I respect your opinion, and we can shake hands and smile....let's just keep focused on making money. Don
I REALLY hate responding negatively to every single thing you write and I don't want to come across as offensive. If you simply backed up your claims with facts, answered specific allegations (such as how ARCA will improve REDI+), and stopped using "congeniality" to redirect attention from the tough questions, I would have much more respect for your viewpoint. It is important that traders get the facts. The facts are that ARCA has done nothing to improve REDI+, and I can't see how it will. As for software, if you want to argue that software which improves a traders efficiency and decision making is of little value, then that is your choice. But that is not a logical position, and not something I would claim in public if I were you.