Wow...the pioneer of direct access trading is no more: Terra Nova Trading LLC http://www.terranovatrading.com/ Personally...would like to thank the company for starting an excellent service for traders... And further kudos for the success of ARCA and meeting its major goal by merging into and changing Grandpa NYSE... Awesome accomplishments !!!!!!!!!!!!!!!!!!!!
Hey CDN.... When you click on the above link...their LLC is no more... This is how their business started...with real tick re-sellers and independent vendors who ginnie pigged the beginnings of ARCA...There were quite a few at one time...now they are gone... Has nothing to do with the current Terra Nova Online division... My thanks are directed to the ginnie pigs who took the initial risks and for whatever reason failed to stay in business....they really started the direct access business....bunch of cowboys.... Anyway...hat's off to those guys...and thank you ARCA... ARCA merging with the NYSE and thus changing the trading business along with the development of the internet applications are awesome feats in my book... Thanks again guys.....
Just another point... Is it not strange how a company can invent ARCA and create a better trading world by forcing the NYSE's hand...cutting commissions to the bone...in the entire industry.... does not wish to compete in the high end retail trading market...? They own the transaction technology...one of the best combined charting/execution packages...self clear... But yet are not competitive in the high end retail/professional trading market ???????? Very strange.....unless they are getting ready to release a real competitive product...you would think that they would be in such a position....
daveb351 Tradestation...Cybertrader...and IB with Medved..... are far more competitive in the retail sense..... ....and in terms of professional traders....they are not in the same ballpark with Genesis etc..etc... and these guys created ARCA ?????????????
Stock trading as a mass, retail phenomena is dead because rapid trading for large numbers of people is a losing proposition. (Yes I'm including swing traders here... anyone who intends to make money beyond what is available through participation in the organic growth of a company's re-invested profits.) Its a mathematical law. Frequent (and profitable) traders win because they are trading with people who are giving up an edge. You can't have masses of people enaged in frequent trading AND winning. The Etrade world portrayed in their ads is ridiculous... be brave, be smart, be bold.....BWaahahahaha!!! Who are those dopes trading against? Themselves! How are they going to make money? The frequent, direct trading brokerage is, at best, a limited 'boutique' type of business model which provides high performance, low cost, professional systems to the handful of professional traders which exist.
daytraderpete... Houtkin was one of them...and used Real Tick... Quite a cowboy indeed... ...................................................................... The real question here is why haven't the ARCA folks wanted tocompete in the professional trading arena... Now they have the potential to have an unbeatable business model.. Whereas other firms have an edge because they have their own technology...The ARCA folks own ARCA as well... Why do they not want to compete ????????????