I'm all for you szeven, good job and keep it up. Start small get a system and run with it. Along the way you will learn valuable insight, if you stick and learn from the right and knowledgable people.
to get the 1 million shares a month/.001 commission at Genesis, you'd only hafta do one 25,000 lot LU round trip a day. the .002 liquidity rebate would cover the commission on both ends. making a penny on the trade, or even a sub-penny would be icing on the cake. worse comes to worse, when you see the buyers thinning, and about to go down a peg, you can just bang out @ market, breakeven on the trade, and pay the .001 plus the .003 to take liq. at HLV it would probably be even better since they have the option of paying per print. on April 19th, goodpunk did 329,020 shares and only paid $50 in commissions. if i did that many shares, i'd pay over $1,300 not including ecns.
my commisions are open to anyone on the street I know that for a fact. Any trader can take advantage of them and pretty much any broker with a brain would let you have those commissions if you did atleast 1500 trades a month. Cheap commissions are everywhere now, you dont have to look very far to find them or to negotiate them. I can buy 100k shares of LU using my SCHB route, and pay 2 bux and it routes to SDOT. I can pay 100 bux on 100k shares of LU and pay .001 cents per share, which would you use?
that last example was using ARCA.. Now I can use BRUT and pay nothing taking and adding. The street just keeps getting better and better and trading becomes more and more commoditized.
$2 total?!? damn.. i gotta switch up brokers and get a piece of this rebate action before it's too late.
Thanks for your PMs, I appreciate the attention. What you're upset that I can show your gimmick trading for what it really is? LOL I suck at trading, dude I actually know what real trading is and how to do it successfully. What you think you're hot sh*t? With double your commission rates I would bring in an extra 10k a month and I do not even aim to flip 5-10k blocks for a measly penny. WTF do I need your help for, I know exactly how you "trade", it's a simple gimmick and I have done even with my rate when it's obvious free money but I don't panick over 1 penny. I can go and get your deal tomorrow but I would have to give up my trading style and become drone that just knows how to hit buttons fast. Stop misleading people. You can only make money because of some gimmick that involves below rock bottom commissions and rebates. What you are doing is not even real trading and is laughed at on the street. Your "5k average" will dissapear when rebates are gone and when firms will buckle under these unsustainable rates. Do you even get 100% payout with these gimmick rates? That penny crap does not have much left in it, there is less and less of you everyday. New guys may look at your P&L and think that it is possible when in reality it's not unless you're getting into a share quota agreement and special per fill rates. You can only "trade" a certain factory like style under these rates. I feel bad for new guys that get suckered into that type of "trading" because they learn absolutely nothing and just gain bad habits. I'm sorry, but when the edge becomes the incessant war for the lowest rate, that's a bad sign for the industry. Either this market will blow these penny/rebate traders out like it slowly has been over the past few years or it will simply turn into one big penny churn fest.
Why are you so upset with the way he trades? Not real trading, LOL. I guess you're the authority to determine what qualifies as "real" trading. Who cares as long as he makes money? It may be a temporary edge. The smart thing to do would be to milk it all you can while it lasts. When that edge goes away, you adapt and move on to something else.
"More like absurdly low commissions and redundant penny "trading" that relies on rebates." That's all I said, as if it is incorrect in any way. So all of the sudden I'm labeled as an unprofitable poor begging trader. You should hear the opinions of top traders in NYC on the subject, lol. Ask any rebate/penny trader and they will tell you the specifics. You cannot go ahead and flip for pennies and then attempt to try out VLO, KBH, TOL, ANF. It's a gimmick, nothing more than that. I dunno if you have ever seen a room full of rebate/penny traders. Kinda sad. If anything it confuses guys who are trying to learn how to really trade. Whatever, I'm sorry I ever posted anything, certainly did not expect a reaction like this. You're right I'm wrong, penny traders are billionaires and rule this market and I live in a garbage dumpster by Times Square. Come visit me, I'll show you the best spots to pick up scraps and to find pennies.