I for one will definitely keep posting. People need to see that money can be made. I think and hope it will help people avoid the some of the pitfalls out there.
on those amex stocks you ever get hit by those amex fees? I was charged a fee by amex for executing a order over 5000 shares, I think that was the size.
I'll try to get better at posting. I'm going to post my scalp account. I go to this when I'm not in a trade from my daytrade plan. I started doing this to fill in dead time, and I admit to not having a formal plan for this method, so possibly this will be a blow out on some day in the future. Keeping it small as part of risk control,ie 1-4 contracts. Gross Short ES 1208 0 0 Short ES 1208 0 0 Short ER2 634 0 0 Short ER2 634 0 0 Long ER2 633.8 20 20 Long ES 1207.75 12.5 32.5 Long ER2 633.6 60 72.5 Long ES 1207.5 37.5 97.5 Short ES 1208.25 37.5 97.5 Long ES 1208 62.5 122.5 Short ER2 634.4 60 122.5 Short ER2 634.4 60 122.5 Long ER2 634.3 70 132.5 Long ER2 634.1 100 162.5
AMEX charges outrageous fees if you go directly to the specialist. The best way to play these if you are going to buy them is to use ECN's. ARCA and INET charge different structures on amex listed but BRUT is now completely free to use on these stocks both taking and adding liquidity. I do have a route that is free that goes to SCHB, he routes stuff directly to the floor but I dont use it that often because of the speed. you can read about the amex fees here http://www.amex.com/amextrader/ but beware if you send stuff to the specialist you are basically going to get hosed on fees. they all basically add up to a penny are share. Multiply that by a few hundred thousand shares and its pointless to even trade on that exchange. However, ECN's are the way to go. you can read there cost structures at the following web addresses. Most brokers nowadays will allow the pass through fees to go directly to the customer, including both fees assessed and rebates from the various ECN's. I hope this answers alot of your questions and the PM's that I have been recieiving. http://tradearca.com/traders/fees.asp http://island.com/subscribers/equitytrans/fee/fee.asp And the best one now is BRUT! you can trade for free on nyse and amex(excluding ETF's) http://www.nasdaqtrader.com/trader/tradingservices/productservices/pricesheet/pricing.stm#caesits
I will start posting my blotter tommorow (i dont trade from home) to keep this thread going. I'm not sure how to do it yet but im sure i can figure it out. Im new to trading so its nothing much, but i enjoy seeing others so i will post my own.
isn't the liquidity game going to be ending soon? also ... how do liquidity traders manage to get out of a bad position without blowing up their days / weeks profits ?
I dont really know if liquidity trading will end anytime soon. I dont want to seem like that is my style of trading because it is not. I use it to fill my "down time" as I say. Today for example you could not help but liquidity trade WBR. It had so many upticks and downticks at the same price that you could of done mega size 500k or more at a time and come away with rebates. Most of my trading is done in the scalping sense, I would say 90% of it. The other 10 % is made on rebate trading. That game is fading out into oblivion but there is no need to write it off until its completely gone. there is alot of money to be made trading that way. I gave the example today of WBR, who would not want to sit and make 5-6k a day for liquidity trading a stock that had no price movement whatsoever and it is something that you could teach a monkey to do. Its not hard and it pays well, that is why I occasionally still turn to that side of the business.
on WBR today I did 1,756,100 rebate volume on ARCA and 827,073 rebate trading on INET add them together .002 cents per share on ARCA and .0009 cents per share on INET and you can see where you can make some decent money, well enough to get you a ferrari if you want one..................
Didn't have time to work on formatting, so it will look like crap. Nice day for practicing and writing down some ideas for scalping as I was able to do this inside of shorts in other account. Minimal per contract profit, but inside normal trading looks like it maybe a way to add income. TradeType ContractName nFilled FillPrice NetPos NetProfit TotalProfit CumulativeTotalProfit Short ES 1 1212.25 -1 0 0 3850 Short ES 2 1212.25 -2 0 0 3850 Long ES 1 1212 -1 12.5 12.5 3862.5 Long ES 1 1212 0 25 25 3875 Long ES 1 1212 1 25 25 3875 Long ES 1 1212 2 25 25 3875 Short ES 1 1212.25 1 37.5 37.5 3887.5 Long ES 1 1211.25 2 37.5 37.5 3887.5 Short ES 1 1211.75 1 25 25 3875 Short ES 1 1211.75 0 50 50 3900 Short ES 1 1211.75 -1 50 50 3900 Short ES 1 1211.75 -2 50 50 3900 Long ES 1 1211.5 -1 62.5 62.5 3912.5 Long ES 1 1211.5 0 75 75 3925 Short ES 1 1210 -1 75 75 3925 Short ES 1 1210 -2 75 75 3925 Long ES 1 1209.75 -1 87.5 87.5 3937.5 Long ES 1 1209.75 0 100 100 3950 Short ES 1 1209.75 -1 100 100 3950 Short ES 2 1209.75 -2 100 100 3950 Long ES 1 1209.25 -1 125 125 3975 Long ES 1 1209 0 162.5 162.5 4012.5 Short ER2 1 634.6 -1 0 162.5 4012.5 Short ER2 2 634.6 -2 0 162.5 4012.5 Long ER2 1 634.5 -1 10 172.5 4022.5 Long ER2 1 634.3 0 40 202.5 4052.5