I was looking for a strategy that will work on any timeframe and therefore will account for any amount of liquidity I might require. found it. Need more liquidity - switch timeframe. that's it. that's not a secret to all. Each timeframe obides and lives by its own specific rules. One needs to know the rules in order to be able to operate efficiently in a chosen timeframe. (offtopic) ) execution will play a big role I guess, but I am only planing to trade big on 15 most liquid NAZ stocks
Conbar, Go for Genesis. It does cost $200 per month. It's the quickest system around. You'll have totalview (Level II plus depth of ECN books). They are NASDAQ platinum Certified. You have to negotiate everything. If you'll trade some good size, they can offer you the lowest prices in the business! They also have training accounts! You need Direct Access, because that's the quickest way to execute your trades. If you trade through Ameritrade it'll take way longer before your order gets filled. And it's probably also all smart routing, which can give you some bad fills too sometimes. Especially if you trade big size. But trading using Direct Access is a different chapter, you can find a lot of information on other threads about that. You definately gotta dig into that. But believe me, you need Direct Access to trade your size, or you'll be giving away money to the market makers. Good luck on your journey. I hope you'll make it. I hope you got a good grubstake. That's the only thing to make it with in this business! Just be as determined as you are now and never give up! Best of luck man, -Dave.
They are SIPC insured. But so was Refco. The REFCO retail customers got their money back, I'm sure. Send Genesis an e-mail and ask the about this. They'll be more than willing to explain you! Don't forget that Genesis is just a broker for Retail, Prop and Institutional. I don't believe they do trading for their own account. -Dave. BTW, SIPC insures all account for at least $500,000.
I am just worrying a bit - SIPC is not enough surely I'll talk to them. Just checked comments on them on the elite page - too good to be true (then it probably is ) thanx again
I have an apex account at ameritrade and it has been a while since I traded stocks but back when I was you could turn the autorouting off and actually route your order to a specific ecn or market maker.