another hurdle, in the constant attempt to weed out the day traders...i pay over 100 grand a year in SEC fees, do about 7-10 million shares a month; adding much needed liquidity to the stocks i trade...and this is the thanks i get??? It seems like it takes forever to get a fill, everytime you send an order out market, and than they gap it down, fill u at the bottom, and than uptick it 20 cents higher... i say bring the old short sale rule....anyone agrees?
i guess its just me and u nichola... well, ive been getting some pm's regarding guys who want to learn more about day trading listed securities..if you guys have any questions..bring them on.. cheers,
I thought you were going to have classes, or were you just joshing? Be interesting to learn from someone who does listed and with your volume too. Thanks
i think the SHO rule is BS because no one wants to take the SHO stocks long anymore because they are afraid of getting smacked by a big short seller. but on the flipside, no one wants to short the stock because it takes forever to get filled on the market and large or crowd short sellers keep stepping back since they can short easily whenever they want. the end result is less volume and less volatility, which means less stocks that are worth trading.
livingston, I have a couple of questions about stops and getting fills. Do you have a fixed stop when you enter a position (meaning if a stock goes against you by x amount you automatically get out) or do you try to get a feel for the stock and allow it some breathing room? Also, how do you get filled on a large order (3000 shares up)? Do you do it in 1000 share increments? Same with exiting? Thanks in advance.
The SHO is complete BS...... but it actually introduces more volatility. Whether this is a good or bad thing is up to you. in terms of market efficiency, it is bad, because there is more chance that the security is mispriced. Also because people can't short the security, once it gets off the SHO list, if there is enough people who short the stock, it will drop more than its typical range. thus it introduces volatility. it could be good for options traders who are long vega, etc
REG (all fo) SHO is balony and will be temporary. Uptick rule should have been abandoned in the nineteen sixties.
Well, depends on the situation, i'd like to let you know upfront that there are no absolutes in trading. But here what i suggest to do, if you enter a position and you aren't very sure of it, sell 500/1000 shares, once you get confirmation than start barelling in. That way you can give your initial position soem breathing room; instead of keeping tight stops. But definetly, have some sort of risk management, and do get out in a timely manner, you can always get back in.... getting filled in large orders is really easy n/x1000, send 1000 buy market, hit the ecns, you can acccumulate size really easily...getting out is a bit tougher but you canuse a combinations of stops, market orders and ecn blast keys...... half the time when the "size" actually steps on to the tape, thats usually the end of the move, also when you are holding larger positions, you have to cut moves short, for instance if im 30-40 cents on a large position, and i see that there is no liquidity for me to get out on , unless i hit the bid/offer, ill just take the whole thing... anyhow hope it helps...you need to send me a more detailed question, for a better answer.. cheers,