Friday, November 30, 2007

The NYSE's Hybrid Market Sucks

Fuck you traders! That's what the Hybrid Market is all about.

I go in to buy FED at 3:42 or so, no indication, a 2 cent spread in the quotes and I'm filled over 2 points higher on a print of over 70,000 shares. Next trade is for 600 shares over a point lower.

It's sad and laughable. It's bullshit and they need to fix it. Half my daily profits gone in 2 minutes because their system is a piece of shit.


Glenn said...

Why not trade Nasdaq?

TraderDave said...

hey dino just checking up on you. I have felt the wrath of the $1+ gap outs, and here is my simple solution that has worked as of yet.

Dont trade the hot stock of the week/month

stocks like MOS TRA FED MBI STP BID WCG are tend to get me in trouble. you never know if there is a rumor being floated or if news is comin out, or if someone wants to come in and manipulate a price which before was never allowed.

I find myself trading TIF ZLC CCJ and stocks that really aren't in the news but tend to have great thinly traded, under the radar moves. just my two cents considering we do the exact same thing, keep the fight bud, and as you and i and now glenn has mentioned, open your eyes to nasdaq too.