amit1986
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just take a look at the daily chart of VXX...in essence, this is the volatility of the S&P 500 stocks...it's been falling for over 6 months now...low volatility generally implies lower average daily profits. This is especially the case for new traders.
I suppose in a market like this, it's best to simply adjust expectations.
I suppose in a market like this, it's best to simply adjust expectations.
ChocolateDigestive
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nice trading.
have you considered going through a prop firm you can get the full ECN rebates. So you can choose the best order route. BATS is a popular route. Here are the rebates
http://batstrading.com/FeeSchedule/
if you can come in and out on a limit order you can capture $0.0029 per side from BATS, even more if you can go with Sigma or other dark pools, you can catch $0.005 per side. A prop will charge you $0.003 to $0.005 per trade depending on your volume, so you can potentially trade 'for free' by letting these rebates offset. In addition you are not limited to the 4 times leverage imposed to retail traders. so if you stump up $50,000 on an IB retail account you can leverage up to $200,000 intraday. Props will normally give you 20 times buying power so if you deposit $10,000 you could trade your $200,000 intraday. there are plenty of respectable prop firms out there.
also these retail brokers internalize a lot of their orders and this goes off to be packaged up by dark pools, goldman sachs and the like. You don't want to show your hand to these people, also when you hit into an offer you want to see that volume leave the offer not go through some back door market internalization process.
good luck.
have you considered going through a prop firm you can get the full ECN rebates. So you can choose the best order route. BATS is a popular route. Here are the rebates
http://batstrading.com/FeeSchedule/
if you can come in and out on a limit order you can capture $0.0029 per side from BATS, even more if you can go with Sigma or other dark pools, you can catch $0.005 per side. A prop will charge you $0.003 to $0.005 per trade depending on your volume, so you can potentially trade 'for free' by letting these rebates offset. In addition you are not limited to the 4 times leverage imposed to retail traders. so if you stump up $50,000 on an IB retail account you can leverage up to $200,000 intraday. Props will normally give you 20 times buying power so if you deposit $10,000 you could trade your $200,000 intraday. there are plenty of respectable prop firms out there.
also these retail brokers internalize a lot of their orders and this goes off to be packaged up by dark pools, goldman sachs and the like. You don't want to show your hand to these people, also when you hit into an offer you want to see that volume leave the offer not go through some back door market internalization process.
good luck.
amit1986
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Thanks for letting me know. I will check it out in more detail soon!
Hi Amit.
I know you are done for the day now, and offline, but just wanted to "thank you" for your posts and stuff this week. Please try and keep it going, I just wish T2W had a way of automatically refreshing the page when you make a new post (if you ever start posting on paltalk or somewhere please let me know). I was having a bad session but managed a nice gain on CRK to get back to green for the day.
Cheers
Steve
amit1986
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Hi Steve,
If you're using firefox, you can download an automatic page refresher and set it up according to how often you want the page refreshed. I use this for Mr Charts' live alert site and have it set to automatically refreshing every 7 seconds. You can find it here: https://addons.mozilla.org/en-US/firefox/addon/reloadevery/
Amit
