Trade What You See, Not What You Think Message Board

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Strategies & Market Trends : Trade What You See, Not What You Think

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To: Threei who wrote (758)	10/11/2001 3:23:40 AM
From: Apakhabar	Read Replies (1) of 867

I think that the major broker-dealers truly want to put daytraders out of business. You can't really blame them for this. They're not in business to be "fair" to us, but rather, to make as much money as they can. Despite the high percentage of losing traders, I believe the money made by the few winning traders is significantly more than the money lost by the losers. Our responsibility is to adapt, of course, but probably also to organize as well. If independent traders don't form a voting bloc or a PAC, we will never have a voice in how the game is played. As for this news I personally believe that the 100 share with reserve won't make a difference since we have all seen the MMs using ECNs to this purpose since the advent of SuperSoes. As for the SOES price change, your particular broker may have a different scale. At Momentum, we are paying I think .001 per share plus 10 cents per order (no cancellation fee) instead of the old 50 cents a trade fee. Thus trades aren't more expensive until they go over 400 shares. Still it's a racket any way you look at it...

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