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Strategies & Market Trends : Level II Trading
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To: Morpher who wrote (353)3/12/1998 9:14:00 PM
From: Jack Zahran  Read Replies (1) of 1086
 
It feels pretty good to still be quoted after so many months. Just call Nasdaq and ask them, I always go to the source whenever I can. When I talked to the Nasdaq people, I walked away with the understanding that just because an order is represented on Island, it doesn't mean that it will be sold through Island. The traders within the brokerage can still trade it outside of Island and try to give it to the other party that pays the most for Order flow. So you'll see other orders go by while yours sits at the Bid and sometimes even the ASK. And forget about between 9:30 and 10 AM when the house traders are swamped with orders.

These kind of firms are the worst for daytraders who are counting on the scalp. Oh, for anyone who thinks that a discount trader will not trade in front of them or behind them just because it is against the law: Wake Up!, a discount brokers policy is that it is OK until the arbitrator tells them otherwise, even then they'll do it there own way. Trader beware.
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