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Strategies & Market Trends : SOES Trading

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To: cp who wrote (1414)4/19/1998 9:44:00 PM
From: Rubble  Read Replies (1) of 1618
 
I'm always a bit skeptical when someone on an anonymous board comes forward with an extravagant claim, such as being a marketmaker. But when I saw this comment:

any mkt maker can be a good soes
trader. most soes traders wouldn't last a month as a mkt maker,

I became quite convinced that you're no marketmaker. The advantage that the marketmakers have over the average daytrader w/lvl 2 is extraordinary. MMs have retail orders, can refuse to honor their posted quotes, and never have to worry about commissions. Daytraders have no retail, must hope the MMs will fill them when they hit them at their posted quote, and break even with commissions when they make a teeny. If they decide to make the market through an ECN, they can never back off when they're hit. Most MMs who tried to play the game as a public daytrader would get killed. And almost ANY person who traded with an MM's advantage would make great money.
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