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Strategies & Market Trends : Trading For A Living -- Ignore unavailable to you. Want to Upgrade?

To: funk who wrote (577)6/27/1998 9:03:00 PM
From: Colin Cody  Read Replies (1) | Respond to of 1729
 
In years past, yes, I saw the double count... my fill and also the "other side" of my fill. NOW though, I look at the inside bid.
I Place a limit buy order at that price, and I see a MM adding my quantity to his bid, or I see a MM coming in with my quantity on the Bid. They are NOT doing "the other side", and so I am puzzled how the MMs are making their money???
.
I'm doing this with RAJA, a full service broker, and he gets $1,000 commission on a trade, so I'm not worried about him going broke, but when I use WSE they run it through a Wholesaler and I don't know what's in it for Herzog, Troster, etc.
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QUESTION for anyone: Based on the above I started yesterday buying at the bid on stocks that run a 1/2 to 3/4 spread (and that are showing a slight bullish trend). I got filled, at the bid, and I intend to sell at the Ask on Monday. Easy Money? Or am I gonna learn somethin' I don't know about yet? (g)
.
Colin



To: funk who wrote (577)6/29/1998 2:23:00 AM
From: R Stevens  Respond to of 1729
 
funk,
As you may note from my last post to jawd I was interested in how the type of trade you mentioned works for you:

Many of my trades are at the money, buy on the bid and sell on the offer, so obviously I do not experience two second fills on those

So if you put in a "limit" order to buy shares at the bid, and some trades come down the pike looking to sell at the bid, who determines which bidder will get the action, and how do you maneuver to get filled?

Thanks, RS


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