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I don't post often on the list but have found it very useful at times for
the depth of knowledge that is here. My spouse is a trader for large
institution and trades foreign equity markets mostly European. Almost all
her trades are in the seven figure range per day,and as many on this list
can tell you she is only interested in beating the volume weighted average
of the day. Most institutions approach the trades this way.
So to have a floor trader who trades x number of shares each hour within a
range is the way it happens. Not rocket science these are usually longer
term positions and entry is only part of it.
No one is going to advertise their position and therefore their intent
unless necessary not even a small lot trader like myself.
R Smith
---- Original Message -----
From: <cashc@xxxxxxxxxxxx>
To: <omega-list@xxxxxxxxxx>
Sent: Friday, July 14, 2000 10:49 PM
Subject: Re: NASDAQ traders - FYI
> My guess is not only "would" they do it, they do it right now. And
> it works the same on the NYSE. A broker stands at the specialist
> booth and tells the specialist to "put him on the book for 2000
> shares" and let him know when that's done. Then, he just keeps
> taking whatever comes in until he's filled.
>
> You'll NEVER see a system where they show exactly what they
> have. Even traders on this list that trade large lots don't show their
> entire hand in one order. You're as likely to see a market maker or
> broker showing everything he's got as you are to have the house in
> Vegas show their hole card.
>
> Date sent: Fri, 14 Jul 2000 09:57:22 -0600
> From: "Gary Fritz" <fritz@xxxxxxxx>
> To: omega-list@xxxxxxxxxx
> Subject: Re: NASDAQ traders - FYI
>
> > > But that benefit could be undermined by another SuperMontage
> > > feature, called "reserve," which would let market makers advertise
> > > a stated amount of shares they're willing to trade, when, in fact,
> > > they're sitting on a much greater volume that they'd like to move.
> >
> > Even if this wasn't supported by the software, I'll bet the MM's
> > would still do it. They'd just feed their big order into the market
> > a few thousand shares at a time. (Don't they do this already?)
> >
>
>
>
> "Buy Low, Sell High"
> (If this statment is used for financial gain, I am entitled to 10% of all
profits. ;) )
>
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