[rsagi]

Hi All,

I am interested in knowing what you think about the claims that a broker with a trading desk may be trading against the retail trader - us...

Am I avoiding this issue when I use market orders so they cant "find" my stop loss/limit?

I currently use Fidelity ATP - how is the platform for daytrading + scalping stocks vs. IB/TS/Mbtrading/MT/Ninja etc? I havent seen any input on the forum here regarding platforms suck as LIGHTSPEED + HYDRA? How do platforms such as REDI compare?

I know a guy who scalps using ATP buying 5,000- 8,000 ETF shares and enjoys the platform - any thoughts? (I know he also has an account with IB.) I found it to be really interesting that when he was asked if he uses "smart routing" - he said NO - he found no slippage issues or added value in doing so- again What Are Your Thoughts on This ONE???

Also, what about short inventory when it comes to big companies such as Fidelity vs. others? - I only DayTrade ETF's and stocks above $10 - no OTC etc.

My apologies that this is a bit of a long post ...

Looking forward to your response,

Steve

[james_gsx]

I don't see why you would use a platform such as Fidelity ATP if you're day trading and especially scalping. I had Fidelity and I thought their charts were lacking to say the least. And if you're using market orders it's not a matter of being "found" or not, you're setting yourself up for bad fills. If you use limit orders you might miss a few, but those few ticks can add up over the course of say a year.

Someone like Brownsfan would probably be able to answer your question about your broker trading against you. I've heard examples of brokers taking the opposite side of your trade in anticipation that you screw up, and eventually blow up. But I'm not sure if that's myth or real.

[rsagi]

I totally agree about their Charts. I also think that the execution screens - the lack of keyboard based quick execution is just aweful.

You criticized the charts - but more importantly, what are your thoughts about the fills by fidelity vs. others?

Best,
Steve

[james_gsx]

To be honest, I've never really had a problem. When I traded equities I typically took a long term approach (several weeks) so I wasn't so worried about where I was filled. Now I only use Fidelity for options, and I always enter limit orders. The one time I did use a market order, however, I got a shitty price and I deserved it.

But I'm not sure if ATP has an order book style execution platform available, that way you can work your bid like you could on say an ES trade.

[rsagi]

I c

Two more questions.

1. Since you do options- do you know a FREE or cost based options "scanner" where I can search for options with the highest premium for covered call purposes? Any interesting tools out there for options volatility/implied volatility etc? I couldn't find one on Fidelity.



2. Who is the broker with the largest/MAX LEVERAGE Intra day for stocks?

Best,
Steve

[trade-samarai]

The book "Day Trader's Survival Guide," written by Christopher A. Farrell talks about this in some detail.