Day Trading Guide to Stock Order Types

stock numbersA day trading guide on stock order types is a dynamic volume, as new order types are continuously proposed, revoked or falsely justified.  As Nasdaq continues to develop, propose, then either revoke or justify new stock order types that continually benefit the select few, let’s review some of these recent order proposals and how they impact investors.

Nasdaq’s Proposal of the Extended Life Priority Order

Nasdaq proposed in November of 2016 a new order type they call the Extended Life Priority Order (ELO).  This was shortly after the SEC gave approval for IEX to become the 13th US Stock Exchange.  The ELO order type has been incorrectly compared to utilizing a time delay similar to IEX’s “speed bump”.   (more…)

Rising Costs of Stock Exchange Data Fees Affect Online Equity Trading

How Rising Costs of Stock Exchange Data Fees Affect Online Equity Trading

There is a lot of talk about the data access fees that the various stock exchanges are imposing upon brokers, traders and online equity trading firms, and for very good reason.   All US Stock Exchanges, including the two largest in the world, the New York Stock Exchange (NYSE) and Nasdaq, provide market data through the Securities Information Processor (SIP), as is required by the Securities Exchange Act, for consolidation of displaying current pricing and securities activity. (more…)

Best Seller List of Day Trading Books | Great Point Capital

Given the complexity of the topic, it is difficult to find a best seller list for day trading books that you can trust. Finding a reliable source with values aligned with yours can be tricky. New and experienced day traders are always eager to soak up all knowledge and information available, as things always happen fast on Wall Street, and technology is changing even faster.

Even so, some basic age-old philosophies still ring true and we would love to share with you our insight into some of the best educational and interesting material for day traders from age-old classics to revealing documentaries set in today’s fragmented market environment. The following day trading book list is sure to enrich and enlighten an up and coming trader and even the experienced quantitative trader. (more…)

Top on Trader’s Wish List – Limit Payment for Order Flow

Historytraders looking at computer screens

After speaking with several experienced traders, one thing stands out as top of their wish list: limits on payments for order flow.  Payment for order flow (POF) is a widespread arrangement, and one that’s been around in US Markets for quite some time.  In fact, this practice dates back to the 1980’s with masters like the notorious Bernie Madoff leading the way.   This system is an arrangement where a third-party firm pays brokers to send orders to them rather than to the open market.   (more…)

Weighing In on Trade-At Rule


stocks trending upMany factors and opinions come into play when discussing the need for a Trade-at Rule, but most agree it warrants evaluating.   Practices such as Payment for Order Flow (POF) are causing Traders, Exchanges and Regulators to review the current market structure and consider implementing a Trade-at Rule, while traders are still fighting for market share.    (more…)

Trading Stocks From Home vs. Trading From the Office

traders looking at computer screensMost traders begin their career as an individual, discretionary Day Trader.   An individual learns from experience, and that couldn’t be more true for a trader.  Once a trader has some experience under their belt, they may consider trading stocks from home.  Certain circumstances could prompt this desire to work from home rather than your firm’s office; perhaps you are new to an area and want to work for a company located in another state, or maybe you are already settled into your dream home, and find yourself in transition searching for a new firm to call home but the one you want to work with is located miles away.  Many trading firms offer their traders the ability to trade from home, or from their office.  While there are many advantages to both, we’ll evaluate the pros and cons in both situations, the requirements for successfully trading remotely, and the benefits of working in the office with other experienced traders. (more…)

How IEX Will Change Markets for Day Traders

stock broker

IEX – The Investors Exchange

IEX, also known as The Investors Exchange, was given final approval by the Securities and Exchange Commission in June of 2016 to become the thirteenth stock exchange in the United States.   IEX was originally formed as an Alternative Trading System, or a dark pool, in October of 2013 and continues to utilize the same technology as an exchange to level the playing field for all traders.  IEX is the first exchange to offer a transparent environment for day traders and high frequency traders (HFT’s) alike.  Day traders have historically been at the mercy of HFTs, whose trading accounts for 50% of all market trades.   (more…)

May 26, 2016 New Offices!

Our new home at 200 W Jackson is looking great!

[metaslider id=52]

It may not always be obvious how important the right environment is for a trader. A great team can make individual players perform better, and the same is true with trading. Being around great traders can elevate your game. A stable office environment also lets you worry less about technology and distractions, and focus on your trading.

If you are an experienced equity daytrader in the Chicago area looking to join a great team, call us to set up an appointment to look at the new space.

(Interiors by KDI Design)

We’re Moving!

We’re Moving!

Our Chicago office will be moving to 200 W. Jackson Blvd, Suite 1000 on March 1st.

The new space will upgrade the environment for our prop traders and provide a more collaborative setting for our team.

Pictures coming soon!