wiscotitansfan Posted January 28, 2021 Report Share Posted January 28, 2021 (edited) Who would've ever thought that AOC and Trump Jr would be publicly on the same side in any fight. This is hilarious watching everything unfold. Edited January 28, 2021 by wiscotitansfan oldschool, heyitsmeallen, abenjami, and 1 other 4 Link to post Share on other sites More sharing options...
9 Nines Posted January 28, 2021 Report Share Posted January 28, 2021 (edited) I have had level 2 quotes before, might still have access but have not tried. What I am wondering is if the trading around them that was high odds still works or if it was shut down. In the late 1990s and into 2000s people traded around it with high odds of doing well. They would find stocks with imbalances often caused by institutions buying or selling. For example, you might see a bunch of 100 shares or odd-lots on one side and then 5K share orders on the other. The price would move toward the direction pushed by those institutional sides as the other side could not meet that demand - i.e if the large share orders were on sell side it would push price down buy side up. Level 2 retail trades would get on the side of the institution but at a penny or so higher, if buy or lower if sell, as their smaller orders would get filled first then they would join in line on the reverse after being filled charge a few pennies more than they paid. Basically they were cutting in line of the institutions then selling their spot in the line to the institution and after fees and at their sizes etc. making a few dollars and did that X number of times a day. I never really saw the value, as you had to do it not stop to make a living type income from it, huge record keeping, and while odds were on your side, the margins were so small that if something did go sideways, it could eat days of profit. I rarely here about it any more, so I assume trading changed where that high odds, but small, profit was taken back by some change or other. Edited January 28, 2021 by 9 Nines Link to post Share on other sites More sharing options...
OilerTitanHybrid Posted January 28, 2021 Report Share Posted January 28, 2021 1 minute ago, 9 Nines said: I have had level 2 quotes before, might still have access but have not tried. What I am wondering is if the trading around them that was high odds still works or if it was shut down. In the late 1990s and into 2000s people traded around it with high odds of doing well. They would find stocks with imbalances often caused by institutions buying or selling. For example, you might see a bunch of 100 shares or odd-lots on one side and then 5K share orders on the other. The price would move toward the direction pushed by those institutional sides as the other side could not meet that demand - i.e if the large share orders were on sell side it would push price down buy side up. Level 2 retail investors would get on the side of the institution but at a penny or so higher, if buy or lower if sell, as their smaller orders would get filled first then they would join in line on the reverse after being filled charge a few pennies more than they paid. Basically they were cutting in line of the institutions then selling their spot in the line to the institution and after fees and at their sizes etc. making a few dollars and did that X number of times a day. I rarely here about it any more, so I assume trading changed where that high odds, but small, profit was taken back by some change or other. That is how me and a couple other guys used to trade. We'd use lvl 2 to see the stacked shares and then use that to trade off of. We were making $2000/day easy and $10,000/week. We were trading a penny stock at the time though and it was under 1 dollar. When it finally went over 1 dollar, our system didn't work worth a shit anymore, so we had to stop trading that stock. Still, doing that for a few months is how all of us got our start and built our bankroll. After that ended, we all just mostly would swing trade stocks every few days or weeks, with some day trading thrown in also. Those were the days though. We had a system and used it to the max, until it finally dried up. Never found another penny stock that we could manipulate like that one either. If only we could have done that shit for a couple years, shew boy... Link to post Share on other sites More sharing options...
9 Nines Posted January 28, 2021 Report Share Posted January 28, 2021 (edited) 23 minutes ago, OilerTitanHybrid said: After that ended, we all just mostly would swing trade stocks every few days or weeks, with some day trading thrown in also. Those were the days though. Would you explain swinging trading? I might know what it is but based on what I think it is, my understanding is probably wrong because my understanding of it paints it as a very simple method and I assume it is more complicated. What I think is swing trading: You get comfortable with a stock or two or a few, or maybe an index or indices, learn their patterns around support and resistances and buy sell along those areas in the time frames within the patterns. Is it that or is there a lot more to it? Edited January 28, 2021 by 9 Nines Link to post Share on other sites More sharing options...
Titans279 Posted January 28, 2021 Report Share Posted January 28, 2021 OILERMAN, and abenjami 2 Link to post Share on other sites More sharing options...
OilerTitanHybrid Posted January 28, 2021 Report Share Posted January 28, 2021 22 minutes ago, 9 Nines said: Would you explain swinging trading? I might know what it is but based on what I think it is, my understanding is probably wrong because my understanding of it paints it as a very simple method and I assume it is more complicated. What I think is swing trading: You get comfortable with a stock or two or a few, or maybe an index or indices, learn their patterns around support and resistances and buy sell along those areas in the time frames within the patterns. Is it that or is there a lot more to it? It's a habit I got into saying years ago and still say it sometimes. Trading is trading I guess, just short term and long term. Swing trading does sound goofy though. I gotta break myself from the habit of saying it. Should just say daily trading, weekly trading, monthly, etc. Link to post Share on other sites More sharing options...
9 Nines Posted January 28, 2021 Report Share Posted January 28, 2021 (edited) I still think these Redditors had nothing to do with any of this - they just got lucky hitching a ride to something some serious parties spotted also. I looked over GME. Until what is happening now, it was trading around 7 million shares a day. During this run it has been in the 150 million range and the price is factor mores. So that is 140 million increased in daily volume. Two sides to trade, so cut it in half. 70 million increase. During much of the recent run, it was around $50 a share and now in the 200-400 range. Even at the $50 range, that is an increase in $ volume of around $3.5 billion a day. Stocks transactions take 2 days to settle, so even if buying on margin, you would have to look at purchasing power at two days, and it might be three days until the funds are available, I forgot but let's go with two days. That is $7 billion increase and if three days, $10.5 billion. Now with it in the $300 range, that would be $21 billion a day or needed purchasing power $40+ billion. I think it is a very slim chance that there are enough of those Redditors to equate that. Some traders in size are behind this. Edited January 28, 2021 by 9 Nines Jamalisms 1 Link to post Share on other sites More sharing options...
9 Nines Posted January 28, 2021 Report Share Posted January 28, 2021 4 minutes ago, OilerTitanHybrid said: It's a habit I got into saying years ago and still say it sometimes. Trading is trading I guess, just short term and long term. Swing trading does sound goofy though. I gotta break myself from the habit of saying it. Should just say daily trading, weekly trading, monthly, etc. But is it as simple, in theory, as I described or is there a lot more to it? If a lot more, any primer you would share? Link to post Share on other sites More sharing options...
wiscotitansfan Posted January 28, 2021 Report Share Posted January 28, 2021 1 minute ago, 9 Nines said: I think it is a very slim chance that there are enough of those Redditors to equate that. Some traders in size are behind this. BECAUSE of reddit. You really think all this big money would come into it out of the blue all at once just because? abenjami 1 Link to post Share on other sites More sharing options...
Jonboy Posted January 28, 2021 Report Share Posted January 28, 2021 3 hours ago, oldschool said: Robinhood is going to get crushed for doing this... They should know better than anyone retail traders don't have allegiance to a platform. Hilarious. https://www.cnbc.com/2021/01/28/robinhood-interactive-brokers-restrict-trading-in-gamestop-s.html You know you messed up when these 2 agree... Link to post Share on other sites More sharing options...
9 Nines Posted January 28, 2021 Report Share Posted January 28, 2021 (edited) 4 minutes ago, wiscotitansfan said: BECAUSE of reddit. You really think all this big money would come into it out of the blue all at once just because? There are hedge funds, and other sophisticated traders that trade around that strategy. I would not doubt there are even non-retail funds that qualified investors can buy that do - probably not public retail because it would be deemed too risky for non qualified investors. This stuff likely happens to some degree on daily basis since there are traders trading around it all that and has happen in this size and larger before. Edited January 28, 2021 by 9 Nines Link to post Share on other sites More sharing options...
Titans279 Posted January 28, 2021 Report Share Posted January 28, 2021 It started with reddit users but it spread all over the internet. It's far beyond just wsb users at this point. Btw people started flooding RH with 1 star reviews after they blocked trading, but now the app stores are deleting the 1 star reviews. Link to post Share on other sites More sharing options...
Jamalisms Posted January 28, 2021 Report Share Posted January 28, 2021 titanruss, and heyitsmeallen 2 Link to post Share on other sites More sharing options...
Vintagerobots Posted January 28, 2021 Report Share Posted January 28, 2021 (edited) 3 hours ago, oldschool said: Robinhood is going to get crushed for doing this... They should know better than anyone retail traders don't have allegiance to a platform. Hilarious. https://www.cnbc.com/2021/01/28/robinhood-interactive-brokers-restrict-trading-in-gamestop-s.html Didn't take long Edited January 28, 2021 by Vintagerobots Link to post Share on other sites More sharing options...
Titans279 Posted January 28, 2021 Report Share Posted January 28, 2021 Link to post Share on other sites More sharing options...
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