I make about 2,500 trades per year. Many of which are swing trades and covered calls. Non-commission free trading would be absolutely inhibiting. Always love you content, Tony! Trying to vow to spend a few hours on your material over the next couple weeks since I have some alone time.
So, if I don't see any price improvement on my limit order on Thinkorswim, does this mean that the market maker was unable to to profit on the order flow, and therefore my order was rerouted directly to a lit exchange?
Limit orders that fall around the midpoint(or worse) of the bid/ask spread will often be passed onto the exchanges. They mostly want to trade against market orders.
I would expect the removal of PFOF would result in less liquidity overall of the market and therefore decrease the share prices overall. Can you speak to this?
Brilliant market teacher, very thorough & thoughtful with a very pleasing voice - bravo Tony!
I make about 2,500 trades per year. Many of which are swing trades and covered calls. Non-commission free trading would be absolutely inhibiting. Always love you content, Tony! Trying to vow to spend a few hours on your material over the next couple weeks since I have some alone time.
Tony this webinar cleared up a lot of misunderstanding on my part about payment for order flow. Enormously helpful to me. Thank you!
Glad to hear that!
So helpful to understand our trades, thank you Tony!
No problem!
Thank you Tony! So helpful!
My pleasure!
Thanks again Tony, you are a great teacher.Always helpful
Happy to hear that, thank you!
So, if I don't see any price improvement on my limit order on Thinkorswim, does this mean that the market maker was unable to to profit on the order flow, and therefore my order was rerouted directly to a lit exchange?
Limit orders that fall around the midpoint(or worse) of the bid/ask spread will often be passed onto the exchanges. They mostly want to trade against market orders.
Gracias Señor
OUTSTANDING BIG T
I would expect the removal of PFOF would result in less liquidity overall of the market and therefore decrease the share prices overall. Can you speak to this?
haha so thats why i get better fills than i even try to sometimes.
Glad you covered this topic. GME/AMC brought this conflict of interest to light earlier this year!!