Scribd Logo
Upload

Welcome to Scribd!

  • Speed 3

    Uploaded by

    Sidharth Gummalla
    21 views1 page
    The document provides instructions for a series of complex order execution drills involving entering, canceling, and reentering orders across multiple electronic communication networks (ECNs) at different prices and within tight time constraints. The goal is to learn to dominate speed and fluidly transition between ECNs without fills. Eight drills are described involving finding liquid stocks, placing orders to get long or short at various bid and offer prices on ARCA, NSDQ and NYSE, waiting seconds for fills, and canceling to reenter on a different ECN if no fill is received.

    Original Description:

    Original Title

    speed 3

    Copyright

    © © All Rights Reserved

    Available Formats

    DOCX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document
    The document provides instructions for a series of complex order execution drills involving entering, canceling, and reentering orders across multiple electronic communication networks (ECNs) at different prices and within tight time constraints. The goal is to learn to dominate speed and fluidly transition between ECNs without fills. Eight drills are described involving finding liquid stocks, placing orders to get long or short at various bid and offer prices on ARCA, NSDQ and NYSE, waiting seconds for fills, and canceling to reenter on a different ECN if no fill is received.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    21 views1 page

    Speed 3

    Uploaded by

    Sidharth Gummalla
    The document provides instructions for a series of complex order execution drills involving entering, canceling, and reentering orders across multiple electronic communication networks (ECNs) at different prices and within tight time constraints. The goal is to learn to dominate speed and fluidly transition between ECNs without fills. Eight drills are described involving finding liquid stocks, placing orders to get long or short at various bid and offer prices on ARCA, NSDQ and NYSE, waiting seconds for fills, and canceling to reenter on a different ECN if no fill is received.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 1

    Speed III

    Okay so now we get into more complex order execution drills. Think speed, speed, speed. You must learn
    this drill and dominate it, yeah that’s right, DOMINATE it. You must learn to enter an order, cancel it and
    simultaneously enter a new order on a different ECN at a different price. So let’s get to work.

    1. Find a stock in play today. High Bid ARCA, and wait to get hit. Wait 5 seconds after getting hit and sell
    w/ ARCA at best Offer, wait 2 seconds, if no fill cancel the order and sell at best Offer w/ NSDQ (NSDQ =
    ISLD). Repeat 3x.

    2. Find a stock in play today. Low Offer ARCA, and wait to get taken. Wait 5 seconds after getting taken
    and cover at best Bid w/ ARCA, wait two seconds, if no fill cancel the order and cover at best Bid w/
    NSDQ. Repeat 3x.

    3. Find a stock in play today. High Bid NSDQ, and wait to get hit. Wait 5 seconds and sell w/ ARCA at
    best Offer. Wait 2 seconds, if no fill cancel the order and sell Low Offer NSDQ hidden. Repeat 3x.

    4. Find a stock in play today. Low Offer NSDQ, and wait to get taken. Wait 5 seconds and cover w/ ARCA
    at best Bid. Wait 2 seconds, if no fill, cancel the order and cover High Bid NSDQ hidden. Repeat 3x.

    5. Find a stock in play today. High Bid NSDQ and High Bid ARCA. Wait 5 seconds, if one of the orders
    does not get hit, cancel the order and resend the order on the ECN that did get the fill. Sell Low Offer
    NYSE. Repeat 3x.

    6. Find a stock in play today. Low Offer NSDQ and Low Offer ARCA. Wait 5 seconds, if one of the orders
    does not get taken, cancel the order and resend the order on the ECN that got the fill. Cover High Bid
    NYSE. Repeat 3x.

    7. Find a stock in play today. Sweep the offer to get long. Send Offer 5 cents away from best offer w/
    NYSE. Wait 5 seconds. Cancel the last order and sell w/ ARCA at best Offer. Repeat 3x.

    8. Find a stock in play today. Sweep the bids to get short. Send a Bid 5 cents away from best bid on
    NYSE. Wait 5 seconds. Cancel the last order and cover w/ ARCA at Best Bid. Repeat 3x.

    You might also like