SivBum

Goldman Sachs Now Dominating Dark Pools Trading

I thought I am the only one with the problem. It has become a loser's game for individual traders like us in lower volume stocks. Big boys have crushed us.


On Jun 08 10:33 PM User 184769 wrote:

> I day trade and our firm clears through Goldman an we use Rediplus
> (Goldmans Trading Platform). Goldman is always trying to push sigma
> and dark pool on us. They guarantee that we will see better executions,
> but a few of the guys in my office tried it and said they noticed
> no better fills and no savings. What I found the most interesting
> in this article is how Goldman is the biggest player in computerized
> trading. This is interesting because we used to make a lot of money
> sending out thousands of bids and offers a dollar or two away from
> the closing print in after hours trading. This edge has been destroyed
> by computerized trading that constantly front runs your orders by
> .01. When you send the orders and try to jump in front of the program
> by a penny, the program is right back in front of you within a fraction
> of a second. I then tried to send 99 share lot orders because the
> program doesnt work against odd lots. Goldman shut me off the next
> day and I had to attest that I would never do orders less than 100
> shares. Shady business.