Last week while reading a post on entries & exits at ‘My Trading Room’ I took particular note of the fact that the author said that he only trades NYSE stocks. I was curious about his reasons since it seems that the majority of traders are all about the Nasdaq and Level II. So I asked him why he exclusively trades NYSE stocks. Well he just posted part one of his answer: NYSE VS. NASDAQ Part 1.
His answer is making me think about why I favor Nasdaq stocks so much. Any stock that moves is fair game for me but I rarely trade NYSE stocks. A big part of that is because I feel much more in control with Nasdaq stocks. I can get extremely quick fills on the Nasdaq while NYSE stocks often take ‘forever’ (tens of seconds). And trying to short NYSE stocks is the worst. The thing that I do like about NYSE stocks is that there seems to be more higher priced stocks there. As some of you know I’m really focusing on higher priced stocks now that I’m using my new position sizing method. So I’ve been looking at more & more NYSE stocks. I guess I need to read up on NYSE trading tactics.