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Winthorpe,
You might consider Q-Charts from Quote.com for charting and monitoring.
The latest version (still might be in beta) supports Level 2 as well as the
other items you mentioned. I've been impressed with the product. I'ts
about $90/month, including stock exchange fees. If you are planning a low
volume of trading, a regular online broker may be sufficient. I'm a low
volume day trader myself (< 10/day) and in the process of switching from
Brown to Datek. Datek has been highly recommended on this list and in a
daytrading book I recently bought, and Brown has gotten too slow.. If
you're planning on a high volume of trades each day, then you'll probably
need a dedicated trade station. I haven't researched this area but have
run across WATCHER at Broadway Trading LLC and ULTIMATE TRADER at A. B.
Watley. (WATCHER supports only NASDAQ.) You may also want to check out
the following two books on daytrading, both of which I found interesting:
THE ELECTRONIC DAY TRADER, by Marc Friedfertig and George West
STOCK PATTERNS FOR DAY TRADING, by Barry Rudd
Regards,
Bill
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> From: winthorp@xxxxxxxxxxxxx
> To: metastock@xxxxxxxxxxxxx
> Subject: Daytrading from home setup
> Date: Saturday, February 06, 1999 12:39 PM
>
> A little help from you daytraders trading from your homes. Currently I
> am looking into different vendors and trade stations with the objective
> of trading from my home and trying to level the field against the NYSE
> AMEX specialists and the OTC market-makers. I am very actively searching
> for an efficent package which is fairly easy to use, fast instantaneous
> trading capabilities and cost effective. Some of the things I would like
> to monitor before pulling the trigger on the trade are:
> (1) would like to see the Level 2 screen displaying the OTC market maker
> bids and offers
> with their sizes displayed
> (2) would like to have a real time minute by minute chart that I can
> monitor of XYZ stock
> so that I can monitor momentum intra-day
> (3) a ticker flying across the screen would be helpful for getting a
> feel of the pulse of
> the market
> (4) the ability to monitor say 20 other stocks shoved up in the corner
> somewhere
> *** (1) and (2) top prioity ***
> These are the most basic bases I hope to cover and any input would be
> deeply appreciated.Would curious to know if this could be all be done on
> one computer alone or
> whether two computers would probably be more practicable. Would two
> internet connections lend itself to this setup or one can do it alone
> with one internet connection. It seems to me that one internet
> connection would be needed to be always live and ready to make the trade
> and one internet connection open to recieve the "Push" technology for
> stock quotes etc.etc. So far I've spoken to DBC Signal and Equis
> Professional Software(for generating realtime charts). I also intend to
> contact Tradestation to see what they have to offer. One of the factors
> to consider is the ability to incorporate a e-brokerage( with timely and
> reliable instantaneous
> executions and of course cost of clearing trade) with the trade station
> package that you're trying to create. Could anyone shed some light on
> this matter and possibly give me an idea of the relative costs they
> incur to support the trade stations that they are currently using.
> Thanks for taking the time to read this message.
>
> Regards,
>
> Winthorpe
>
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