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Hi, Theo.<br>
<br>
I've been using CyberTrader for about 6 months now to varying
degrees. It does give you incredibly fast execution and is a great
deal if you know what you're doing. Coming from a web based
brokerage, though, I found it helped me lose money faster
initially. Not from bad execution -- execution is excellent, but
from the ability to get into lots of bad trades really
quickly. You get access to the same execution systems that
the Market Makers are using and can get filled in milliseconds under some
circumstances. If you're fast on the keyboard you can always get a
fill in under 20 seconds one way or another at some price. They
have a couple of automatic order routing systems that actively seek out
the best deal for you across all the various methods of placing orders
with the various ECNs and Market Makers. <br>
<br>
I discovered that the truly lousy execution I was getting from my web
brokerage (up to half an hour to get a fill in some cases) was protecting
me from overtrading. I took the two courses offered at
com
(they rebate the $3k tuition for each course through commission discounts at Cyberbroker) and learned that using this software is not unlike learning to fly a plane. It is very easy to crash and burn without proper training. I'm now in the process of getting back into some real daytrading using blow by blow commentary from the www.onlinetradingacademy.com virtual mentoring system aka Strategic Training Center to help keep me on track with what I've learned at the courses. The STC has a room full of computer monitors and two traders who've instructed the OTA classes in the past and who now give blow by blow interpretations of the level II screens of trades that either they or other members of the STC subscriber base are in on a real time basis. It is done with a web based voice chat system. For $250 a month you can listen to this chat system and communicate with the instructors via a text chat box. They also give you heads up on significant market moving developments. Often market moving news will be announced by the STC 2 to 10 minutes before you hear about it on CNBC. They are using CyberTrader software tied into a different datafeed from what you get from Cybercorp, so when they call out the current level of the S&P futures every few minutes, it give you a good idea as to whether or not your datafeed is keeping up to date or not. For $500 a month you can participate in the voice chat using your soundblaster compatible sound card, microphone, and speakers. I find the text chat service is adequate. During slow periods when viable trades are scarce, they do mini classes where they use live examples to illustrate some of the key points covered in the OTA courses. They give you a free 2 week trial period. I highly recommend these services.<br>
<br>
Regards,<br>
Ullrich <br>
<br>
At 05:30 PM 3/29/00 +0200, you wrote:<br>
<blockquote type=cite cite>"urn:schemas-microsoft-com:vml" xmlns:o = "urn:schemas-microsoft-com:office:office" xmlns:w = "urn:schemas-microsoft-com:office:word"> <br>
<br>
<font face="arial" size=2>Ron,Dave, Guy and other listmembers :</font><br>
<br>
<font face="arial" size=2>Thx for the info :</font><br>
<font face="arial" size=2>My Datek experience is mixed : sometimes ok but for Daytraders : Could</font><br>
<font face="arial" size=2>be a lot better.</font><br>
<br>
<font face="arial" size=2>Has anyone expirience with http://www.cybercorp.com ?</font><br>
<br>
<font face="arial" size=2>I tried the simulation and the concept " Trading is war" looks agressive</font><br>
<font face="arial" size=2>but there is something real in it :).</font><br>
<br>
<font face="arial" size=2>Had frozen screens different times but again : the ability to place -at the same time-</font><br>
<font face="arial" size=2>a stoploss order and a sell order looks very promising or ?</font><br>
<br>
<font face="arial" size=2>Theo Lockefeer.</font><br>
<br>
<br>
<br>
<br>
<blockquote type=cite cite>----- Original Message ----- <br>
<b>From:</b> Guy Tann <br>
<b>To:</b> metastock@xxxxxxxxxxxxx <br>
<b>Sent:</b> March 29, 2000 3:35 AM<br>
<b>Subject:</b> RE: Best Trade Execution (Personal Experience)<br>
<br>
<font face="arial" size=2 color="#000080">Dave<br>
</font><br>
<font face="arial" size=2 color="#000080"> <br>
</font><br>
<font face="arial" size=2 color="#000080">Why the three accounts? We have our account with Schwab with a current commission rate of $14.95 for up to 1,000 chares and $20.00 for up to 2,000 shares.<br>
</font><br>
<font face="arial" size=2 color="#000080"> <br>
</font><br>
<font face="arial" size=2 color="#000080">Our primary concern is the protection of assets as opposed to saving $5 on a $100,000 trade. Maybe we re a little paranoid (and that s why Glen and I keep meeting on our firewall list </font><font face="wingdings" size=2 color="#000080">J</font><font face="arial" size=2 color="#000080">), but when you have a fairly large balance, I think the first concern should be the size and stability of the firm you re doing business with. <br>
</font><br>
<font face="arial" size=2 color="#000080"> <br>
</font><br>
<font face="arial" size=2 color="#000080">I d be interested in hearing any thoughts about firms and their ratings in terms of protecting your assets first, then their execution price.<br>
</font><br>
<font face="arial" size=2 color="#000080"> <br>
</font><br>
<font face="arial" size=2 color="#000080">What is the best approach to measure stability in a brokerage firm? If the NASDAQ drops 50% and the firms traders can t meet margin requirements, how solid is the firm?<br>
</font><br>
<font face="arial" size=2 color="#000080"> <br>
</font><br>
<font color="#000080">Guy<br>
</font><br>
<font face="Times New Roman, Times" color="#000080"> <br>
</font><br>
<font face="arial" size=2 color="#000080"> <br>
</font><br>
<font face="tahoma" size=2>-----Original Message-----<br>
<b>From:</b> owner-metastock@xxxxxxxxxxxxx [<b>On Behalf Of </b>Dave Nadeau<br>
<b>Sent:</b> Saturday, March 25, 2000 8:45 PM<br>
<b>To:</b> metastock@xxxxxxxxxxxxx<br>
<b>Subject:</b> Re: Best Trade Execution (Personal Experience)<br>
</font><br>
<font face="Times New Roman, Times"> <br>
</font><br>
<font face="Times New Roman, Times">My experiences with Interactive Brokers has been outstanding. The price for options is $1.90 per contract (no mininum). Equities are $.01 or $1 per 100 (minimum $1). So the price is good if you are doing smaller positions, and comparable if you are doing 1000 shares or 10 options contracts. Orders go direct to the exchange or pit, not through a broker. The software is somewhat dated compared to many of the GUI applications but works reliably and quickly. I haven't been successful with stop orders; this may be a problem if you are not in or "near" the market while your positions are open. <br>
</font><br>
<font face="Times New Roman, Times">I also have an account with Track Data Corp. The software is good and executions are fairly rapid. You are looking at $13 -$16 per trade for equities and the low $20s for options. This is the account I use for my intermediate positions when I have to have stop orders and will be away from my positions for a while. <br>
</font><br>
<font face="Times New Roman, Times">I have a third account at Bidwell and Co. The trading is browser based and routes through a broker so it seems slower than the rest. They are in the $13-$16 range as well. Service has always been excellent. <br>
</font><br>
<font face="Times New Roman, Times">For a complete listing with user comments try this site, http://www.sonic.net/donaldj/brokers.html I am in no way affiliated, but have found it very helpful in evaluating brokers. <br>
</font><br>
<font face="Times New Roman, Times">Dave Nadeau <br>
</font><br>
<font face="Times New Roman, Times">Ron Warshawsky wrote: <br>
</font><br>
<font face="Times New Roman, Times"> </font><font face="verdana" size=2>Dear List members,</font> <font face="verdana" size=2> Can you please share, which internet broker provides you with the best trade execution price (for the short term (2+ days) positions).</font> <font face="verdana" size=2>Regards and Thank you in advance</font> </blockquote></blockquote></html>
</x-html>From ???@??? Thu Mar 30 10:10:38 2000
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Subject: Re: OT: We all pay for this....
Date: Thu, 30 Mar 2000 00:19:54 -0500
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Status:
On Wed, 29 Mar 2000 20:33:11 -0600, you wrote:
>Did you know that there is a flight simulator concealed in Microsoft
>Excel 97?
Yup, that's an "egg". Ever wonder why the programs are so large! If
only I could charge rent for my hard disk space.
-÷ Chris ß ÷-
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