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Bob:
Dennis is right in most instances. However, the New York market, in
general, is a much less orderly market and many of its habits can be
'cleaned' by smart applications. However, I have traded those markets
extensively for many years, and I have gotten bad quotes on both
Fururesource and Reuters and when I went into the pit, I got the
*same* bad quote of the market...Needless to say, I traded on the bad
quote, and because I am a trader that has been with my broker for 18
years and has put lots of money and clients in their hands, they ate
the bad quote from the pit when it was discovered 10 minutes later.
[By the way, this sometimes happens in other markets...some of us may
hva ebeen involved in trading on the wrong handle on the CBOT in the
early 90's when an option trader lost his nerve and tried to shotgun
an order...and his broker began quoting the wrong handle...]. But
these mistakes are more common in the New York markets.
Tim Morge
Scientific Approaches wrote:
>
> Dennis Holverstott wrote:
>
> > It *is* the markets but Futuresource has its own bad tick
> > filters... a big selling point if you want to trade the NY
> > markets.
>
> Dennis is right. Servers should be "smart" enough to "know" markets never
> trade at zero or at any prices that are beyond the daily price limit from
> previous prices. The Omega Server isn't that "smart." If a datafeed
> reports the price of Gold in New York is zero, an Omega Server is perfectly
> willing to accept that as a true fact.
>
> -Bob Brickey
> Scientific Approaches
> sci@xxxxxxxxxx
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