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TomKochik@xxxxxxx wrote:
> Guys if someone could tell me how the following scenario would work in real
> life - i mean actually using the money and waiting for Fills:
>
> 1) When I decided to enter I act like puting an market order in the computer
> and send to my broker ( in order to get the most accurate price that I moght
> of get if that was for real I WAIT 4-8 SECONDS and then check what is the
> price given to me by my real time FEED . Now on average i take correction for
> slippage etc. so wait couple of seconds and then assuming that got that price
This will depend on what you actually end up using for executions. Fills can take
anywhere from milliseconds to a fairly long time, depending on what you're using,
the stock, whether its listed or not, and so on. I used to trade with an online
broker and had to wait a minute or two for their damn web pages to load, due to
their slow server, before it could be sent to the market. Still, though, there
really isn't any need of this, even if you're only a casual player and have to use
a regular online broker (Datek's not too bad as far as they go). To be safe,
count to 10 and fill yourself at the next trade at the bid or offer, as the case
may be.
It is helpful that you are paying this much attention to your paper trades - this
will not only give you a more realistic idea, but should give you a little feel
for actually placing orders.
Good Luck,
A.J.
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