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Go ahead with LeoWeb - it works well - problems are CME systems and they are to
be replaced very shortly. First thing I did when I activated LeoWeb was to call
the backup number (LeoWeb desk) and have a detailed conversation with them
regarding order handling when LeoWeb or CME systems go down - it's just like
calling any other broker desk. When using LeoWeb, consider using market orders
rather than limit - you should find less slippage with market orders due to
speed of fills - more like 10 seconds than 30-40 seconds. E-mini is nice but the
tick size is bigger as are commissions when compared to full contract.
Earl
-----Original Message-----
From: TomKochik@xxxxxxx <TomKochik@xxxxxxx>
To: omega-list@xxxxxxxxxx <omega-list@xxxxxxxxxx>; Michael Stewart
<MPST@xxxxxxxxxxxxx>; BRIAN P KING <KING68@xxxxxxxxxxx>; hans esser
<he96@xxxxxxxxxxxxxx>; Barry Burgess <BarryJBurgess@xxxxxxxxxxxxxx>
Date: Tuesday, August 11, 1998 1:01 AM
Subject: Electronic Orders Entry ...
>Dear Fellows Traders,
>
>I happened to read a couple of postings about the computerized ( electronic)
>orders entry such as for example: LFG's LeoWeb. Since I ve heard many very
>different approaches and opinions, so before I go life with LeoWeb in 2-3 Days
>I would like to hear and review Your opinion about the Advantages and
>Disadvantages of LFG's LeoWeb electronic order entry. Please, if You have any
>view or opinion to share - do so, so that everybody could express theirs.
>
>I am planning to activate me LeoWeb life within couple of days to trade S&P
>500 Futures Index, but I am still full of doubt about that decision. I have
>also heard that sometimes I would have to wait for the fill many minutes (and
>longer?)
>
>When I called LFG, guys from there told me that on average I would get my
>fills back within 30-40 seconds.
>Just to mention here that I always try to get in ON A LIMIT so it gives me
>some kind of security about the fills but again do You think if the market
>goes through my limit price with ONLY 1 TICK I can assume my order to be
>filled? What is Your experience on this one ?
>
>How about using OCO orders through LeoWeb ? Can you use them or they are not
>reliable and brokers would often forget to cancel them ?
>
>Also what is your opinion on the E-mini - I have heard so many positive
>remarks as negative. I have got confused.
>There are so many questions about the electronic order entry software.
>
>Could You make a statement about this matter please ??
>
>Thank You and wishing You Fast and Reliable Fills.
>
>
>Thomas ,CA
>Email: TomKochik@xxxxxxx
>Phone 310/ 471-8407
>FAX SAME
>
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