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At 01:52 PM 9/10/98 -1000, Doug Deming wrote:
>
Doug
I agree with your reply here but the market price has to have a point of
entry. That person at the exchange has to input each price change. While he
or she is entering the current price its really not reality as per ticks
have move to hundred points in the S&P. While he or she is entering the
price its already history. Then we get it through a vendor and its actually
delayed at this point. Then you add time it takes to get entry and exit
into the market its no wonder this happens all the time especially in the
S&P. Bonds seemed to be the best at fairness and good fills than any market
around and even they have this problem in a fast market. S&P is going to be
very dangerous in the days ahead and horror stories have only just begun.
Robert
>The problem is they never (very rarely) error in customer's favor. So,
>unfortunately, you'll never balance out an adverse fill with an advantageous
>fill. The best fill you can hope for is one at your price. On occassion I've
>received +0.20 points in my favor. But I get hammered for 1-3 points on a
>"Fast Market Day". Ever wonder why it takes soooo long to get a fill back on
>a "Fast Day"? Poor guys in the pit need to take care of themselves. Think
>of you slippage as charity for the hard working traders in the pit. ha ha ha
>
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