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If you use one of the Datek Express servers, you don't have to enter a password each time.
I think what everyone needs to understand is there are 2 classes of brokers. Web based, i.e. Datek, Ameritrade, etc. which are fine for occasional traders or those position trading. The other class are those for true daytraders who want in and out in seconds. These brokers use either RealTick III or CyberTrader software. Of course the costs are higher for such brokers but it's a matter of paying for the proper tools for the job. People should not expect Ferrari performance at a Hundyai price.
> -----Original Message-----
> From: Jim Allen [mailto:jallen7@xxxxxxxxxxxxx]
> Sent: Friday, April 30, 1999 9:57 AM
> To: Sigstroker@xxxxxxx; Omega Mail List
> Subject: Re: Datek Online
>
>
> Experience suggests otherwise. One has to type in the order,
> then send it,
> then fill in the super-secret password, then wait while that goes
> through. 20
> minutes to get a market order filled?? I don't recall ever
> seeing a fill in
> less than 30 seconds and most of the time longer than that... if
> you're doing
> it, great, but we never could get it to work that way.
>
> Jim Allen
>
> Sigstroker@xxxxxxx wrote:
>
> > Say what?? Delayed while a computer checks your password? Like for a
> > hundredth of a second? Nasdaq limit orders are either instantly
> filled or
> > posted on ISLD, the most liquid ECN there is. Unless they're
> having system
> > problems, it's all accomplished in 5 to 10 seconds.
> >
> > In a message dated 4/29/99 3:02:27 PM Pacific Daylight Time,
> > jallen7@xxxxxxxxxxxxx writes:
> >
> > > Your orders are routed to their trade desks, not directly to
> the floor,
> > > so they can screw you on the fill, I believe. Every order is delayed
> > > while the computer checks your password, which you must enter each
> > > order, and status of your account. For active traders this is
> > > unacceptable.
> > >
> > > It's for amateurs, not professional traders.
> > >
> > > Jim Allen
>
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