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I don't think I'd want to show my order intentions to
those tradehustlers. (unless I was position trading
and I didn't mind being swept)...Still, the prinicipal
of the thing.
Anything a floor trader can do a market maker can do
better (less sunshine), and that includes trading
against your order.
--- tony varela <tonyvar@xxxxxxxxxxxxxxxx> wrote:
> there are stop orders on nasdaq, however its up to
> the market-making firm
> or ecn to accept them, which usually is a function
> of the stocks volatility.
> i believe the major firms like schwab and fidelity
> allow their customers
> to enter stop orders, again with restrictions on
> certains stocks.
> anything internet related will get you a no stop
> order allowed.
>
> tv
>
>
> Ullrich Fischer wrote:
>
> > Is there a more focused forum (list) for consumer
> reports on the various
> > day-trading/active trading broker/datafeed
> options? I'm looking for
> > something a bit faster but not a lot more
> expensive than my current broker
> > where I'm getting execution on a 3 to 10 minute
> delayed basis. My broker
> > tells me that Nasdaq does not accept stop orders.
> Is that generally true
> > or a function of which brokerage you're using?
> (I'm using Bank of Montreal
> > Investorline with eSignal realtime data). I've
> looked at www.gomez.com,
> > but their criteria are confusing and they seem to
> only cover a small
> > fraction of the online brokerages out there.
> >
> > -uf
> >
> > At 06:17 AM 10/5/99 -0700, William R Wood wrote:
> > >I have been through the demo for CyberX a direct
> trading system for fairly
> > >active traders. This is an offshoot of
> CyberTrader which is meant for
> > >daytraders or very active traders. The CyberX
> concept is interesting but I
> > >have some questions which I posed to Cybercorp:
> > >
> > > 1) What do the extra fees noted on your webpage
> amount to in reality. I
> > >dont want to pay more than 14.95 per trade, in
> fact, I want to pay less.
> > >Your webpage does not indicate whether most
> trades have extra fees or not.
> > >I trade NASDAQ and NYSE stocks generally in lots
> of 500 shares or less.
> > >
> > >2) Main question is stop orders. I exit
> virtually all positions on stops.
> > >Since the only way to impliment a stop in your
> system is to use a
> > >conditional order which resides on my computer,
> the order will not be
> > >executed when my condition is met unless your
> system, my computer and my ISP
> > >are all working. If I am away and a power outage
> occurs it appears that I
> > >will be exposed to a major risk that does not
> exist if I use my online
> > >broker who accepts the responsibility for stops
> and charges a lower
> > >commission. Is there a solution to this serious
> problem.
> > >
> > >3) Do you have any studies that demonstrate your
> system produces better
> > >executions than Etrade, etc. I use Waterhouse
> Webbroker, cost 12.00 per
> > >trade. I enter positions at the market and
> almost always get filled at the
> > >current ask. I exit postions on a sell stop and
> only twice during the past
> > >year has Waterhouse failed to fill my stop at the
> price I specified and the
> > >two misses were only 1/16 off.
> > >
> > >4) There are occasions when heavy internet
> traffic makes it impossible to
> > >execute trades quickly via Waterhouse. And
> occasionally the price of a
> > >stock I am interested in moves against me as I
> wait for the trading screens
> > >to load. Does this type of delay occur on your
> system as well?
> > >
> > >I received an answer from a Cybercorp sales rep
> that was pure gobbledegook.
> > >He basically said to call him and he would answer
> all my questions.
> > >
> > >Has anybody used CyberTrader or CyberX who can
> compare that type of system
> > >to a regular online broker and comment on my
> questions. I am not a
> > >daytrader. 10 trades a months would be about my
> speed.
> > >
> > >Thanks for any input.
> > >
> > >Bill Wood
> > >
> > >
> > > > -----Original Message-----
> > > > From: Sigstroker@xxxxxxx
> [mailto:Sigstroker@xxxxxxx]
> > > > Sent: Sunday, October 03, 1999 8:16 PM
> > > > To: omega-list@xxxxxxxxxx
> > > > Subject: Re: Tradecast
> > > >
> > > >
> > > > In a message dated 10/3/99 6:29:44 PM Pacific
> Daylight Time,
> > > > Perthuis@xxxxxxx
> > > > writes:
> > > >
> > > > > I have looked at Tradecast and CyBerTrader.
> I like CyBer
> > > > better but really
> > > > > like Real Tick. It seems to have
> everything the other two
> > > > have and more.
> > > > > CyBer can sometimes have a lot more
> marketing savvy and use the same
> > > > > standard
> > > > > Real Tick ideas just with a fancy name.
> > > >
> > > > I disagree. Cyber has a number of features
> that rt3 lacks - new
> > > > daily and 52
> > > > week highs, stop orders on nasdaq, floating
> stop loss orders, ecn
> > > > highlights
> > > > on Level 2, and more. OTOH, rt3 has been
> around a lot longer, so has more
> > > > support from 3rd party software suppliers.
> > > >
>
>
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