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You are confusing CyberTrader, a direct access trading platform with L2
quotes, with CyberX, a direct access trade execution program with L1 quotes
marketed to compete with traditional online brokers like Etrade Ameritrade
etc. My question was and is, has anybody used CyberX or anything like it
and is it, in fact, better than a regular online broker in terms of
execution speed. I question their claims about execution speed since my
online broker fills me at the ask almost every time for a lower commission.
How can the direct access system beat that.
I also would reinforce what Robert said. I exit every position with stops.
Have placed about 100 this year on NASDAQ issues. Waterhouse, my online
broker, filled all but 2 at my stop price. The 2 misses were only 1/16 off.
Many of these stops were filled weeks after they were entered and while I
was on vacation. Stops work perfectly on NASDAQ as well as NYSE stocks.
Bill Wood
> -----Original Message-----
> From: Perthuis@xxxxxxx [mailto:Perthuis@xxxxxxx]
> Sent: Tuesday, October 05, 1999 7:46 PM
> To: dsj000@xxxxxxxxxxxxxx; wr_wood@xxxxxxxxxxxxx; omega-list@xxxxxxxxxx
> Subject: Re: CyberX/Tradecast/Real Tic
>
>
> You speak the truth here. The responsibility when using the high powered
> execution systems, such as Real Tick, should lie with the trader. This
> trading, whether active or inactive, is not a passive activity. These
> commercials that show the guy playing golf when his pager goes
> off and his
> computer then executes the order are bogus!!! If you are an
> active trader,
> driving a software that is similar to a race car, then I would
> not even want
> the capability to put on cruise control.
>
> << I believe that several of your demands are not reasonable. >>
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