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In a message dated 5/26/00 12:56:43 PM Pacific Daylight Time,
dennis@xxxxxxxxxx writes:
> The best they can do is bid
> 1379.60 and, if nobody wants it at that price, you're hosed.
>From my experience he should have been filled if it goes through your price,
but when you consider there are 150 guys screaming at each other: "even, 50,
even, 50" (that being the 80.50, not your 79.50) it is easy to see how he
could get missed in the fray.
> Seems to me that trying to scalp a 2 point move, in a market like this,
> from off the floor, is a gamble at best. The mini would be better for
> fills but you'd pay more commish. I'm sure MB might have something to
> say about the folly of trying to trade such small moves. :-)
I'm BW, not MB, but I've always thought it was not a good idea to try to beat
the floor at their own game. They have advantages in speed and cost that you
cannot
compete with from off the floor.
Also, and not to direct this at Keith, but in general: I'm always amazed how
traders look for the cheapest broker to save $2-$3-$5 per trade and then
consistently give up $25 to $250+ in slippage, missed fills, whatever. Just a
thought.
Bill Wynne
TradeWynne@xxxxxxxxxxxxxxx
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