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In a message dated 5/28/00 3:58:48 PM Pacific Daylight Time,
tagteam@xxxxxxxxxxxxx writes:
> Why? Along the same
> line, traders are paying under $10 (some as low as $4.95) to
> trade the E-Mini while the lowest ticket charge I've seen
> for NASDAQ trades is $14.95. Again, why does there seem to
> be a disproportionate number of complaints? Further, after
> having seen some fills in certain NASDAQ stocks (e.g. QCOM),
> I'm left wondering why there are so few complaints about
> NASDAQ fills.
Jim:
Good points. Some of the consistent and repetitive complainers (about
futures) on this list are stock brokers, or sellers of stock related
products....so consider the source. Also, I think the leverage in futures
exaggerates the emotional and financial component: 1 point slippage in the
S&P is in the area of 1/16 in a $100 stock ...the 1/16 may be easier to
swallow for some.
Also, as a futures broker who has seen hundreds of people trade, people like
markets when they are winning, and they hate them when they lose. Take a poll
about Nasdaq complaints a few years into a bear market, we might be hearing a
different tune. As far as daytrading the S&P, slippage or not, it's a tough
business. There are lots of traders out there with a sour taste in their
mouths.
Bill Wynne
TradeWynne@xxxxxxxxxxxxxxx
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