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btw I'm not saying its the floor brokers fault this S&P deal. I'm saying if
you want to make this market fair then it should be ET. The exchange fee's
now are stupid imho. With the Internet markets like corn, soybeans, yen,
gold etc would have more exposure if you took the exchange fees away. The
loss of revenue could easily be recouped from ticket charges. I believe the
seat prices, big new buildings, floor brokers are making it hard for the
futures market to adjust to ET in a timely manner. Open Outcry use to be
the fairest, fastest way to trade a market. Its not anymore ET is the
fastest fairest way now.
So yeah it irritates me because I like the S&P market and if it was as good
as the Nasdaq I would trade it instead. I just use the path of least
resistance as far as pain and frustration and that would not be the
futures market in Chicago.
Robert
At 10:23 PM 5/28/00 -0500, robert.cummings@xxxxxxxxxxxxxxxx wrote:
>Humm sounds like somebody that doesn't trade the S&P to me. The slippage
>is ridiculous in the S&P market. Say what you want and think what you
>might concerning this issue. The strongest statement I can make is I don't
>trade the S&P anymore because of the slippage. I also advise that if you
>don't trade large enough to have direct phone access. Have a good pit
>broker helping you then your going to get spanked period. Argue all you
>want but trade it. I want to see this 1/16 comparison when you eat enough
>2 and 4 points slippage on a regular bases. Not even a comparison between
>the Nasdaq and the S&P as far as getting fills, get real. I'm not
>complaining just stating facts from my experience, I've made my
>adjustments. If you ever had the opportunity to use a direct line with a
>good broker you too would understand. As far as trading the E-mini verses
>the S&P doesn't compare at 10 to 1 and minimum tick differences. I don't
>know that for sure I don't trade the E Mini. So when I see somebody get
>rimmed in the S&P I don't say. Hey idiot what the John take it like a man
>and shut the hell up loser your probably a broker anyway. I give him the
>best advise I can because I'm qualified. I've had experience trading this
>contract.
>
>Robert
>
>
>At 08:51 PM 5/28/00 -0400, TradeWynne@xxxxxxx wrote:
>>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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