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CALLBUY@xxxxxxx wrote:
> Is there anyone who is currently or has used the LFG ZAP electronic
> order
> entry
> system, to daytrade the S&P500, T-Bonds or any other contracts? How is
> it and
> how are the fills? Is it really as fast as they say? How reliable is
> their
> service?
> E-mail.....CALLBUY@xxxxxxx
> thanks
I use it. I love it. I can't imagine daytrading without it. There are
many services like this coming on line in the next few months (like
electronic fill reporting).
I tested a bond system for profitability using one point slippage going
in and one going out. It made sense, so I proceeded. I have been so
astounded with my fills using the ZAP system over the internet. One week
I had ONE point negative slippage...for the whole week. (30 trades or
so) I have also hassled the fill clerks for fill times (they hate that)
and have found from the time I hit the my left mouse key to transmit the
order to actually being filled is around 30-35 seconds. I'm scalping. I
need that. I use market orders for entry and a combination of stop,
limit or market orders to exit depending on conditions.
I have also used it on the S&P. I have the confidence to trade 'fast'
markets without getting killed. Slippage is a little more here, but what
would you expect. (but, still less than phones)
If you perceive 'speed' is critical, then this is great. If speed is no
big deal, there's no tangable advantage (other than solid paper trail).
I still have to call for night orders or Globex orders.
Hope this helps.
Good trading to all.
Mark
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