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Alltech is owned by Harvey Houlkin the father of SOES (short order execution
system) implemented by NASDAQ in 1997 after Black Monday left many investors
without a way to sell stocks on their own because brokers were not answering
phone lines since they were to busy handling sell orders. SOES gives
investors the ability to get instantaneous executions at market current
market prices by preferencing market makers to buy or sell at bid/ask prices.
I use system and get fills in less than 10 seconds in some cases.
Alltech is expensive but fast and reliable, but the main advantage to working
in an office full of traders is the synergy of the group. Everyone shares
ideas and sometimes the groups buy and sell at same time and create liquidity
in the market.
These SOES firms trade individuals to buy or scalp an eighth of a point, then
sell, wait for stock to dip a little then they buy again. I use this method
buying on ECN's
like Instinet, Island and Selectnet and sometimes selling on SOES.
I would recommmend checking out office to see if its right for you. Alltech
charges about $500/month for data fees, but traders can make $10,000 a month
or more.
Alltech offers remote trading via computer from your home or anywhere.
Block Trading at www.blocktrading.com offers same system of trading and is
a lot better than Alltech. I recently switched to Block, they offer $20/trade
to buy or sell
NYSE, NASDAQ, and AMEX . Block will discount this to $16/trade for volume
traders. They offer Nasdaq level 2 market maker quotes, Traders can
preference
individual market makers or the entire group on any issue. Realtime scolling
news is also available from Block. Bloomberg news is available which lists
all those rumors on stocks like mergers, takeovers, upgrade/downgrades before
they happen, and rumors on company earnings. On Thurday, a rumor was posted
that Jabil Circuit
would be downgraded Friday morning, the rumor came true, Schroder Wertheim
downgraded stock because it hit their $70 price target. Jabil (JBIL) posted
record earnings. This rumor was posted after the bell before investors could
act. Friday
this was great stock to short, I made $12,000 in four and a half hours. No
other company reports rumors except Bloomberg. News services and data from
Block are free and Block offers online trading too. Good luck.
William
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