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ALTAF JUMMA wrote:
> Hi Altaf:
One thing that I stopped doing was placeing Market orders. I always place
limits. You'll have better control of your entry points. I use Rt Trader real
time and when I don't start getting quotes or something I feel is going wrong I
close it out and reenter. You could use peggy,laura,or sharon. When one is
doing strange things or stops, jump on another one.
For Win95 locking up get more RAM 64 meg min. or use SDRAM (168 pin) is better
than fast page or edo.
For web-base trading to slow, check with your ISP. Meaning if other
applications are taking to long it might be your ISP not your brokerage.
If you want SOES like trading (direct), I've heard a lot of good things about
MB Trading. Goto http://www.elitetrader.com there is some talk there.
I just closed my account with Datek because of the problems they are having
with the SEC. I don't feel right about what I've read. I just opened my
account with Brown and Company. No trades yet and I didn't sign up for
options.
Good Luck,
Joe Frabosilio
> I ran into the following problems while trying to help a friend trade stock
> options under fast market conditions:
> 1. Internet based PC Quote was too slow sometimes the option price was 2
> or 3 point off the broker price. AOL was the internet provider
> 2. On the other computer we had charts of stock price from rttrader
> internet based also, the difference in the stock price between the two
> service was 2/3 points at times -one service would be faster at certain
> times slower at other time. The internet provider was AccessPro.
> 3. My friend had an account with Waterhouse Securities. Using market orders
> to get in and out cost a point or two off the option price for example if
> the price on the option was 11 if we were getting in we would pay 12 or
> more, if we were getting out we would get 10 or less. Since then we have
> started asking the bid and ask and put a limit order at the ask sometimes
> we would have to cancel and replace order a few times because the price
> moved away.
> 4. Web-based trading was useless - we had to use the telephone.
> 5. Internet service was over ordinary telephone line.
> 6. Our computers with win95 did freeze a few times as it normally does.
> 7. Our trading style was short-term (2 or 3 days} at times day-trading.
> 8. We didn't use Black-Scholes or worried about volatility-just use call
> and put for directional trading in lieu of stock.
> 9. I am a newbie as far as stock option trading is concerned. I have traded
> futures for a while. I liked stock option trading inspite of the problems
>
> Considering the following options for trading:
> a. Switching over to Windows NT from win95.
> b. Switching over to DTN satellite based quotes.
> c. Switching over to Dreyfus or Investrade for lower commisions.
> d. For Web-based trading, using newer technology like cable modems etc.
> e. Considering other trading execution system used by professional
> traders- Instinet is only for companies. Also getting access to
> after-hours trading if possible.
>
> Looking for suggestions from other traders.
>
> Soory for the long post.
>
> Thanking you ,
> Asif
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