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-----Original Message-----
From: Austowne@xxxxxxx <Austowne@xxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Date: Monday, August 10, 1998 3:22 PM
Subject: Online Trading (LeoWeb)
>In a message dated 98-08-09 17:18:48 EDT, Earl writes:
>
><< As a small futures trader, I was not accorded the
> privilege of direct floor access so I had to wait while my (very large
>discount)
> broker called the floor to get a fill and was on the receiving end of all
the
> things I mentioned above. I hated to pickup the phone to place an order! I
> recently switched to LeoWeb and am a very happy camper >>
>
>Earl,
>
>Can you or anyone else out there in RT Land tell me (IYHO) if there is a
>benefit to using Leo thru one particular broker over another? Is is
strictly
>a software matter? I took a look at LFG's demo and it appears friendly
>enough, but "real" comments would be helpful.
>
>Incidently, I have no particular fondness for hearing voices, but I do have
an
>ongoing queasiness with relying on the internet for critical communication.
>CUBS is one thing; the computer crashing or some telecommunication snafu is
>quite another. Recall how you feel when for no apparent reason you stop
>receiving data, usually at a most critical time. It's a desperate feeling
>being left to twist in the wind. Also, never underestimate the subtlety of
>fills in your favor that come from direct access and a long term mutually
>beneficial relationship with a broker, even if he IS only acting as a
minion.
>
>Dave
>
>
I use Leo webb through LFG. I have been quite happy with the system. From
time to time the cubs will go down. When this happens your executions are
very slow at reporting back to you. I have found some slippage but I am not
sure that it is in my own system. I am changing data providers at this time.
I can call the desk directly and place my market order and get my fill. Then
I can place my stops, limit or mid orders with Leo. If your computer dies
or you loose your internet connection you can call the desk and make any
changes you need to. They are quick at finding your orders. It you started
an order in Leo, then called the desk and had it replaced then you cannot go
back into Leo and replace it again, you would have to call the desk. You
could have the desk cancel the order and then replace it in Leo, the you
could replace it in Leo. I hope this helps,
Robin Porter
Robinp@xxxxxxxx
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