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To clarify, I don't mean having a human backup to monitor what Im doing
(although it is nice) but I just don't trust the internet enough to trade
futures over it. I would go nuts waiting for fills and wondering if my
orders had made it in.
Maybe Im just old fashioned, but I want to give my orders to a human bean....
At 02:55 PM 5/27/99 -0500, Stewart Taylor wrote:
>
>Personally, a phone line direct to the pit is my preference. I don't want
>opinion, but I don't want to risk an electronic loss or mistake.
>
>Stewart
>
>
>
>
>At 01:45 PM 5/27/99 -0600, Earl Adamy wrote:
>>I don't mean in any way to be disrespectful of those who earn their living
>>taking orders from traders, however I want no part of them. I make my own
>>trading decisions based on my own charts and I don't want opinions. I set
>>and watch my own stops and orders and don't wish to delegate that
>>responsibility. Pulling the trigger is difficult enough without dealing with
>>people who may be overworked, harassed, have personal problems, or are not
>>suited to deal with the public (at least half of the staff on most order
>>desks). It is most unfortunate that those of us who want no part of the old
>>system remain saddled with less than state of the art electronic systems and
>>outmoded commission schedules. When I sit at my electronic order system and
>>wait 30-60 minutes for fill notices from some of the pits (e.g. cattle), I
>>get hacked enough to move my account and I've been through a few brokers.
>>
>>Those trying to get into the market for $5-$10 are generally those day
>>trading the e-mini which is electronic end to end with negligible costs to
>>the brokerage firm. It is the low commissions and slippage reducing instant
>>fills which make the e-mini competitive with the full S&P.
>>
>>Earl
>>
>>----- Original Message -----
>>From: <Jdonato98@xxxxxxx>
>>To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
>>Sent: Thursday, May 27, 1999 10:36 AM
>>Subject: On-Line Trading & Commissions
>>
>>
>>> It never ceases to amaze me, we as traders, especially Future and options,
>>> that we spend thousands of dollars on books, magazines, day-trading
>>> subscriptions, trading systems, software, real time and delayed quotes,
>>and a
>>> host of other services to help us find the "Magic Trade", but we won't
>>spend
>>> $20 to $30 to place a trade directly with a broker.
>>> Everyone is trying to get into the market for $5 to $10 and then complain
>>> about bad fills, delays in execution, and a loss of money because of it.
>>> Do you realize we are talking about less than 1 tick on the bonds or crude
>>> oil or any of the other commodities?
>>> A good broker with a reputable firm will save you more than that and give
>>you
>>> your fill while you are on the phone and watch your trades and stops. Plus
>>he
>>> will normally assist you with his own view of the markets.
>>>
>>> All the Best,
>>> Jerry Donato
>>
>>
>Stewart Taylor
>Taylor Fixed Income Outlook
>Voice: 501-219-9774
>Fax: 501-228-0963
>E-Mail: staylor@xxxxxxx
>Web Site: http://www.cei.net/~staylor/
>
>
Stewart Taylor
Taylor Fixed Income Outlook
Voice: 501-219-9774
Fax: 501-228-0963
E-Mail: staylor@xxxxxxx
Web Site: http://www.cei.net/~staylor/
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