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<DIV><STRONG><EM><FONT color=#000080 face=System size=3>Earl and
all, All that cool
electronic equipment that hooks people up even in</FONT></EM></STRONG></DIV>
<DIV><STRONG><EM><FONT color=#000080 face=System size=3> fully electronic
markets ,and the staff that maintains and operates it and the phone and light
bills at those firms do cost something...and I daresay I wouldn't want to take
on the fiancial responsibility and liability of starting up an FCM or even
an IB in this day and age. To use the word,' NEGLIGIBLE ' in describing their
cost of doing business is a bit heavy-handed. When a waitress provides me with
very good service, I know that I tip her very well. Likewise, I know you would
be the first to agree, that in any other business, very good reliable
service is worth paying a little more for. And I think that was Jerry's original
point. All the
Best,
D.B.</FONT></EM></STRONG><FONT face=Arial size=2><FONT
size=3></FONT></FONT></DIV>
<DIV><FONT face=Arial size=2><FONT size=3></FONT></FONT> </DIV>
<DIV><FONT face=Arial size=2><FONT size=3></FONT></FONT> </DIV>
<DIV><FONT face=Arial size=2><FONT size=3> </FONT>-----Original
Message-----<BR>From: Earl Adamy <<A
href="mailto:eadamy@xxxxxxxxxx";>eadamy@xxxxxxxxxx</A>><BR>To: RealTraders
Discussion Group <<A
href="mailto:realtraders@xxxxxxxxxxxxxx";>realtraders@xxxxxxxxxxxxxx</A>><BR>Date:
Thursday, May 27, 1999 12:49 PM<BR>Subject: Re: On-Line Trading &
Commissions<BR><BR></DIV></FONT>>I don't mean in any way to be disrespectful
of those who earn their living<BR>>taking orders from traders, however I want
no part of them. I make my own<BR>>trading decisions based on my own charts
and I don't want opinions. I set<BR>>and watch my own stops and orders and
don't wish to delegate that<BR>>responsibility. Pulling the trigger is
difficult enough without dealing with<BR>>people who may be overworked,
harassed, have personal problems, or are not<BR>>suited to deal with the
public (at least half of the staff on most order<BR>>desks). It is most
unfortunate that those of us who want no part of the old<BR>>system remain
saddled with less than state of the art electronic systems and<BR>>outmoded
commission schedules. When I sit at my electronic order system and<BR>>wait
30-60 minutes for fill notices from some of the pits (e.g. cattle), I<BR>>get
hacked enough to move my account and I've been through a few
brokers.<BR>><BR>>Those trying to get into the market for $5-$10 are
generally those day<BR>>trading the e-mini which is electronic end to end
with negligible costs to<BR>>the brokerage firm. It is the low commissions
and slippage reducing instant<BR>>fills which make the e-mini competitive
with the full S&P.<BR>><BR>>Earl<BR>><BR>>----- Original Message
-----<BR>>From: <<A
href="mailto:Jdonato98@xxxxxxx";>Jdonato98@xxxxxxx</A>><BR>>To: RealTraders
Discussion Group <<A
href="mailto:realtraders@xxxxxxxxxxxxxx";>realtraders@xxxxxxxxxxxxxx</A>><BR>>Sent:
Thursday, May 27, 1999 10:36 AM<BR>>Subject: On-Line Trading &
Commissions<BR>><BR>><BR>>> It never ceases to amaze me, we as
traders, especially Future and options,<BR>>> that we spend thousands of
dollars on books, magazines, day-trading<BR>>> subscriptions, trading
systems, software, real time and delayed quotes,<BR>>and a<BR>>> host
of other services to help us find the "Magic Trade", but we
won't<BR>>spend<BR>>> $20 to $30 to place a trade directly with a
broker.<BR>>> Everyone is trying to get into the market for $5 to $10 and
then complain<BR>>> about bad fills, delays in execution, and a loss of
money because of it.<BR>>> Do you realize we are talking about less than 1
tick on the bonds or crude<BR>>> oil or any of the other
commodities?<BR>>> A good broker with a reputable firm will save you more
than that and give<BR>>you<BR>>> your fill while you are on the phone
and watch your trades and stops. Plus<BR>>he<BR>>> will normally assist
you with his own view of the markets.<BR>>><BR>>> All the
Best,<BR>>> Jerry Donato<BR>><BR>></BODY></HTML>
</x-html>From ???@??? Thu May 27 19:37:47 1999
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Date: Thu, 27 May 1999 21:38:07 -0500
Reply-To: clydelee@xxxxxxx
Sender: owner-realtraders@xxxxxxxxxxxxxx
From: clydelee <clydelee@xxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Subject: MKT - SP500 Cash - where is bottom per SwingMachine
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Among other things John noted:
reasonable. Right now, I am anticipating a bounce back to the 1320-1340 on
the S&P CASH.
The attached picture from latest version of SM would not argue with that at
all. The two swings which indicate reversals tomorrow point to 1310 to 1340
range some time MONDAY. Could be quick. Next leg could be interesting.
Clyde Lee
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