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<<Yes it amazes me that some traders do not value it as an intrinsic
part of their basic cost of doing business, and that it is money
well-spent.>>
GET REAL! Most brokers are a waste of money for anyone above the novice
catagory. Saying that having a broker versus electronic order entry is
like having a Jaguar versus a Hyundai is a blatant misrepresentation.
In actuality, your entry is likely to be much worse using a broker, than
electronic entry. You call the broker, he calls the floor, they signal
to the pit, the trade occurs, and then the return trip. Versus
electronic where you have your fill in 2-8 seconds versus 30 sec-2 min
with a broker. Don't tell me the broker's the Jag! How much does your
broker really trade? So what makes him an expert in trading just
because he watches the market? So do you, and you've probably studied a
heck of a lot more about the markets than he (she) has. And if you
don't think commissions are an important part of your trading, think
again!
So if you're a novice, use a broker, otherwise, electronic order entry
is the best, by far!
Take care,
Don
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