|
PureBytes Links
Trading Reference Links
|
My discount commodity broker (their name starts with an L and they are the
largest discount broker) got me a full extra point on my wheat option today.
Not bad if I do say so myself. Understanding how to give your broker a
little to work with is something of an art in itself. My experience is that
they are always professional and efficient at placing my orders and have
saved me from stupid mistakes more than once.
Brent
-----Original Message-----
From: Daniel Bardol <efutures@xxxxxxxxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Date: Friday, May 28, 1999 10:51 AM
Subject: Re: On-Line Trading & Commissions
>Tom.. you must be clear for newer traders,,,that this depends on which
>markets you are trading.Not all markets have full electronic access yet,
>most are still open outcry.
>There are alot of traders out there making up the markets. They are not all
>S&P Mini
>traders. In some of the more exotic markets, a good institutional Futures
>Firm with
>top notch floor people and good location makes a difference. Trading
>electronically
>in those markets would just mean going through one more desk. All the
>Best, D.B.
>-----Original Message-----
>From: Tom Stein <comfut@xxxxxxxxxxx>
>To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
>Date: Friday, May 28, 1999 5:35 AM
>Subject: Re: On-Line Trading & Commissions
>
>
>>"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. "
>>
>>Could you, please, follow up with some statistics that verify that a 2-8
>>second fill makes you more money in the long run than a 2 minute fill? I
>>realize it depends on the type of trading you do, but any short term
system
>>that I have seen back-tested as to time of fill
>>show that once you get your signal, any fill over the next 5 minutes has
>>about the same dollar profit outcome over a large sampling. The
>explanation
>>being that you get as much dollar profit as dollar loss by getting filled
>>randomly over the next 5 minutes.
>>
>>Again, I don't know what your time parameters are, but my guess is that
>>anyone who is in a trade for over 30 minutes will find that the fills,
even
>>themselves out, over time.
>>
>>If true and I think it is, it means you can cross off speed of execution
on
>>your anxiety list.
>>
>>
>>Tom
>>
>
>
|