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You forgot to cover the anticipated price move taking place as the phone
rings idly, not to mention the often harassed/unpleasant/rushed voice
which finally does answer the phone. There are exceptions and there are
times when it is better to deal by phone with an experienced broker, but
the e-mini is not one of them.
Earl
----- Original Message -----
From: <Kevin243@xxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Monday, May 01, 2000 5:08 AM
Subject: [RT] Re: Fut: e-mini, online vs human brokering
> I just love it when you call your broker and read your order to him.
Then he
> says "What was that?".
>
> Then you read him your order again.
>
> Then you hear the clickety click of the keyboard.
>
> Then he reads your order back to you. slowly.......
>
> Then he asks if that order is correct?
>
> Then you say, hell, I could have driven downtown and entered the order
myself
> on your keyboard.
>
> Then he tells you that it will be a few minutes to get the order
> confirmation????????
>
> I guess the electrons are slow today? (translated: The market maker
is
> deciding whether to take your order or not even though you hit his
asking
> price)
>
>
> Then your broker offers to call you back, with confirmation, assuming
he
> doesn't have a larger client to serve. He will probably call with
your
> confirm this afternoon when the markets are quiet, if he calls at all.
>
> I actually had a broker take my options order, except the broker
didn't know
> what a strike price was!!!!! I hung up on the broker. (must have had
a
> designated hitter for the day of the Series 7 exam).
>
> There are a few good brokers out there, and I have run into a few of
them.
> Of all the trading I have done, I can think of only one occasion where
a
> broker helped me get out of an illiquid options position. But I could
have
> done the same thing on line.
>
> KC
>
>
>
>
>
>
>
>
>
>
>
>
>
> In a message dated 4/30/00 7:07:39 PM Central Daylight Time,
> Scaletrade@xxxxxxx writes:
>
> > In a message dated 04/29/2000 11:28:19 PM Pacific Daylight Time,
> > POMPATIS@xxxxxxx writes:
> >
> > > i would like to hear arguments for and against using an online
order
> > > placement system vs calling a live broker. this is in regard to
day
> > trading
> > >
> > > the snp mini contract.
> >
> > Online, what you see is what you get...at least if your data feed
is up to
> > snuff. When daytrading a stock index, do you want the current
price, or
> do
> > you want whatever it might happen to be 30 or 60 seconds from now?
> Granted,
> >
> > sometimes the price is better later, but I'd rather get what I see
on my
> > screen.
> >
> > Larry
> >
> >
> >
>
>
>
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