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Joe,
Where can I find out more about PATS?
Thanks,
Brian Voiles
At 07:56 AM 4/16/2001, you wrote:
>I use a PATS executon system which you have to lease--- then it doesn't
>matter who u clear thru. Unfortunately you have hit on the problem with e
>trading and that is that NONE of the brokerage firms have put together a
>simple, quick, effeicient execution system that is also stable. Until they
>do I guess independant software companies like PATS are going to be filling
>that niche. I just don't get how all these companies can be staring the
>future in the face, yet there not able to make something reliable and stable
>to interface with e trading. I understand Refco is soon to release a new
>system so I expect it would likely quickly become the leader given the
>resources they have toward development.
>
>
>----- Original Message -----
>From: R <tradescalper@xxxxxxxxx>
>To: <realtraders@xxxxxxxxxxxxxxx>
>Sent: Monday, April 16, 2001 9:40 AM
>Subject: [RT] To joe duffy
>
>
> > Who do you use for execution.
> >
> > Thanks
> >
> > ----- Original Message -----
> > From: "Joe Duffy" <joeduffy@xxxxxxxxx>
> > To: <realtraders@xxxxxxxxxxxxxxx>
> > Sent: Monday, April 16, 2001 8:58 AM
> > Subject: Re: [RT] Secrets of Floor Traders
> >
> >
> > > This is why for most people the e-mini makes a lot more sense. It costs
> > > slightly more in commision to do 5 e-mini instead of 1 big sp, but that
> > can
> > > be more then made up for in speed of execution, lack of slippage, and
>the
> > > elimination of the human element on the floor. I resisted e trading at
> > > first, but I'd never, never go back.
> > >
> > >
> > > ----- Original Message -----
> > > From: Howard Hopkins <hehohop@xxxxxxxxxxx>
> > > To: <realtraders@xxxxxxxxxxxxxxx>
> > > Sent: Saturday, April 14, 2001 11:35 AM
> > > Subject: Re: [RT] Secrets of Floor Traders
> > >
> > >
> > > > I know my broker desk in the S&P's tries to protect me from the type
>of
> > > > example given. Just the other day I took a stop to the market and
> > prices
> > > > were trading 69.50 bid 70.00. Right when I took it to market
>Squawkbox
> > > was
> > > > quoting a 69.20 bid and a 69.20 printed. Prices immediately went
>back
> > to
> > > > 69.50 bid and then higher. My broker was told that I was filled at
> > 69.20
> > > > (the low tick of course). Immediately he started screaming at the
>order
> > > > filling that it was bullshit! He was screaming that there was a 69.50
> > bid
> > > > right next to him. The order filler made the 69.50 good.
> > > >
> > > > It's nice to have someone on your side down there!
> > > >
> > > > Howard
> > > >
> > > >
> > > > >From: Ira Tunik <irat@xxxxxxxxx>
> > > > >Reply-To: realtraders@xxxxxxxxxxxxxxx
> > > > >To: realtraders@xxxxxxxxxxxxxxx
> > > > >Subject: Re: [RT] Secrets of Floor Traders
> > > > >Date: Fri, 13 Apr 2001 07:50:18 -0700
> > > > >
> > > > >This is illegal as can be. Unless the rules have changed. Ira
> > > > >
> > > > > > Well floor traders can "get" a license to print money. It is
>called
> > > > > > standing
> > > > > > next to a broker. It takes a long time to work your way "up" there
> > > > > > though.
> > > > > > Just like any profession there are only a few who make the big
>money
> > > > > > and the
> > > > > > rest run the gamut. There are big traders in the SP pit, about
>8-10.
> > > > > > They
> > > > > > scalp and take on large positions and in the SP's can make
>millions
> > of
> > > > > >
> > > > > > dollars a year ( though that still is chump change compared to
>some
> > of
> > > > > > the
> > > > > > large off the floor traders) The pit traders feed off the order
>flow
> > > > > > (which
> > > > > > many use to scalp) to make their money. You can make some great
> > money
> > > > > > by
> > > > > > scalping and taking on just a little risk. Many are techincal and
> > one
> > > > > > large
> > > > > > trader in particualr, SIR, is steeped in Gann. He is a great
>trader
> > to
> > > > > > watch.
> > > > > > PRS is another great trader to watch.
> > > > > > There really are no "secrets" to speak of. You just go down there
> > and
> > > > > > start
> > > > > > picking it up after a few months. The so-called "secrects" are
>those
> > > > > > between
> > > > > > the broker and the local or the "fluff" trades that the brokers
>give
> > > > > > (which
> > > > > > is why it is really nice to stand next them). Ex: of a fluff ....
> > > > > > 1170.00 bid
> > > > > > in the pit, both local and dealer by 1170.50 offer. You are on the
>O
> > > > > > even bid
> > > > > > also for 5 or 10. Broker says to you "sold 10 at 9 half!"
>(1169.50)
> > > > > > and then
> > > > > > you hit the surrounding bids. Instant profit with NO RISK!!! Ahh
> > > > > > secrects.....
> > > > > >
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