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Strategies & Market Trends : DAYTRADING Fundamentals
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To: Threei who wrote (7110)3/4/2000 5:19:00 PM
From: Jon Tara   of 18137
 
FWIW, Preferred has given me a couple of trade adjustments lately on bad NITE fills. I normally let them go, like you, but these were particularly eggregarious cases, and I didn't want to let them get away with it. It wasn't so much the money, as much as I wanted to make sure that Preferred let NITE know that their customers are balking, and that they might be on some thin ice. I do know that when NITE gets really bad, Preferred switches to another MM for the rest of the day. I do think it's important for people to complain - enough complaints and NITE will back-off.

I do agree with Vadym in general - execution risk is just one more factor that you have to deal with in the market. An important aspect of successful trading is figuring out the most advantageous way of getting your trades executing, and weighing the reward with the risk. I don't spend too much time blaming anyone - just try to figure out a way to get around the problem. If I figure out a way around it, and others don't, I have an advantage.
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