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Strategies & Market Trends : DAYTRADING Fundamentals
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To: - who wrote (97)6/6/1999 3:51:00 PM
From: Colin Cody   of 18137
 
I am fairly new to direct access. here's my 2c

With my browser broker, who I still use, I consistently get buys at the Bid and Sells at the Ask. I see the Broker (Wall Street Access) select a MM within 30 seconds to 60 seconds after I click "okay" and I see my order reflected on Level II. I believe since WSA uses the best legitimate MMs that I get filled over and above an other order right beside me on say ARCA.

With my Direct Access Broker (MBTraders) I too am often able to get a buy filled at the BID, but often I see my ARCA trade ignored while NITE et al get the order flow. Or I use ISLD and get a partial fill (g) I am getting better with experience.

I have been playing with buying UNDER the Bid or selling OVER the Ask using ARCA and am improving my reading of Level II to help me make proper placements in that regard. No, I do not "know what I am doing", just futzing around with MBT's direct access and learning slowing by rote.

Colin
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