The Final Frontier - Online Remote Trading Message Board

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Strategies & Market Trends : The Final Frontier - Online Remote Trading

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To: Dan Duchardt who wrote (7247)	5/16/1999 1:55:00 PM
From: Gary Korn	of 12617

If you can be assured of getting filled at the current bid or ask without having to depend on a good spot in the SOES queue, or being at the mercy of the MMs with SelectNet, you are doing great Dan, Precisely. This difference is why -- given my scalping style -- I've been unable to make money at Watley (though the quotes are terrific). Most every trade that I can't pull off at Watley will, under the same circumstances, work at Fidelity. SOES, Selectnet, MM preferencing just don't give the same quality/timely fills. The key is that a size of 100 on the ASK doesn't preclude my Fido execution of a 800 buy order. Hence, my style is to wait for that low size on the ASK before I enter. Now, I had thought DLJDirect would work just like Fidelity. So I had opened an account there when Fido had me cut back on my live broker trading. It doesn't. DLJDirect, I learned after I joined, sends orders to a group of 8 or so random MMs. The result was (1) way too long a delay in getting the fills, and (2) unpredictability in the success of the fills. Bottom line, it was unscalpable. Gary Korn

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