Info - don't even get me started on the "wonders" of Snet orders. Always remember the simple rule: if an MM accepts your order, it is only because the trade is about to turn against you. Now add to that the wonderful donwtick/downbid rules for shorting, and now the trader is at as comprehensive a disadvantage as an MM could wish for (nice, that they don't have to hew by the DT rule, and don't have to check for share availability to sell short - they can short naked).
Personally, when I trade, I track everything on the ISLD viewer, and I try not to put myself in situations where I have to Snet orders out, unless it's some kind of leisurely position trade. I try to limit myself to what's available on ISLD, and I try to practice the discipline of buying on the bid, and selling on the ask. This can be pretty limiting at times, but I find that preferable than leaving myself at the mercy of MMs. 95% of my daytrading is done on ISLD, so I've seen it all - including the 1 share out of a 1000 executed, etc. There is no perfect system, but so far, I'd rather stick with ISLD, all things considered.
Morgan |
