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Bill - again good points. My take is that yes, if I knew I would have an accident a week, I'd do as you say. That is why I don't trade that way w/ Datek. But if I was told - yeah, an accident a week is a given when you drive a Pinto w/ these shitty brakes (Datek etc.), but this here Humvee (Cyber) with excellent brakes, a vehicle you paid a fortune for, is much, much safer (and if the brakes are not up to the job, you'd be justifiebly upset) - I'd take it on a high speed highway. Sure, I understand there are no "guarantees" - accidents do, and will happen. But it's right that you mention cars - after all we all know that accidents happen, and the risk is there. Therefore we buy a big safe Mercedes, and drive it faster, than a Pinto - so you are right on (love those examples from real life<g>). And another example from real life - even more relevant to our discussion... taken from your post!
<<I don't know, but I imagine the market makers have more redundancy in their systems that they never even think about having a system outage. I just cannot imagine them accepting that risk, especially with the amount of money they have at risk and since they're accustomed to having everything set to their advantage anyway.>>
Ahem... THAT is what I'm expecting from Cyber who is supposed to be at the very forefront of making trading reliable! We are not talking about Etrade here - that's why we are paying the big bucks. After all, why should we have less robust a system than the MMs? And that also proves that it is TECHNICALLY POSSIBLE to have a robust system, so that I as a trader <<never even think about having a system outage. I just cannot imagine them accepting that risk, especially with the amount of money they have at risk>>. Couldn't have said it better myself :) If it works for them, then it can work for us - and again, we are supposed to be with a broker that has *daytrading* standards, not some web-based Ameritrade or Datek. That is the whole crux of my problem with Cyber.
So, basically I agree with you - and that's why I feel it important to hold Cyber to the standards that they themselves invite.
Regards,
Morgan
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