Steve - this thread is not the place to explore this (as it doesn't deal w/ MBT), but I've had weird experiences trading in that I use two (sometimes 3) brokers to trade during the day. Cyber is one, Datek another and TradeStar the third. Well, I found one odd thing - perhaps I'm very unskilled, but I get better executions through Datek (*strong* caveat - only when their servers work). Believe me, I couldn't reconcile this in my mind - and I ran tests, after tests w/ my girlfriend. I'd be on Datek, she'd be on Cyber (separate computers, separate modems), we'd enter the same trades (shares, price etc.), and tried to time it exactly the same. Then we'd switch places - I'd be on Cyber, she on Datek. After running dozens of such tests on different days, I figured, my conclusions were valid and equalized for any possible tiny differences between our speed of entry and other variables. The reason I ran such a test, is because initially I just had the *impression* Datek gave better executions, but I could find no explanation for it. So, I figured, I must be wrong. Well, it's absolutely right. I still have no explanation, and don't know where to even begin looking for an answer. I can't think of a technical reason, but the data is there.
Anyway, I use Datek in conjunction with LII, and the ISLD book, and I regularly buy at the bid, sell at the ask - though on the other hand, I am often willing to "give up" up to a 1/4 point to get my trade. Though sometimes, I enter a quote solidly outside the inside, and get filled by Datek! Again, I don't have an explanation. Bottom line, somehow, it works for me. When using Cyber, I use very few "tools" - I avoid SOES, and try not to Snet - direct ISLD is it, for me. Another odd thing - Datek gives me great results for listed issues! Lest you think I'm madly pro-Datek, I hasten to add that I've been a vocal critic, and frankly I think they are too unreliable to use as a daytrading platform - you should always have another broker lined up, in case of failure.
Sorry for the long ramble, but even though I've been daytrading for close to 2 years, I still consider myself a novice, and I'm always anxious to learn from those with more experience. Your help is appreciated, as well as all your very informative posts. Keep up the good work!
Good luck!
Regards,
Morgan |
