Actually, it raises an interesting question...
What happens when direct-entry software becomes so easy to use that everyone can use it and the large "herd" of investors realize that they have little to gain from working with large, traditional brokerages?
CyberCorp's CyberX platform is very close to this software ideal. I use it and like it a lot! Not perfect yet, but it shows the way. Easy to use, fast executions, extremely fast cancellations and at $14.95 per trade, it's inexpensive.
Financial information comes from hundreds of internet sites. Internet-based scanners look up stocks easily and quickly. EOD and realtime data is available in varying qualities and price ranges. I use QCharts - fast, easy and inexpensive for what you get. Browser-based sites provide data at even lower cost. Many sites provide high quality, educationally oriented information. For instance, www.hardrightedge.com has excellent training for the beginning to advanced trader. www.pristine.com is another. Bottom line is that financial information and training is everywhere and inexpensive.
So fast-forward a year. It's August, 2000. Order entry and analysis tools are even better. Financial information is better, cheaper and more available. So who's the "daytrader" that the press and large instituations can bash? Probably a large portion of "investors". At some point between now and then, the media that is currently driven by the large financial institutions will realize that they are bashing the average trader/investor, not some splinter group. Or, to misquote an old phrase...
I have sighted the enemy... And, it is us! |
