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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 652.53

-1.5%

Nov 20 4:00 PM EST

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To: John T. who wrote (24027)	8/27/1999 7:37:00 PM
From: Matthew L. Jones	Read Replies (3) of 99985

Interquote Users: I just downloaded the newest version (beta) of Interquote. The version is 3.0.14. It has Level 2 Nasdaq Quotes. This is sooooo cool. I suggested this option to them last November and Greg (the chief program developer who I work with has been working on it ever since). What is cool is that for the day trader or swing trader, it is a tool that is a must. A lot of you are probably familiar with Level 2 so I won't waste your time talking about that, but... Here is the cool thing: Real Tick 3 (the current trading platform that everybody uses to daytrade is unable to bring quotes into a spreadsheet format. Therefore guys like me are unable to crunch data in real time while having their platform up. I had to have two separate quote services. One to crunch numbers in real time and the other to trade from. This is an industry first if I'm not mistaken. And at least right now, Level 2 is no additional charge (at least for me... I'm not absolutely sure this is the normal policy). I'll keep the thread posted about how it works. They have an agreement with a discount brokerage who is doing what I understand to be "direct access trades" (ECNs and MMs) for $8 per trade. If this is true it will be hard to beat this package (real time level 2 for $79 per month)! Matt

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