I don't know if I can relate to this experience, except back when I was using an online broker. With the direct execution, I can get immediate fills on any movement, provided I'm willing to chase the spread for it.
Of course, that's not what I like to do. The way I see it, in this game, the market makers are out to make every penny they can, and they will do everything in their power to shake them out of you. You can't blame them for that; that's their job. All you can do is beat them, or get beaten...
I do think the direct execution gives at least one an advantage, in being able to purchase stocks off of other people, bypassing the market makers. This prevents one from being bitten by the 10 second, 30 second and 5 minute (7 minute?) fill rules the market makers so often use to their advantage...
Simon. |
