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Strategies & Market Trends : DAYTRADING Fundamentals
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To: Eric P who wrote (8003)4/28/2000 3:18:00 AM
From: E. Davies  Read Replies (2) of 18137
 
I'm so excited about the possibilities of SuperSOES. I just can't wait!

My problems have always been with getting fills. All the trading skill in the world doesn't matter a tiny bit if you cannot execute a stop loss order. I cant tell the # of times I've had to chase getting out of a position all the way down until its time for the next reversal.

Either that or you pay 1/2 to 3/4 of a point beyond the inside to hit an ECN- and you better do that *fast*, because everyone else is chasing them too.

MM's have become an anachronism who do more to interfere with the market rather than help make the market. SuperSOES is going to radically change all that.

I think it is also going to have a powerful impact on short term traders in a way nobody can yet understand. No MM's holding up the flow will mean stocks move more quickly- yet at the same time I believe that the lag created by the MM's tends to make the short term swings larger than they might otherwise be. This leads me to think we may tend to see very quick movements from one quasi-stable point to the next, not necessarily easy to trade.

In addition as mentioned traders will start to be able to focus on the *when* of a trade vs. the *how* of one. This means that the *when* is going to become a lot harder to determine. You never get something for free.

Whatever happens, I'm sure it will feel a lot different than today and people are going to take some time to adjust.

I'd love opinions....
Eric
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