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Strategies & Market Trends : DAYTRADING Fundamentals
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To: Dan Clark who wrote (8230)5/4/2000 11:49:00 PM
From: OZ  Read Replies (3) of 18137
 
I agree that being able to scale in and out of an order is a major factor when it comes to bottom line P/L. My broker allows me to trade up to 1000 shares of any single issue in one direction as only one ticket. I.O.W I can buy 1 share of JNPR 1000 times in one day and just pay one ticket. On the flip side, I can sell it as 1 share 1000 times in a day to get out.

It is nice if I trade say 300 shares of something in the morning and sell it for a profit. Then in the afternoon I can buy and sell another 700 as a "free" ticket. If I did 300 shares each time as a round trip, three times a day, it would be a total of 2 tickets as opposed to the 6 tickets most would pay. I cannot imagine being enslaved by a 5 minute time requirement as to when I should trade. Even worse, I cannot imagine having to pay a ticket for a tiny partial fill. That would really suck. I imagine this could really help a scalper that trades a small group of stocks.

It looks like CyberCorp is really doing much to make their product a better product and not resting on an laurels. RT3 on the other hand is an extremely dated piece of software IMHO. Another decent platform is Trade-Cast Elite (http://www.trade-cast.com). It had good order execution capabilities when I used to use it. Though with the new SOES, this will be less of a issue.

OZ
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