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Strategies & Market Trends : DAYTRADING Fundamentals
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To: Eric P who started this subject8/4/2001 2:21:44 AM
From: OZ  Read Replies (3) of 18137
 
I have to say that so far I have loved this new SOES. I
just look at my L2 box and decide on SOES or ECN and get in
or out like lightening. This is great. The other interesting
thing is that I never look at level 2 and try to figure
out "intentions" or "thinking" of the MM's. With the new
SOES I actually do give it a bit of thought since it is a
bit more clear to read. For example, now I can knock
them off a level and know in advance that I am going to do
so with my order where before this was not possible. I also
feel that my job is easier now because I do not have to
cancel SNET orders in order to prevent oversell violations,
call MM's and argue with them about backing away and also
because I do not spend so much time working an order to get
in or out of the many stocks that I like to get into at one
time during critical inflection points. SNETing into 30
stocks withing 5 or 6 minutes was very difficult where not
it is relatively easy to do. What I really like is bailing
on all of those at the touch of a button and being out in
under a few seconds for the whole portfolio with much less
slippage than before.

Oz
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