Wow what a day .
I feel sorry for the people that were shut out of their websites today or couldn't reach their broker.
To those people, if you are serious about daytrading, I give you the advice to check out your local daytrading or SOES firm.
I am not trying to promote a firm here , I am only familiar with a few companys,
but pay those outfits a visit, you might be surprised what they are offering.
You might pay a few dollars more compared with e trade or Lombard ( Most charge around 15- 20 $ a trade ) , but a least you have acces to the market.
Most firms offer more then just SOES, you could execute on Island, Instinet, etc
so our acces to the market was pretty good and our confirmations were instantanious.
When we had some problems getting filled on SOES( one buy took me 2 minutes), I found ISLAND to be a great help today.
When stocks are really running, like INTC after the buyback rumour was announced and you know you are not going to get filled within an 8 or so I tend to put in an island bid 3/8 or so above the ask.
Worked with amat , worked with intc, I had to pay a bit extra but the two stocks ran consequently 2 sticks so it was worth it.
I believe I got half of my fills on ISLD today, you guys should give it a try.
Also in a crazy market like today where market orders keep coming, buying on ISLD on the bid size was a breeze, you put in a bid 1/8 above the best bid and you are the inside market, often you can immediately sell it 1/16 below the offer.
Needless to say this only works with big spread stocks like SMOD< AMZN etc...
I can only offer you information on the shops in Southern California, I unfortunately do not have the adresses of every shop in the country.
One more thing if you set up to trade remote with one off those firms consider non web remote trading.
The firm I trade at does it with a dedicated phone or ISDN line and a router,.
It will cost you about 600$ but you avoid the internet , so non of our remote traders experienced any problems today , then again we have less then 50 lol.
Regards
Laguy6
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