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Strategies & Market Trends : SOES Trading

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To: TFF who wrote (999)	11/9/1997 9:55:00 AM
From: Chris Block	Read Replies (1) of 1618

Irby: From a marketing stand point, the term SOES trading gets the message across quickly. Our customers are investors who choose to make money NOT by analizing the fundementals of companies, NOT by looking at technical charts, and NOT by creating a diversified portfolio of 7 to 10 stock within a certain risk parameter and buying and holding; rather, they make money by removing the short term frictions that exist in the securities markets. In the last five years I have not met a trader that stricly used SOES. We have always used multiple systems, Selectnet being just one of them. I have not done sufficient analysis to see if there is a statistically significant correlation to the number of trades in a day and the level of profit. However, an observation that I have made is that the customers who make the most transactions are also the most profitable. A very active trader does between 200 and 300 transactions per day. Imagine if the head trader at Goldman Sachs told his market makers not to do more than 20 trades per day. Please don't call it the SOES sysem; the final S in SOES stands for system, it's redundant. (similar to saying "DVD disc") :-)

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