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Strategies & Market Trends : SOES Trading

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To: mark mallen who wrote (994)	11/10/1997 4:25:00 PM
From: Mark Davis	Read Replies (2) of 1618

You are correct about trading for 1/8's and waiting for the strong moves. Problem is , the greedy bas*ards that run SOES rooms are all over you if you're not producing ticket income for them. Basically, the SOES game is a scheme to make BLOCK, ALLTECH, et al, rich while you take all the risk. I have seen GREAT traders make lots of money at these offices, but the average guy is not GREAT. The ticket charges are onerous at 40-50 a trade (in & out) and the SOES brokers really don't deserve that much of a fee. Add in another $15 per side if you use Instinet(INCA) and you're talking up to $70 to get in and out. Lot's of people making SURE money off you, while you struggle to eke out a living, or maybe cut your losses. Good luck!

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