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Strategies & Market Trends : The Final Frontier - Online Remote Trading
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To: Don Green who wrote (2062)12/30/1997 9:46:00 PM
From: TronicEye  Read Replies (5) of 12617
 
Don: I wholeheartedly agree with you on putting more importance on
studying market movement than trading speed. Still, once one has
been successful in the former, the latter suddenly takes a close
second in importance, especially if a market becomes wicked-volatile.

I have been routinely paying/losing a 1/4 point or more to get in
or out of a trade using Datek in fast markets. And it isn't always
possible to use resting orders, since the stock may not hit it.
Maybe I shoudn't be trading fast moving stocks with a web-based
broker, but sometimes that's where the money is.

I will be going to a high-end, institutional quality broker in early
'98, because saving that 1/4 point will more than make up for the higher commisions and fees. For a position/swing trader, this would
not be as important, but I am a daytrader. Again, I say this with full
appreciation for your advice that a trader be right (at least more
often than he/she is wrong!) about the direction of a market. That is
#1 in importance.
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