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Strategies & Market Trends : The Final Frontier - Online Remote Trading

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To: TFF who wrote (2165)	1/6/1998 6:36:00 PM
From: Eric P	Read Replies (2) of 12617

Irby: Do you have your account open now at Watley? Do you get 1 second executions on >80% of your SOES orders? I would be very interested in switching to Watley if it would result in consistently faster executions. I am with Castle and they have executions as fast as 1 second, AT TIMES. However, often - especially in a fast market, the orders will timeout. I have always assumed that it was due to the market makers taking advantage of the rule enabling a 20 second delay to re-post or back off their bid/ask after they take an execution. With stocks like INTC, DELL and CSCO, I have only gotten fills ~30-50% of the time on a SOES order. In the other cases, I assume the marketmaker decided to back off of his quote after the delay and the price drops to the next bid/ask level, cancelling my order. Remarkably, quick fills tend to have a greater likelihood of price reversal and unfilled orders tend to be followed by price continuation. ;-) Am I correct in assuming this is the cause of missing these trades? Do you have any of these problems with Watley? Does anyone have better luck with other brokers? Happy Trading, -Eric

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