Hey Jim,
I don't follow this thread as religously as The Final Frontier thread, so I just saw your questions now.
>>>I would like to know how most of the traders here are trading?
For example,
1) what firm do you execute thru?
2) does that firm provide level II quotes?
3) what is the per ticket charge?
4) are you trading from home or at an office (Block, etc)
5) what are the pros and cons for your current provider?
<<<
I am using Manhattan Beach Trader, which is an intergrated package set up for active daytrading.
Yes they supply Level Two quotes as well as other Real Time market data from SP Comstock.
Ticket charges are discounted as the number of trades increase. Expect to pay around $20 or $21 dollars a ticket.
I trade from home.
Pros and cons? There are only a handful of options available for active daytraders who trade from home. Manhatan Beach is equal to or better than the others in every respect.
The only CON I can think of, is that even the very best execution system does not make your success certain. Having the most excellent trading toolkit does not make one an excellent trader.
To monitor market data with one of the most complete programs available (Real Tick III), to "work" your own order through the Small Order Execution System or through ARCA an ECN like Island , and to trade before and after the bell: these things are all on the cutting edge for remote daytraders and if properly used can increase profitability.
So no matter who you choose for your trading, Jim, you still face a great challenge.
Do some homework.
website trading-quotes.com
phone 888-790-4800
ask for Steve or Ross
also check the Final Frontier Thread for other ideas
I would encourage you also to go to daytraders.org
and get a look at the free channel on the IRC, during market hours there are over 350 active traders on the #daytraders channel.
You can learn ALOT about execution systems, methods, level II, etc. by visiting there.
Good luck to you Jim I hope you have a great '98
funk |
