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Strategies & Market Trends : From the Trading Desk

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To: steve goldman who wrote (2501)	2/2/1998 8:27:00 AM
From: Mike Schoonmaker	Read Replies (1) of 4969

Steve, I concur that executions are paramount in the success of short term/daytraders. However, for a position trader, 1/8 or so typically does NOT matter, any more than the 35-55 your firm charges for commissions. As far as outperforming ANY online firm, I would take issue with that if you are including online SOES shops (Watley, MB, etc). I fail to see how you could improve. Perhaps you could enlighten me? Finally, Datek DOES make the order active re:stop loss order when the BID falls to the stop price, not a print! They then offer it out on ISLD, not SNET or NAZ mm, as far as I know. I can always see my specific orders out on the island book. Schoonie

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