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Strategies & Market Trends : Level II Trading

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To: Morpher who wrote (367)	3/15/1998 2:49:00 AM
From: Jack Zahran	Read Replies (1) of 1086

it would actually be beneficial to your order since it would increase the probability of the fill. I don't think I understand your point. I believe just because an order is represented on Island, it doesn't mean that it will be allowed to fill through Island. I think what is happening is that orders are being represented but held up until the brokers in-house traders get a chance to make a legal profit for the house. This can only make it harder for you to fill at the best prices. That's not Datek's fault I never said it was their fault, just an industry-wide practice. I do think that some of those prints you see are between MM's and orders on ECN's get a lower priority. The best a daytrader can ask for is control of his own order flow. When you place your order, you select your own preferences. Your not going to get this from a discount trader.

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