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Strategies & Market Trends : The Final Frontier - Online Remote Trading
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To: jlonj who wrote (4028)5/8/1998 12:40:00 AM
From: Sword  Read Replies (1) of 12617
 
jlonj: I wrote this message in response to your private one to me, but will post it here since it may be of general interest to others as well.

In regard to brokerages, I have three: Lombard, Dreyfus and SouthWest Securities (MB Trading). Only MB Trading is really suited to daytrading. The others I keep for my long term investments. I can almost use Dreyfus (my alltime favorite brokerage) while consulting my MBT screens, but have calculated that I lose approximately 20 to 30% of my trading profits due to time delays in execution and less freedom to route orders. This is a huge amount in comparison to the $5 commission difference.

The biggest problems with online daytrading brokerages is not their software or internal routers but the internet. I have three ISPs as of right now (Microsoft Network, MCI and Sprint). Only the Microsoft Network ISP is fast enough. They have more hops (12) vs. MCI (9) to the daytrading server at MBT but they don't go through the Chicago routers like MCI does from my location (LA). Chicago has intermittent delays of up to 2.5 seconds which is terrible for a trading connection. Sprint doesn't allow my modem to connect at higher than 28 BPS for some reason (probably my problem, not theirs).

I plan to install a connection to a UUNET or WorldCom frame space from a PacBell local loop in the near future. I am preparing for the next big market crash. I don't want to be on the internet when that happens.

-Sword
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