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The information learned from an office is primarily useful to an active daytrader or scalper.
I appreciate your concern on the use of my language and I will try to tone it down. The message that started this had to do with SOES trading from a remote site. I believe that as difficult as SOES trading is, one must try to obtain as much information as possible. By being in an active office environment there is information that can be learned from the others around you. For example, anonymous trades on Select Net. It is of great importance for daytraders to know when a market maker is taking out select net bids and offers. Most importantly, when a market maker is buying at the offer or selling at the bid. By using other senses, e.g. hearing, in addition to sight, a trader is able to process more information. There are additional reasons for an office environment including the economies of scale and speed.
For those that are less active or have different techniques such as position trading, a remote site may prove to be better for the individual, but for daytrading there is little gained by being alone.
As for our relationship with Cyber, we have always used their software and have been active in development of most of its features. We currently have some online traders, but our most successful traders are in offices. We typically ask traders who want to trade remotely if they would be interested in heading up an office to take advantages of economies of scale. It is easier and more economical to service as few as three active customers in an office than online. When we roll out our online remote program in the future, we will hope to service the segment of the market that you currently operate in. We do not have the resources to do both at this time, and we have decided to concentrate on office active daytrading or scalping.
I hope this clears up any misunderstandings
ps
you misspelled Block (Bloc) :-) |
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