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Bill,
<My personal experience is that I get more trading done quicker via ISLD than via SelectNet. Obviously, it's very important to know which to use and when>
OK when do you use which system and when and why?
My concern after a few weeks of Real Tick, Terra Nova etc is slippage. If you read Mark F in his book, Oscar V, Baron R, etc they are all good at singing the praises of EDT execution systems. But they totally avoid risk management, which is much more important to me than the big gain. Sure things are fine if you get in on momentum and get out on momentum but I've stayed in the game a lot longer controlling my losses after I've been wrong.
SOESing out in a turning market is a sure way to slippage, isn't it? In trading liquid stocks, ISLD should be an advantage as they are at the inside almost all the time. But I need to know I can take out another trader's bid when I want to.
Can I do that with electronic day trading or not? If not, they have the same problems as discount brokers.
You can't trade for 1/8th or 1/4ers losing an extra 1/8th and 1/4 all the time.
Alan |
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