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Non-Tech : MB TRADING

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To: bruce bell who wrote (1254)9/13/1998 8:10:00 AM
From: TraderAlan  Read Replies (2) of 7382
 
Bruce,

I see from your other posts you are at Brown. I moved to Real Tick about 6 weeks ago. Brown stopped giving me the fast executions I had for 3 years. Those who still get them likely trade smaller size (than 1K lots) as broker MMs have started playing major games with larger executions.

RT is easy to use. But learning ECN execution requires time and concentration. Not taking the right entry/exit routes will cost you money and it's very easy to get caught in a downdraft w/o an execution if you hang around too long or choose the wrong vehicle to exit. I have sure paid my dues the last month but am starting to get the hang of it.

Also Level 2 will only help certain execution strategies. I have found, for me, it adds little or nothing beyond seeing depth (and even that is often misleading). Its benefit is with certain scalping methods AND when the market noise lifts and an MM is engaged in a major buy or sell strategy. Even then, much will be masked as clandestine activity through the ECNs.

Alan
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