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Non-Tech : Trading with Castle Online
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To: Dave Triplett who wrote (162)10/26/1998 1:05:00 PM
From: Michael Turner  Read Replies (2) of 186
 
Hello David, Commission is, IMHO, the least costly part of the trade. Slippage is where the real cost lies.

A system like CyBerTrader or Real Tick will give you access to what is called SuperDot...a system that routes your orders directly to the floor of the exchange (via your broker's backoffice). This is the fastest way to trade Listed securities.

Other firms like Schwab will attempt to cross your order from existing inventory, or sell your order to a third party firm. In either case, there is a very real possibility that you will not get the best possible fill.

I hope this clarifies the difference for you.

Regards,

Michael Turner
Author
DayTrading into the Millennium
tradersresource.com
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