Thats a real tough question because it varies so much on what market conditions are like, the stock, action in the individual stock, how well various routes have been performing..
I would say in general , in fast moving stocks, where there is little rrom for improvement, where you just want to get it fast, i would use one of about 5 auto-ex systems that Yamner utilizes. If there is a little room, I would bid/offer on one of the 4 ECNs we have direct linkages to and setup an autoex to protect.
Its the slight variations, the combinations, the skill of the EXECUTING trader that makes it work.
I have always said that there are three components to being a good investor/trader. Stock picking (whateer your time frame), stock timing (whatever your timef frame) and execution (depends on your firm). If you are individual using a direct order entry firm, you just added two additional items, he quality of your technology, including your machine, your isp connection and the b/ds isp, computers, etc (something you rarely have control over), as well as you understanding of the idiosyncracies of the technology, the execution systems....as well, many do not offer such a broad range of systems, particularly autoex systems, let alone upto 5 such systems.
With the right firm, all you have to do is focus on items 1 and 2. Few relationships are as important.
Tim, tell me what systems you have and I'll give you afew ideas of what you should be utilzing..
Regards,
Steve@yamner.com |
