Datek Brokerage $9.95 a trade Message Board

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Non-Tech : Datek Brokerage $9.95 a trade

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To: Jon Tara who wrote (10784)	1/17/1999 3:04:00 PM
From: bgavlick	Read Replies (1) of 16892

Jon, My experience with ISLD is through my real time trading system with MB Trading, (been trading for 2 years with them)before that I traded with Lombard and Ameritrade. The reason I have been lurking on this thread is to find a decent broker to swing trade with, I need to have stop order capability where as with a real time execution system (ie. direct access to the market)you have no third party to execute stop orders for you if you walk away from your computer or run to the store or something. Ameritrade stinks- MB Trading is fantastic for instant execution for day trading. ISLD execution in the real time trading world is instant, no waiting, if someone has the shares at the bid or ask you are looking for. If you get a partial fill and there are no more shares left for sale on ISLD at your price then the rest of your order is cancelled, BUT it only takes 3 seconds to execute another order. The advantage to using ISLD is there are many times when you can get BETTER fills on your order. As an example on friday I was trading MKTW ( Market Watch),I placed an order on ISLD when the stock was trading very rapidly at 103 and received a fill at 101 1/4. I did the same thing on CMGI 3 days ago, the market was at 114 and no one was on the bid on ISLD, so I tossed out an order 3 points below the ask on ISLD and another daytrader got scared and hit me for 300 shares when the market was moving fast. If DATEK keeps your order live until it completely fills no matter what the market is doing that is great, I'd be very interested in knowing how they do it. I,d also like to know how well stop orders are executed from anyone that would care to respond. Happy trading to all...bill

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