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Non-Tech : CYBERTRADER

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To: William W. Dwyer, Jr. who wrote (2177)	3/27/1999 10:48:00 PM
From: Jay Fisk	Read Replies (2) of 3216

from #8435661 Is this a fact ? """Here is the catch about cybertrader. They have added an unnecessary and useless feature to their software that does not allow you as a seller to post an ask price lower than the inside bid in the island book, or as a buyer to post a higher price than the inside ask price in the island book. This, in turn, forces you to try to match the inside price each time and re-enter your order when someone else got that buyer or seller you aimed for. The chances are that you never get filled because you are competing against other day traders who have a great advantage over you. Their software allows them to choose how deep in the book they want to go and will fill them from the top of the book, going down the list until it reaches the price that they put in. This allows them to have a far better chance of getting filled, while still getting the best possible price(s) available.""" Jay

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