here's a couple general order execution questions:
What's is everyone's opinion of the "smart" and "cybersmart" order executions. I've been using cybersmart executions for a little while now. Limit Orders Only... I'm still kinda scared to try a cybersmart market order because the cybertrader documents don't say how fast the order will be adusted (by a teenie at a time)...
Today, I had a tough time getting filled in some fast stocks. Also, got caught without enough momentum and took a big 2 point loss on a stock. Ouch... I've got a good, fast cable connection with great ping rates. So I know latency isn't the problem here...
Anyway, does anyone have opinions about "smart" execution vs. manually deciding how to place the order? How about "delta" executions? I understand that this is for Snet orders only? Is there a better way to jump in front of everyone else (i.e. ISLD)?
How about using ISLD and SOES in a FAST moving stock? SOES seems to be a bad thing, since the MM has probably already been hit...
ISLD is very fast, but what about locking/crossing problems.
I'm sure everyone has good opinions about order execution. I'd love to hear what you think...
Also, it's my understanding that on Monday (4/12), CyberCorp, is going to have a new execution method (called "cyberxchange" - aka "SuperECN"). Maybe this new "CORE" system will simply intelligent order execution. Obviously, cybercorp has recognized a need for better executions.
Fred Martin |
