Wily,
I tried the NASDAQ button today on INTC with limit orders to get in. Once again, it didn't work in a fast market. That is, the fill didn't happen. Worse than that, the cancel took too long to come back with a report (i.e., that the order had in fact been cancelled). Once again, I had FIDO's web site going and the fills came back quickly, as did the cancels when I had missed the price.
Clearly, what is going on is that FIDO must be matching up orders against their own in-house MM (at least for some stocks, like INTC, DELL, CSCO). So, even if only 100 shares show on the ASK (and I generally wait to pounce until the very last moment, when it is clear which way the stock is heading for the next 1/16th), FIDO must use its own inventory to complete my entire order of 500 shares.
Notwithstanding the above, it has only been 1 week and I've more testing to do. Perhaps Watley will be fine for position trades. Plus, it is nice to have a quote system tied in with a trading system.
Best,
Gary Korn |
