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Strategies & Market Trends : Trading For A Living

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To: Eric P who wrote (1556)	4/17/1999 9:43:00 AM
From: Mama Bear	Read Replies (1) of 1729

Eric, I am pleasantly surprised to find someone else who has come to the same conclusion concerning the advantages of auto execution as I did. It seems common wisdom to curse the brokers who take payment for order flow. A lot of folks will claim that you're getting 'ripped off' for 1/16'. Sometimes I think about that when a selling panic sets in and I see orders crossing on the ECN's 1/16, 1/8, even 1/4 under the inside bid. I know that if I were holding (I wouldn't be waxing philosophic if I had a position) I would have the luxury of executing a sell at the inside bid on my web based broker's system, and wonder who's really got the advantage. The only true advantage that I see in the direct entry based systems is the ability to execute pre and post market, and immediate confirmations of trades. Sometimes I have to wait a maddeningly long time to be confirmed, although after all this time I can bet with near 100% certainty that the order I placed was in fact auto executed. I believe that I will be setting up an account in the near future with Yamner & Co for the off hours trades. Barb

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