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Strategies & Market Trends : Trading For A Living

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To: Eric P who wrote (1556)	4/17/1999 12:52:00 PM
From: Dave O.	Read Replies (3) of 1729

A lot of good points you mentioned. A few thoughts of mine having traded both at a day trading firm and through a discount broker (where I now trade). I never pay the ask, at worst I'll split the bid/ask, whether I'm saving 1/16 or even 1/32. Now, using an ECN at a day trading firm adds to commission costs. Yes, ISLD may be only $1 per fill but you can get multiple fills and INCA is (was) .015 ($15/1000 shares) where I formerly traded. So you could pay as much as $40 each way. With a discount broker I can buy at the bid, granted not in a fast moving stock, which I rarely play anyway, and I don't pay more than $19.95. Bottom line is more per trade goes into my pocket by not incurring the added ECN costs. Last, saving 1/16 by buying at the bid, usually pays for commissions unless it's a very small trade. And I don't feel the "need" to do 15-20 trades a day through a discounter as is often the case at day trading firms. Dave

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