Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : DAYTRADING Fundamentals -- Ignore unavailable to you. Want to Upgrade?

To: Rick Faurot who wrote (1025)	6/18/1999 11:26:00 PM
From: -	Respond to of 18137

I second the prediction. -Steve

To: Rick Faurot who wrote (1025)	6/18/1999 11:53:00 PM
From: id	Read Replies (1) \| Respond to of 18137

<I predict if you succeed as a trader you will move up to a serious broker sooner rather than later.> Sooner would be fine with me <g>. Seriously, Rick and Steve, I appreciate all the varied opinions and I realize that saving five or ten bucks a trade on commissions while losing a tick or more on the entries is bad economics. I don't scalp or even do really short (few minute) trades generally so I don't feel broker speed has affected my trading nearly as much as trader ignorance <g>. Great thread. id

To: Rick Faurot who wrote (1025)	6/19/1999 8:11:00 AM
From: Eric P	Read Replies (1) \| Respond to of 18137

Just be advised that the majority of successful traders rely on either telephone brokers (Yamner, Brown) or legitimate fast execution brokers (MBT, Watley, Cyber etc). Datek is neither. Datek performed poorly in the thread's broker satisfaction survey, albeit with only two responses (not statistically significant). However, I would not go so far as to 'write-off' traditional internet discount brokers. I know that Gary Korn has been successful scalping using Fidelity, and was unable to find equivalent success with a 'legitimate fast execution broker'. The difference was that with Fidelity, he was able to get his orders filled quickly (2-5 seconds), whereas he was unable to get orders consistently filled dealing directly with the ECN's and market makers. I think this is a very legitimate complaint when dealing directly with the market. I am in the process of opening a small Fidelity account myself, to see how well they perform. -Eric