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 (1050)	6/19/1999 1:00:00 PM
From: TraderAlan	Read Replies (1) \| Respond to of 18137

Rick, <I certainly agree that there are a few veteran traders who have never clicked with L2 and fast execution multi-route systems. I contend that these traders are a very small minority> The majority of ALL traders are still trading through discount brokers rather than EDTs. Your statement implies they must be all failing. In fact, I suspect the success rate remains higher with discount brokers than EDTs, probably because discount systems don't disadvantage traders who don't want to make 50 to 1000 teenie trades per day. Alan

To: Rick Faurot who wrote (1050)	6/19/1999 2:14:00 PM
From: Richard Estes	Read Replies (1) \| Respond to of 18137

"These traders do any where from fifty to a thousand (yes, a thousand) trades PER DAY and they have no problems getting fast executions" As you say about Korn "In my experience this is hardly a winning strategy.". a thousand trades a day isn't trading, it is playing Nitendo, and getting random results.

To: Rick Faurot who wrote (1050)	6/19/1999 8:27:00 PM
From: dpl	Read Replies (1) \| Respond to of 18137

Rick,I have been trading with Fido for about 20 years. Here are some of the positives. 1.They rarely go down. 2.Can trade at the open unlike some discount firms which are clogged up. 3.Get price improvement probably 1/4 of the time. 4.If I need to get in or out I can place a "loose" limit and know I will always get the bid/ask.They or the MM they go through have never screwed me with one of these trades. 5.They are the most honest firm I have traded through and this includes the full service ones.If they mess up they will pay.If you do you will pay. 6.If there are down for any reason you can trade over the phone and not have to wait on hold for a long period. 7.They will bend over backward to solve any problem(customer service) Example..I had to download a new version of their software which was 6 meg in size.My ISP kept crapping out at about 3 megs.They let me dial into a private MCI 800 number to download the file(in 17 mins.) I keep trying to find reasons to drop them and never can. :-) P.S. You would be amazed at how many successful traders have never used level II quotes. David