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

To: Richard Estes who wrote (2744)	8/13/1999 5:12:00 PM
From: Paul Viapiano	Respond to of 18137

The last 15 or so posts contain some real gems and words of wisdom. It would do everyone some good to re-read them... Have a great weekend! Paul

To: Richard Estes who wrote (2744)	8/13/1999 6:12:00 PM
From: JB2	Read Replies (4) \| Respond to of 18137

Regarding finding realtime system testing: Now I remember, THAT's what the scalpers are up to all day---testing their own rt systems in rt. All this technotalk reminds me of why I'm headed towards a daytrading shop to do my trading. I'll let their staff worry about my feed, and quotes, and tick data (what the heck is tick data anyway??). All of which reminds me of my list of questions to ask a daytrading firm (aside from their commission and fee schedule) before setting up with them. I know I'm overlooking some essential questions, so please help me here if anyone has others to ask: Can I get daily trade confirmations, and when are they available? (because I want to review them daily at least) What clearing firm(s?) do you use? (because I don't want a fly by nighter I've never heard of. Alltech recently switched to Penson, and I haven't heard yet how it is working out and if the traders are pleased with it) Do you offer access to all ECN's? (I assume so, but I've heard of firms making it easier to use certain ones they are pushing for one reason or another. Like they try and direct all newbies to use ISLD) Is Insinet access available before and after market hours? Is there any way to place trades on the Pacific exchange that is open until 4 pm(pst)? What if I don't want to open a margin account, Can I just open a straight cash account? (because I don't want to use margin for the first few months while learning to use their system) Can I flip all my capital more than once a day? (believe it or not some regular brokerages will restrict that---I don't know about specific daytrading brokers and reg. T) How many trades a day do I have to generate to take up space on your floor? (because I'm not expecting to be their most prolific customer) Likewise is there any maximum # of trades permitted? (I just want to know the limits) Do you have any sort of rt simulation system, for a trial run?