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

To: fftrader who wrote (3725)	9/9/1999 3:00:00 PM
From: Eric P	Read Replies (1) \| Respond to of 18137

Eric, Would you please explain RT3 platform to me. Real Tick III is the leading trading software for active traders. It provides access to Level II market maker data, Time and Sales trade data, charting, studies, alerts, order entry, and other features. The following links show some sample ways a trader can customize their Real Tick III screen to suit their preferences. These examples are from The Executioner website (http://www.executioner.com) executioner.com executioner.com executioner.com executioner.com Also was wondering if you or other folks out there think I can start daytrading(no scalping)with just a discount broker and a real time charting service(have IQ Charts)only, or do I not stand a chance without Level II,etc? Yes, it is possible to successfully daytrade without Level II data. Personally, I think it is more difficult, but some people find Level II data to be confusing/distracting and actually prefer to not use Level II. In general, without Level II you will need to focus on longer time frames in your trades (~2-4 hours) in order to improve your odds of success. Good luck, -Eric

To: fftrader who wrote (3725)	9/11/1999 1:01:00 PM
From: Paul Viapiano	Read Replies (1) \| Respond to of 18137

Also was wondering if you or other folks out there think I can start daytrading(no scalping)with just a discount broker and a real time charting service(have IQ Charts)only, or do I not stand a chance without Level II,etc? thanks Level 2 can be very misleading, especially with internet and momo-of-the-day stocks. Sometimes I'll see a huge buildup of offers, only to see them vanish quickly due either to heavy buying or lifting. What looks like a wall of sellers many times gives way; the stock just chews through the levels. And vice-versa on the bid side on the way down. Level 2 may not be necessary, but it helps to see the action unfold along with a time-and-sales trade window beside it. Real-time charts are very important. I used IQC for a short while but the problem with them is that the charts only refresh every minute; they are not real time. Whether you are scalping or not, the free flow of information is important for getting a "feel" for the action. I trade with an online broker and eSignal and have found it extremely reliable...the next step would be a dedicated connect with a broker like Executioner, etc allowing access to ECNs, etc... Paul