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

To: Herc who wrote (3876)	9/15/1999 1:12:00 AM
From: Dan Duchardt	Read Replies (2) \| Respond to of 18137

Maybe your question got lost in the shuffle. Here's a somewhat delayed reply: Direct access brokers give you varying degrees of access to one or more ECNs, but this is only one of the options they give you. They generally allow you direct access to the market makers via SOES and Selectnet, as well as opportunity to "bypass" them with ECNs (although you might find MMs using ECNs too). They also allow you to send electronic orders to the exchanges. I have yet to read about a daytrader in Forbe's richest people in America. It must be tough. I think you will find few of them (if any) who have any desire to be in the Forbe's club. Most of them are content to enjoy the fruits of their effort in relative anonymity.