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Gold/Mining/Energy : Daytrading Canadian stocks in Realtime -- Ignore unavailable to you. Want to Upgrade?

To: trade15 who wrote (24662)	11/20/1999 11:07:00 AM
From: The Devil Dog	Respond to of 62348

The argument that we all go through with ourselves is the cost of all these charges to do our work to be successful. I think you will find that Everyone system is different, The Chief I think phones all his orders, What about Keith's, Ward's,Vitals,Camerons, Big Buks, I'm missing a bunch here, but we all have a different systems. Market Data, commissions, Bandwith, computer hardware, training and so on. All lot of time the adage applies you get what you pay for. Another problem is we most often expect too much of a system. We expect perfection on a peon's budget. We try to make system accomplish a task of a Rolls Royce instead of station wagon and wonder why we are not making money. I started out with a p133 and 1-15" monitor 56K access & CSW and a TD Greenline account, under funded but tons of determination and enough knowledge to get me in trouble ;o) You can bet I expected the world and performance out of that. It was a huge struggle, TD IMO constantly screwed up and yet really I expected far too much of them to do the style of trading that I was doing. As my trades increased and portfolio, was upgraded to a Presidents Account. Even with a more direct phone line and higher commissions they are still not able to achieve the execution and reporting and turn around plus shorting capabilities to be real successful at trading. I bet you in a year I lost or gave up 40 - 50,000 dollars in gains and potential. Execution is where you make your money, reporting back is paramount as to your knowledge of your position. Now I have upgraded my system to (Gettin old by todays machines;o) A P3 400 128 ram 3-19" monitors ASDL access Still have the TD pres Acct for longs, Schwab account integrated with PCquotes for Daytrading. I would not even consider their web trading and using just CSW, only because the order entry and reporting is the same as everyone elses. I might be faster than all the other Big Boyz simply because they dont have the volume yet, they are working hard at changing yet. The PCQuote customers have there own division , although it still has to be routed to broker, the KYC rule is bypassed in a way cause you get direct routing to some one else instead of the standard review process. They have this auto feature that is still being fixed lots and a manual order entry which I use alot cause I change my prices constantly. To make this incredibly long story short (ha ha fooled ya ;o) I have put in place a more professional system incurred more cost because of it, and my performance has improved exponentially. I plan on doing this for the long hall and treat it like a business. When I ran my construction company I alway made sure I had the best tools for the job, I treat this business no differently. I am not say that you require the system that I have in place to be successful. It works for me. As the whole industry gets busier these web systems and ma&pa reporting systems will continue to loose you money and opportunity. You might save a little on Data and trade commissions, but how much you hair and profits are you willing to loose. WB I'm really sorry for how long the post is, forgot to shut up! ;o)