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Non-Tech : CYBERTRADER -- Ignore unavailable to you. Want to Upgrade?

To: truthcommission who wrote (3167)	12/16/1999 2:24:00 AM
From: euro	Read Replies (1) \| Respond to of 3216

Execution times are great,,but what really one needs to look at are the commissions that cyber-corp charges. Here are some examples with comparisons to two other firms Franklin Ross/Netreach and MB Trader. The following examples assume that the trader has been able to reach trading volumes at each firm that would give them the lowest base commission possible at each company. Of course each company is different in the number of trades they require you to complete in order to get the cheapest base commission. The best base commission structure at each company would be Netreach-$14.00 Mbtrader-$14.95 and Cyber $14.95. Of these three firms cyber requires the trader to do 100's of more trades to get the lowest commission 600 trades at least. MBTrader 400,, and Netreach i believe is the same 400. Given the above said here are how the commissions would pan out once the cheapest commission structure is achieved. ARCA scenarios 5000 sh order on ARCA a)Netreach-$16.50-they charge .0005/sh to use arca b)MBTrader-$14.95 flat rate c)Cyber----$66.45-they charge .0075/sh to use arca plus .0035/sh as a penalty for when you order over 1000 shares, ie .0035x 4000 shares 2000 sh order on ARCA a)Netreach-$15.00 b)MBtrader-$14.95 c)Cyber----$33.45 1000 sh order on ARCA a)Netreach-$14.50 b)MBtrader-$14.95 c)Cyber----$22.45 ISLD Scenarios 5000sh order on ISLD a)Netreach---$26.50-They charge .0025/sh to use ISLD b)MBTrader---$14.95 flat rate c)Cyber------$28.95-They charge .0035/sh for orders that exceed 1000 shrs, ie .0035x 4000shares 2000sh order on ISLD a)Netreach---$19.00 b)MBTrader---$14.95 c)Cyber------$18.45 1000sh order on ISLD a)Netreach---$16.50 b)MBTrader---$14.95 c)Cyber------$14.95 All three of the companies can potentially penalize the trader with per share fees for breaking a predefined single ticket volume or in other words the defined ticket. Cyber defines a ticket only as 1000 shares and starts to hit you with .0035/sh if you go over 1000 shares. Netreach and MB trader define a ticket up to 10,000 shrs so the reality of a penalty is rarely seen unless your buying a huge lot. With cyber it would or could become routine to see the penalty hit your account as many traders often exceed 1000 shares in a typical order. The rest of the penalty fees come in to play when the company penalizes the trader out right for using a certain route. This would be witnessed at both Netreach and Cyber. Cyber justifies the substantial premiums they ask traders to pay based on their software support tools such as the hammer and some other gadgets of which include a startrek 3-D visual aid that i dont feel like going into. Id be interested in hearing from cyber traders if they feel like all those tools are worth paying the premiums their commissions are adding up to.>?? Netreach is out of the picture when comparing these three companies as it uses realtick and one would be crazy to use it over mbt which is the same and much cheaper. Please correct me if i got my figures incorrect. Thanks

To: truthcommission who wrote (3167)	1/1/2000 10:43:00 PM
From: Mad Bomber	Read Replies (1) \| Respond to of 3216

Execution times totally depend on price and routing mechanism and market direction. For example, if a stock is tanking and you want out, you could try a selectnet preference for a particular MM below the current inside BID. That is a common strategy touted by expert seminars. Unfortunately, many times the MM will just wait the alotted time period and then adjust their quote ("back away"). While you are sweating bullets. On the other hand, you used to be able to do the same thing on the Island with a "subscriber only" order and it would execute pretty much as soon as you press the button! Thus, the key element of day trading IMO is getting executed when you want even at market! I found that the odds are stacked and that you can have a whole day's hard work kissed away by one difficult execution. Not sure how scalpers survive anymore?? I think traders have more future in swing trading. MB