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

To: Threei who wrote (7110)	3/4/2000 5:19:00 PM
From: Jon Tara	Respond to of 18137

FWIW, Preferred has given me a couple of trade adjustments lately on bad NITE fills. I normally let them go, like you, but these were particularly eggregarious cases, and I didn't want to let them get away with it. It wasn't so much the money, as much as I wanted to make sure that Preferred let NITE know that their customers are balking, and that they might be on some thin ice. I do know that when NITE gets really bad, Preferred switches to another MM for the rest of the day. I do think it's important for people to complain - enough complaints and NITE will back-off. I do agree with Vadym in general - execution risk is just one more factor that you have to deal with in the market. An important aspect of successful trading is figuring out the most advantageous way of getting your trades executing, and weighing the reward with the risk. I don't spend too much time blaming anyone - just try to figure out a way to get around the problem. If I figure out a way around it, and others don't, I have an advantage.

To: Threei who wrote (7110)	3/4/2000 6:12:00 PM
From: Dan Duchardt	Respond to of 18137

I wondered why the arrangement between Interactive Brokers and MASH was so short lived. All of about 2 to 3 weeks as I recall. Guess they have too many good traders. It was nice while it lasted. As a sidebar, doesn't this make a case for some of the big firms entering the arena? I have an IRA account with Merrill Lynch, and am not pleased with the slowness of the interface for placing orders and some other limitations, but I like seeing my limit orders pop up as MLCO on level2 when it's a stock they make a market in. Confirmations are way too slow for my tastes too, but I gotta say that if my order gets through the web page before the market moves away, executions are very good. Now if they would just grab somebody's non-browser order entry software and loosten up a little... Dan