Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Jon Tara who wrote (7111)	3/4/2000 8:08:00 PM
From: Dave O.	Read Replies (1) \| Respond to of 18137

< Free Level 2 ain't "free", though > Gotta disagree ... no cost = free IMO. Higher commissions are meaningless to me and part of the game. I'll gladly pay $25 a trade and know I am filled immediately. Further, I can bail in a timely manner if the market turns against me. With a traditional discounter you can wait for minutes for your order to get to the broker and then more time waiting for a fill. TIME = MONEY. And splitting the bid/ask by even 1/32 on 1000 to get a fill more than offsets the discount brokers lower cost commissions. In the end one has to go the route they feel best about. I trade for a living so a discounter is not an option for me. I can't (won't) let a fast moving market potentially cost me hundreds or thousands of dollars that would be at risk with an online broker. Dave

To: Jon Tara who wrote (7111)	3/5/2000 3:16:00 PM
From: OZ	Read Replies (1) \| Respond to of 18137

I like having a choice with Preferred. I can choose NITE for $7.75/trade... NITE is fine more often than not filling marketable orders. When they are not, they are usually stingey for the entire day, so I switch to auto-trade and Selectnet for the rest of the day. I prefer not to focus on SYMPATHY from NITE and commission reducing strategies to boost my profits and rather depend on fast direct executions to almost all ecn's, good technical analysis, and emotional discipline. Question John: Do you think that NITE might have a motive for paying for people orders and on balance is making a profit doing it??? Or do you think that on balance they are just giving money away out of some moral kindness??? Then perhaps using your logic we can conclude that not only is free level2 not free but also that your cheap commission are not that cheap. It is the exact same argument is it not??? This will be my only post on the subject. I just thought that since you found it important to correct Dave that you in turn would appreciate being corrected too. And all of this for FREE too.<GGG> OZ