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

To: Dustin who wrote (8235)	5/5/2000 6:02:00 AM
From: E. Davies	Read Replies (1) \| Respond to of 18137

I have used Cyber for about a year now and believe your interpretation of the 5 minute rule is wrong Following is an edited printout from yesterdays trading in JDSU. You will notice that there are free fills that are several minutes apart at different prices. You can also see that I did a buy to cover followed a buy long 2 minutes later that was also "free" (free does not include ECN charges). Eric Stock B/S Time #shares Price Commission Short JDSU S 1105 -80 92.937500 -7,435.00 14.95 -7,419.80 Short JDSU S 1105 -120.00 92.937500 -11,152.50 0.00 -11,152.12 Short JDSU S 1117 -100.00 93.187500 -9,318.75 14.95 -9,303.48 Short JDSU B 1121 300.00 93.250000 27,975.00 14.95 27,989.95 General Margin JDSU B 1123 200.00 93.015625 18,603.13 5.00 18,608.13 General Margin JDSU B 1123 100.00 93.062500 9,306.25 0.00 9,306.25 General Margin JDSU S 1125 -100.00 93.250000 -9,325.00 14.95 -9,309.73 General Margin JDSU S 1128 -200.00 92.875000 -18,575.00 0.00 -18,574.38

To: Dustin who wrote (8235)	5/5/2000 10:48:00 AM
From: brec	Read Replies (2) \| Respond to of 18137

I have used Cyber for about a year now and believe your interpretation of the 5 minute rule is wrong. You can not place seperate orders within the five minutes. The 5 minute rule means that when you get a partial fill you can let your order sit there, and if the rest gets filled within five minutes there is no extra commission (I'm an MB Trading customer.) Are there actually brokers who charge a separate commission for each partial fill of a single order? E.g., bid for 1000 on ISLD, get 23 partial fills and -- regardless of time taken -- get charged 23 commissions? I've never encountered a broker who does that, so I'd be interested to know if I've just been lucky.