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

To: Eric P who wrote (8271)	5/5/2000 2:08:00 PM
From: brec	Respond to of 18137

... Subscriber Only ISLD order. I assume that MB offers this type of ISLD order Nope.

To: Eric P who wrote (8271)	5/5/2000 2:20:00 PM
From: underdog430	Respond to of 18137

Eric, As brec just noted, MB Trading doesn't allow Subscriber Only ISLD orders and I've heard that even Island is going to stop using them. As a result, it is possible for you to get a partial fill on an Island order which forces you to enter another order resulting in another commission at MB Trading. MB Trading does now allow changing ARCA orders which is a significant improvement but a true five minute fill policy (or even better, the deal OZ referred to at ProTrader) would be much more generous. Mark

To: Eric P who wrote (8271)	5/5/2000 2:59:00 PM
From: OZ	Read Replies (1) \| Respond to of 18137

This is not true if you place a Subscriber Only ISLD order. I think the sentence should say This is not true if you bid or offer* an ISLD order.* Subscriber only orders are simply a bid or an offer. If ANY Island bids or offers get partially taken, they just decrement and remain on the Island book. There is no difference in the way the Sub. only orders get handled. It is specifically the Island Immediate or Cancel (IOC) orders (FOK does not exist on Island) that get canceled upon getting executed with a partial order. OZ