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 : The Final Frontier - Online Remote Trading -- Ignore unavailable to you. Want to Upgrade?

To: Wayners who wrote (8314)	6/20/2000 5:37:00 PM
From: Dan Duchardt	Respond to of 12617

Wayne, In other words he has 90 seconds to decide whether he made money or not off me and if not to time out the trade and if I lost money--all of this is after the fact of course--then fill the trade. Technically, I don't think this is true. If he has an obligation to fill your order, he has to do so. For SOES, he does have 17 seconds after every execution to assess the market and decide if he is going to fill another order or move his price. If this carried over to SNET, then he has that advantage there too, but I'm not sure it does carry over. But being obligated to fill the order, and how long he takes to report the transaction are not the same thing. Thats why people demand immediate confirmation. I don't care as much about the print--just the confirmation. I agree, but you and I don't make the rules. I expect the confirmation and the print are tied together in most cases, and I don't know of anything that obligates the MM to confirm the trade faster than he posts the print. One action by the MM probably does both. But, I'm not the expert. Dan

To: Wayners who wrote (8314)	6/21/2000 11:54:00 AM
From: Michael Friesen	Respond to of 12617

It's a lousy system but for now we have to live with it. I agree that it is tilted in the MMs favor but there are advantages to being a small trader that the MMs don't have. Regarding your Selectnet fill - I usually cancel right away if it appears that (if buying) I am paying "top tick" of the move. Problem is, I can't cancel within 10 seconds of entering the order (another rule). But if the price starts going back down before I'm filled, I hit the cancel key in a panic. If the MM is busy I will be able to cancel before he fills me. I use Watcher software, through Broadway Trading, for this.