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Non-Tech : Datek Brokerage $9.95 a trade -- Ignore unavailable to you. Want to Upgrade?

To: Richard James who wrote (15064)	10/21/2000 7:58:55 PM
From: RockyBalboa	Read Replies (3) \| Respond to of 16892

Richard, you addressed important questions. For nasdaq stocks and in part OTCBB I use Datek since 2.5 years. On average I do more than 5 trades each day (I don't recall the exact number but it is definitely over 5). I looked at the streamer but I do not use it. I can sometimes use a Reuters terminal and I regularly use qcharts. (If the streamer was able to draw intraday charts and tick charts and integrate ECNs and MMs I would use it more). I have heard that a L II streamer is in the marking which makes sense, especially if priced below $50. Datek has no order routing (like Cybertrader has) but perhaps it is being implemented one day, maybe with a first step which allows to place ISLD-only orders. Sometimes it would be a help, especially if MMs (or that what I perceive over the net) is slow in updating quotes and ISLDs quotation is moving "ahead" of the consolidated or L II quotes. Datek experienced only few brownouts, but sometimes it is necessary to manually change servers. Inferior connection over the internet can be the reason as well...., so I would recommend a phone broker as backup (rather than another internet broker). I use a domestic full-fare broker as a backup for some trades. In general Dateks performance is good, and also the OTCBB trading is doing well. I do not trade Nyse and Amex stocks over Datek (except in very few cases), so I don't know how well it works with NYSE/AMEX stocks. For a reason unknown to me it always rejects sent orders in AMEX warrants. Of the 30 trades I did on Oct 18, 4 regarded the heavily traded SUNW and from what I remember it performed very well.

To: Richard James who wrote (15064)	10/22/2000 10:03:38 PM
From: Sir Francis Drake	Read Replies (1) \| Respond to of 16892

Richard, I still have my back-up brokers, and I think it is a MUST. Datek has been better the last few months, and I can't complain... but maybe that is because I'm using them less, and it is less critical that they perform extremely well. Thursday, I did a few trades w/ Datek and they did well. I use Cyber (believe me, not the ideal broker either) for the bulk of my trading, but I do use Datek for 3-4 trades a day, however only for the more leisurely swing-type trades, where exact enty/exit points are not as important. Lack of the capability for order routing by customers is a drawback. I do use Datek for NYSE and AMEX trades quite a bit, and I've never had a problem - as a matter of fact, I do almost all my NYSE/AMEX trades with Datek rather than my other brokers - come to think of it, the majority of my trades w/ Datek are listed issues (mostly because while 90% of my trades are Naz, I do use Cyber for most of my trading). All in all, while I have no experience w/ Etrade, I suspect Datek is the better broker. All IMO. Morgan