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Strategies & Market Trends : Daytrading Psychology -- Ignore unavailable to you. Want to Upgrade?

To: Dan Duchardt who wrote (38)	12/1/2000 10:55:19 PM
From: Threei	Read Replies (2) \| Respond to of 104

Dan, thanks for kind words. I know IB offers all you listed. But lack of preferencing makes SNet almost useless and leads to situation where your order doesn;t create any liability. Naturally, next step is: you are filled on SNet only when MM feels like it - read: when stock is more likely to move against you. Also, last time I looked, order entering interface looked more like online broker's one... significant disadvantage vs interface where you can sent PREF by just doubleclicking on MM ID on Level 2... or set ARCA buy best ask so it monitors price changing and all you have to do is to click Send button when the moment is right. So, unless I am not up to date on all this, I would still consider IB to be somewhat behind advanced DA. No doubt, their commission schedule is great, and I agree with you in regard that it takes a lot of pressure of the beginner's shoulders. At the same, remember what this discussion of brokers started with: statement that it takes too long to get a fill on stock like CMGI. I trade CMGI last weeks and my fills are instant on it... so may be it's that lack of functionality that makes IB less effective on such an easy to route stock... Vadym

To: Dan Duchardt who wrote (38)	12/2/2000 1:14:24 PM
From: rocklobster	Read Replies (1) \| Respond to of 104

Dan... I must say that I definitely welcome all input.. I don't take any criticism as personal criticism.. I am trying to limit my emotional attachments in this endeavor and if someone has something critical to say about my methods, I will note that criticism and try to keep my emotions out of it.. I am very happy that Threei has decided to respond to me and help me to learn these things and even to point out that I need to get a grip on certain realities involving this business.. I read these threads to learn from people who have more experience than I do and I share my experiences, however stupid they may be, with the hopes that I can learn and that maybe my mistakes and successes will be helpful to others as well.. rok