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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures -- Ignore unavailable to you. Want to Upgrade?

To: Patrick Slevin who wrote (42375)	12/18/2000 8:02:39 AM
From: virtualsignal	Read Replies (1) \| Respond to of 44573

Not yet, I have put off calling them bcuz my connection isn't up to 56k par, yet. Still working on that connection issue. Seems an ADSL offering is right around the corner, don't know for sure how long that will be, but I'm told next month. ISDN is not a good option for me, so it's either a 56k or ADSL, will make that pick in the coming weeks. _______________________________ I heard about them from the Dupee article with LB. ... Other Players At this point, Lewis is ready to go back to his office but sets me up with Patrick Spears before leaving. Pat runs a pit-side brokerage, RBH Financial, as well as an online brokerage, Webvestor.com. Patrick has a stream of calls coming in and usually a phone on each ear. He maintains an almost non-stop dialogue into each phone while simultaneously hand-signaling orders to the pit and time-stamping and manually filling out order forms with account numbers, contracts transacted and fill prices. He also has two other guys working for him tendering orders as well as other broker-booths located around the pit. “Do you have any questions?” Pat asks with a phone still attached to his head as he screams to get the attention of a filling broker at the top ring of the pit and gestures that he is buying contracts at the current price. “Ah, yes, but aren’t you kind of busy?” I reply. “That’s all right. I’m used to multi-tasking,” he says wryly, time-stamping the front and back of an order form before filling it in. “No s___,” I say in response to his understatement, one of many so far this day, but presumably par of the action on the floor of the CME. I asked Pat what was it that he did that made him different from any other broker, why a trader would use him. Pat said, “We’re more of a boutique brokerage in that we offer more attention, better fills, and sometimes a little hand-holding. Some of the other brokers don’t really give a damn where you get filled; they kind of go through the motions. I fight to get good fills.” And then, as if by way of demonstration, Pat bought contracts back that he had just sold for a client. This had occurred as the pit noise level rose in a flurry that broke the market below 1430 (at 10:35 ET) and to a new low and got the client out of a losing short--a false breakdown--that could have been much worse without such quick reflexes and aggressiveness.