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

To: Mike Perras who wrote (833)	11/5/1997 8:38:00 PM
From: TFF	Read Replies (1) \| Respond to of 12617

Mike: right now I am still using a couple of full service brokers in Canada. The Canadian discount brokers are of no value to me because non of them give me instant execution and good fills. I will be signing up with A.B. Watley in the U.S. for my online broker now that they have made available their Ultimate Trader service. The key is instant execution and good fills. Serious Daytraders should never accept anything less. Many novice traders make the mistake of going with a discount broker stricty for low commissions. Here are some of the hidden costs of poor(discount or full service) brokers: 1) You can't get a hold of your broker immediately to put trades in - This can cost you BIG money if you miss a trade. 2) You don't get immediate confirmations. You must have this information to make further transactions so it can cost you BIG money if you get slow reporting. 3) The broker does not work the order for you to get a better price, or the broker does not offer you access to an order entry system with multiple execution options to allow you to get a better price yourself. 4) The discount broker limits the types of order you can enter thereby limiting your ability to trade effectively. The bottom line - do your homework BEFORE you decide which broker to use. You can save yourself BIG money if you do!