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Strategies & Market Trends : SOES Trading -- Ignore unavailable to you. Want to Upgrade?

To: Sniper who wrote (1149)	11/16/1997 5:34:00 PM
From: Jack Zahran	Respond to of 1618

Snipe', nice post, I looked at the Nasdaq Trader site and noticed that Island has hardly the liquidity of other MM's. So I would surmise that having the ability to work your trade through SNET, SOES or any ECN is even better. With your success rate I imagine you'd be raking in the dough if you had even better liquidity. I am hoping that the new transparant trading systems out recently will drop their rates even further to make scalping on an 1/8 worthwhile. I would definetly make riskier trades nowing the round trip won't cost me more than $40. I just hate being at risk with another brokers routing system when the trade turns against me and I can't get out. (It quickly eats up the scalps I previously won at.) Again, thanks for your refreshing post. I don't understand why anyone would limit themselves to SOES. Then, again maybe they're not, but just categorizing it under SOES. JZ

To: Sniper who wrote (1149)	11/17/1997 3:42:00 PM
From: Michael Friesen	Respond to of 1618

No need for violin music. Good trading advice is always welcome though. I assume that since you're trading with Datek online, that you trade from home. What is your setup in terms of computers, quote providers, analysis software, etc, and what does this come to (roughly) in monthly overhead? If you average 500-2000 per day (after commissions?) what is your average profit per trade, and how many shares usually. I'm just trying to get an idea of your style.

To: Sniper who wrote (1149)	11/17/1997 6:51:00 PM
From: Mark Davis	Read Replies (1) \| Respond to of 1618

Very impressive track record Snipe. You're making 250-400k a year (on what buying power may I ask) and never get jiggled out and rarely lose more than an 1/8. Hmmmmm, you mean your stocks never drop an 1/8 unless they are sincerely headed for the toilet? I'd like the names of these 'honest' stocks. As for Island, they are rarely a source of liquidity in the WRONG direction. They're usually buying on the way up , and selling on the way down. The 'book' as you well know, mostly contains trades so far out of the current price as to be worthless for saving your butt in a down move. Maybe I'm missing the big picture, but your post sounds like a fairy tale to me. Like your take on keeping commisions down though ;}.

To: Sniper who wrote (1149)	11/19/1997 11:34:00 PM
From: Pullin-GS	Respond to of 1618

Good points. Today was a mostly news day for me. Yesterday was slow, so I was happy with several scalps. ....and all these day trades where done using E*Tard! My SOES/ECN online broker that I use (Castle) is not available at the moment because my Laptop is hosed, and I don't feel like re-loading my backup....I'm part time, so I can get away with that. And when the market was in a stable up-trend before all this fuss over the asian economies I had quite a few T/A possition trades going. And I hold about 5 long term favorites as well, an IRA, and 2 401Ks. I am by no means an expert in any one area, but I feel quite comfortable trading with my general knowlege (actually I'm being hard on myself<G>) in many areas. Regards, Paul