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To: Toothfairy who wrote (24421)12/7/1997 1:56:00 PM
From: Chuzzlewit  Respond to of 176387
 
Okay, I take it back. I don't trade, so whatever I say about it is secon-hand and suspect <VBG>. Are you saying that SOES is a sham?

Regards,

Paul



To: Toothfairy who wrote (24421)12/7/1997 4:11:00 PM
From: jim kelley  Respond to of 176387
 
Toothfairy,

I would appreciate your opinion of the requirements for successful trading as a S.O.E.S trader. I have been evaluating their systems and methods but I have not put them to the test.

The system I am evaluating can execute a trade in .8 seconds and report it back off a satellite feed on a NASDAQ level 2 screen in 1.5 seconds. The system has Instinet, Archipeligo, Island and a number of other electronic book servers as well as the normal ones. It was functioning flawlessly on October 27. So I think it is mechanically nearly perfect.

What bothers me is the whether the Level II screen can give you
a few minutes edge on the market direction reliably. Do you know waht the pitfalls are her?

Regards,

Jim Kelley



To: Toothfairy who wrote (24421)12/7/1997 6:20:00 PM
From: Geoff Nunn  Respond to of 176387
 
Toothfairy - that looked like an interesting post but I had trouble following it. Can you run through that again? (not the Karate part) :o)



To: Toothfairy who wrote (24421)12/8/1997 11:23:00 AM
From: jbn3  Read Replies (1) | Respond to of 176387
 
Toothfairy,

Please forgive what are perhaps some very naive questions regarding your experience as a trader:

a) for a high volume stock like DELL is a 10,000 share block big enough to move the market?

b) if the current bid is 94 bid - 95 ask, and someone places a market buy order for a 10,000 share lot, is he guaranteed to get it all at 95?

c) same question for sell.

d) to trade volumes like that, should one open an instinet account or what do you recommend.

TIA for sharing your time and knowledge.

regards, 3 (ps: very interesting pseudonym!)



To: Toothfairy who wrote (24421)12/29/1997 12:16:00 PM
From: N  Respond to of 176387
 
re: bid/ask inferences

Dear Toothfairy:

"An investor using level 2 is kinda' like a brown-belt in karate: he knows just enough to enter a bar on Fri. night, pick a fight and get his butt kicked.......no offense."

Tried to make the same point empirically in the LGND Clubhouse. But here, you 'nail' the propagating mechanism (theory) so well!

Please grace us with more insights on 'liquidity'.

Bravo(a) (?)

nh