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

To: Jay Morrison who wrote (1207)	1/22/1998 11:51:00 AM
From: Candle stick	Read Replies (1) \| Respond to of 1618

Hi Jay, I have never SOES traded...what I do is trade from home via information and charts and news from AT financial (http://www.atfi.com) which is really a professional service. Everything (and I mean everything) costs 420$/month...level II, TOS, realtime charting, rueters news etc......then I execute trades through Datek, which uses almost exclusively the ECN known as 'ISLAND', ISLD on nasdaq level II screens......this is a great setup for quick executions of 3-10 seconds, but more geared to trading off of charts rather than momentum because I dont think you will be able to match the speed you can get in an office when it comes to ENTERING the order....this will take you 5-7 seconds on Datek if you are very fast....in a soes office I think its faster therefoe more condusive to scalping.....hope this helps...I may be looking into an office situation myself. Any to suggest?

To: Jay Morrison who wrote (1207)	2/1/1998 11:13:00 AM
From: funk	Read Replies (1) \| Respond to of 1618

Hey Jim, I don't follow this thread as religously as The Final Frontier thread, so I just saw your questions now. >>>I would like to know how most of the traders here are trading? For example, 1) what firm do you execute thru? 2) does that firm provide level II quotes? 3) what is the per ticket charge? 4) are you trading from home or at an office (Block, etc) 5) what are the pros and cons for your current provider? <<< I am using Manhattan Beach Trader, which is an intergrated package set up for active daytrading. Yes they supply Level Two quotes as well as other Real Time market data from SP Comstock. Ticket charges are discounted as the number of trades increase. Expect to pay around $20 or $21 dollars a ticket. I trade from home. Pros and cons? There are only a handful of options available for active daytraders who trade from home. Manhatan Beach is equal to or better than the others in every respect. The only CON I can think of, is that even the very best execution system does not make your success certain. Having the most excellent trading toolkit does not make one an excellent trader. To monitor market data with one of the most complete programs available (Real Tick III), to "work" your own order through the Small Order Execution System or through ARCA an ECN like Island , and to trade before and after the bell: these things are all on the cutting edge for remote daytraders and if properly used can increase profitability. So no matter who you choose for your trading, Jim, you still face a great challenge. Do some homework. website trading-quotes.com phone 888-790-4800 ask for Steve or Ross also check the Final Frontier Thread for other ideas I would encourage you also to go to daytraders.org and get a look at the free channel on the IRC, during market hours there are over 350 active traders on the #daytraders channel. You can learn ALOT about execution systems, methods, level II, etc. by visiting there. Good luck to you Jim I hope you have a great '98 funk