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

To: DRRISK who wrote (25)	2/1/1998 11:10:00 PM
From: Melissa McAuliffe	Respond to of 1086

DRRISK, I hope you have some patience here because this is all very new to me and I am finding out new things every day. I got pcquote for the realtime quotes and charts. I was doing some short term trading and didn't have the information I needed. pcquote has been great so far but keep in mind I had nothing to start with. I had (and still have) a Quotrek which I could set for alerts at least but that was never a good solution but was a start and I didn't know at the time there were much better solutions. I guess I'm confused as to what the time and sales has to do with what I am using for executions. Right now I am only doing one trade at a time until I get more comfortable with this and more imporantly for the following reason.. This may sound very convoluted by what I do is I get my closing trade set up using DLJ except I don't hit the "send order". So I can watch what is happening with my stock and then if I want to sell (or buy)I simply go to that program and hit "send order". This is also why I can only having one trade going at a time. I cannot get it done fast enough if I have to start from scratch and enter all kinds of data. If a stock starts to move time is of the essence so this is the only way I can get the speed of execution. I willl say thought that DLJ executes very quickly...I would say less than 30 seconds tops. And I have(so far) gotten my trades through at the current bid or ask. I am sure that many people on this thread are probably laughing at this description of how I trade (rightfully so) but it is what I know at this point. Why I want the time and sales is because I can then at least see what is going on behind the current bid/ask which is all I can see now. I can also go back and look at history. In addition, I would not have to stare at my screen all day!! Hope this answered your questions. Any input you can offer is greatly appreciated. Melissa