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

To: DRRISK who wrote (120)	2/8/1998 7:30:00 PM
From: Nazbuster	Read Replies (1) \| Respond to of 1086

DrRisk, re: what you see on CyberTrader. Are you able to put into words what you see that gives you confidence that you will be able to tweak that 1/8 or 1/4 plus spread plus commission? I've been following the 1-minute and 5-minute charts on a few stocks to see if I can observe the price/volume patterns and draw any conclusions. I've also watched the orders go by (15min delay) on Quote.com's great java chart. Based upon what I see, I do mental trades, but encounter many places where I would have gone the wrong way. Are you trying to hop onto a sudden volume surges in a known and obvious direction? Can you give a novice a clue?

To: DRRISK who wrote (120)	2/8/1998 11:06:00 PM
From: Jay Morrison	Read Replies (1) \| Respond to of 1086

Frankly I think all of this talk about market makers playing games and being out to get the SOES traders is alot of paranoid b.s. The market makers are interested in making a profit like anyone else and are looking to scalp the market. I come at this from the point of working for a wirehouse and having experience working with our market makers to get large trades filled. Market makers are not thinking about SOES traders at all. They are trying to scalp their own in-house brokers when large orders are coming thru. I never let my market maker know how large my order is. He would try to screw me over and make 1/32 on me. When we are talking 50,000 shares then that is $1,500 to the market maker. SOES traders are just volume to the market makers. They are not lowering their bids trying to sucker you in. They don't know much more than any other day trader. They are simply more active than daytraders and don't have transaction costs. That is where their advantage lies.