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Strategies & Market Trends : Daytradng 101... A place to ask simple questions. -- Ignore unavailable to you. Want to Upgrade?

To: Walt Campbell who wrote (2)	2/15/1998 1:46:00 PM
From: Dave Campbell	Read Replies (2) \| Respond to of 32

Walt, SOES stands for "Small Order Execution System" It is used by individuals to trade NASDAQ stocks in lots of 1000 shares and under. It was mandated by the SEC that market makers give equal access to the small trader. While this type of order execution sounds great it requires a very elaborate computer and software setup that many "newbies" couldnt or wouldn't want to pay for from the start. Also a lot SOES trades are played out for 1/16ths (Known as "Teenies"). This small reward for a high risk in terms of number of shares played might be better suited to the more experienced daytrader. I hope this helps.

To: Walt Campbell who wrote (2)	2/15/1998 11:55:00 PM
From: Bo Didley	Read Replies (1) \| Respond to of 32

Best Remote Brokers For Day Traders.............Level 2.......SOES . . This is what LEVEL 2 looks like: vlcn.com Cost is $150/month for level 2. This also has an execution system built in, as do many others mentioned below. . . This is Irby's compilation at the Final Frontier thread: A. B. Watley(Real Tick III) abwatley.com A. B. Watley SI thread:https://www.siliconinvestor.com/subject.aspx?subjectid=16597 Castle Online (KillerKey) castleonline.com Castle Online SI thread:https://www.siliconinvestor.com/subject.aspx?subjectid=16861 CyberCorp (CyberTrader) cyber-corp.com CyberCorp SI thread:https://www.siliconinvestor.com/subject.aspx?subjectid=13095 MB Trading(Real Tick III) trading-quotes.com MB Trading SI thread:https://www.siliconinvestor.com/subject.aspx?subjectid=19037

To: Walt Campbell who wrote (2)	2/16/1998 8:55:00 PM
From: Cash	Read Replies (1) \| Respond to of 32

Walt, just a bit more info for you on SOES. It can be done remotely. The costs can be kept down. You just need a PC. Keep in mind that with SOES, Market Makers are required to honor the price they show on the bid and offer which is great because if you really want to get in or out, you can hit the SOES button on your order entry system to force the market maker to make a trade he doesn't want to. The bad news is that each market maker only has to trade 1000 shares if he's SOESed and then he can change his quote. So if there are 3 market makers selling INTC at a price that 100 people with a SOES machine want, guess how many get it at that price. (Clue: the three with the fastest fingers).