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

To: Dan Duchardt who wrote (25)	2/18/1998 9:21:00 AM
From: Walt Campbell	Respond to of 32

Dan, You are right, I had read something into the message that wasn't there. Thanks for taking the time to explain the system. That helps clarify some things for me. Walt

To: Dan Duchardt who wrote (25)	2/18/1998 10:59:00 AM
From: Dan Duchardt	Respond to of 32

OOPS!! Next to last sentence should say: But if you are willing to pay the asking price, or SELL at the bid you should get good executions. Sorry. I guess we all subconsciously hope for price improvement.

To: Dan Duchardt who wrote (25)	2/18/1998 12:04:00 PM
From: Cash	Read Replies (1) \| Respond to of 32

Dan, Nice, comprehensive reply, but I do have a couple of clarifications based on my experience, and I must stress that I'm sure this is based on the Order Entry system you use, so choose wisely. 1. Our order entry system would automatically redirect a SOES order to an ECN if there was an equal or better quote there as you were more likely to get the execution that way. 2. Your chances of having an execution when you go on the bid are BEST (not guaranteed) if you are on the most used ECN and one that has the situations in #1 above occurring. The ECN transaction was always instantaneous. And it would only redirect to an ECN where the cost was the same as with SOES. You had to preference an ECN that would cost more (INCA).