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

To: Darren who wrote (228)	2/25/1998 9:26:00 PM
From: robert klasky	Read Replies (1) \| Respond to of 1086

>>Block has lost 5 offices recently - San Francisco, Long Island, Fairfield, San Antonio and Ft. Lauderdale. If you own an office and you have 16 people doing one trade a day, you're toast. Break even is 250 tickets per day. A good office must have a core of big ticket traders, or it won't survive. I'm curious as to where you got this info (closing of the Block offices). Someone on this thread posted an article from the Chicago Tribune about an office in Chicago that had closed, but that there was another one opening up in its place. That's the only one that I've heard about. If you could post the URL's of any articles about the daytrading business (as opposed to daytrading in general), I sure would appreciate it. Like I said, I've seen the one from the Chicago Tribune that was posted here a couple of weeks ago. Is the closing due to a general dryup of daytraders, or competition from other daytrading firms? All-Tech has been advertising heavily on Bloomberg radio out of New York. Thanks, bobk

To: Darren who wrote (228)	2/26/1998 10:53:00 AM
From: mmaker	Read Replies (4) \| Respond to of 1086

Darren, Assuming you are not one of the guys who work for Cyber who flood this thing with commercials, and I assume you are not. You have made my point for me. Stop thinking from the perspective of the office and think from the perspective of the trader. These guys set these places up to churn trades, not help traders make money. This is exactly why Block is dying and why Cyber will. SOES trading as a hit and run form is dead. Learn to compete with the Market Makers on their terms, and you will succeed. Market Makers as enemies, and all this trading is war BS is, just that. Market Makers manipulating etc...to screw you is the talk of morons. The ECN has leveled the playing field, use it for position play and stop getting sucked into this "Green means buy mentality". What Block and now Cyber is doing is ruining a lot of good potential traders. MM